Fincare Small Finance Bank Gold Loan Documents Required

GOLD LOAN @ 0.57%*
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⍟  Highest Rate Per Gram
⍟  Lowest Interest Rate of 0.57% p.m.

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    Fincare Small Finance Bank Gold Loan Documents Required

    Features of Fincare Small Finance Bank Gold Loan

    Fincare Small Finance Bank Gold Loan gives you the opportunity of getting instant loans. In an unpredictable world, we can need money anytime. With Fincare Small Finance Bank Gold Loan, the process of getting a gold loan becomes easier.

    Some features of Fincare Small Finance Bank Gold Loan are as follow:

    • Smooth processing:- The overall processing of the Fincare Small Finance Bank Gold Loan is done within hours as the customer provides the bank with collateral on the spot, making it a safer choice for banks as they can easily sell the same in case the borrower of the loan defaults.
    • Low-Interest Rates:- Fincare Small Finance Bank Gold Loan has an interest rate range of 13%-14%, which is less than the interest rate of personal loans.
    • Zero Processing Fees:- As Gold Loans are processed quickly and seamlessly due to on-spot collateral, Fincare Small Finance Bank Gold Loan generally do not involve Processing Fee.
    • No income Proof:- As the Fincare Small Finance Bank Gold Loan is secured against the on-spot collateral provided in form of gold, no income proof is needed to process the same.

     

    Fincare Small Finance Bank Gold Loan Documents Required

    Fincare Small Finance Bank Gold Loan Comparison 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

    Fincare Small Finance Bank Gold Loan EMI calculator

    Fincare Small Finance Bank Gold Loan EMI is the monthly payment you make to the bank to repay your loan. The principal amount and the interest component are both included in the EMI. The interest component of your EMI is higher in the beginning and decreases with each EMI. The Fincare Small Finance Bank Gold Loan EMI Calculator calculates your monthly EMI at the selected interest rate for a specific duration. The Fincare Small Finance Bank Gold Loan EMI is calculated by 3 factors i.e. Loan amount, interest rate, and loan term.

    • Loan Quantity: If you ask for a larger gold loan online, your EMI will be higher.
    • Internet Rates: The interest rate is directly proportional to the cost of EMI. Higher the interest rate greater the EMI.
    • Loan Duration: In the case of an extended loan period, the EMI on gold is reduced.

    Fincare Small Finance Bank 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

    Fincare Small Finance Bank Gold Loan Documents Required – FAQs

    How are EMIs calculated?

    EMIs are calculated on basis of 3 factors. The 3 factors are as follows:

    • Loan Quantity
    • Internet Rates
    • Loan Duration

    Can I repay the loan on monthly basis?

    Yes, the method of repaying small amounts monthly for a period of time until you have given the demanded sum is called EMI.

    Does a gold loan has lower interest rates?

    Gold loan interest rates lie in the range of 12% to 14% making it one of the lowest interest rates.