The city of dreams, Mumbai, comprises of many localities and each locality brings a different flavor of the lifestyle here. One such locality is Lala Lajpat Rai Marg which is located along the western coast of the city. Mumbai being one of the most expensive cities in India makes its residents be on toes for financial stability. People often fall into financial crises and applying for a gold loan in Lala Lajpat Rai Marg seems to be a good substitute for them. There are several retail markets, government offices, commercial hubs, educational institutes, hospitals, supermarkets, and restaurants in the near vicinity of this neighborhood. One thing for sure, this city welcomes all with open arms to try their luck and fulfill their dreams.
Gold loan is the most flexible and popular source of funds in the Indian financial market. A gold loan is a secured loan, which means that to obtain quick funds or emergency loans, the borrower has to pledge their asset (in this case, their gold) with the lender to obtain funds in return. A secured loan is also known as a collateral-based loan since the funds can be availed only against the asset of the borrower. Gold loans owe its popularity to its attractive features such as:
Using a gold loan, the borrower can get up to 75% of the market value of the collateral as the loan amount. In some cases, up to 90% can also be disbursed as the loan. Instant gold loans are so true to their name that the funds get transferred to the borrower’s account within one hour from the loan application.
A gold loan is the perfect solution when a borrower is looking for urgent loans or emergency funds. With the help of an instant gold loan online, the borrower can receive the required funds in less than an hour. The borrower is eligible to get up to 75% of the market value of the pledged gold as the loan amount. Unlike many other sources of funds, an online gold loan requires minimum paperwork before giving the loan approval. The required documents are:
Some lenders also approve the loan against just the Aadhaar Card of the borrower. The Aadhaar card is the most important document for an Indian, which has all the details regarding name, father’s and mother’s name, address, biometric information, iris scan, etc. Therefore, it can function as the identity proof as well as the address proof.
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