We all face cash crunch situations in our life, and an HDFC Gold Loan is a scheme that offers finance to people without any hassle of documentation. It is a loan that requires gold assets to place as security with the lender. The applicant is provided with the amount required in just a few minutes.

About Gold Loan

Gold Loan is the best financial tool that helps an individual to cater the required amount of money without any hassle. A person who is not eligible for any other loan can apply for Gold Finance. Taking Loan against Gold is the best option to overcome all of the financial issues.

About Hyderabad

Hyderabad is the Capital of Andhra Pradesh in India. It is known by the sobriquet Town of Pearl jewelry. It is one of the biggest cities in India with a place of 250 sq mi having a population of 7,749,334 in the city place.

Why Gold Loan from HDFC Bank Hyderabad?

There are no prepayment charges.

  1. It requires minimal documentation as compared to other loans.
  2. Easily available
  3. No credit checks
  4. Simple Procedures
  5. No EMI, service only interest
  6. Minimal Documentation
  7. It does not require any cosigner.
  8. It involves simple procedures and fast Loan approvals.
  9. The applicant has options to pay only interest during the tenure of the loan.
  10. Fast Loan Approval
  11. A person should have a minimum of 20 Gram gold to avail the Loan.
  12. No penalties are involved.
  13. In-house gold evaluation
  14. Available within a time period of 30-60 Mins
  15. You can enjoy a maximum tenure period of 6 to 12 Months.

Features HDFC Gold Loan Hyderabad

  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 Jewelry
  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.

Gold Loan Eligibility Criteria

  1. The minimum loan amount for taking a gold loan is Rs. 25,000. The maximum loan amount will depend upon the weight of the gold, profile of the customer, etc.
  2. Minimum age of applicant: 21 years
  3. Maximum age of applicant at loan maturity: 65 years
  4. Gold jewelry should be owned by the applicant or any of the family members.

Advantages of Taking a Gold Loan 

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

  1. Proof of Identity: Passport Copy/ Voters ID card/ Driving License/Adhaar card/PAN card.
  2. Address Proof: Ration card/ Tel, Electricity Bill/ Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate.
  3. Signature Proof: Passport Copy/Driving License/Banker's verification/cheque.
  4. 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:

  1. Land Proof: In case of Agriculture Loan of more than Rs. 1 lakh Proof is not required for allied agriculture purposes.
  2. A Demand Promissory Note
  3. Certificate by the Jewel Appraiser (Bank will arrange).
  4. Income Proof: Salary Certificate and Form No.16.

The Rate of Interest

The interest rates are very much less as compared to unsecured loans. It takes only 30 minutes to get disbursed. HDFC Bank offers one of the lowest Gold Loan interest rates.HDFC Gold Loan rate of interest varies by the amount of loan.

  1. HDFC Gold Loan interest rate – 10.50% onward
  2. Processing fee 1.5%
  3. Lone Tenure – 3month to 24month
  4. Loan Amount – RS.25, 000 to RS. 50lakh

How to apply for HDFC Gold Loan Hyderabad?

Dialabank assures you the quick, easy and fast process. Apply online for the Gold Loan and grab the best deal today. Unmatchable offers, features, and benefits are available. Apply now and grab the best deal. Visit www.dialabank.com

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To Get an Instant Approval Call us at 95920-46860



 

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