The loan that the customer takes 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. We will provide you all the information that you may need for taking Gold Loan Nongstoin.
Advantages of taking a Gold loan Nongstoin
Firstly, the process of taking the Gold Loan is completely Easy and Hassle-free.
Moreover, the loan gets approved within a time of 30 minutes. The loan on Gold does not include much time.
Next is, the documents required for taking gold loan are also very less and are readily available with the customer.
Further, the customer need not have any salary certificate for claiming a Gold Loan.
The Interest Rate charged by the banks on the Gold Loan is also very less. These are very less as compared to other Loans.
Lastly, the credit history of the customer and the CIBIL score of the customer does not affect this capability to take the Gold Loan.
Generally, the gold loan is available at the interest rate of 10% to 12%
Then, ROI for tenure less than 1 year is also available at 1%
In addition to this, Processing fees equal to 2000
Lastly, The borrower will be given an option to pay only interest during the entire term, and at the end of the tenure, you can pay the complete borrowed amount in a single shot
Check your eligibility
Age: 21 years and above
Profession: Anybody with Steady source of income including Bank’s Employees, Pensioners
The Gold should be of 18 carts to 22 carats, and weight more than 10 grams.
The person on whose name the bank gives the Gold Loan should be present when the customer has to take back the Gold after the payment of the loan amount.
The documents required for taking Gold Loan are as follows:
Identity Proof (Passport Copy/ Voters ID card/ PAN Card/Aadhaar Card).
Signature proof ( Passport/ PAN Card/Bankers verification/ cheque).
Land Proof If the customer wants to take the agricultural loan, then he must hold agricultural proof. This document is required when the amount of Gold is of more than 1 lakhs.
Address proof (Passport/ Electricity Bill/Telephone bill/ Aadhaar Card).
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 six months are 0.
Charges for late payment of Loan Amount
2% p.a. as penal interest over and above the applicable rate of interest.
How to apply through loan now.
First of all visit our website www.loannow.in
Then fill there the Gold Loan Application Form.
Lastly, you will get a call from our representatives who will give you full details about the loan.
Nongstoin is the headquarter of West Khasi Hills district in the state Meghalaya, India. For more information on Gold Loan, you can visit our official website.