Gold Loan Palani

Gold Loan Palani

Gold is one of the precious metals for Indians as Its value in our lives cannot be ignored because every person is attached to it emotionally. However, what is the point of keeping your gold in lockers when it cannot help you in times of emergency? Thus, Taking a Gold Loan Palani can help you to overcome financial needs. Also, it is the best way to get cash easily or in a short span.

What is Gold Loan?

Gold Loan is a loan for which you have to pledge your gold to the bank as security, and it provides you loan amount according to the quantity and the quality of your gold. Furthermore, The pledged gold will be kept safe in bank lockers, and they are liable for the security of your gold. Finally, The moment you return the Gold Loan Palani amount with an interest rate, you will get back your gold as it is.

What is Gold Loan Palani Interest Rate?

Gold Loan is a service that provides its customers with cash at the best rate of interest. Gold Loan Palani is quite less and reasonable. On average it starts at 9.90% per annum and can go up to 24% per annum. Different Banks and NBFC’s provides different interest rate to the customers.

Know More – Gold Loan Interest Rate

Eligibility Criteria for Gold Loan Palani

1. The minimum loan amount for taking a gold loan is Rs. 25,000. The maximum loan amount will depend upon the weight of the gold, profile of the customer, etc.
2. Minimum age of applicant: 21 years
3. Maximum age of applicant at loan maturity: 65 years
4. Gold jewellery should be owned by the applicant or any of the family members.

Why should one apply for a Gold Loan Palani?

1. Great Availability: Loan against gold is a secured service. Therefore the processing of this Loan is very quick and hassle-free as the bank is mostly concerned with the quality and weight of the gold.
2. Low Rate of Interest: In contrast to services like personal loans, the gold loan has the least interest rate as banks keep security against the Loan.
3. Negligible foreclosure charges: Generally, banks do not have any prepayment charges, but some banks can charge a penalty of just 1%.
4. Safety of Ornaments: The ornaments are more secure with the banks due to the strict security In the banking institutions, which is quite less at homes.
5. No qualification of Credit Score: As this is a secured loan, therefore, the applicant does not have to worry about bad loan repayment history.
6. Income-proof not required: The salary of an applicant is not an issue for availing a gold loan as it depends majorly on the weight and quality of gold available with the applicant.
7. No loan processing charges: Another advantage is that the applicant does not have to pay extra for this service as the approval solely depends upon the asset kept as security.
8. Flexible tenure: In addition to other advantages,  the applicant can choose the tenure of the Loan according to their requirements and needs.
9. Only payment of interest: The applicant has the option to pay the principal amount at the end of the tenure and only the interest every month.

Know More: Gold Loan Features

Documents Required for Gold Loan Palani

• Identity Proof: Aadhar Card/Pan Card/ Passport/ Voter ID
• Residence Proof: Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card.
• Agriculture Proof: Agriculture Land Proof.
• Photographs: Two passport size coloured photos.

Who all can apply for Gold Loan Palani?

1. First and foremost, the gold should be in the name of the applicant or family member.
2. Secondly, the applicant should be a resident of India.
3. Thirdly, The age should lie in between 18 years to 70 years(at the time of loan maturity).
4. Next, the bank is not concerned about the employment status of the applicant. Thus salaried, self-employed, homemakers, students anyone can apply for a Gold Loan.

Know More – Gold Loan Per Gram

Benefits of Gold Loan Palani

1. Faster processing
2. Option to pay interest only
3. Lower interest rate
4. No processing fees
5. Little or no foreclosure charges
6. No-income proof required
7. Lousy credit history not an issue
8. Safety of gold

Know More –  Gold Loan Benefits

How to apply for Gold Loan Palani?

1. A person can easily apply online on DialaBank Website.
2. The process is very easy and hassle-free.
3. The documentation process is very less as well.

Know More – Top Reasons why Gold Loan is the best borrowing option

About Palani

Palani is a town in the headquarters taluk and district of Dindigul, Tamil Nadu. To get a gold loan, it is very easy when you apply through Dialabank. We offer you the lowest interest rate as compared to others in the market. Call us +91 9878981166 for more details.