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Gold loan Barnala

    Gold Loan @ 7%

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    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

    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*

     

    Documents Required for Gold Loan:

    1. Proof of Identity – (Passport / Voter’s ID / Driving License/PAN Card/Aadhar Card)
    2. Signature Proof (Passport /Driving License/Banker’s verification)
    3. Address Proof- (Ration card /Driving License/ Voter’s ID / Utility Bill (any one within last 3months) / Registered Rental Agreement. / Credit Card Statement / Passport )
    4. Date of Birth Proof ( Driving Licence / PAN Card / Passport / Birth Certificate / 10th / 12th mark sheet bearing date of birth)
    5. 2 passport size photographs

    Please note that the loan is granted for Agricultural/Business/ personal purposes. The loan amount cannot be use  for the purchase of Gold Coins, jewels, land or other speculative purposes

    1. Minimum age of applicant: 21 years
    2. Maximum age of applicant at loan maturity: 65 years
    3. Gold jewellery should be owned by the applicant or any of the family members.

    Processing & Prepayment Fee on Gold Loan Barnala:

    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