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Gold Loan Patan
The value of gold in the market has always been tremendous. People keep their Jewelry safe because it assists in the unpredictable moments of life. Gold Finance is the best ever deal for the consumer that provides immediate cash and helps maintain their charm in the society.
Patan was a capital of Gujarat in medieval times. Patan is the administrative seat of Patan District in the Indian state of Gujarat and administered by the municipality. The Patan city has many historical places also.
Why one should choose Gold Loan in Patan?
- No EMI, service only interest.
- No credit checks.
- Minimal Documentation
- Easy repayment schemes
- The Loan gets sanctioned in just a few minutes.
- The money is offered to the customer after a quick evaluation of gold.
- Less processing charges
- No hidden charges.
- Fast Loan disbursal
- No credit checks.
- No co-signer needed.
- Prepayment facility
- Flexible pre-closure way
- Premiums calculated on the daily reducing balance
12.5 % to 15.5 %
Gold Loan Scheme
True Value Loan
Loan Tenure / Period
Minimum Tenure: 6 months
Maximum Tenure: 24 months
Features of Gold Loan
- You can avail Loan up to Rs.1 Crore or more & up to 70% of value for any purpose
- You get 100% Safety & Security of your Gold Jewelry
- Get your Loan processed in less than 30 minutes
- Enjoy Anytime Liquidity.
- No EMI, Service only Interest and enjoy the Loan facility
- Lower Interest Rates
- Simple documentation and fast processing
- Overdraft limit varies depending on the market rate of gold.
- The interest rate is payable the only amount of the overdraft that you use.
Advantages of Taking a Gold Loan in Patan
- 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 the 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.
Documents Required for Gold Loan
- Proof of Identity: Aadhar Card/PAN Card/Passport Copy/ Voters ID card/ Driving License/Adhaar card/ PAN card.
- Address Proof: Aadhar Card/PAN Card/Ration card/ Tel, Electricity Bill/ Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate.
- Signature Proof: Passport Copy/Driving License/Banker's verification/cheque.
- 2 passport size photographs
Additional Documents Required
The banks generally demand the above-given documents. However few banks demand some additional documents, which are mentioned below:
Land Proof: In case of Agriculture Loan of more than Rs. 1 lakhs, the proof is not required for allied agriculture purposes.
A Demand Promissory Note
Certificate by the Jewel Appraiser (Bank will arrange).
Income Proof: Salary Certificate and Form No.16.
Best Rate on Gold Loan
Gold loan offers you the best interest rate among any other Loan. You can avail for the best interest Gold loan. The feature that differentiates Loan against gold from any other loan is that it is sanctioned within a few minutes. The documents required for this financing is quite simple. Many banks even provide easy repayment techniques.
Collateral required – Gold jewelry / Gold bars
Max. Funding – up to 90% Gold value
Pre closer charges – 0% to 2% of the outstanding loan amount
How to Apply?