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Gold loan Akhnoor

    Gold Loan @ 7%

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    Gold Loan Akhnoor Feature Table:

    Loan Amount Up to Rs. 1 Crore (With Income Proof)
    Gold Loan Akhnoor Interest Rate 7.25% per annum
    Gold Loan Akhnoor Per Gram Rate Per Gram Today is ₹ 5,219
    Processing Fee 1.50% of the Principal Loan Amount
    Prepayment Charges 2%+GST (Within 3 Months), 0 (After 3 months)
    Repayment Tenure 3 Months to 24 Months
    Repayment Scheme Bullet Payment Scheme, Overdraft Scheme

    What is Gold Loan?

    The loan that is given against gold, is known as Gold Loan. This includes the gold ornaments of the borrower excluding the diamond articles and mangal sutra. The borrower keeps his gold ornaments as collateral with the lender and takes the money against those ornaments.. Many go for the fulfillment of their short term goal through gold loans, such as their child’s education, marriage or other family problems. Many think that instead of keeping it idle at home or in a locker, the gold loan is the best option.

    Major Gold Loan Providers in Akhnoor:

    Feature

    HDFC Bank ICICI Bank Muthoot Finance

    Interest Rate

    9.90%

    10.50%

    12%

    Min Loan Amt

    Metro : 25000, Non : 15000

    25000

    15000

    Max Loan Amt 1 Cr 1 Cr

    1 Cr

    Loan Tenure

    3 months to 24 months 9 months to 24 months 1 month to 24 months
    Processing Fee 0.25% to 1.50% of the Loan Amt 0.25% to 1.50%

    Nil

    Preclosure Chgs

    2%, Nil foreclosure charges after 3 months 2%, Nil foreclosure charges after 9 months Nil
    Overdraft Facility Yes Yes

    Yes

    Pay Only Interest Facility

    Yes Yes Yes
    Gold Rate Per Gram 2500 2600

    2700*


    Advantages of taking Gold loan:-

    Processing & Prepayment Fee on Gold Loan Akhnoor:

    Bank

    Processing Fee

    Prepayment Charges

    HDFC Bank Gold Loan

    0.25% to 1.50% 2%, Nil foreclosure charges after 3 months

    Axis Bank Gold Loan

    0.50% to 1.50%

    Nil

    ICICI Bank Gold Loan 0.25% to 1.50%

    2%, Nil foreclosure charges after 9 months

    SBI Gold Loan

    500/- to 0.50% Nil
    Kotak Gold Loan 1% to 2%

    2.25% of foreclosure amount if closed 1 month ahead of the tenure.

    IIFL Gold Loan

    Nil Nil
    Muthoot Gold Loan Nil

    Nil

    Manappauram Gold Loan

    Nil Nil
    PNB Gold Loan 0.70% to 1%

    Nil

    Canara Bank Gold Loan

    1% Nil
    Andhra Bank Gold Loan Nil

    Nil

    Interest Rate:

    1. Generally gold loan is available at the interest rate of 11.5% to 14.5%
    2. ROI for tenure less than 1 year is also available at 1%
    3. Processing fees equals to 2000
    4. Borrower will be given an option to pay only interest during the entire term and at the end of the tenure, you can pay complete borrowed amount in a single shot

    Check Your Eligibility for Gold Loan Akhnoor:

      1. Age: 21 years and above
      2. Profession: Anybody with Steady source of income including: Bank€™s Employees, Pensioners

    Documents for Gold Loan Akhnoor:

        1. Identity Proof (Passport Copy/ Voters ID card/ PAN Card/Aadhaar Card).
        2. Address proof(Passport/ Electricity Bill/Telephone bill/ Aadhaar Card).
        3. Signature proof ( Passport/ PAN Card/Banker€™s verification/ cheque).
        4. 2 passport size photographs

    Know about the terms and conditions:

        1. Foreclosure Charges- charges that are to be paid when the loan is closed before the tenure is completed.
        2. foreclosure charges can be up to 1%.The minimum loan tenure is 6 Months.
        3. So foreclosure charges after 6 months are 0.
        4. Charges for late payment of loan Amount
        5. 2% p.a. as penal interest over and above the applicable rate of interest.