Paratwada, formerly known as paltanwada in the past and also known as 'achalpur village,' is a town and municipal council located in the district of amravati in Maharashtra, indian state. It is the second busiest city in amravati district after amravati, and the seventh busiest city in vidarbha. This town is on the fringes of both Maharashtra and madhya pradesh. Paratwada is renowned for its exports of wood and honey, and is asia's largest provider, as it is an entrance to india's perhaps densest forest – melghat. Paratwada is very well connected by public highways with major urban centers. Maharashtra main state highway 6 and major state highway 24 travel through paratwada district. In paratwada, residents typically prefer gold loans to pay for their expenses.
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.
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.
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