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Gold Loan in surathkal

Surathkal is thought to derive its name from the word shiratakal, in tulu, which means headstone. It is an important suburb located in karnataka's northern part of mangalore. Standing on arabian sea shores, surathkal has emerged as a center for education, business and trade. It is home to the karnataka national technology institute (nitk), India's premier technological institution. Surathkal also houses many other educational establishments, including the centre for medical science and research in srinivas. Many students in surathkal use gold loan to get admitted to those reputed institutions. The mangalore refinery & petrochemicals limited (mrpl), mangalore chemicals & fertilizers limited (mcf), and basf are among the main industries based in and around the suburb. The industrial estate of baikampady is just 6 km away, and it houses many factories. The suburb is also known for its scenic surathkal beach and lighthouse surathkal.

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.

Benefits of an online gold loan

An online gold loan offers unparalleled benefits. To avail a gold loan, you need to register yourself as a borrower and mortgage your gold ornaments. The best feature of an online gold loan is that the entire process of the loan application and approval takes place online. Hence, the location of the borrower does not matter. Usually, the lender sends a loan officer to the borrower within half an hour of getting the loan request, who verifies the gold, and gives a quote. On successful verification and subsequent approval, the lender then sends the amount directly to the bank account of the borrower. With an online gold loan, a borrower can get up to 75% of the gold's average market value. As it is a secured loan, the rate of interest is lower than many other types of instant loans. Additionally, a borrower can apply for a gold loan only with the Aadhaar Card.

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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.

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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