Gold loan is the loan given against the gold as the name suggests. Many nationalized banks, private banks, and other financial companies offer this loan at attractive rates. Many go for this loan for a short duration to meet the requirement of their children’s education, marriage, and other economic problems in the family. And also keeping the gold n the home or locker, loan against gold is the best option.
Gold loan Jhumri Telaiya 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% 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 Jhumri Telaiya 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 Jhumri Telaiya
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 borrower, Telephone Bill of previous three months on the name of the applicant, Passport Copy of a borrower.
In addition to that, two copies of Photographs of the borrower.
Benefits of Gold Loan Jhumri Telaiya
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 Jhumri Telaiya
|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 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.
First of all, www.bookmyloans.in offers a secure 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 Jhumri Telaiya
Jhumri Telaiya is a city in the Koderma District of Jharkhand, India. It is situated in the Damodar Valley. Its average height above the sea level is 383 metres. The total population, according to the 2011 census, was 87,867.