When a customer deposits gold as collateral security for taking a loan, it is known as a gold loan. The loan amount approved is a certain percentage of the value of the gold that has been pledged. If you require money immediately for immediate expenses and believe to be able to pay it back in a short tenure, then this loan might be a good option.
Interest Rate Gold loan Sattenapalle
Gold loan is available at a very easy rate of interest. The interest rates are very minimal in comparison to a personal loan or a home loan or any other loan. The annual interest rate lies between 10.55% per annum to 24.00% per annum. Though the interest rates keep on changing.
Gold Loan Sattenapalle Eligibility Criteria
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 Sattenapalle
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, Passport Copy of a borrower.
Also, two copies of Photographs of the borrower.
Benefits of Gold Loan Sattenapalle
Firstly, it comes under a secured loan.
The bank does not check CIBIL scores.
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 Sattenapalle 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.
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.
Sattenapalle is a town in Guntur district in Andhra Pradesh state, India. It had a total population of 56,721, according to the 2011 census report. The official language of this town is English, Telugu.