Gold loan means when a customer pledges gold as collateral security for taking a loan. Gold loans are short-period loans, and the repayment period can be done from one month to a few years. This loan might be a good option if you require money urgently.
Gold loan Kamshet Interest Rate
This loan is available at very easy rates of interest because it comes under the category of secured loans. The interest rates are less than in comparison to a personal loan or home loan. The interest rate of gold loan on an average is 10.75% per annum and up to 25% per annum. Different banks, financial institutions, or NBFC offer different interest rates to various customers.
Eligibility Criteria Gold Loan Kamshet
The applicant should fall between 18 to 70 years of age group.
The applicant having more than 10 gm gold, can apply for gold loan.
The applicant 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 Kamshet
Identity Proof: Aadhar Card, Voters Card, Driving License, Passport, Pan Card of a borrower.
Address Proof: Aadhar Card, Ration Card, Bank Statement (ACTIVE), Electricity Bill of last three months on the name of the applicant/ Telephone Bill of previous three months on the name of the applicant, Passport Copy of a borrower.
Two copies of Photographs of the borrower.
Benefits of Gold Loan Kamshet
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 Kamshet
| 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
The applicant has to visit the site www.bookmyloans.in
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.
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.
Why bookmyloans.in
First of all, www.bookmyloans.in offers a straightforward 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, the company provides the document pickup facility from your doorstep.
Access gold loan from anywhere, anytime
Free insurance cover for your gold
Easy documentation, instant approval, convenient 24X7 online repayment
Hassle-free, paper-less transaction from your mobile device
Open safe custody for your valuable gold
No hidden charges, fully transparent
About Kamshet
Kamshet is a village situated in Mawal taluka of Pune district in the state of Maharashtra, India. The total population was 828, as per 2011 census report. The official language is Marathi, and another language is Hindi.