Karnataka’s Mangalore is one of the few places in the country that lies in the ghat section but is also situated close to the Arabian sea, making it an ideal destination for both beach as well as mountain lovers. Did you know Mangaluru derives its name from Mangaladevi, the principal deity of the Mangaladevi Temple. The port city is located around 352 km away from Karnataka’s capital city, Bangalore. It is well- connected via road, railways, air and sea. It is a major commercial, industrial and agricultural hub in the state. People in this part of the country monitor gold rates often and avail gold loans as investment since many of them are interested in business. Kudroli Gokarnath Temple, New Mangalore Port, St. Aloysius Chapel, Sultan Battery and Ullal Beach are some of the popular sightseeing spots. The Panambur Beach serves as an important tourist hotspot since a famous international kite festival is held at that spot.
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.
Since a gold loan is a secured loan, it offers many benefits that the other sources of funds do not offer. Some of the benefits offered by a gold loan include:
The requirement for eligibility for a gold loan isn’t much. To avail a gold loan, the borrower has to fulfill the below-mentioned criteria:
The loan amount is then calculated by the lender by multiplying the quality, purity, and weight of the gold. The lender then multiplies it with the average price of gold for the past thirty days. The resultant amount id the loan amount that the borrower can borrow.
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