Gold Loan Ajnala

Gold Loan is basically a loan that a borrower gets against gold. In India, several lending institutions, private banks, and credit unions are available that provide Gold Loan at the low-interest rate. Some of the popular lending institutions in India are Muthoot Finance, Manappuram Finance, HDFC Bank etc. The Gold loan Interest rate is far cheaper than an unsecured loan. 

About Gold Loan

Many times you can face a financial crisis due to a medical emergency or any other financial need. Gold is of great importance in our lives. It plays a major role in providing the support from all of the financial issues in the form of Gold Loan. This loan is available within a few minutes.

Gold Loan Eligibility

  1. First of all the age of the applicant should be more than 18 years.
  2. After that, the maximum age of the applicant can be 70 years.
  3. The applicant should be a citizen if India.
  4. The applicant should have gold more than 10 grams.

Why one should choose Gold Loan Ajnala?

  1. The Loan gets sanctioned in just a few minutes.
  2. The money is offered to the customer after a quick evaluation of gold.
  3. It is free from the hassle of long paperwork.
  4. Low interest rates
  5. No credit cheques.
  6. No co-signer needed.
  7. Easy repayment schemes.

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.

Advantages of Taking a Gold Loan

  1. 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.
  2. Can be provided in cases of bad credit history as well as low-income level.
  3. 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.
  4.  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.
  5. 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.
  6. 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.

 Documents Required for Gold Loan

Borrower Identity

Proof of Identity

Residence Proof

Signature Proof

Two passport size colored photographs

Two passport sizes colored photographs.

Ration card/ Tel, Electricity Bill/ Rental bill/ Passport.

Passport Copy/Driving License/Banker's verification/

cheque

 

Additional Documents Required

The banks generally demand the above-given documents. However few banks demand some additional

Land Proof

Demand Promissory Note

Income proof

In the case of Agriculture Loan of more than Rs. 1 lac. The proof is not required for allied agriculture purposes.

Certificate by the Jewel Appraiser (Bank will arrange).

Salary Certificate and Form No.16.

 

Rate of Interest

Gold loan scheme

Loan Tenure

Rate of Interest

True vale loan

12month

12.05% to 15.05%

Best Rate on Gold Loan

Collateral Required

Loan Tenure

Max Funding

Pre Closure Charges

Gold Jewellery / Gold Bars

6 Months / 12 Months (can be renewed up to 3 Years)

Up to 90% of Gold Value

0 % to 2 % of the outstanding loan amount

How to Apply?

Visit our website

www.dialabank.com 

About Ajnala

The City of Ajnala is a Nagar panchayat in Amritsar district in Punjab, India. Kalian WalaKhuh is martyrs place is a tourist destination in Ajnala.