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

Gold Loan in Sector21D

The famous Badkhal Lake has several localities near it, one of them is Faridabad Sector 21D. It borders with Ankheer, Sanjay Gandhi Memorial Centre, Sector 21B, and Kartik Vihar. It comes under the assembly constituency of Badkhal and Parliamentary constituency of Faridabad. The area is accessible through railways by Faridabad New Town and Faridabad stations. Also, there is a metro station nearby, Sarvodaya Hospital. To go through roads, Badkhal and Chennai Delhi highway are the two options. The area is mainly popular for the various residential communities like almwood Estate, Divyalok Housing Society, Parwana Apartments, etc. The other important places in this area are Maharaja Agrasen Mandir, GBN Sr. Sec. School, Sector 21D Market, Apeejay Svran Global School, Comrai Park. People often rely on gold loans in Faridabad Sector 21D for emergencies and business requirements.

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.

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

What are the benefits of a gold loan?

Gold loans require the borrower to pledge their gold against the loan. The value of this gold needs to be at least 30% more than the loan amount being availed. In case of an arrear or a failure to repay the loan, the lender assumes full and permanent ownership of the collateral. Owing to this, availing an online gold loan comes with a lot of benefits that include but arent limited to:

1) Speedy Disbursal

2) High LTV (LOan-Value Ratio)

3) Low-Interest Rates

4) Minimal Documentation

5) Relaxed Eligibility Criteria

6) Waived Processing Fee

7) 100% Insurance Cover

Is it risky to take a gold loan?

Not at all! Gold loans in Faridabad are designed to be one of the most easily affordable forms of credit when you need urgent funds. The ease of application and range of flexibility available when it comes to availing a gold loan in Faridabad is what make sit truly stand out. Since most families are bound to have gold jewelry in some form or the other irrespective of the income status, anybody and everybody can avail it. It is noteworthy that the loan amount and interest rate are subject to change depending on the repayment capacity of the borrower. The lender will ensure that the loan repayment fits well within your debt-income ratio. There is little to no scope of a gold loan becoming risky!
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