Janalakshmi Small Finance Bank Gold Loan
Gold loan is a loan in which a borrower can get a loan against gold. Gold loan is a type of secured loan. In the gold loan, bank will take borrower’s gold in order to give a loan to the borrower. Bank will deposit a borrower’s gold as a security. Bank will take the full responsibility of borrower’s gold.
Features of Janalakshmi Small Finance Bank Gold Loan
- Janalakshmi Small Finance Bank Gold Loan is very easy to apply. One can apply for the gold loan online within a few minutes.
- If a borrower is eligible, the loan can be approved within 5 minutes.
- After the approval of the gold loan, if the borrower has its complete documents it can be disbursed quickly.
- The responsibility of the gold is all at the bank’s end. Borrower’s gold assets will be kept under very tight and fireproof security.
- The rates of interest provided by the bank are quite affordable.
- The documentation process is very easy and simple in Janalakshmi Small Finance Bank Gold Loan.
- Bank will not ask the reason behind the gold loan, one can use this loan amount according to their needs.
Uses of Janalakshmi Small Finance Bank Gold Loan
- Most people use the gold loan for the wedding purposes.
- Sometimes one can prefer to get a gold loan in case of a medical emergency.
- Education can also be a reason for the usage gold loan.
- One can also boost their business by using the gold loan.
- The customer can get a gold loan to pay the bills related credit cards.
Who can get Janalakshmi Small Finance Bank Gold Loan
- Any salaried individual.
- Any self-employed.
- Students (age should more than 18 years)
- A farmer
Form of Gold
- Any jewelry carries with the quality of 18 carats to 22 carats is acceptable.
- Gold coins weigh less than 50 grams can get a gold loan.
- Bank does not accept minted/forged gold coins.
- Bars and bricks are not acceptable.
- Raw gold is not acceptable.
Documentation Required for Janlakshmi Small Finance Bank Gold Loan
2 passport size colored photographs
Know your customer
Aadhar Card, PAN Card, Voter ID Card, Passport or the Driving License.
Aadhar Card,PAN Card, Voter ID card,Passport ,Driving License
Note: Janlakshmi Small Finance Bank can ask for additional documents as per the needs and requirements.
Janlakshmi Small Finance Bank Gold Loan Interest Rates
The rate of interest starts at 11.5% and can go up to 15.5% per annum. Prepayment charges are 1% and the tenure of the loan is from 3 to 12 months.
Note: Interest rate mentioned here are updated with rates expected to change.
How to apply for Janalakshmi Small Finance Bank Gold Loan?
You can apply for a gold loan online at https://www.dialabank.com