About Gold Loan Mumbai
Your gold is an asset that can help you during financial crunch or when you are in need of urgent lumpsum money in hand. Gold loan is a type of secured loan in which gold is kept as collateral security in exchange of monetary help.
Many banks and NBFCs in India offer this financial service that can be easily availed by anyone.
Why Choose Gold Loan Mumbai?
- Less processing time.
- No hidden charges.
- Fast Loan disbursal.
- No credit checks.
- No co-signer needed.
- Prepayment facility.
Gold Loan Mumbai Interest Rate
Being a secured loan the credit in gold loan is available at low interest rates. Though, the interest may vary depending upon your loan amount and tenure.
In general;
- The gold loan is available at 1% PM interest rate.
- Gold Loan Interest rate – 10.70 %.
- Moreover, offer low processing fee that is 0.85%.
- Further, pre-closer charges range from 0 – 2 %.
Know More – Gold Loan Interest Rate
Features of Gold Loan Mumbai
- You can avail Loan up to Rs.1 Crore or more & up to 70% of value for any purpose
- You get 100% Safety & Security of your Gold Jewelry
- Get your Loan processed in less than 30 minutes
- Enjoy Anytime Liquidity.
- No EMI, Service only Interest and enjoy the Loan facility
- Lower Interest Rates
- Simple documentation and fast processing.
- Overdraft limit varies depending on the market rate of gold.
- The interest rate is payable the only amount of the overdraft that you use.
Know More – Top Reasons why Gold Loan is the best borrowing option
Documentation for Gold Loan Mumbai
- Land Proof: In case of Agriculture Loan of more than Rs. 1 lac. The proof is not required for allied agriculture purposes.
- A Demand Promissory Note.
- Certificate by the Jewel Appraiser (Bank will arrange).
- Income Proof: Salary Certificate and Form No.16.
How to Apply for Gold Loan Mumbai?
- Visit our site www.dialabank.com.
- Enter your details and fill the form.
- Our relationship manager will call and assist you through the entire process.
Avail your Gold Loan with Dialabank and get personalized assistance
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.
Interest Rate of Different Banks for Gold Loan Mumbai
| 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% |
