Process To Obtain A Gold Loan
This is the process of pledging your gold with the bank and get the loans depending upon the quality of gold and the amount of gold loan needed.
The charge for evaluation is generally borne by the borrower.Once the evaluation and the paper work for mortgage is done Banks will ask you to produce personal documents such as Pan Card, address proof among other things.While the requisite documents for a Gold Loan differ across lenders, most normally require no more than a proof of income or address.
The interest rates between a Gold Loan and a personal loan can differ by as much as 5-8 per cent for the same amount loaned.
The lender will give you a loan which in most cases can be up to a maximum of 90% of the value of the Gold. After having repaid the loan, you get your gold back from the lender.
Considering the advantage a Gold Loan offers in terms of a rent-free locker, a little bit of juggling can even help you save renting a locker for your jewels.
|Leading Gold Loan Providers (Click to Apply)|
|Manappuram Gold Loan||Reliance Gold Loan||Other banks|
|REMINDER SERVICES||EMI CALCULATOR|
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