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Ghaziabad
shastri nagar
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0.79%*
monthly Interest (9.69% P.A)*

Gold Loan in shastri nagar

Shastri nagar is situated in the heart of bhopal city and just 5km from bhopal junction. The police housing company of Madhya Pradesh is in this locality. The paryatan bhavan and the office of the hawk force are significant offices in this field. The upper lake is close by, making it an desirable place for people who want to settle in the area. They will secure an immediate loan from local banks. The bhadbhada road links this town with others. Any of the major hospitals in the city are police division hospitals. This region is inhabited by people from all over the world who speak various languages and come from different faiths.
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What is an online gold loan?

An online gold loan is the most straightforward secured loan you can avail when you require instant cash. The easy eligibility criteria and high loan amount make a gold loan one of the most popular loans in India. Usually, lenders approve up to 75% of the gold's market value; although at times, the upper limit may go up to 90%. The final amount would depend on the previous thirty days' average gold price and the quality and Karat of the gold. To avail an online gold loan, the borrower has to download the lender's app or call the customer helpline. After this, a loan officer would schedule a meeting and visit the borrower's residence or office and value the gold. Generally, the loan amount gets transferred to the borrower's bank account within ten minutes of loan approval. The total time from loan application to loan approval can be anything from half an hour to an hour.

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.

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Frequently asked questions

How is the interest rate calculated for gold loans?

Gold loans are one of the most flexible forms of credit. There are several elements to an online gold loan. As a rational borrower, it is important for you to do your research on the various schemes and terms that different lenders offer before zeroing in on one. Loan amount, Loan Interest Rates, Repayment Options, Loan Terms are all factors that vary from lender to lender. You can get in touch with your lender to understand how your gold loan interest rate will be calculated. Your lender will be able to guide you through the terms of your loan in their expert opinion.

What is an LTV?

LTV abbreivated as Loan-to-Value Ratio is the financial term used by the lender to asses the risk of lending you a gold loan in <cityname> by determining the relationship between the loan amount and the value of the pledged collateral. Borrowers can ideally avail up to 75% of the value of the pledged gold as the loan amount. The loan amount that will be obtained by submitting the borrower’s collateral gold can be calculated online. Several lenders, including Rupeek provide this facility online.
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