Why are you looking hectic scheme? When you have the jewelry, Loan Against Gold is the best deal that sorts out your financial problems by offering you a fast cash payment.
Gold Loan Madambakkam Interest Rates
In general Loan on Gold, the credit is available at a low-interest rate. Moreover, the reason behind that the gold loan comes in the category of secured loans. So the Gold interest rates are less than that of personal loan or any other kind of loans. Though the gold loan rate keeps on changing with the passage of time as well as person to person. The Gold Loan Interest Rate is available at 1% per month interest rate.
1. Gold Loan Interest rate - 10.70 %
2. Also, offer low processing fee - 0.85%
3. Further, pre-closer charges range from 0 – 2 %.
4. Besides Tenure minimum six months; maximum five year
5. Lastly Amount - Thousand to a crore
Why should one choose Gold Loan in Madambakkam?
1. Less processing charges.
2. No hidden charges.
3. Fast Loan disbursal.
4. No credit checks.
5. No co-signer needed.
6. Prepayment facility.
7. Flexible preclosure way.
8. Premiums calculated on daily reducing balance
Gold Loan in Madambakkam Eligibility
There are some eligibility criteria defined by the Lender. The Borrower can get a gold loan only if he/she is eligible. Let us discuss them
1. Firstly, the age of the applicant should not be less than 18 years.
2. He/she should be a citizen of India.
3. After that, the applicant should have a minimum of 10 grams of gold.
Gold Loan Documentation Process
1. Firstly, an Proof of Identity is required it can be a PAN Card/Aadhar Card/ Voter ID card/ Driving License/ Passport.
2. Secondly, One proof of residence is also required while applying for a gold loan it can also be an Aadhar Card/ Card/ Voter ID card/ PAN Card/Driving License/ passport/Ration Card/Electricity/water bills of last three months with the name of the applicant.
3. Two colored photographs.
Additional Documentation Process for Gold Loan
The bank/ NBFC's needs a Proof of ownership of Land if you are applying for an Agriculture Gold Loan.
1. Land Proof - In the case of Agriculture Loan on gold of more than Rs. 1 lakh the proof is not required for associated with agriculture purposes.
2. Needed a Demand Promissory Note: (Bank will arrange) Certificate by the Jewel Appraiser.
3. Income Proof of Salary Certificate & Form No.16
The City of Madambakkam is a panchayat city in Kancheepuram district in Tamil Nadu State, India. It borders Selaiyur, Sithalapakkam, and Vengaivasal.