What is a Gold Loan?

The gold can be an asset for you to earn the funds, instead of keeping it as the idol.

The banks and NBFCs are willing to pay the loans on the gold.

The lenders provide the value of the gold in the loans and keep the gold deposits safe with them.

Gold Loan Interest Rates:

Check the Interest Rates for Gold Loan.

Gold Loan Scheme

Loan Tenure / Period

Rate of Interest (p.a.)

TrueValue Loan

 12 months

10.5% to 15.5 %

 

Why should one choose Gold Loan in Anantnag?

The pre-closure facility is available in these loans.

The counting of the documents, which are used in these loans, is minimum.

The least amount provided in these loans is Rs. 18,000/-.

There are no penalties on these loans.

Eligibility

Age

Minimum: 18 year

Maximum (at loan maturity): 60 year

Gold requirements

Minimum 10 gram of gold

Loan Amount

Minimum: 15k

Maximum: No Limit

Citizenship

Indian

Employment Status

Salaried

Self-employed 

Documents Required:

Documentation

Borrower Identity

Two passport size colored photographs

Proof of Identity

Passport Copy/ Voters ID card/ Driving License/Adhar card/ PAN card.

Residence 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

Additional Documents Required

Additional Documentation

Land Proof

In the case of Agriculture Loan of more than Rs. 1 lac. The proof is not necessary for allied agriculture purposes.

Demand Promissory Note

Certificate by the Jewel Evaluator(Bank will arrange).

Income proof

Salary Certificate and Form No.16.

Features of Gold Loan:

Following are the Features of Gold Loan:

  1. The amount of Rs. 1 Crore can be availed in these loans.
  2. The gold collaterals will remain safe and sound with the lenders.
  3. The loans are forever available.
  4. The low interest rate is available on these loans. If these loans are used for agricultural purposes then these loans can be of lower rates of interest.
  5. Vey fewer documents are required for these loans.
  6. The processing of these loans can be done in hours.
  7. The overdraft facility is also used.

About Anantnag

Anantnag also called as Islamabad by the Kashmiri Muslims, is the city and headquarters of the district. The population of the city is 1,09,433 (Census 2011). The city is the economic hub of the surrounding area. The city is one of the top 100 fastest growing cities.