Process To Obtain A Gold Loan
This is a process of pledging your gold with the bank and get the respective funds 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 and 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 difference in Interest Rates of a Gold Loan and a personal loan can be as much as 5-8 per cent for the same amount.
The lender may provide you with a loan amount of upto 90% of the value of the Gold. After having repaid the loan, you will 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|
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Should you opt for gold loan from a bank or an NBFC?
When you apply for Gold Loan, the first question that comes to your mind is why gold loan, when there are other options which can offer you the required funds. The answer to this question is the ease and convenience with which this loan is processed and disbursed that score over other loan options. Also, it is offered at much lower interest rates as compared to unsecured loans. The reason behind the easy and simple processing of this loan is that being secured loan financial co... read more
Gold Loans: Convenient and Easy...!!!
Your Precious Gold Ornaments are Safe with Gold Loans...!!! GOLD LOAN is given in opposition to Gold. Most private banks, National banks and other financial institutions provide these loans at appealing rates. Some people take this loan to meet short term requirements like Daughter’s wedding, Children education and other financial needs. Some people think, rather than keeping gold at the house it would be better to take Loan against Gold. read more
Banks still preserve their edge over NBFCs in Gold Loan Race
GET THE CHEAPEST GOLD LOAN IN JUST 5 MINUTES Call us on 60011600 (Single Number across 18 Cities)
RBI Increased NBFCs Gold Loan Limit to 75 per cent
Mumbai Jan 9 : People who want to avail Gold Loan can borrow more as Reserve Bank of India on Wednesday allowed Non Banking Financial Companies to lend up to 80 percent of the amount of metal with an increase of 20%. RBI said, "It has been decided to raise the LTV (Loan-To-Value) ratio to up to 80 per cent for loans against the collateral of gold jewelry from the present limit of 60 per cent with immediate effect".