If you are seeking for a loan and want cash urgently then Gold Loan is the best and reliable option for you. With this loan, you can easily avail cash against the ornaments provided by you. This loan can be use3d as multipurpose like medical expense or education expense and many more. Gold loan is the best option when you are looking for immediate cash and don’t want to put anything else as collateral.

The gold loan is also the fastest way to get some money as compared to other loan due to the fact that other loans have a long processing time while gold loan takes only up to 30 to 40 minutes and the credited amount can be used for any personal financial problem like paying medical bills, paying certain outstanding debts, etc. Also, the documentation process is very fast because only essential documents are required for availing the gold loan.

 

About Gold Loan Kotkapura

The moment you think of gold loan your loan will be disbursed. Ensure the safety of your precious gold. There are various schemes available in the market choose the scheme which suits you best in terms of rate of interest and repayment options. Gold Loan is the best loan option available in the market.

Read More - About Gold Loan

 

Gold Loan Interest Rates

1. First of all, The interest rate of this service starts at 10.5%-12% p.a.
2. Secondly, The financial organizations provide these loans for 1 to 4 years.
3. Thirdly, The pre-closure charges are in between 0% to 2% of the value of the loans.
 
 

Eligibility for Availing Gold Loan Kotkapura

  1. The minimum loan amount for taking a gold loan is18,000  Rs.
  2. Minimum age of to avail: 18 years
  3. On the other hand maximum age of applicant at loan maturity: 65 years.
  4. The collateral must weigh at least 10 grams at the time of evaluation.
  5. Gold ornaments need to be owned by the applicant or by any other member of the family.
  6. Also, your collateral’s purity needs to be in between 18 Karats to 22 Karats.

Know More - Gold Loan: Factors to Remember

 

Why one should choose Gold Loan in Kotkapura?

  1. No hidden charges.
  2. Fast Loan approvals.
  3. 100% Safety & Security of your Gold Jewellery.
  4. No EMI, Service only Interest and enjoy the Loan facility
  5. Lower Interest Rates.

Know More -  Gold Loan Features and Benefits

 

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

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

 

Features of Gold Loan

Following are the Features of Gold Loan:

  1. You can avail Gold 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 Gold Loan Interest Rates
  7. Simple documentation and fast processing.
  8. Overdraft limit varies depending on the market rate of gold.
  9. Interest rate is payable only amount of the overdraft that you use.

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

 

About Kotkapura:

The City of Kot Kapura is a historic city some 40 km from Moga, 50 km from Bathinda and 30 km from Muktsar in the Indian state of Punjab. It is the biggest city in the Faridkot. It has a big cotton market, considered one of the best in the world.

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%