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In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here

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

Gold Loan in Park Road

Park road, or central park road, is one of the most popular commercial areas in agra, near sikandra, in sector 1, lohamandi. Park road starts at sikandra - bodla road and ends at 100 foot lane. The path is within easy reach from major tourist destinations such as agra fort. The area falls under the jurisdiction of the agra south assembly and the legislative district of agra. Raja ki mandi and agra city are the closest railway stations. The street is situated in central park, soor vatika. There are several shopping malls, banks, hospitals, atms, office complexes and residential buildings on both sides of park lane, making it one of agra's most-visited avenues. People living in the locality often use park road gold loans to achieve their financial objectives.

Gold Loans at the privacy of your home

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Eligibility criteria for an online gold loan

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:

  1. Low rate of interest
  2. Minimal documentation
  3. High loan amount
  4. Flexibility in repayment options
  5. Instant loan approval, etc.

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:

  1. The borrower shouldn’t be a minor
  2. The mortgage loan should be of 18 karat or above
  3. The gold should be in the form of ornaments or jewelry.

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.

Documents required for an online gold loan

If you are looking to source immediate funds at short notice, online gold loans are your go-to avenue! The eligibility criteria are relaxed, it requires only minimal documentation, you are eligible for a higher loan amount (though the upper cap is contingent on the value of your gold), you can choose from a range of flexible repayment options, the benefits are endless! The documentation requirement can be split into two parts:

1) Identity Proof- Documents that serve as identity proof include but are not limited to:

* Voter's ID

*PAN Card

*Aadhaar Card

*Passport

*Driving License

2) Address Proof- Documents that serve as identity proof include but are not limited to: 

*Aadhar Card

*Passport

*Driving License

When it comes to gold loans, most lenders allow the borrower the latitude to avail a loan using just the king of all documents- The Aadhaar Card. Since it contains almost all the necessary information including Name, DOB, Name of parents/spouse, Address, Biometric information, and Iris Pattern Scan it acts as an all-rounder when it comes to documentation!

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Frequently asked questions

Can I avail EMI facility on gold loan?

Yes, you can avail EMI facility on gold loan in Agra. Equated Monthly Installment is the amount that you pay every month to your lender for the loan you have received against your gold. EMI includes both the principal amount and the compound interest. Most of the time while applying for a gold loan online you can use the online gold loan calculator and check the EMI applicable for your loan amount. EMIs are one of the best methods of repayment of the loan. The consistency, as well as the fixed amount in an EMI, makes sure that the borrower doesn’t have to dip into their savings during the course of their gold loan in Agra.

Is it risky to take a gold loan?

A gold loan is arguably the easiest and immediate type of loan out there in the market which makes it extremely lucrative to address your financial needs. In circumstances where you need quick money and you do not possess any other assets to pledge, a gold loan can be a useful avenue. However, it is advisable to refrain from taking a gold loan if you believe you will not be able to repay the demanding interest amount along with the principal. Additionally, if the gold prices drop drastically during the tenure of loan some lenders may ask you to pledge more gold or pay up to meet the difference in amount. 
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