KLM Gold Loan Documents Required

Features of KLM Gold Loan Gold Loan

KLM Gold Loan is the best option for all of your financial requirements. Gold loan payments are the quickest option to get money when you’re in a tight spot. Your gold will be safe in our hands, and you may take advantage of any opportunities that arise. KLM Gold Loan is a straightforward lending solution that requires little documentation and secure storage. When you need money, you can get it.

Some of the primary benefits of borrowing against KLM Gold Loan are as follows:-

• In a matter of minutes, you’ll have quick cash and no paperwork to deal with.
• Your gold will be valued by an expert to ensure that you get the best possible price per gramme.
• Repayment can be made at any of our many locations.
• Reminders about your payback deadlines at the right times

1. Quick Processing — KLM Gold Loan offers a facility of super fast and easy processing with instant approval for a seamless experience.
2. ‘Pay Interest Only’ Option – A common element of gold loans is the ability to pay only the interest component when repaying the loan. The primary component might be paid at the end of the loan term or during the loan closing process.
3. Low-Interest Rates  — Because gold loans are secured loans, banks charge a lower interest rate than unsecured loans like personal loans. Gold loans include interest rates ranging from 13 to 14 percent. Personal loan interest rates, on the other hand, are often about 15%. The gold loan interest rates are further decreased for borrowers who can offer extra collateral.
4. Lowest processing fees — Because gold loans are issued quickly with gold as collateral kept by the bank, many banks and NBFCs do not charge any processing fees.
5. Minimal Foreclosure Fees – Most of the bank doesn’t impose and foreclosure charges rather they charge them at a low rate of 1%.
   Proof of Income is required and is essential.
6. Credit history  – In most loans, the loan is decided from the past loan repayment history or the credit score. However when we talk about a gold loan the criteria is entirely different, here banks take the gold as collateral and are confident enough about the security provided hence credit history doesn’t matter.

Gold loans can be a very tiresome and risky financial lending process we at Dialabank Provide Expert advice and absolutely free comparison between various banks providing gold loans visit our website Dialabank or 9878981144 to get in touch.

KLM Gold Loan Gold Loan Comparision with banks

KLM Gold Loan  EMI calculator

KLM Gold Eligibility Criteria

Following eligibility criteria is required for a gold loan:-

• Age Barrier: The Loan Borrower must at least be 21 years old
• 65 years old is the maximum age limitation for a gold loan
• Gold loans are available from banks up to Rs 20 lakhs. The loan amount may be up to Rs 2 crore, with hefty interest rates applied.
• Job Requirements: Gold loans are provided to all regardless of employment status.
• Gold as a Security: The gold which will be mortgaged as collateral should be 18-24 carats in terms of purity scale. The price of the last 30 days for purity of 18-24 carats will get adjusted. coins golden bars chains rings etc can be kept as a security.
• Required Document proof: Identity proofs and address proof is required for a gold loan however proof of income is not mandatory

KLM Gold Loan Documents Required

At the time of application the following documents are required:

• Proof of the citizenship of India
• Duly filled application form
• 2 passport-sized photographs
• Applicant’s KYC documents to establish Identity and Address
• Salary/ Income Proof
• Witness Letter in case of illiterate borrowers
• In the case of Agriculture Loan of more than Rs. 1 lac, land proof
• Certificate by the Jewel Appraiser (Bank will arrange)

At the time of disbursement the following documents are required:

• Demand Promissory Note & Demand Promissory Note Take Delivery Letter
• Gold Ornaments Take Delivery Letter
• Arrangement Letter

KLM Gold Loan Documents Required – FAQs

✅Who all are eligible to avail KLM Gold loans? What security has to be provided?

The loan is available to anybody who possesses gold jewellery. (Minors are not allowed to participate.) To get the loan, you must bring your gold jewellery to the branch (with a karat range of 18 to 24 k). The loan amount will be determined by the gold appraisal, which will include purity certification. For valuation purposes, the weight of stones and other decorations shall be subtracted.

✅What are the documents required for taking loan against gold ornaments?

One form of identity (such as a ration card, a driver’s licence, a PAN card, a voter ID card, a passport, or an Aadhar card) and one document of residency are required.

✅What is the Current Intrest rate of gold loan at KLM Gold Loan?

The interest rate of the KLM Gold Loan depends upon the amount of loan borrowed The interest rate is usually 7% Annually.