Gold Loan

 

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In Rs.

 

 

 

Product Overview

 

Many people buy gold ornaments, jewellery or invest in gold coins, not only as an interest to wear the jewellery, but also for an investment purpose. When a person buys gold, it gives a sense of security to the people that they have made a safe investment. Unlike other investments gold as an investment is considered safe. However, gold bought for securing their future can be used to safeguard their present as well. A person who is in need of some kind of instant finance can apply for a loan on the gold that they have in their house or lockers.

 

  • Quick loan disbursal - same day/in hours.

  • Maximum Loan upto Rs.1 Crore - This differs as per the policy of the banks/FIs.

  • Any type of gold jewellery can be pledged, including gold coins and bars.

  • Interest is paid month-on-month, however the principal can be repaid in lumpsum at the end of the loan tenure.

  • Very less paper work.

  • Any person, salaried / self-employed can avail this loan.

  • All you need is gold to be pledged, in your name, with an ID and an address proof.

  • The applicant's age should be minimum 18 years.

  • Banks/Financial Institutions generally offer a maximum loan of 75% of the value of the gold (on market price as on the day of availment).

  • The loan tenure varies from 12 months -60 months as per the norms of the bank.

  • Coins/bars have more value than ornaments, and stone studded jewellery, because of the purity.

  • Application form duly signed

  • Passport size photographs, ID proof, Age proof & Address proofs

  • PAN card/Form 60

  • Post sanction documentation of the bank/NBFC/Financial Institution.

Documents