Are you thinking about taking a loan for funding a new machine for your business? Looking for an investment which comes with low-interest rate along with flexible repayment options? Getting intimidated by so many different loaning schemes and don’t know which one is the best option for you? Then we have just the right thing for you. With a little help from our side, you can quickly get rid off from all your financial worries in no time. As you need to provide collateral, this loaning scheme is said to be a secure way of taking a loan amount from the bank. You can use your gold pendants, your gold earrings as collateral against the principal amount of loan.
Know More - What happens when you don’t pay a Gold Loan?
What is Gold Loan Abohar?
Gold Loan is a financial product offered almost by every bank in India. Besides banks, there are other nonbanking financial companies as well that provides a gold loan. Besides that Gold Loan comes in the category of secured loans because the bank keeps the customer’s gold ornaments as security. The loan amount ranges from 20,000 Rs to 1 Crore making it one of the most versatile loaning scheme of all time.
Read More - About Gold Loan
Eligibility for availing Gold Loan Abohar
- Minimum Age of the Applicant- 18 Years
- Maximum Age of the Applicant- 70 Years
- Minimum Amount you can take by pledging your Gold Ornaments- INR 18000
- The minimum amount of Gold for your Cash disbursal of INR 18000 is ten gms
- The purity of the guaranteed Gold needs to be in between 18 karats to 22 karat
- The gold ornaments against which you are asking for a loan should be owned by the borrower or his/her family members.
Gold Loan Abohar Interest Rates
Though the gold loan interest rates keep fluctuating time to time still, the gold loan is available at 1% per month interest rate. Also, the processing fee ranges from 0-3%, and you can close the loan before the tenure period by providing the foreclosure charges which stays in between 0-2% of the total loan amount.
Know More - Gold Loan Interest Rate
Documentation required for availing Gold Loan Abohar
- Identity Proof (Aadhar Card/ Driving License/ Passport Copy/ Voters ID card).
- Proof of Address (Ration card/ Tel, Electricity. Bill/ Rental Agr. / Passport copy/ Trade license /Shop & Est. License/Sales Tax certificate).
- Signature Verification Proof (Passport Copy/Driving License/Banker's verification/cheque)
- Two passport size colored photographs.
Why one should choose Gold Loan in Abohar?
- No EMI, service only interest.
- No credit checks.
- Minimal Documentation.
- Fast Loan Approvals.
Know More - Gold Loan Features and Benefits
|Gold Loan Scheme||Loan Tenure / Period||Rate of Interest (p.a.)|
|TrueValue Loan||12 months||12.5 % to 15.5 %|
Abohar is a city in Fazilka district of Punjab. It is famous for being one of the biggest cotton producing belt in north india and Kinnow.It is leading place in Punjab for agriculture research of region.
|Other Leading Gold Loan Providers in Abohar|
|Manappuram Gold Loan||Axis Bank Gold Loan||HDFC Gold Loan||Other Gold Loan Providers|