Gold Loan is a loan against gold. Gold loans are of short-duration loans, and the repayment period can range from one month to a few years. If you are in urgent need of money for immediate expenses, then this loan might be a good option.
Gold loan Saravanampatti Interest Rate
Gold loan is available at very minimal and easy rates of interest because it comes under the category of secured loans. Many banks or NBFCs provide different interest rates to different customers. The rate of interest on a gold loan is 10.75% per annum and up to 25% per annum.
Eligibility Criteria Gold Loan Saravanampatti
Firstly, the applicant should lies 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 applicant must be a resident of India.
Lastly, on 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 Saravanampatti
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 (if tenant), Passport Copy of a borrower.
Also, two copies of Photographs of the borrower.
Benefits of Gold Loan Saravanampatti
Firstly, it comes under the category of secured loan.
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.
Gold Loan Saravanampatti Procedure
The applicant has to visit the site Bookmyloans
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.
First of all, Bookmyloans 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.
Easy documentation, instant approval, convenient 24X7 online repayment.
Hassle-free, paper-less transaction from your mobile device.
Free safe custody for your valuable gold.
No hidden charges, fully transparent.
Saravanampatti is a city located in Coimbatore district in the Indian state of Tamil Nadu. It had a total population of 32,920 out of which males constitute 52% and females 48% of the population. Here, Tamil is the official language of this city.