Interest in taking a loan from the bank but don’t have enough credit? Looking for a way to fund your daughter’s college fee without spending your savings? Is your business going through a rough time and you need extra financial help? We are here to help you. With Gold Loan Kolhapur you get enough funds to make your financial problems go away. 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 Kolhapur
Many of us have been once through some kind of commercial or personal difficulties some day or other. In such critical situations, Gold Loans can be the right source to arrange finances. These are the offer that offer you monetary help and demands you to place some gold ornaments as collateral with the lender.
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Gold Loan Kolhapur Interest Rates
10.70% is the minimum annual interest rate you can expect on these loans. As a result, the monthly rate of interest becomes less than 1%. It also comes with foreclosure facility meaning you can close the loan amount before the tenure ends allowing you to skip the remaining Emi’s and their respective interest rates. The foreclosure charges range from 0-3% of the total loan amount.
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Eligibility for Availing Gold Loan Kollapur
- First of all the age of the applicant should be more than 18 years.
- After that, the maximum age of the applicant can be 70 years.
- The applicant should be a citizen if India.
- The applicant should have gold more than 10 grams.
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Why one should choose Gold Loan in Kolhapur?
- A person should have a minimum of 20 Gram gold to avail the Loan.
- No penalties are involved.
- Available within a time period of 30-60 Mins.
- You can enjoy a maximum tenure period of 6 to 12 Months
- In house gold evaluation.
- 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
- Land Proof: In case of Agriculture Loan of more than Rs. 1 lac. 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
- You can avail Gold 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 Gold Loan Interest Rates
- Simple documentation and fast processing.
- Overdraft limit varies depending on the market rate of gold.
- Interest rate is payable only amount of the overdraft that you use.
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The city of Kolhapur is situated in the southwest part of the state of Maharashtra. It serves as the headquarters of the Kolhapur district. It is one of the fastest growing cities in Maharashtra. It is known as 'Dakshin Kashi', historical capital of Maharashtra state.
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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%|