In India, most of the people prefer to invest in gold rather than other forms of assets. As India is bound to several traditions and cultures, the use of gold never comes to an end, so it is a good option to apply for a Gold Loan. Moreover, this loan has consecutive reducing rates of interests which makes it easier to repay.
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About Gold Loan Bhuj
See as the name suggest it as loaning facility in which an applicant is required to provide gold as a security against the loan amount. The guarantee should be a gold ornament; it could be a gold pendant or a gold earring. In some cases, you can use gold necklace also, but you need to provide consent from the owner as it holds sentimental value. This loan is said to be a secure way of taking a loan amount from the bank. Thus, you need to provide collateral against the loan amount. As a result, banks are more than willing to give the loan amount at lower interest rates.
Gold Loan Bhuj Interest Rates
Gold Loan interest rates usually 1% per month. However, these rates keep on fluctuating from time to time. Besides that, the quality and weight of the gold ornaments also pay a significant role while deciding the gold loan interest rates. The foreclosure penalty ranges from 0-3% of the total loan amount along. When you successfully use this feature, you don’t have to pay the rest of Emi’s and their respective interest rate amount.
Know More - Gold Loan Per Gram
Documents required for availing Gold Loan Bhuj
- Identity Proof: Voters ID card/ Driving License /Passport Copy
- 2 passport size photographs.
- Address Proof: Passport copy/Trade license /Shop & Est. License/Sales Tax certificate/
- Ration card/ Tel, Electricity Bill/ Rental bill
- Signature Proof: Banker's verification/Cheque /Passport Copy/Driving License.
Benefits of taking Gold Loan Bhuj
- See first things first, and a gold loan has the lowest interest rate in comparison to any other loaning scheme on any given loan amount.
- Furthermore, your loan request takes less than 30 minutes to approve this is because gold loan requires minimal documentation making the approval process fast.
- In addition to this, these loans have almost negligible interest rates.
- Furthermore, the principal amount of gold loan is free to use in any way borrower wants.
- The collateral gets safely locked up in companies vault and borrower can get it back once the tenure period ends.
- Besides, this loan has special offers such as Less interest rate on the female customer.
- This loan is available for both salaried and self-employed applicant. Therefore, they can use the loan amount according to their needs.
Know More - Gold Loan Features and Benefits
Eligibility for Taking Gold Loan
- Applicant’s Age must be above 18 years and below 65 years
- Applicant must be an Indian citizen
- Minimum gold must be 10 gm to avail gold loan
- Gold must be between 18 carats to 22 carat
- A gold loan can be availed only on jewelry
Know More - Gold Loan: Factors to Remember
Why one should choose Gold Loan in Bhuj?
- Simple Procedures.
- Fast Loan Approvals.
- Minimal Documentation.
- Easy repayment schemes.
How to Apply for Gold Loan Bhuj Online?
- Firstly, visit our website that is Dialabank
- Secondly, the applicant has to fill a form Online which involve necessary information.
- After this, you will get a call back from our Relationship Manager to clear all doubts as well as to assist you in the entire process of the Gold Loan.
- Next, the applicant can check his /her eligibility for further clarification of the approval of a gold loan.
- Moreover, Submit all the documents need as proofs in the bank.
- Gold loan is approved in some minutes and disbursed within a day.
- Lastly, call us directly for any quires at 9592046860, to clear any doubts.
Know More - Best Gold Loan Services
Bhuj is situated in Kutch district in the state of Gujarat. It was a primary region for one of the first Swaminarayan Sampraday temples. It was struck by a major earthquake in January 2001, which caused a huge damage and loss of life.
FAQs About Gold Loan
How does Gold Loan work?
Loan on gold is very simple to understand. The Banks /NBFC provides you with funds against your gold ornament. The amount depends upon the gold weight.
Gold Loan is secured?
Yes, it is essential to note that the loan on gold comes in the category of secured loans. Because in a gold loan the applicant put their gold ornaments into the bank’s locker as security or as collateral.
What happens when you don’t repay a Gold Loan?
If the borrower is unable to return the gold loan on time, then the bank is liable to sell his gold ornaments.
To get a gold loan do I need a co-applicant?
No, to avail Gold loan you don’t need any co-applicant
Is Gold loan better than a Personal loan?
Yes, a Gold loan is better than personal Loan because in Gold Loan banks/NBFC's takes Gold ornament as well as a gold coin as collateral and in case of Personal loan it is un-secured and hence carries higher interest than a gold loan.
What is the best online platform to avail gold loan?
Dialabank is the best platform to get a loan. Dialabank provides you hassle-free process as well as the lowest interest rate in the market as compared to others.
Is there any fee payable for the Gold Loan?
Yes, you have to pay the loan processing fee (non-refundable) as well as Valuation fee.