Gold loan is said to be one of the most availed loaning schemes of all time. The main reason behind its success is secured loan banks, and NBFCs are more than willing to provide this loan at an affordable interest rate. With Gold Loan Anantapur you can escape all your financial worries in no time. The main reason why gold loan comes with such low-interest rate is the collateral requirement. Moreover, you will be getting around 80% of your gold’s actual value in terms of a principal loan amount.
About Gold Loan Anantapur
Life is a struggle and ups and downs are part of this life. When an unpredicted moment occurs, a person seeks for a fiscal help. He feels shy for asking financial help from his closed ones. There is a financial support known as Gold Loan by which a person feels financially secure to mitigate all of the unexpected events.
Read More - About Gold Loan
Gold Loan Anantapur Interest Rates
10.70% is the minimum annual rate of interest you can expect on these loans. If you calculate the monthly interest rate will come less than 1%. Thus, making it the lowest interest rate loaning scheme.
Also, it comes with foreclosure facility meaning you can close your loan before time and skip the pending Emi’s and their respective interest rate amount. The foreclosure charges range from 0-3% of the total loan amount.
Eligibility for availing Gold Loan Anantapur
- First of all the age of the applicant should be more than 18 years.
- After that, the maximum age of the applicant can be 65 years.
- The applicant should be a citizen if India.
- The applicant should have gold more than 10 grams.
Documentation required for Taking Gold Loan Anantapur
- Proof of Identity: Aadhar Card/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/ Ration Card
- Signature Proof: Passport Copy/Driving License/Banker's verification/cheque.
- Passport size 2 colored photographs.
Know More - Gold Loan: Factors to Remember
Why one should choose Gold Loan in Anantapur?
- This loan involves short tenure period generally from 6 to 12 months.
- Best Loan option for all of the bad credit individuals.
- Available at low interest rates.
- You just need to pay the interest rate, no EMI’s are involved.
Know More - Gold Loan Features and Benefits
- It is noteworthy that applying for the gold loan with DialaBank provides you with so many benefits and perks.
- Furthermore, the loan gets processed in no time.
- Along with you will get the loan amount disbursed within 15 minutes.
- Besides that, the whole process is comfortable and hassle-free.
- All the assistance will be provided to you without any extra charges.
Advantages of Taking Gold Loan Anantapur
- You can get Loan up to Rs.1 Crore along with 90% of in market value of your gold ornament from the NBFC
- You get 100% Safety & Security of your collateral gold ornament
- Simple documentation and fast processing.
- The rate of interest is payable the only amount of the overdraft that you use.
- Overdraft limit varies depending on the current situation of the market rate of gold.
- In addition to this, you can close your loan before time and save a few bucks.
- Foreclosure penalty ranges from 0-3% of the total loan amount.
- Both salaried and self-employed applicants are eligible to take this loan and use it according to their financial needs.
- Likewise, the gold loan has flexible tenure options ranging from 6 months to 5 year.
Does CIBIL score matter in Gold Loan Anantapur?
No, CIBIL Score does not matter in a Gold Loan . This being a secured service, the banks hardly check your CIBIL score while providing you the loan. On the other hand Gold Loan helps to increase the CIBIL score of a person.
Know More - What is CIBIL Score?
The city of Anantapur is head quarter and Municipal Corporation of the Anantapur District, the state Andhra Pradesh. Anantapur is largest district in Andhra Pradesh and having 64 mandals.
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||
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.