Puduvai Bharathiar Grama Bank Gold Loan Features
Gold has evolved from a symbol of status and power to a mode of investment. You can take a loan out against the gold commodity you will be putting up as security. This loan helps you in cases of emergencies where you suddenly need funds to pay bills or a medical emergency.
The Interest rate for these loans is low and the tenure is also very flexible, it ranges from 3 months to 24 months. You can increase the loan tenure after you request the bank and if they find your reason convincing they will increase the loan tenure. The processing charges for the loan are also very low. You will be given about 80% of the quoted price as the loan.
You will be putting up your gold commodity as security for this loan. If you fail to repay the loan in the given tenure, then the commodity put up as security will be auctioned off and the money will be used to pay back the loan. If the money from the auction isn’t enough the bank will take the necessary steps to make you pay back the loan. This will be only after you fail to comply with the 3 notices that will be sent to you before this.
You can learn more about taking a Puduvai Bharathiar Grama Bank gold loan by visiting dialabank. You can even have our relationship manager do all the work for you without you having to do much work.
Puduvai Bharathiar Grama Bank Gold Loan Eligibility
Minimum and Maximum Age
Note: However, many banks require a minimum age of 23 years
Interest rates are lower for a higher loan amount
Businessmen are increasingly taking gold loans to meet their working capital requirements.
In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans.
Quality of Gold
An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22
However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score
Gold ornaments that can be used for availing loan
Gold with 18-24 carat purity
Employment track record and income proofs
Puduvai Bharathiar Grama Bank Gold Loan Documents Required
At the time of application the following documents are required:
At the time of disbursement the following documents are required:
Puduvai Bharathiar Grama Bank Gold Loan Approval Process
- Visit the gold loan application page on dialabank.
- Verify all the details for the application.
- Select Puduvai Bharathiar Grama Bank as your preferred bank for the gold loan.
- An amortisation table will be displayed with all the details including the loan amount you will be eligible for, the loan tenure, the interest you would be paying per month, and the interest rate.
- Proceed with the application and submit the form.
- One of our relationship managers will contact you to get your gold commodity valued for the loan to be sanctioned.
FAQs on Puduvai Bharathiar Grama Bank Gold Loan Approval Process
Although some banks might require you to be the customer of their to avail a gold loan, many of the banks don’t.
A gold loan overdraft is when the disbursed amount is credited and you only pay for what you have spent. This is kind of like a credit card with a limit. The loan can be completely paid off at once.
A gold loan EMI calculator helps you calculate the EMI you would be paying based on the loan amount you are getting, the tenure and the interest rate.
Table of Contents
- 1 Puduvai Bharathiar Grama Bank Gold Loan Features
- 2 Puduvai Bharathiar Grama Bank Gold Loan Eligibility
- 3 Puduvai Bharathiar Grama Bank Gold Loan Documents Required
- 4 Puduvai Bharathiar Grama Bank Gold Loan Approval Process
- 5 FAQs on Puduvai Bharathiar Grama Bank Gold Loan Approval Process