Gold Loan Muzzafarpur 

 

Are you in need of quick cash loan? There are many banks and NBFCs which are providing Gold Loans within a short span of time and without any hassle or problems. These loans are secured and require you to put some gold jewelry as security with the banker.

About Gold Loan

Gold loan is the amount of loan that a customer avails from the bank or any other non-banking financial organizations at some rate of interest, but in a gold loan, the customer puts his/her gold in the bank as a security. The gold loan comes in the category of secured loans.

Why one should choose Gold Loan in Muzzafarpur?

  1. No hidden charges
  2. Simple Procedures
  3. Fast Loan Approvals
  4. Easily available
  5. No need of a cosigner
  6. No EMI, service only interest

Gold Loan Scheme

Loan Tenure / Period

The rate of Interest (p.a.)

TrueValue Loan

 12 months

12.5 % to 15.5 %

Features of Gold Loan in Muzzafarpur
  1. You can avail Loan up to Rs.1 Crore or more & up to 70% of 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.

Advantages of Taking a Gold Loan Muzzafarpur

Following are the Advantages of a Gold Loan:

  1. No income and salary criteria- Gold loans do not require any documentation or validation for income or salary of the person. So even if you are unemployed and unsalaried you can still avail a gold loan. This is because you are pledging a valuable asset i.e. gold in return of the money.
  2. Can be provided in cases of bad credit history as well as low-income level.
  3. Relatively Lower interest rates- Another advantage of taking a gold loan is that they are available at low-interest rates, say 12-16% annually in comparison to the personal loans interest rates of 15-26% per annum.
  4.  You need to repay only the interest- You have the option to pay only the interest during the tenure of the entire gold loan and at the end of tenure, you can pay the entire borrowed amount in a single shot.
  5. Total Convenience- The most convenient of all the loans is a gold loan. This is because in this all you have to do is pledge your gold with a bank or a private finance institute and the work is done. You can get a loan up to 80% or more of its market value immediately.
  6. Less processing time- No tedious and lengthy documentation is required in case of gold loans, hence the time can resort. Banks take a few hours in the processing of the gold loan whereas some NBFC’s state that they only take a few minutes for the same task.

Documents Required for Gold Loan

  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

The banks generally demand the above-given documents. However few banks demand some additional documents, which are mentioned below:

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

Gold Loan is the best Loan to overcome your immediate as well as short-term needs. The documentation process for this loan is quite simple. There are no credit checks needed for this financing. A person suffering from bad credit score even avail for a gold loan. The interest rate offered in Loan against gold is less compared to other Loan. To compare the interest rates Click Here.

 Gold Loan is an easy and simple way to get instant finance. It is a 30 minutes disbursal product. Check Gold Loan Interest Rates offered by all the leading banks across the country. Compare the offers and choose the best one. Apply now and get money against your gold within 30 minutes. Gold Loan Interest Rate: Updated Tuesday 16. Oct 2018

Bank

Gold Loan Interest Rate

Get The Best Offer

Muthoot Finance

12.00% - 24.00%

Apply Now

Manappuram Gold Loan

12.00% - 26.00%

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HDFC Bank

10.00% - 15.50%

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ICICI Bank

10.00% - 16.50%

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State Bank of India

13.95% - 14.45%

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Axis Bank

14.50% - 17.00%

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Bank of Baroda

12.00% - 17.25%

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Reliance

15.50% - 16.50%

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Vijaya Bank

14.50% - 17.75%

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About Muzzafarpur

Muzaffarpur is a town in Muzaffarpur district in the eastern state of Bihar in India. It also serves as the headquarters of Muzaffarpur district. It is famous for Shahi leeches and the largest city of northern Bihar.

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