The era of waiting long hours in queues and facing botheration of long documentation procedure has gone. If you’re one of those who are looking for easy and quick loan approval, then nothing is best than a Gold Loan. Now, what is a Gold Loan Procedure? The definition of this specific loan isn’t that complicated; the gold loan procedure is simple, if you own gold ornaments or jewelry, then keep them as collateral in the hands of banks or money lenders. In return, you will get the cash. The loan sanctioned to you entirely depends on the current market value of your gold. Follow this Gold Loan Procedure to avail of the benefits of a gold loan.
Approval and Disbursal of Gold Loan
- Loan approval in 5 minutes: While availing a Gold loan, you need basic documents such as your identity proof and residence proof and get instant support by proper gold loan procedure following.
- Loan disbursal in 30 minutes: As soon as the gold evaluator gives a green flag to your gold ornaments, the loan is sanctioned to you. The loan sum you get depends on the current value of your gold.
Eligibility Criteria of Gold Loan
- To begin with, the gold loan procedure jewelry should be in the name of the applicant or family member.
- Secondly, the least loan amount is 18000 Rupees, and it can go up to 1 Crore depending upon the quality of gold.
- Thirdly, The applicant should be between 18-70 years of age.
- Moreover, the applicant should be a resident of India.
- Last but not least, Gold Loan Interest Rates are least in contrast to other financial products.
How to calculate the gold market value, and what’s the maximum loan amount you can get?
On the day of the loan application, professionals calculate your gold according to the gold’s per gram market rate. Simultaneously, calculating if your gold ornaments or jewelry contain any stone or gem that will be excluded from the calculation. The current market value of your pledged gold decides your loan sum. Being a borrower, you’re able to avail of a maximum loan of more than 75 percent of the market value of your gold. Rest the quality of your gold helps in deciding the exact loan amount
Documentation
While availing Gold Loan, the banks require minimal documentation and short procedure. It would help if you visited your nearby branch along with your identity proof and residence proof. After verification of your gold and proper gold loan operation, the bank gives you approval within 5 minutes. If you have Aadhar Card, most of the branches do your e-KYC (Know Your Customer) via tablets. The banks verify your Aadhar card with UIDAI via OTP (One Time Password) or your fingerprint. After completion of your Aadhar card authentication, you need to submit other KYC documents. And proper gold loan procedure will be followed.
KYC (Know Your Customer) documents
Identity proof:
- Aadhar card
- PAN (Permanent Account Number) card
- Driving license (valid)
- Voter/Election card
- Passport (valid)
Residence or address proof:
- Aadhar cards
- Driving license (valid)
- Voter/Election card
- Passport (valid)
Gold Loan Repayment
Online payment: When you have an online facility, why would you like to rush here and there? Make a payment online, no matter where you are, and at what time you’re paying. Online Payment system lets your relish the comfort of paying your loan outstanding. You can rely on this procedure, totally easy, safe, and quick.
Payment via apps: Your app lets you manage your payment easily. Via different apps (depending on which bank you avail a loan), you can check your account summary, true statement, submit the query, etc.
How to Apply?
Gold Loan Procedure application can be made in two ways:
Online Process
This is a very easy process in which the applicant can avail of a Gold Loan in the comfort of their home. Just visit Dialabank, and fill an application form. Then, sit back and become carefree. The strained relationship managers will call you and will assist you through the entire process. Furthermore, no extra cost is charged for this service.
Offline Process
You can also avail of a Loan through a branch. In this case, you will have to search for a unit nearby. You can do so by exploring the Gold Loan near me on google. And, Google will enlist all the branches Gold loan Bank providing a gold loan. But, this process can be very tiring and time-consuming. You have to follow the gold loan procedure properly for approval of the instant gold loan.
About Dialabank
- To start with, many products are available in the market; thus, all the people who aspire to avail of a loan are generally confused about the best loan offer for themselves.
- To clear this confusion, our company assists the customer and guides them Best Loan Deal according to the needs.
- Moreover, the customer is guided throughout the loan process without any extra charges of the service.
- Therefore, Avail a Gold Loan through Dialabank. Apply for a Gold loan from Dialabank and avail the best offers because Gold Loan as the best option.
