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If you need the funds to meet short-term requirements of life like a child's education, marriage, and other financial problems, then you can consider availing a Gold Loan. It is a loan that offers monetary support to people by involving gold as collateral.


Features of Gold Loan 

Following are the Features of Gold Loan:

  1. You can avail Loan up to Rs.1 Crore or more & up to 70% of value for any purpose
  2. You get 100% Safety & Security of your Gold Jewellery
  3. Get your Loan processed in less than 30 minutes
  4. Enjoy Anytime Liquidity. 
  5. No EMI, Service only Interest and enjoy the Loan facility
  6. Lower Interest Rates
  7. Simple documentation and fast processing.
  8. Overdraft limit varies depending on the market rate of gold.
  9. The interest rate is payable the only amount of the overdraft that you use.

Why one should choose Gold Loan in Patiala?

  1. Easily available
  2. No EMI, service only interest
  3. Minimal Documentation
  4. Fast Loan Approvals
  5. No credit checks
  6. No hidden charges
  7. Easy repayment schemes
  8. Simple Procedures

Documents Required for Gold Loan

  1. Proof of Identity: Passport Copy/ Voters ID card/ Driving License.
  2. Address Proof: Ration card/ Tel, Electricity Bill/ Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate. 
  3. Signature Proof: Passport Copy/Driving License/Banker's verification/cheque.
  4. 2 passport size photographs.

 

Proof of Identity

Address Proof

Signature Proof

Land Proof

Income Proof

Passport Copy/ Voters ID card/ Driving License/Aadhar Card.

Ration card/ Tel, Electricity Bill/ Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate

Passport Copy/Driving License/Banker's verification/cheque

Land Proof

Salary Certificate and Form No.16.

 

Advantages of Taking a Gold Loan

Following are the Advantages of a Gold Loan:

No income and salary criteria

Gold loans do not require any documentation or validation for income or salary of the person. So even if you are unemployed and unsalaried you can still avail a gold loan. This is because you are pledging a valuable asset i.e. gold in return of the money.

Can be provided in cases of bad credit history as well as low-income level.

Relatively Lower interest rates

Another advantage of taking a gold loan is that they are available at low interest rates, say 12-16% annually in comparison to the personal loans interest rates of 15-26% per annum.

You need to repay only the interest- You have the option to pay only the interest during the tenure of the entire gold loan and at the end of tenure, you can pay the entire borrowed amount in a single shot.

Total Convenience

The most convenient of all the loans is a gold loan. This is because in this all you have to do is pledge your gold with a bank or a private finance institute and the work is done. You can get a loan up to 80% or more of its market value immediately.

Less processing time- No tedious and lengthy documentation is required in case of gold loans, hence it can be resorted to in times of urgent needs. Banks take a few hours in the processing of the gold loan whereas some NBFC’s state that they only take a few minutes for the same task.

Gold Loan Scheme Loan Tenure / Period The rate of Interest (p.a.)
TrueValue Loan  12 months 12.5 % to 15.5 %

 

   

About Patiala

Patiala is the capital of Maharashtra. It is the most popular city in India. Patiala is entertainment, commercial and financial capital of India. It is the economic hub of India. It is a 4th most populated city in the world.

Other Leading Gold Loan Providers in Patiala
Manappuram Gold Loan Axis Bank Gold Loan HDFC Gold Loan Other Gold Loan Providers

 


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