ELIGIBILITY FOR GOLD LOAN IN gurgaon
If you are between the ages of 18 and 65, a salaried professional, self-employed person, business owner, entrepreneur, student, or senior citizen, you may be qualified for a gold loan.
Tenure of the loan:
The loan repayment tenure for gold loans typically ranges from 6 to 24 months, and you should be able to repay the loan within this period. At indiagold the tenure of the gold loan is of of 6 months, which can further be extended after 6 months.
Purity of loan:
The kind of gold that banks accept must be mentioned when discussing eligibility for gold loans. Most banks only accept gold jewellery with a purity level of 18K to 22K.
Another crucial element in establishing someone's eligibility for a Gold Loan is their line of work. Professionals on salaries, self-employed people, business owners, entrepreneurs, students, elders, pensioners, and housewives can all apply for the loan.
Salaried and self-employed each are eligible. Businessmen are more and more taking gold loans to meet their working capital requirements. In fact, housewives, senior residents who are no longer eligible for different loans due to the fact they have no profits proofs can without problems avail of gold loans.
Track record of employment:
In order to approve you for a gold loan, banks no longer consider your work or business balance. Loans for gold are given out without showing a profit. To apply for this loan, you only need to provide your basic KYC documents, which include evidence of address, identification, and an Aadhaar card.