Gold Loan is also known as a loan against gold. In the case of financial problems, every person tends to get a financial help from the bank or nonbanking financial company. Simply this is called Gold Loan Batala. Almost every bank provides a loan to the customers. This can be a personal loan or gold loan. Both types of loans help the customers to overcome the financial problems but people are more prone to get a gold loan because of its low-interest rates.
Read More - About Gold Loan
About Gold Loan
Loan Against Gold can lift you up during challenging situations. This loan doesn’t depend upon the salary of the consumer. Pledge your ornament to the financial institutes and get immediate money.
Gold Loan Batala Interest Rates
Gold Loan interest rates usually 1% per month. Moreover, before you get yourself a gold loan, you should know that you can get your gold ornament back before the loaning tenure by using foreclosure feature. You can use this facility and pay the foreclosure charges along with pending loan amount. The foreclosure charges range from 0-3% of the total loan amount.
Why one should choose Gold Loan in Batala?
- Fast Loan Approvals.
- Easily available and disbural is done in less than 24 hours.
- Easy repayment schemes.
- No hidden charges.
- Simple Procedures.
Eligibility for Availing Gold Loan Batala
- First of all the age of the applicant should be more than 18 years.
- After that, the maximum age of the applicant can be 65 years.
- The applicant should be a citizen if India.
- The applicant should have gold more than 10 grams.
Documentation required for taking Gold Loan Batala
- 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
- The banks generally demand the above-given documents. However few banks demand some additional documents, which are mentioned below:
- Land Proof: In case of Agriculture Loan of more than Rs. 1 lac. The 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.
Features of Gold Loan Batala
- The cost of Rs 1 Crore can be approved in these loans.
- The gold objects are much more secure in lockers of the banks and NBFCs than your lockers.
- The loans can choose any time of the lifespan to take these loans.
- The agriculture uses of these loans have lower rates of interest.
- The documents which the banks and NBFCs ask are less in numbers.
- The loans have only a few hours as the processing, fastest of all.
- The banks and NBFCs offer the facility of over drafting, which can be an asset for the applicants.
Know More - Gold Loan Features and Benefits
How to Avail Gold Loan Batala Online?
- Firstly, visit our website that is Dialabank
- Secondly, the applicant has to fill a form Online which involve necessary information.
- After this, you will get a call back from our Relationship Manager to clear all doubts as well as to assist you in the entire process of the Gold Loan.
- Next, the applicant can check his /her eligibility for further clarification of the approval of a gold loan.
- Moreover, Submit all the documents need as proofs in the bank.
- Gold loan is approved in some minutes and disbursed within a day.
- Lastly, call us directly for any quires at 9592046860, to clear any doubts.
The City of Batala is a municipal council in Gurdaspur district in Punjab State in India. It is situated about 30 km from Gurdaspur and the headquarters of the district.
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.
Gold Loan Interest Rate of Different Banks - Updated on 2019
|Bank||Gold Loan Rate|
|SBI Gold Loan||11.50%|
|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%|
|PNB Gold Loan||12.25%|