Andhra Pradesh’s Nellore is not only a tourist Hotspot but is also a popular spiritual centre in the state. It is located in between Chennai and Vijayawada, making it accessible. The serene landscape of the region is dotted with beaches, lakes, temples and what not. After being under the reign of several dynasties such as the Cholas, Pandyas, Pallavas, Mauryas, Satavahanas, the Vijayanagara Empire, Sultanate of Golconda and even the Mughal empire, the city displays a rich cultural history. Nellore is not only located on the banks of river Penna but it is also situated near the Bay of Bengal, making it a suitable location to pursue Aquaculture and agriculture. The must- try list of local cuisines will definitely include the popular Nellore Reddy cuisine. Locals tend to hoard gold jewellery for important occasions like weddings and often depend of gold loans to do so.
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.
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.
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