Are you thinking about buying a new machine to reduce production cost? Is your business is going through some tough times, and you need extra fundings? Is your daughter making plans for studying abroad but you don’t have enough funds? Want to take a loan from the bank but don’t have required CIBIL or credit score? Then we help you. With gold loan Malout  you can quickly get the required loan amount in a short period.

Now you might be thinking how a loaning scheme can help you in obtaining funds for your daughter’s education? See just like a personal loan you are free to use the loan amount in any way you want bank won’t have any expenditure restrictions on the principal amount of credit.

Know More - Best Gold Loan Services

 

About Gold Loan Malout

Are you planning something adventurous but finance is the problem? With the provision of gold loan, you can turn all your dreams into reality. Gold Loan is the best loan option available in the market.  It is a scheme that demands gold assets to pledge as collateral with the lender. The amount is given to the person after a quick evaluation of gold. Taking Gold Loan is the best option to overcome all of the financial issues.

Read More - About Gold Loan

 

Gold Loan Malout 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.
 
 

Gold Loan Malout Eligibility 

  1. Firstly, minimum Age of the Applicant- 18 Years
  2. Likewisem, maximum Age of the Applicant- 70 Years
  3. Minimum Amount you can take by pledging your Gold Ornaments- INR 18000
  4. The minimum amount of Gold for your Cash disbursal of INR 18000 is ten gms
  5. Also,purity of the guaranteed Gold should be between 18 karats to 22 karat
  6. The gold ornaments against which you are asking for a loan should be owned by the borrower or his/her family members.

 

Why one should choose Gold Loan in Malout?

  1. Minimal Documentation.
  2. Easy repayment schemes.
  3. The Loan gets sanctioned in just few minutes.
  4. The money is offered to the customer after a quick evaluation of gold.
  5. It is free from the hassle of long paperwork.

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

 

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

  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 -  Gold Loan Features and Benefits

 

About Malout:

The City of Malout is a municipal council in Muktsar district in Punjab, India. It is situated in southern Punjab. It is a famous town in the cotton belt where production per unit area in India.

Know More - Gold Loan Near Me

 

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%

 

 

 

 

 

 

 

 

 

 

 

 

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.