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

Gold Loan in savli

Savli is a village in gujarat, near vadodara. It is very similar to one of gujarat industrial development corporation (gidc) centres, including companies including nirma chemical, bombardier transportation and thermax. Savli is expected to see rs 10,000 crore worth of contributions from these organizations in the coming years. Resident living conditions are above average, and liquidity is used for gold loans in savli. Tobacco is the principal crop in this area. Savli is also popular for swamiji, who has done a lot to boost savli people's quality of living. He provided citizens with educational establishments, medical services, sanitation, cultural facilities and municipal facilities.

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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.

What is an online gold loan?

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:

  1. Low rate of interest
  2. High-value loans
  3. Minimal paperwork
  4. Flexible repayment options
  5. Instant loans etc.

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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Frequently asked questions

My payment has failed, what do I do?

Since all the transactions take place online, in the case of an online gold loan in Vadodara, it is possible that due to some error, the transaction may fail. If this should happen to you, rest assured since within 72 hours from when the amount was debited from your account, it will be credited back to you. This is what the guidelines of the bank state. In case it doesn’t refund within that duration, make sure to get in touch with your bank. If you attempted to make the transaction via NEFT, it will take longer to get refunded to your account. If you still need help with the transaction error, you can always get guidance and help from the support team of the lender.

Can a family member be present for the appraisal in my place?

It is mandatory that at the time of the loan appraisal and the verification of the documents, the borrower has to be present. Nobody, not even the close relative or family member can be sufficient in the place of the borrower. The process of verification and validation of the KYC documents as well as the gold is an important step in the process of loan approval. The identity proof and the address proof of the borrower have to be cross-checked. This demands the physical presence of the borrower. It also helps in establishing the transparency and security of the company. If you cannot be present in person during the verification process, the appointment will have to be rescheduled. 

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