Are you thinking about taking a loan from the bank but don’t have an excellent banking history? Are you looking for a way to get funds for the new machine for the business? Is your family asking you to buy a new 4k TV but you don’t want to spend your savings? Then we have a solution for you. With a gold loan, you can quickly get the required funds from a bank in no time at affordable interest rates. As you need to provide collateral, this loaning scheme is said to be a secure way of taking a loan amount from the bank. You can use your gold pendants, your gold earrings as collateral against the principal amount of loan.
About Gold Loan Madambakkam
Why are you looking hectic scheme? When you have the jewelry, Loan Against Gold is the best deal that sorts out your financial problems by offering you a fast cash payment. Taking Gold Loan is the best option to overcome all of the financial issues.
Read More - About Gold Loan
Gold Loan Madambakkam Interest Rates
Gold Loan in Madambakkam Eligibility
Know More - Gold Loan: Factors to Remember
Why should one choose Gold Loan in Madambakkam?
Know More - Gold Loan Features and Benefits
Gold Loan Documentation Process
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%|