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

Gold Loan in sri nagar

Sri nagar kakinada's most famous sites are its janmabhoomi park, neelakhanteswara swamy temple, ysr statue historic landmark, vivekananda park, sattemmatalli temple, and other nearby civic and treasury parks. Janmabhoomi park is situated here, at the rear of ishwarya grand. Local markets draw small-scale industries with furniture, utensils, garments, electronics, technical machinery and agricultural techniques to the rural residents. The community primarily lives on agriculture, small businesses, and tourism. Srinagar is a rural semi-village. The streets are well separated and are linked to main road. Many of the people who live here are job holders. gold loans in sri nagar are making people arouse better financial prospects. This township contains private houses and well-constructed residences.

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Documents required for an online gold loan

When a borrower needs urgent cash, an online gold loan acts as a blessing. With an online gold loan, you can get up to 75% of the gold's average value as the loan, instantly. Before approving the loan, the lender might ask you to submit a few documents, which the lender uses to determine your eligibility. The first document that you need to submit is an identity proof, like voter ID, PAN Card, Aadhaar Card, Passport, or driving license. The second document you need to submit is an address proof. Except for the PAN and Voter ID, all other documents mentioned above function as the address proof. Many reputed lenders also offer the facility to apply for a gold loan only with the Aadhaar Card. As the Aadhaar card contains all your personal details, like name, date of birth, father's/mother's name, address, and biometric information and iris scan, it functions as both the identity proof as well as the address proof.

Eligibility criteria for an online gold loan

As far as forms of credit go, online gold loans provide a range of peerless flexibility! Here are some of the basic eligibility criteria that you need to meet if you are looking to avail an online gold loan-

1) Since lenders prefer disbursing loans to borrowers that are domiciled within the same geographic boundaries as theirs, you will have to be of Indian nationality and residing in India to avail a loan.

2) You must be an independent major, that is of the age 18 or above

3) Since, usually, Indian lenders do not approve gold coins or bars, the collateral you are looking to secure your loan with has to be gold in the form of jewelry or ornaments.

4) The jewelry you are looking to pledge must be 18 Karat or above (Karat is the measure of the purity of gold)

It is noteworthy that the loan amount you are eligible to receive is bound to vary from the market gold rate. This is due to the fact that lenders don't go by the current market price and instead arrive at the average gold rate based on the rate from the past 30 days. 

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Frequently asked questions

Can I get immediate cash with gold loan?

Yes, you can. Compared to other loans such as personal loans, housing loans, or auto loans, gold loan is the most convenient type of loan where the cash processing time is short. If you want to borrow a loan rendering immediate cash then applying for a gold loan online is probably the best option available in the market, as gold loans are, by far, the most immediate loans. Once you go to the website of the lender and fill out the application form, the gold loan process will be initiated on the lender's end by checking your credit score, KYC procedure and the money will be credited in your bank account almost instantly. 

Can I get an interest-free gold loan?

No, a zero-interest gold loan does not exist in the country. This is because, like any other financial institution, a gold loan lender is also looking to earn profits out of the business. The interest that is charged by the lender on the gold loan in East Godavari is what constitutes their profit. Lower interest rates are what attract a borrower towards a lender and for this reason, lenders compete to offer the lowest interest rates in the market. The interest rates depend on a variety of factors that include the loan term, the loan amount, etc. Since different lenders offer different interest rates mist online gold loan lenders provide a gold loan calculator online where the borrower can calculate the interest rates and make an informed decision regarding the procurement of the gold loan in East Godavari.
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