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Gold Loan Mangaldoi
Gold is counted as one of the costly metals these days. However, the cost of gold is touching the sky day by day in the market. This gold lying ideal in the lockers can prove very useful as one can apply for Gold Loans. These are the loans that are offering monetary support to people in times of need.
The town of Mangaldoi is a municipal board in Darrang district in the Indian state of Assam. It is the headquarters of the Darrang district. Mangaldoi is situated at the north bank of Brahmaputra River.
Why one should choose Gold Loan in Mangaldoi?
- A person should have a minimum of 20 Gram gold to avail the Loan.
- No penalties are involved.
- In-house gold evaluation
- Available within a time period of 30-60 Mins
- You can enjoy a maximum tenure period of 6 to 12 Months.
12.5 % to 15.5 %
Gold Loan Scheme: True Value Loan
Loan Tenure / Period:
Minimum Tenure: 6 months
Maximum Tenure: 24 months
- You can avail Loan up to Rs.1 Crore or more & up to 70% of value for any purpose
- You get 100% Safety & Security of your Gold Jewellery
- Get your loan processed in less than 30 minutes
- Enjoy Anytime Liquidity.
- No EMI, Service only Interest and enjoy the Loan facility
- Lower Interest Rates
- Simple documentation and fast processing
- Overdraft limit varies depending on the market rate of gold.
- The interest rate is payable the only amount of the overdraft that you use.
Advantages of Taking a Gold Loan
- No income and salary criteria - Gold loans do not require any documentation or validation for income or salary of the person, so even if you are unemployed and unsalaried you can still avail a gold loan. This is because you are pledging a valuable asset i.e. gold in return of the money.
- Can be provided in cases of bad credit history as well as low-income level
- Relatively lower interest rates - Another advantage of taking a gold loan is that they are available at low-interest rates, say 12-16% annually in comparison to the personal loans interest rates of 15-26% per annum.
- You need to repay only the interest - You have the option to pay only the interest during the tenure of the entire gold loan and at the end of tenure, you can pay the entire borrowed amount in a single shot.
- Total Convenience -The most convenient of all the loans is a gold loan. This is because in this all you have to do is pledge your gold with a bank or a private finance institute and the work is done. You can get a loan up to 80% or more of its market value immediately.
- Less processing time -No tedious and lengthy documentation is required in case of gold loans, hence it can be resorted to in times of urgent needs. Banks take a few hours in the processing of the gold loan whereas some NBFC’s state that they only take a few minutes for the same task.
Documents Required for Gold Loan
- 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 lakh 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.
Best Rate on Gold Loan
Gold loan offers you the best interest rate among any other Loan. You can avail for the best interest Gold loan. The feature that differentiates Loan against gold from any other loan is that it is sanctioned within a few minutes. The documents required for this financing is quite simple. Many banks even provide easy repayment techniques.
Collateral required – Gold jewelry / Gold bars
Max. Funding – up to 90% Gold value
Pre closer charges – 0% to 2% of the outstanding loan amount
Gold Loan Procedure:
Step 1. A borrower needs to submit a short application form to the Lender with Gold assets.
Step 2. The lender analyzes the assets offered by the applicant (including the purity and weight of gold).
Step 3. The Loan is sanctioned after checking the authenticity of the gold.
*The whole process takes 10-15 minutes or an hour.
How to Apply?
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