Features of Barclays Finance Gold Loan
Gold Loan comes in handy for emergency situations. Gold can be found in almost any household which makes it preferable.
Gold loans come with attractive interest rates and outstanding loan amounts. Barclays Finance provides amazing offers at Gold Loan.
Barclays Finance Gold Loan Documents Required are very basic and simple for the application of a gold loan.
Some features of Barclays Finance Gold Loan are as follows:
- Easy Procedure of obtaining Loan: Barclays Finance Gold Loan disburses loans within hours of initiating the procedure of obtaining a loan as the borrower presents the collateral in the form of Gold at the time of the application.
- Security of Gold: As the customer presents their Gold for a loan to the bank, it becomes Barclays Finance’s responsibility to keep their assets safe until they repay the principal along with the interest.
- No Proof of income: Unlike other loans, Gold loans are based on the Gold that the borrower has to present to the bank. This leaves the income out of the profile and thus there is no need for income proof to be presented.
- Low or Nil Foreclosure Charges: Barclays Finance Gold Loan usually have either around 1% or no minimum prepayment charges on gold loans.
Barclays Finance Gold Loan Comparision with banks
|Bank / NBFC||Rate Per Gram||Interest Rate||Gold Loan Tenure||Min – Max Loan Amount|
|₹ 3,506 to ₹ 4,621||0.099||3 to 24 months||₹ 10 thousand to 5 crore|
|ICICI Gold Loan||₹ 3,506 to ₹ 4,621||0.1||6 to 12 months||₹ 10 thousand to 5 crore|
|₹ 3,506 to ₹ 4,621||0.12||7 days to 36 months||₹ 3 thousand to 1 crore|
|₹ 3,506 to ₹ 4,621||0.1225||12 months||₹ 3 thousand to 1 crore|
|₹ 3,506 to ₹ 4,621||0.1025||36 months||₹ 20 thousand to 50 lakh|
|₹ 3,506 to ₹ 4,621||0.1||3 to 36 months||₹ 10 thousand to 5 crore|
|SBI Gold Loan||₹ 3,506 to ₹ 4,621||0.0975||12 to 36 months||₹ 20 thousand to 50 lakh|
|₹ 3,506 to ₹ 4,621||0.075||3 to 36 months||₹ 20 thousand to 50 lakh|
|₹ 3,506 to ₹ 4,621||0.1025||12 months||₹ 20 thousand to 50 lakh|
|₹ 3,506 to ₹ 4,621||0.1025||12 months||₹ 10 thousand to 5 crore|
|IIFL Gold Loan||₹ 3,506 to ₹ 4,621||0.12||11 months||₹ 3 thousand to 50 lakh|
Barclays Finance Gold Loan EMI calculator
Calculating EMIs is a very necessary step in availing of loans. When you calculate your EMI, you get the perfect idea and management for financial decisions. It becomes a stressless process after calculating EMIs through Barclays Finance Gold Loan EMI Calculator.
EMI Calculations depends on the below factors:-
Rate of Interest: The rate of Interest is subject to EMI, as EMI’s increase leads to its increase.
Loan Period: With a longer time period of re-payment, the net EMI becomes less.
Loan Amount: With an increase in the Loan amount, Net EMI increases.
Barclays Finance Gold Loan Documents Required
At the time of application the following documents are required:
- Proof of the citizenship of India
- Duly filled application form
- 2 passport-sized photographs
- Applicant’s KYC documents to establish Identity and Address
- Salary/ Income Proof
- Witness Letter in case of illiterate borrowers
- In the case of Agriculture Loan of more than Rs. 1 lac, land proof
- Certificate by the Jewel Appraiser (Bank will arrange)
At the time of disbursement the following documents are required:
- Demand Promissory Note & Demand Promissory Note Take Delivery Letter
- Gold Ornaments Take Delivery Letter
- Arrangement Letter
Barclays Finance Gold Loan Documents Required – FAQs
✅ Do banks look into the Credit Score for gold loan?
Yes, a credit score is important for availing of any kind of loan.
✅ What is the processing fee on a gold loan?
Banks takes almost nil processing fee on gold loans.
✅ How can I apply for a gold loan at Barclays Finance Gold Loan?
Table of Contents
- 1 Features of Barclays Finance Gold Loan
- 2 Barclays Finance Gold Loan Comparision with banks
- 3 Barclays Finance Gold Loan EMI calculator
- 4 Barclays Finance Gold Loan Documents Required
- 5 Barclays Finance Gold Loan Documents Required – FAQs