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Gold Loan in market yard

One of the acclaimed commercial markets in the city of Pune is the Market Yard, also known as Shree Chhatrapati Shivaji Market Yard. It is recognised for the wholesale of various vegetables, flowers and fruits. It is situated in the Maharshi Nagar area, close to Gultekdi. It is near to Swargate, which is a big Pune business centre.It is known for the entire sales market of organic items, fruits , and flowers. Transport from PMPML connects Market Yard to various parts of the area. Market Yard is one of Pune 's main transportation stops. It uses trucks and tempos to transport goods here. To keep their businesses going smoothly, the sellers take gold loans in Market Yard.

Eligibility criteria for an online gold loan

As a secured loan, the online gold loan offers unparalleled convenience, like easy eligibility, minimal documentation, high loan amount, long tenure, flexible repayment options, low rates of interest, and instant loan approval. Because of its simple eligibility criteria, virtually any Indian citizen can avail a gold loan. To avail a gold loan online, your age must be above 18. The purity of the gold you want to mortgage should be 18 Karat and above. The third and the last eligibility criterion is that the gold should be in the form of jewellery or ornaments. Generally, Indian lenders do not accept gold bars or coins for approving the gold loan. To calculate the loan amount, the lender evaluates the quality, weight, and purity of the gold and multiplies it with the previous thirty days' average price of gold. The figure that comes out as a result of the gold evaluation is the loan amount a borrower becomes eligible for.

Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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Frequently asked questions

Can I avail EMI facility on gold loan?

Yes, EMIs are available for a gold loan in Pune. EMI stands for Equated Monthly Installment where a fixed amount is paid every month towards the repayment of the loan. The EMI consists of both the principal amount as well as the compound interest. EMIs are fixed and consistent and make sure that the repayment of the loan does not burn a hole in the pocket of the borrower. Before you place an application for a loan, using the online gold calculator, it is possible for you to check the amount you will have to pay as EMI for your gold loan in Pune.

How is KYC done at home for online gold loan?

The loan manager will ask for your KYC gold loan documents and will take photos of these to upload onto our system for verification from our approval team. This step of the gold loan process usually takes place within minutes and your KYC is completed! The KYC documents are used to prove your identity and your address. Any of your documents, such as your Aadhaar card, PAN card, passport, voter ID, or passport can act as your identity proof. With the exception of voter ID and PAN card, any among the rest of the documents can act as your address proof. 
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