Gold Loan Gokak
In a country like India, where gold has an emotional connect with the masses, it is relevant for them to use this gold to solve their money issues and breathe in a sigh of relief. Gold Loan is a secured loan which involves your gold ornaments to be mortgaged with the bank until you repay the loan amount to the bank within the loan tenure.
Gold loan Gokak Interest Rate
Gold loan is available at very easy rates of interest because it comes under the category of secured loans. So the interest rates are less than in comparison to a personal loan or home loans. The annual interest rate lies between 10.75% per annum to 25.00% per annum. Though the interest rates keep on changing mainly depends upon different banks and time to time and person to person.
Eligibility Criteria Gold Loan Gokak
Firstly, the applicant should lie between 18 to 70 years of age group.
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 Gokak
Residence proof: Aadhar Card, Ration Card, Bank Statement (ACTIVE), Electricity Bill of last three months on the name of the borrower, Telephone Bill of previous three months on the name of the applicant, Passport Copy of a borrower.
Identity proof: Aadhar Card, Voters Card, Driving License, Passport, Pan Card of a borrower.
Two copies of Photographs of the borrower.
Benefits of Gold Loan Gokak
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.
100% safety and security for your gold jewellery
Enjoy anytime liquidity
Safety of ornaments is available.
Interest rate of Gold Loan Gokak
| 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 an official website.
First, register yourself at the website of the lender’s portal i.e., www.bookmyloans.in. Fill the details such as the 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 interest.
Why bookmyloans.in
First of all, www.bookmyloans.in offers a secure method of application of the gold loan.
Access gold loan from anywhere, anytime.
Free insurance cover for your gold.
Easy documentation, convenient 24X7 online repayment, instant approval.
Hassle-free, paper-less transaction from your mobile device
Free safe custody for your precious gold.
About Gokak
Gokak is an in the Belagavi District of Karnataka state, India. The population of the town is according to 2011 census is 135,773. The common language in use is Kannada. It has an average elevation of 553 meters.