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. Acquiring Gold Loan is the best way of getting fund for a shorter span of time. Get Instant Cash in just 45 minutes against your Gold Jewellery rather than keeping it idle at home and fulfill your requirements.  This loan is secured against gold ornaments. Borrowers deposit their gold with the lending banks and get money on the value of that gold. Turn your Gold into Cash rather than keeping it idle at home. 

Gold Loan Chandigarh Interest Rates: 

In general loan on gold, the credit is available at a low interest rate. Moreover, the reason behind that the gold loan comes in the category of secured loans. So the Gold interest rates are less than that of personal loan or any other kind of loans. Though the gold loan rate keeps on changing time to time as well as person to person. 
1. The gold loan is available at 1% PM interest rate.
2. Gold Loan Interest rate - 10.70 %.
3. Moreover, offer low processing fee that is  0.85%.
4. Further, pre-closer charges range from  0 – 2 %.
 
 

Why should one choose Gold Loan in Chandigarh?

  1. Pre-closure facility.
  2. Less paperwork.
  3. A person can avail a minimum Gold Loan amount from Rs 18,000 and onwards.
  4. A person should have a minimum of 10 Gram gold to avail the loan.
  5. No penalties are involved.
  6. In-house gold evaluation.

Documents Required:

  1. Proof of Identity: Passport Copy/ Voters ID card/ Driving License.
  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

  1. Land Proof: In case of Agriculture Loan of more than Rs. 1 lac. A 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.

Know More - Gold Loan From Top banks And NBFCs in India

Features of Gold Loan:

Following are the Features of Gold Loan:

  1. You can avail Loan up to Rs.1 Crore or more & up to 70% of the value for any purpose
  2. You get 100% Safety & Security of your Gold Jewellery
  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.

Know More - 5 Must factor to keep in mind before availing a Gold Loan

About Chandigarh

Apart from being a union territory, Chandigarh is also the capital of Punjab and Haryana. According to a survey, this city tops the list of all the states and union territories in Per capita Income. This city is very lively, and it is growing at a very rapid pace. There are many beautiful destinations in the city such as Sukhna Lake, Rock garden, Government Museum, and Art Gallery, Rose Garden, Butterfly Park and the very famous city center sector -17.

Gold Loan Interest Rate of Different Banks - Updated on 2019

 
Bank  Gold Loan Rate 
HDFC Bank 10.75%
Yes Bank  10.85%
Axis Bank 10.90%
SBI Gold Loan 11.50%
ICICI Bank 11.75%
IIFL Gold Loan 11.75%
Allahabad Bank Gold Loan 11.75%
Muthoot Gold Loan 12.00%
Federal Bank Gold Loan 12.00%
Manappuram Gold Loan  12.25%
IDBI Bank 12.25%
PNB Gold Loan 12.25%