Gold Loan Adamwal
Gold is considered as a status of royalty, especially in India, buying and selling gold is an old tradition of Indian culture. However, the availability of gold loan as financial service provides a different scenario of how people use this precious metal. Nowadays, people buy gold, not for their status symbol but to secure their future. Gold Loan Adamwal 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.
Gold Loan Adamwal Eligibility
There are some eligibility criteria given which the applicant has to qualify to get a gold loan. These are
First of all, the applicant should have Indian citizenship.
After that, the minimum age of the applicant should be 18 years.
Furthermore, to apply for a gold loan, you should have a minimum of 10 grams of gold.
Documents Required for Gold Loan Adamwal
However, the process of documentation in a gold loan is very easy and simple, but, still, certain documents are required to get a gold loan.
Identity Proof: first of all, one proof of identity is required. Anyone of the given proofs is accepted (Aadhar Card/Voters Card/Driving License/ Passport)
Residence Proof: After that, one proof of residence is also required to get a gold loan. It can be (PAN Card/Ration Card/ Electricity Bill of last three months with the name of the applicant/Aadhar Card/ Telephone Bill of previous three months with the name of applicant / Passport Copy)
In Addition to that, two passports sized colored photographs are also required to get a gold loan.
Proof of ownership of Land is required if you are applying for an agriculture gold loan.
Gold Loan Adamwal Rate of Interest
A part of a loan that is charged as interest to the borrower, which is expressed as an annual percentage of the loan is said to be the interest rate. The gold loan is provided at the best interest rate as compared to other unsecured loans.
Generally, the gold loan is provided at the interest rate of 11.5% to 14.5%
Gold Loan Adamwal interest rate-10.70%.
Offer a low processing fee that is 0.85%.
Pre-closer charges range from 0–2%.
Features of Gold Loan:
It is noteworthy that the Gold Loan comes with so many features. So let us discuss them one by one.
First of all, the gold loan is very easy to apply.
After that, gold Loan gets disbursed within 15 minutes.
Furthermore, the interest rates on the gold loan are quite affordable and satisfactory.
Besides that, in a gold loan, the documentation process is very easy and simple.
Finally, the gold loan required no credit checks.
Gold Loan Adamwal Procedure:
First of all, the applicant has to visit www.bookmyloans.com.
After that, the applicant fills the application with the required information.
But the applicant should fill the contact number.
After that, the applicant gets a call from our side if he/she is eligible.
Forms of Gold that is acceptable
Not every type of gold is considered by the bank to provide the Gold Loan. There are some restrictions.
First of all, the purity of the gold should lie in between 18 Karats to 22 Karats.
After that, gold in the form of jewelry is accepted.
Besides that, raw is gold is not accepted.
Furthermore, gold coins that weigh less than 50 Grams are readily accepted.
Is Gold Loan Secured?
Yes, it is essential to note that the gold loan comes in the category of secured loans. Because in a gold loan, the customers put their gold ornaments into the bank’s locker as security or as collateral. If the customer is unable to return the gold loan on time, then the bank is liable to sell his gold ornaments. On the other hand if the applicant is able to repay the amount of loan then the bank returns his/her gold ornaments in its same shape.
Why Bookmyloans.in?
First of all, www.bookmyloans.in offers a very easy process of application of the gold loan.
After that, the customer gets a good comparison of the interest rates of other banks as well.
Furthermore, we provide the document pickup facility from your doorstep.
About Adamwal
Adamwal is a City in Punjab State, India. If you are interested in availing Gold Loan Adamwal feel free to fill above given form, and our customer service will further contact you for further queries.