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Gold Loan in Shyam Nagar

Every corner of Jaipur and its nearby areas is well linked to this residential hotspot: Shyam Nagar which is specifically linked via the Shyam Nagar Metro and roads such as Jan Street, New Sanganer Road, Ajmer Road, and Gopalpura Bypass Road. In Kanakpura is the nearest railway station at 11 km away. Areas such as Ram Nagar, Ganesh Nagar, Devi Nagar, Hawa Sadak, and Nirman Nagar are bordering Shyam Nagar. Besides, the International Airport of Jaipur is less than 11 km away. Little Angels Academy, St. Xavier's Public School, Government Secondary School, Vardhman International Pre School, and Rawat Senior are the accredited academic institutions in and around the vicinity. The community is also close to Ajmer Road, the base of numerous multinational IT companies. A gold loan in Shyam Nagar is by far the most common and the easiest mortgage alternative.

What is an online gold loan?

An online gold loan is the most hassle-free form of instant credit. It owes its popularity to the array of flexible features it comes with. It comes with extremely relaxed eligibility criteria, high loan amounts at low-interest rates! Sounds like the perfect package doesn't it? Well, it gets better. There is no set upper limit on your loan amount. This completely depends on the value of your gold. Ideally, lenders approve up to 75% of the market value of the collateral. However, at times it can even go up to 90%! It is noteworthy that this market value does not refer to the prevailing market price. The lender arrives at the gold valuation by taking an average of the gold gram rate from the past 30 days. The borrower can avail the loan right from the comforts of his/her home by downloading the app and placing a loan request using just the Aadhar card as document proof! A lender appointed representative will then visit the borrower's house for gold valuation and post which the loan amount will be transferred within 10 minutes. The entire process end-end takes only about an hour!

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

Is there any age limit to avail a gold loan?

Each lender follows a different age limit criteria for people that are applying for a gold loan in Jaipur. Some lenders require the borrower to be a minimum of 18 years while some others require the borrower to be 21 years of age. Some have a limit of 65 years while others have 75 years as the age limit. However, largely, if you are an Indian citizen, above the age of 18 and possess the required KYC documents and gold amount, you can avail a gold loan. The eligibility criteria for a gold loan is less compared to other sources of funds. As long as you are above 18 years of age, and the gold that you are providing as collateral is above 18 karat gold, you are eligible to get a gold loan. The gold that you pledge as collateral can only be in the form of ornaments or jewelry. 

What are the documents that I need to submit while applying for a gold loan?

Gold loans come equipped with several benefits. One of the most important factors that make gold loans so flexible is the fact that it only requires minimal documentation to be eligible for a gold loan. The only KYC documents required are any form of proof of identification and address proof. This includes:

1) Aadhar Card

2) PAN Card

3) Voter's ID

4) Passport

5) Utility Bill

6) Lease/Rental Agreement

 This minimal documentation requirement makes it easy to avail gold loans. Unsecured loans demand several documents to prove your income profile whereas a secured loan can be obtained with just the Aadhaar card.

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