About HDFC Gold Loan Phagwara
Read More – About Gold Loan
HDFC Gold Loan Phagwara Interest Rates
10.70% is the minimum Gold Loan Interest Rate you can expect on this loan. Also, HDFC Gold Loan Phagwara come up with minimal foreclosure charges ranging from 0-3% of the total loan amount. By using this feature, you can skip the pending Emi’s and their respective interest rate amount. The tenure period starts at six months and can be extended up to 5 years.
Know More –
Benefits of taking HDFC Gold Loan Phagwara
- Available also in case of bad credit history or low-income level.
- Relatively Lower interest rates- Another advantage of taking HDFC Gold Loan Phagwara is that they are available on low-interest rates, which is 10.70% 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 just the rate of interest monthly during the tenure period of the entire gold loan, and at the end of tenure, you can spend the whole borrowed amount in a single shot.
- Total Convenience- The most convenient of all the loans is an HDFC gold loan 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 90% of its market value immediately.
- Less processing time- No tedious and lengthy documentation is required in the case of HDFC gold loans. Hence it can be resorted to in times of urgent needs. Banks take a few hours in the processing of the HDFC gold loan whereas some NBFC’s state that they only take a few minutes for the same task.
- Gold Loan Per Gram valuation is also an important element of gold loan and HDFC bank gold loan is well accepted by customers as it offers an honest evaluation of gold.
Documentation required for taking HDFC Gold Loan Phagwara
- Identity Proof: Voters ID card/ Driving License /Passport Copy
- 2 passport size photographs.
- Address Proof: Passport copy/Trade license /Shop & Est. License/Sales Tax certificate/
- Ration card/ Tel, Electricity Bill/ Rental bill
- Signature Proof: Banker’s verification/Cheque /Passport Copy/Driving License.
Eligibility for availing HDFC Gold Loan Phagwara
- 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 Chintapallipadu can be availed only on a jewellery
Why HDFC Gold Loan is the best loaning option?
- The borrower gets a flexible repayment structure with a gold loan.
- This type of loan requires less documentation. So it makes the process simple and easy.
- The processing time takes for approving the loan is lesser than other types of loans. So it is the best option when you need immediate financial help.
- The interest rate charged by the lenders is much lower when compared to any other type of loan.
- The applicant of the loan is not required to disclose his income or salary. Non-working individuals can also take up a gold loan.
Why one should choose HDFC Gold Loan Phagwara?
- No EMI, Service only interest.
- Minimal Documentation.
- The Loan gets sanctioned in just a few minutes.
- The money is offered to the customer after a quick evaluation of gold.
- It is free from the hassle of long paperwork.
- Low-interest rates.
Know More – Gold Loan Features and Benefits
Phagwara is a city and a Municipal Corporation in Kapurthala district in Punjab, India. It is a very easy and effortless process to take a gold loan when you will apply through Dialabank. In a gold loan, there is no need to mortgage any property as it is a secured loan. So, it is very beneficial for an individual to take a gold loan, all you have to do is to visit Dialabank or call on 9878981166.
Know More – Gold Loan Near Me
Gold Loan in Other Cities
|HDFC Gold Loan Rajpura||HDFC Gold Loan Samana|
|HDFC Gold Loan Sangrur||HDFC Gold Loan Zira|
|Gold Loan Jalandhar||Gold Loan Ludhiana|
|Gold Loan Mohali||IDFC Gold Loan Bathinda|
FAQs About Gold Loan
How does Gold Loan work?
A 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 of the Gold loan you don’t need any co-applicant
Is a Gold loan better than a Personal loan?
Yes, a Gold loan is better than a personal Loan because in Gold Loan banks/NBFC’s takes Gold ornament as well as a gold coin as collateral and in the case of a Personal loan it is unsecured 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 the Valuation fee.
Gold Loan Interest Rates in Phagwara
|HDFC Bank Personal Loan||0.25% to 1.50%||
2%, Nil foreclosure charges after 3 months
|Axis Bank Personal Loan||0.50% to 1.50%||Nil|
|ICICI Bank Personal Loan||0.25% to 1.50%||
2%, Nil foreclosure charges after 9 months
|SBI Personal Loan||500/- to 0.50%||Nil|
|Kotak Personal Loan||1% to 2%||
2.25% of fore closure amount if closed 1 month ahead of the tenure.
|IIFL Personal Loan||Nil||Nil|
|Muthoot Personal Loan||Nil||Nil|
|Manappauram Personal Loan||Nil||Nil|
|PNB Personal Loan||0.70% to 1%||Nil|
|Canara Bank Personal Loan||0.01||Nil|
|Andhra Bank Personal Loan||Nil||Nil|
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Table of Contents
- 1 About HDFC Gold Loan Phagwara
- 2 HDFC Gold Loan Phagwara Interest Rates
- 3 Benefits of taking HDFC Gold Loan Phagwara
- 4 Documentation required for taking HDFC Gold Loan Phagwara
- 5 Eligibility for availing HDFC Gold Loan Phagwara
- 6 Why HDFC Gold Loan is the best loaning option?
- 7 Why one should choose HDFC Gold Loan Phagwara?
- 8 About Phagwara:
- 9 Gold Loan in Other Cities
- 10 FAQs About Gold Loan
- 10.1 How does Gold Loan work?
- 10.2 Gold Loan is secured?
- 10.3 What happens when you don’t repay a Gold Loan?
- 10.4 To get a gold loan do I need a co-applicant?
- 10.5 Is a Gold loan better than a Personal loan?
- 10.6 What is the best online platform to avail gold loan?
- 10.7 Is there any fee payable for the Gold Loan?
- 11 Gold Loan Interest Rates in Phagwara