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

Gold Loan in nagarbhavi

In the western portion of Bangalore in Karnataka, a residential neighbourhood named Nagarabhavi has been located. The local traffic is handled completely by the two major roads, which are Mysore road and Magadi road. This locality is surrounded by Sir M.V. Layout, Magadi Road, Chandra Layout, Bangalore University, and Vijaynagar. It has been divided into two divisions - Nagarabhavi 1st stage and Nagarabhavi 2nd stage. This locality is a prime location for education in entire Bangalore. Other than the Bangalore University, the campuses of several educational institutions such as National Law School of India, KLE Institute, Padmashree College of Hospital Administration and Public Health, and Dr Ambedkar Institute of Technology are located here. It has become a prominent destination for real estate due to the several students living in this area. People often decide to take up a gold loan in Nagarabhavi to purchase a house or sponsor their education bill.

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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

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.

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Frequently asked questions

Can I get immediate cash with gold loan?

Yes, you can get immediate cash with a gold loan in Bangalore with the help of Rupeek. One of the most attractive features of all online gold loans in Bangalore, including Rupeek is that the gold loans can be obtained instantly. Within minutes from the approval of your loan, the loan amount will get disbursed into your account. If you are looking for immediate funds or emergency loans, then applying for a gold loan in Bangalore is your best bet. The security associated with a collateral-based loan such as a gold loan allows the lender to provide the borrowers with many benefits. The whole process when acquiring an online gold loan in Bangalore, from the loan application to the disbursal of the amount, does not take more than an hour. 

What are the documents that I need to submit while applying for a gold loan?

A gold loan only requires you to submit KYC documents for verification before the loan can be processed and disbursed. This includes ID proof and address proof, which can be a driver’s license, Aadhar card, voter ID, PAN card, or passport. Along with this, a utility bill or lease agreement must be provided. One of the main advantages of a secured loan is the minimum documents that it requires. It means that the loans are easy to procure as well as flexible, thanks to the relaxed eligibility criteria. While other sources of funds, such as unsecured loans demand several documents to prove your financial health, a secured loan can be obtained with just the Aadhaar card.
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