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.

Read More - About Gold Loan

 

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.

Know More - Gold Loan Per Gram

 

Eligibility for Availing Gold Loan Kollapur

  1. First of all the age of the applicant should be more than 18 years.
  2. After that, the maximum age of the applicant can be 70 years.
  3. The applicant should be a citizen if India.
  4. The applicant should have gold more than 10 grams.

Know More - Gold Loan: Factors to Remember

 

Why one should choose Gold Loan in Kolhapur?

  1. A person should have a minimum of 20 Gram gold to avail the Loan.
  2. No penalties are involved.
  3. Available within a time period of 30-60 Mins.
  4. You can enjoy a maximum tenure period of 6 to 12 Months
  5. In house gold evaluation.

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 Kolhapur

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.

Know More - Gold Loan Near Me

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%