The loan that offers money to people by involving gold as collateral is known as a Gold Loan. It is an offer that offers the money according to the market rate of gold. Gold Loan is a multipurpose scheme that can be used for any purpose according to the requirement.
Gold Loan Interest Rates:
Know more- Gold Loan Interest Rate
- It is a quick and fast way to make money.
- The applicant has options to pay only interest during the tenure of the Gold Loan.
- It involves simple procedures and fast Loan approvals.
- It requires minimal documentation as compared to other loans.
- It does not require any cosigner.
- Proof of Identity: Passport Copy/ Voters ID card/ Driving License.
- Address Proof: Ration card/ Tel, Electricity Bill/ Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate.
- Signature Proof: Passport Copy/Driving License/Banker's verification/cheque.
- 2 passport size photographs.
Additional Documents Required
- Land Proof: In case of Agriculture Loan of more than Rs. 1 lac. Proof is not required for allied agriculture purposes.
- A Demand Promissory Note.
- Certificate by the Jewel Appraiser (Bank will arrange).
- Income Proof: Salary Certificate and Form No.16.
Know More - Gold Loan Per Gram
Following are the Features of Gold Loan:
- You can avail Loan up to Rs.1 Crore or more & up to 70% of value for any purpose
- You get 100% Safety & Security of your Gold Jewellery
- Get your Loan processed in less than 30 minutes
- Enjoy Anytime Liquidity.
- No EMI, Service only Interest and enjoy the Loan facility
- Lower Interest Rates
- Simple documentation and fast processing.
- Overdraft limit varies depending on the market rate of gold.
- The interest rate is payable only amount of the overdraft that you use.