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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in koramangala

The locality of the Kormangala is highly sought out and is one of the best regions and this region is one of the most expensive areas in the South-Eastern Bangalore. It is situated near the Electronic city and secures the top position in the country's significant-tech startup locations. The migrants also reside here for the job prospects, internships, good education, etc. In today's time, this region is a combination of all sectors like residential, commercial, educational, industrial, etc. It contains people all over and out of India. It also possess some best and famous restaurants, bars, eateries, etc. which proves to be the paradise for the foodies. It even has a better lifestyle and thus requires more money to survive. People take an instant gold loan in Kormangala for their survival and fulfilling their needs.

Gold Loans at the privacy of your home

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Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

* Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

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Frequently asked questions

Is there any age limit to avail a gold loan?

Each lender follows a different age limit criteria for people that are applying for a gold loan in Bangalore. Some lenders require the borrower to be a minimum of 18 years while some others require the borrower to be 21 years of age. Some have a limit of 65 years while others have 75 years as the age limit. However, largely, if you are an Indian citizen, above the age of 18 and possess the required KYC documents and gold amount, you can avail a gold loan. The eligibility criteria for a gold loan is less compared to other sources of funds. As long as you are above 18 years of age, and the gold that you are providing as collateral is above 18 karat gold, you are eligible to get a gold loan. The gold that you pledge as collateral can only be in the form of ornaments or jewelry. 

Is part withdrawal of gold Jewellery allowed post part closure of gold loan?

No you cannot withdraw your pledged gold ornaments with a part payment as most lenders do not allow it due to chances of fraudulence. The gold pledged is like a surity for the lender that assures your repayment of borrowed loan amount. However making part payments of both principal and interest is allowed. Only when the entire principal and interest amount is repaid and the gold loan in Bangalore is deemed close, the loan manager will hand over the pledged gold ornaments to you and obtain an acknowledgement from you.
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