Gold Loan Savner
A person who needs quick money without much documentation opts for gold loan. Taking loan amount against your gold means Gold Loan. Banks offer Low-interest rates in case of a gold loan. It is the best way to make a loan if you have gold ornaments to keep, and it can save you from facing a financial crisis.
Gold Loan Savner interest rate
Eligibility Criteria and Documentation required for Gold Loan Savner
- Identification proof such as Passport, Voter card, or driving license.
- Address proof which includes electricity bill, ration card, etc.
- Passport, DL or other proof with signature needs to be submitted for signature proof.
- Two passport size photographs are also required.
- The applicant should be at least 18 years old.
- The gold ornament submitted should be at least 18 carats or above.
- Gold Loan Savner can be availed by an applicant who has at least 10 grams of gold.
- Charges associated with Gold Loan Savner
- Some of the service providers may waiver Loan, but some banks do charge a processing fee.
- Valuation Charge is the charges to be paid to the evaluator. Such fees are specific to the service provider. Those having in-house evaluators do not charge any extra amount for valuation.
- Most of the service providers charge for late payment; this usually varies from one institution to the other.
- The applicant should consult with the loan provider before taking the Loan. These charges could change the amount that you may finally receive and should also check for the methods of repayment of the gold loan.
Advantages of Gold Loan Savner
- The documentation required is very minimal, and so it doesn’t demand any certificate to show your salary or income. Credit card history is also not required.
- The gold loan requires only a few documents, such as ID proof and address proof. After providing such materials, the applicant can avail the Loan.
- Interest rates are an attractive deal for gold loans. Usually, the interest rate varies between 12-16% per annum and is also quite as low compared to personal loans.
- In agricultural areas, the gold loan is available at an interest rate of only 7-8%.
- Gold Loan Savner is the most convenient and straightforward form of Loan because all you need to do is pledge your gold here with a bank and you can avail up to 75% of the market value of the gold as Loan.
- The borrower here has the option to pay only the interest during the term of the loan and can pay the principal amount once the time is over.
- The gold is 100% secure, and the Loan can be procured under 30 minutes.
How to Apply for Gold Loan Savner?
- You can avail a gold loan with a single click while sitting at home. Go to DialaBank Website.
- Go to the loan section in the navigation bar and click on the gold loan link.
- Fill the form with details and submit the form.
- We will contact you in a short period.
- For further information, please contact +91 9878981166.
How to Calculate Gold Loan Interest Rate?
- Rate of Interest: It is the amount that is charged on the amount of Loan. The Gold Loan Interest Rate depends on the factors stated below:
- Internal/External Customer: The loan seekers who have an account in the Bank from where they want to avail the Loan, then such customers are known as internal customers. Internal customers are given a rebate on the rate of interest charged by the applicant.
- Amount of Loan: The loan amount is the primary factor that decides the rate of interest that will be charged from the applicant. The Gold Loan Interest Rate is higher for loans with lesser amounts. Thus, the more the amount of credit, the lower is the Rate of Interest.
- LTV Ratios: Furthermore, lending institutions charge a higher rate of interest on the gold loan with a high LTV ratio. Thus, the more the LTV of the gold jewellery, the higher is the Rate of Interest charged by the applicant.
Gold Loan EMI Calculator
Savner is a City and tehsil headquarters in the north part of Nagpur district in the state of Maharashtra.
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