About Gold Loan Bharni
Gold loan is a loan on gold. Anyone having gold in the form of jewellery can take loan from banks or financial institutions. When you go to a bank for gold loan, they first evaluate the value of gold on the basis of market price of gold, quantity and its quality. After evaluation, lender offers the loan amount to the customer which cash equivalent usually 60% of the amount of gold.
Gold loan Bharni Interest Rate
Gold loan is available at manageable interest rates, and it comes under the category of secured loans. The interest rate of gold loan on an average is 10.75% per annum and upto 25% per annum. Different banks, financial institutions or NBFC provide different interest rates to different customers.
Gold Loan Bharni Eligibility Criteria
Firstly, the applicant should lie between 18 to 70 years of age group.
Foremost, the applicant who has more than 10 gm gold to invest can apply for gold loan.
The borrower 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 Bharni
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 last three months on the name of the applicant( if tenant), Telephone Bill of previous three months on the name of the applicant (if tenant), Passport Copy of a borrower.
Two copies of Photographs of the borrower.
Benefits of Gold Loan Bharni
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 Bharni
| Bank | Gold Loan Rate |
| HDFC Bank | 10.75% |
| Yes Bank | 10.85% |
| Axis Bank | 10.90% |
| SBI Gold Loan | 11.50% |
| ICICI Bank | 11.75% |
| 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% |
| IDBI Bank | 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 i.e., www.bookmyloans.in. Fill the details such as quantity of gold you have with yourself, how much loan you want to approve.
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 essential 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.
Why bookmyloans.in
First of all, www.bookmyloans.in offers an 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 a facility of documentation pickup from your doorstep.
About Bharni
Bharni is a village panchayat located in the Bilaspur district of Chhattisgarh state, India. Their nearest state capital from Bharni is Ranchi, and its distance is 362.4 KM. The native language of Bharni is Punjabi and most of the village people speak Punjabi. Bharni people use the Punjabi language for communication.