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Gold Loan in Thaltej

Between SG Highway and Sardar Patel Ring Road, the well built suburb of Thaltej in Ahmedabad is located. The neighborhood is located away from the hustle-bustle of central city life and is blessed with natural greenery, mainly a suburban district. The inclusion of villas, bungalows, and multi-storey flats, all packed with luxury amenities, makes the area a huge attraction for home-seekers. People also opt for gold loans in Thaltej to book their dream homes. Among the prominent roads that have simple connections to the area are Drive In Road, Thaltej Road, and Sindhu Bhavan Marg. The civic infrastructure of the city is made up of esteemed hospitals, colleges, restaurants, commercial centres, etc. At Ahmedabad One Market, The Acropolis Market, Gulmohar Park Mall, and Iscon Mega Mall, all situated within 5 km of the city, shopaholics can enjoy themselves.

Benefits of an online gold loan

When you require emergency funds or urgent loans, a gold loan is one of the most flexible and hassle-free loans that you can acquire. A few of the benefits that are exclusive to gold loans are listed below:

  1. Low loan interest rates - the interest rates are less because of the security of the collateral.
  2. Minimal documents – the only documents that the borrower is expected to submit are the address proof and identity proof
  3. High-value loan – up to 75% of the market value of the gold can be obtained as the loan and in some cases, up to 90%.
  4. No upper limit – the amount that you can obtain is determined by the value of the pledged gold.
  5. No requirement of income proof – the borrower can be unemployed or have an irregular income and still get a gold loan.
  6. No requirement of credit history – the borrower can have a poor credit score or CIBIL score and still be eligible for the loan.
  7. Flexibility – a secured loan is more flexible than other sources of income. The borrower has a variety of repayment schemes to choose from.
  8. Speed – the whole transaction, from the loan application to the disbursement of the funds takes place within an hour.

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

Is a CIBIL score required for a gold loan?

CIBIL scores arent always required while you are applying for a loan. One of the several perks of subscribing to an online gold loan is that it does not require a stellar credit history. The borrower's credit score is not an integral element of the eligibility criteria. All one requires to avail of a gold loan is collateral and a few basic KYC documents. The said basic documents comprise of basic identity and address proof. Sometimes, lenders even approve loans just based on the Aadhar Card.On the other hand, in the case of an unsecured loan, the borrower has to submit their CIBIL score as a mark of their financial health.

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

A gold loan only requires you to submit KYC documents for verification before the loan can be processed and disbursed. This includes ID proof and address proof, which can be a driver’s license, Aadhar card, voter ID, PAN card, or passport. Along with this, a utility bill or lease agreement must be provided. One of the main advantages of a secured loan is the minimum documents that it requires. It means that the loans are easy to procure as well as flexible, thanks to the relaxed eligibility criteria. While other sources of funds, such as unsecured loans demand several documents to prove your financial health, a secured loan can be obtained with just the Aadhaar card.
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