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Gold Loan Nawanshahar

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    Gold Loan Nawanshahar


    What is Gold Loan?

    Gold Loan is a very simple concept and in this type of loan, A customer pledges gold. It may include jewelry, ornaments etc. as security for taking the loan. This type of loan is useful if you are in need of money for immediate expenses. And also expect to be able to pay it back in the short term. It is cheaper and faster as compared to personal loan. The banker uses the gold as security against latent mortgage default by the customer. 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 analysis of basic documents. The amount is then given to the customer in the form of cash, account transfer or demand draft.

     

    Advantages of taking Gold loan:-

    • Easy and Hassel-free Process
    • Approval in 30 minutes
    • Simple Documentation
    • Dedicated Assistance
    • No salary certificate or credit card history is required
    • Lowest Interest Rate

    Interest Rate of Gold Loan


    Interest Rate:

    • Generally gold loan is available at the interest rate of 11.5% to 14.5%
    • ROI for tenure less than 1 year is also available at 1%
    • Processing fees equals to 2000
    • 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

    Eligibility & Documents

    Check Your Eligibility:

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

      • Documents

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

      Know about the terms and conditions:

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

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