Gold Loan Ajnala

See every once in a while we find ourselves stuck in financial crises. It could be caused by business no yielding optimal turnover, or it could be an urgent requirement of money. Most of the times as we are in a hurry and we don’t make the right decision and end up getting a loan which comes with a high interest rate and has a low investment to value ratio. Gold Loan is basically a loan that a borrower gets against gold. In India, several lending institutions, private banks, and credit unions are available that provide Gold Loan at the low-interest rate.

Some of the popular lending institutions in India are Muthoot Finance, Manappuram Finance, HDFC Bank etc. The Gold loan Interest rate is far cheaper than an unsecured loan. 

Read More - About Gold Loan

About Gold Loan

Many times you can face a financial crisis due to a medical emergency or any other financial need. Gold is of great importance in our lives. It plays a major role in providing the support from all of the financial issues in the form of Gold Loan. This loan is available within a few minutes.

Know More - Gold Loan Per Gram

Eligibility Gold Loan Ajnala

  1. First of all the age of the applicant should be more than 18 years.
  2. After that, the maximum age of the applicant can be 70 years.
  3. The applicant should be a citizen if India.
  4. The applicant should have gold more than 10 grams.

Know More - Gold Loan: Factors to Remember

Why one should choose Gold Loan Ajnala?

  1. The Loan gets sanctioned in just a few minutes.
  2. The money is offered to the customer after a quick evaluation of gold.
  3. It is free from the hassle of long paperwork.
  4. Low interest rates
  5. No credit cheques.
  6. No co-signer needed.
  7. Easy repayment schemes.

Know More - Top Reasons why Gold Loan is the best borrowing option

 Documents Required for Gold Loan

Borrower Identity

Proof of Identity

Residence Proof

Signature Proof

Two passport size colored photographs

Two passport sizes colored photographs.

Ration card/ Tel, Electricity Bill/ Rental bill/ Passport.

Passport Copy/Driving License/Banker's verification/cheque


Why Gold Loan Ajnala is the best loaning option?

  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

  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 has 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 it can be resorted to in times of urgent needs. 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.

Gold Loan Ajnala Rate of Interest

Gold loan scheme

Loan Tenure

Rate of Interest

True vale loan

12month

12.05% to 15.05%

 

 

 

Gold Loan Ajnala Features

  1. Gold Loan is an easy and simple way to get instant finance. It is a 30 minutes disbursal product.
  2. Gold Loan is the best Loan to overcome you're immediate as well as short-term needs.
  3. The documentation process is hassle free and fast.
  4. There are no credit checks needed for this financing
  5. 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.

Know More -  Gold Loan Features and Benefits

How to Apply?

Visit our website

www.dialabank.com 

About Ajnala

The City of Ajnala is a Nagar panchayat in Amritsar district in Punjab, India. Kalian WalaKhuh is martyrs place is a tourist destination in Ajnala.

FAQs About Gold Loan 

  1. 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.
  2.  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.
  3. 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.
  4. To get a gold loan do I need a co-applicant?
     No, to avail Gold loan you don’t need any co-applicant 
  5. 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.
  6. 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.
  7. 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.

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%