Gold Loan Barnala Features:
Loan Amount | Up to Rs. 1 Crore (With Income Proof) |
Gold Loan Barnala Interest Rate | 7.0% per annum |
Gold Loan Barnala Per Gram | Rate Per Gram Today is ₹ 5,268 |
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?
Gold Loan is a very simple concept. This type of loan is very useful if you are in a need of money for immediate expenses. And also expect to be able to pay it back in the short term. It is also cheaper and faster as compared to the personal loan. The loan that is against gold is a specific percentage of the value of the gold. The gold has been pledged and the loan is sanctioned after the analysis of the basic documents. The amount is then given to the customer in the form of cash or account transfer or demand draft. These are short-term loans as well as the repayment period can vary from one month to a few years.
Major Gold Loan Providers in Barnala:
Feature Interest Rate 9.90% 10.50% 12% Min Loan Amt Metro : 25000, Non : 15000 25000 15000 1 Cr Loan Tenure Nil Preclosure Chgs Yes Pay Only Interest Facility 2700*
HDFC Bank
ICICI Bank
Muthoot Finance
Max Loan Amt
1 Cr
1 Cr
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%
2%, Nil foreclosure charges after 3 months
2%, Nil foreclosure charges after 9 months
Nil
Overdraft Facility
Yes
Yes
Yes
Yes
Yes
Gold Rate Per Gram
2500
2600
Documents Required for Gold Loan:
- Proof of Identity – (Passport / Voter’s ID / Driving License/PAN Card/Aadhar Card)
- Signature Proof (Passport /Driving License/Banker’s verification)
- Address Proof- (Ration card /Driving License/ Voter’s ID / Utility Bill (any one within last 3months) / Registered Rental Agreement. / Credit Card Statement / Passport )
- Date of Birth Proof ( Driving Licence / PAN Card / Passport / Birth Certificate / 10th / 12th mark sheet bearing date of birth)
- 2 passport size photographs
- Minimum age of applicant: 21 years
- Maximum age of applicant at loan maturity: 65 years
- Gold jewellery should be owned by the applicant or any of the family members.
Processing & Prepayment Fee on Gold Loan Barnala:
Bank Prepayment Charges HDFC Bank Gold Loan Axis Bank Gold Loan 0.50% to 1.50% Nil 2%, Nil foreclosure charges after 9 months SBI Gold Loan 2.25% of foreclosure amount if closed 1 month ahead of the tenure. IIFL Gold Loan Nil Manappauram Gold Loan Nil Canara Bank Gold Loan Nil
Processing Fee
0.25% to 1.50%
2%, Nil foreclosure charges after 3 months
ICICI Bank Gold Loan
0.25% to 1.50%
500/- to 0.50%
Nil
Kotak Gold Loan
1% to 2%
Nil
Nil
Muthoot Gold Loan
Nil
Nil
Nil
PNB Gold Loan
0.70% to 1%
1%
Nil
Andhra Bank Gold Loan
Nil