About Gold Loan Bazpur
A gold loan is an amount of money which is lent out to you against your gold or gold ornaments by a bank or NBFC, these are financial institutions which are authorized to give you money against the value of your gold.
Gold loans are one of the fastest and easiest ways to borrow money from the banks/financial institutions. It’s a type of secured loan and all secured loans require something to be kept as security to the lender. In most cases up to 80% of the value of the gold can be given as a loan and requires least of paperwork and hassle. That’s because the amount they’re providing is always less than the actual value of the gold.
Gold loan Bazpur Interest Rate
Gold loan is available at very easy rates of interest because it is a secured loans. The annual interest rate lies between 10.55% to 25.00%. Though the interest rates keep on changing mainly depends upon different banks and time to time and person to person.
Gold Loan Bazpur Eligibility Criteria
Firstly, the applicant should lie between 18 to 70 years of age group.
Foremost, the applicant who have more than 10 gm gold to invest can apply for gold loan.
The borrower of money must be a resident of India.
The bill of gold which is to be pledged, should be in the name of the applicant or any family member.
Documents required for Gold Loan Bazpur
Certain documents are needed to get a gold loan. These are as follows:
IDENTITY PROOF: Aadhar Card, Voters Card, Driving License, Passport, Pan Card of a borrower.
RESIDENCE PROOF: Aadhar Card, Ration Card, Bank Statement (ACTIVE), Electricity Bill of previous three months, Telephone Bill of last three months on the name of the applicant, Passport Copy of a borrower.
Two copies of Photographs of the borrower.
Benefits of Gold Loan Bazpur
Firstly, it comes under a secured loan.
Banks do not check CIBIL scores for loan approval.
It has a low interest rate in comparison to a personal loan or any other loan.
Income proof is not required to get loan approval.
Safety of ornaments is available.
Interest rate of Gold Loan Bazpur
|Bank||Gold Loan Rate|
|SBI Gold Loan||11.50%|
|IIFL Gold Loan||11.75%|
|Allahabad Bank Gold Loan||11.75%|
|Muthoot Gold Loan||12.00%|
|Federal Bank Gold Loan||12.00%|
|Manappuram Gold Loan||12.25%|
|PNB Gold Loan||12.25%|
Gold Loan procedure
Nowadays, you can also apply for a gold loan through online with the help of the bank’s or NBFC’s mobile application or through official website.
First, register yourself at the website of lender’s portal. Fill the details such as quantity of gold you have with yourself, how much loan you want to approved.
After that, you should mention your contact information.
But after applying for a gold loan online you have to visit your lender.
Is Gold Loan secured
Yes, it is important to note that the gold loan comes in the category of secured loans. Gold loans are secured against gold because your gold will be released on payment of the loan amount taken by the borrower with the interest.
First of all, www.bookmyloans.inoffers a easy method of application of the gold loan.
Access gold loan from anywhere, anytime.
Easy documentation, instant approval, convenient 24X7 online repayment.
Furthermore, the company provides facility of documentation pickup from your doorstep.
Bajpur is a city in Udham Singh Nagar district in the state of Uttarakhand, India. It was established by the most powerful rulers of Chand dynasty which was Baz Bahadur since 1950. The average literacy rate of Bazpur is 66%. As of 2001 India census, Bazpur had a population of 21,782. Bazpur has the singular achievement of possessing the first co-operative sugar mill, which was dedicated to the nation by Jawahar Lal Nehru.