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Gold Loan in kulasekharam

Kulasekharam is a small town in Tamil Nadu's kanyakumari district. It is conventional, as well as modern. Popular for the various festivals held by locals including onam, pongal, easter, ramzan etc. It is growing into a modern community, largely due to the various companies that operate throughout the area. The city is also dedicated to healthcare and has three elite medical schools. The breathtaking falls of thirparappu, and the thick forests make it a popular tourist destination. After marthandam it is one of the busiest commercial centres. The rubber plantations of the town manufacture very high quality latex; this is mainly the reason why people in kulasekharam typically take gold loans. It is the main source of income for the town and is estimated to pull in as much as five crore rupees every day.

What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

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

Will gold items with stones be accepted for gold loan?

If you are looking to pledge or repledge your gold as collateral to avail a gold loan in Kanyakumari, you may do so provided you are only pledging gold in the form of jewelry or ornaments as most lenders don't accept gold bars or coins. You can still pledge your gold even if your jewelry is encrusted with stones. It is noteworthy that during gold valuation, the weight of the stone will be calculated separately and deducted from the total weight of your gold. When it comes to gold valuation only the purity of the gold is taken into consideration.

How is KYC done at home for online gold loan?

KYC documents are documents that prove the borrower’s identity and address. It can be the borrower’s Aadhaar card, PAN card, voter ID, driving license, or passport. These are the only two documents that a secured loan demands from its borrowers. When the representative from the company arrives at your doorstep to verify your documents and your gold, your documents will have to be uploaded to check its validity. The official will take pictures of the documents and upload them to the company’s system. Within minutes, the documents will be verified and the process will be completed.
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