Whenever a person needs urgent cash, the first thought that comes in a person’s mind is availing a loan. But many people could not qualify for a loan due to poor credit. Seeing this, lending institutions have come up with an option of Gold Loans that offer you money against your gold. The main advantage of gold loan is that it requires very less amount of paperwork as compared to other types of loans like personal loan, which is given according to the credit profile of the applicant. Also, your precious gold will be kept safe in the bank lockers till the tenure of the loan.
About Gold Loan Visakhapatnam
Use your yellow metal wisely now and avail the best offers on Gold loan with the help of Dialabank at zero processing fees, easy Documentation and Quick Approval Guaranteed. Apply today and avail the best offers only on Dialabank. Gold Loan is the best financial tool that helps an individual to cater the required amount of money without any hassle. A person who is not eligible for any other loan can apply for Gold Finance. Taking Loan against Gold is the best option to overcome all of the financial issues.
Gold Loan Visakhapatnam Interest Rates
Who can Get a Gold Loan?
Why one should Apply for Gold Loan in Visakhapatnam?
- Easily available
- No credit checks
- Simple Procedures
- No EMI, service only interest
- Minimal Documentation
- Fast Loan Approval
- A person should have a minimum of 20 Gram gold to avail the Loan.
- No penalties are involved.
- In-house gold evaluation
- Available within a time period of 30-60 Mins
- You can enjoy a maximum tenure period of 6 to 12 Months.
Know More – Gold Loan Features and Benefits
Gold Loan Visakhapatnam Eligibility
- Applicant’s Age must be above 18 years and below 65 years
- Applicant must be an Indian citizen
- Minimum gold must be 10 gm to avail gold loan
- Gold must be between 18 carats to 22 carat
- A gold loan can be availed only on jewelry
Advantages of Taking a Gold Loan in Visakhapatnam
- No income and salary criteria – Gold loans do not require any documentation or validation for income or salary of the person, so even if you are unemployed and unsalaried you can still avail a gold loan. This is because you are pledging a valuable asset i.e. gold in return of the money.
- Can be provided in cases of bad credit history as well as the low-income level
- Relatively lower interest rates – Another advantage of taking a gold loan is that they are available at low-interest rates, say 12-16% annually in comparison to the personal loans interest rates of 15-26% per annum.
- You need to repay only the interest – You have the option to pay only the interest during the tenure of the entire gold loan and at the end of tenure, you can pay the entire borrowed amount in a single shot.
- Total Convenience -The most convenient of all the loans is a gold loan. This is because in this all you have to do is pledge your gold with a bank or a private finance institute and the work is done. You can get a loan up to 80% or more of its market value immediately.
- Less processing time -No tedious and lengthy documentation is required in case of Gold Loans, hence it can be resorted to in times of urgent needs. Banks take a few hours in the processing of the gold loan whereas some NBFC’s state that they only take a few minutes for the same task.
Documents Required for Gold Loan
- Proof of Identity: Passport Copy/ Voters ID card/ Driving License/Adhar card/ PAN card.
- Address Proof: Ration card/ Tel, Electricity Bill/ Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate.
- Signature Proof: Passport Copy/Driving License/Banker’s verification/cheque.
- 2 passport size photographs
How to Apply For Gold Loan Visakhapatnam?
- Firstly www.dialabank.com offers a very easy process of application for Online Gold Loan
- Fill all the required details so that we can reach out to you.
- Then you will be guided through every step of the loan process.
Know More – Best Gold Loan Services
Visakhapatnam is a city in the state of Andhra Pradesh, India. It is the largest city and the financial capital of the Indian state of Andhra Pradesh. It is also the 9th most populous metropolitan area in India with a population of 60,53,000. “To get Gold Loan in Visakhapatnam is very easy when you apply through Dialabank. We offer you the lowest interest rate as compared to others in the market. Call us 9592046860 or (enter area) 60011600 for more details
Know More – Gold Loan Near Me
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.
Know More About Gold Loan
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- 4 Different Ways of Repaying Your Gold Loan
- Gold Loan Interest Rate
- What happens when you don’t pay a Gold Loan?
- Gold Loan From Top banks And NBFCs in India
- Gold Loan Near Me