Are you in need of urgent money? Are you facing a sudden medical emergency or need cash immediately to tackle any financial crisis? Then the Gold loan might be the best option for you. Only you need 10 gm of gold and some basic documents. After evaluation of your gold in the bank, your loan amount will be credited into your account. Also, your valuable gold is kept safe in the sealed locker of the bank. Usually, a person needs money urgently on the same day. Applying for other loans may consume time. But Gold Loan is the best loan option to get instant finance without any hassle and less paperwork.
Read More - About Gold Loan
What is a Gold Loan?
Gold loan is a secured loan where the customer pledges his/her gold to the bank or non-banking financial company and gets the amount of loan for a given tenure since the gold loan comes in the category of the secured loan, so the rates of interest are quite low as compared to the personal loan.
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Gold Loan In Hyderabad Interest Rates
In the case of Gold Loan, the credit is available at a low interest rate. This is because the loan on gold comes in the category of secured loans. Moreover, the interest rate of gold is less than that of other loans. Though the Gold Loan rate keeps on changing with the passage of time as well as person to person. Gold Loan in Hyderabad is available at 1% per month interest rate.
1. Gold Loan Interest rate - 10.70 %
2. Also, offer low processing fee - 0.85%
3. Moreover, Pre-closer charges range from 0 – 2 %.
4. Besides Tenure minimum of six months; maximum five year
5. Lastly Amount - Thousand to a crore
Know more about - CIBIL Score
Gold Loan Rate per gram
Amount of Gold Loan
Muthoot provides Gold Loan starting from Rs. 50000 and can be up to Crore. The amount of Gold loan depends upon the purity as well as the quantity of gold ornament. The loan amount per 10 grams, as well as Muthoot Gold Loan Rate per gram, are discussed below -
For 18 Carat Gold :
Amount of Loan Disbursed- Rs. 16,000.
Loan Amount of Gold Per Gram - Rs. 1,600
For 19 Carat Gold
Amount of Loan Disbursed- Rs.17,000.
Loan Amount of Gold Per Gram- Rs.1,700.
For 20 Carat Gold
Amount of Loan Disbursed- Rs 18,000.
Loan Amount of Gold Per Gram- Rs 1,800.
For 21 Carat Gold
Amount of Loan Disbursed- Rs 19,000.
Loan Amount of Gold Per Gram- Rs 1,900.
For 22 Carat Gold
Amount of Loan Disbursed- Rs 20,800.
Loan Amount of Gold Per Gram- Rs 2,800.
Note - 24 Carat gold is not accepted for availing a Gold Loan.
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Gold Loan Hyderabad Benefits
- Interest rates are very low.
- The process is hassle-free.
- Less paperwork is required.
- One can get the maximum amount of loan according to the value of their gold.
- The loan is sanction very transparently.
Know More - Gold Loan Features and Benefits
Gold Loan in Hyderabad Eligibility
- Firstly, The age of the customer should not be less than 18 years.
- Secondly, The applicant should be a citizen of India.
- The applicant should have gold in an appropriate form.
- The quality of the gold should be 18 karats to 22 karats.
To Get Gold Loan in Hyderabad Documents Required
- Identity Proof: Verification documents required should be specifically among the following: Voter ID /Ration card /Aadhaar card /Valid Passport
- Signature Proof: The documents required as signature proof includes: Passport Copy/Banker’s verification/cheque
- Residence Proof: The documents required as proof of residence are: Telephone Bill/ Electricity Bill/ Rental bill /Trade license/Aadhaar card /Shop & Est., License/Sales Tax certificate.
- Documents required for the farmers are namely: Land Proof and Income proof
- Other: Two passports sized coloured photographs.
Hyderabadis the capital of Telangana state as well as the capital of Andhra Pradesh , India. It is effortless to get a Gold loan in Hyderabad,Just you have to fill above form afterthat we call you back with latest offer . For more details Call ud 9592046860.
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.
Know More About Gold Loan
- What is CIBIL Score?
- 3 Best Methods Repaying Gold Loan
- 4 Different Ways of Repaying Your Gold Loan
- Gold Loan Interest Rate
- What happens when you don’t pay a Gold Loan?
- Gold Loan From Top banks And NBFCs in India
- Gold Loan Near Me
Gold Loan Interest Rate of Different Banks - Updated on 2019
* For any assistance regarding Gold Loan, call us on 95920-46860, our trained Relationship Managers will solve all your queries.