Pandyan Grama Bank Gold Loan Documents Required

GOLD LOAN @ 0.57%*
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⍟  Highest Rate Per Gram
⍟  Lowest Interest Rate of 0.57% p.m.

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    Pandyan Grama Bank Gold Loan Documents Required

    Features of Pandyan Grama Bank Gold Loan

    Pandyan Grama Bank Gold Loan Documents Required are minimal, and to enhance customers understanding of gold loan some of the key feature common to all gold loans are discussed here:

    • Pandyan Grama Bank Gold Loan Documents RequiredHigh loan amount: With a gold loan, you can borrow as much as you want against your pledged jewellery. Lenders use the Loan-to-Value Ratio to determine the loan amount (LTV). This ratio can range from 65 % to 90 % in the case of a gold loan.
    • Repayment Flexibility: Another advantage of applying for a Gold Loan is the possibility to select the most convenient repayment option for you. Any lending facility demands repayment, and you have some gold loan repayment choices to choose from.
    • EMI Method: This is a monthly paid tenure. The principal and interest are to be paid every month.
    • Faster Processing: A gold loan may be the greatest alternative for someone who needs a loan quickly. When compared to other sorts of loans, gold loans are a lot speedier. The only procedural step is to complete the papers and authentication, after which the loan money is disbursed into the account.
      However, disbursing the funds does not take long.
    • Lower Interest Rates: Everyone wants a lower interest rate on the lending facility. A Gold Loan could be the ideal option for you because it is a secured loan. Lenders charge lower loan rates as a result of this. Additionally, the gold will be utilised as loan collateral. Gold Loan interest rates range from 9% to 20% per year, with an average of 10% to 16% per year.
    • Interests paid regularly: Amount to be paid on regular intervals – monthly, quarterly, semi-annually, or annually and the principal at the end of the term.
    • Payments made in Advance: Payment will be a complete interest payment in the starting and principal amount at the end of the term.
    • There is no requirement for credit history: A gold loan may be a good choice because the lenders do not consider the credit history while approving the loan. This is due to the security supplied in the shape of gold ornaments or bank-minted money. A gold loan is ideal for those who are looking for a loan with lenient eligibility requirements.
    • Security of Physical Gold: It is the lender’s responsibility to keep the physical gold safe. Borrowers do not have to worry about it because it is generally kept safe in the bank’s locker. The bank returns the gold once they have paid back the loan.

    Visit Dialabank to know more about Pandyan Grama Bank Gold Loan Documents Required.

    Pandyan Grama Bank Gold Loan Comparision with banks

    Bank / NBFC Rate Per Gram Interest Rate Gold Loan Tenure Min – Max Loan Amount
    ₹ 3,506 to ₹ 4,621 0.099 3 to 24 months ₹ 10 thousand to 5 crore
    ICICI Gold Loan ₹ 3,506 to ₹ 4,621 0.1 6 to 12 months ₹ 10 thousand to 5 crore
    ₹ 3,506 to ₹ 4,621 0.12 7 days to 36 months ₹ 3 thousand to 1 crore
    ₹ 3,506 to ₹ 4,621 0.1225 12 months ₹ 3 thousand to 1 crore
    ₹ 3,506 to ₹ 4,621 0.1025 36 months ₹ 20 thousand to 50 lakh
    ₹ 3,506 to ₹ 4,621 0.1 3 to 36 months ₹ 10 thousand to 5 crore
    SBI Gold Loan ₹ 3,506 to ₹ 4,621 0.0975 12 to 36 months ₹ 20 thousand to 50 lakh
    ₹ 3,506 to ₹ 4,621 0.075 3 to 36 months ₹ 20 thousand to 50 lakh
    ₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 20 thousand to 50 lakh
    ₹ 3,506 to ₹ 4,621 0.1025 12 months ₹ 10 thousand to 5 crore
    IIFL Gold Loan ₹ 3,506 to ₹ 4,621 0.12 11 months ₹ 3 thousand to 50 lakh

    Pandyan Grama Bank Gold Loan EMI calculator

    Pandyan Grama Bank Gold Loan Documents Required

    Pandyan Grama Bank Gold Loan Documents Required are as follow:

    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

    Pandyan Grama Bank Gold Loan Documents Required – FAQs

    What is the formula for calculating a gold loan?

    By subtracting the principal amount from the total amount due, you can determine the gold loan interest. Then, with the help of a repayment calculator, you can figure out how much you’ll owe after the term.

    Is a gold loan a good option?

    Gold loans are regarded as a secure investment with Pandyan Grama Bank Gold Loan Documents Required as your jewellery will be safe and secured.

    How long does it take to get a gold loan?

    A gold loan can be approved in 90 to 120 minutes on average if Pandyan Grama Bank Gold Loan Documents Required are available. However, if the customer needs to obtain KYC documents, pictures, or other information, there may be a delay.