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 Sughad 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 Sughad 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 Sughad
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 Sughad
Residence proof: Aadhar Card, Ration Card, Bank Statement (Active), Electricity Bill or Telephone Bill of last three months on the name of the borrower (if tenant), Passport Copy of a borrower.
Identity proof: Aadhar Card, Voters Card, Driving License, Passport, Pan Card of a borrower.
Besides, two copies of Photographs of the borrower.
Benefits of Gold Loan Sughad
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.
Gold Loan Sughad 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., Bookmyloans
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, Bookmyloans 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.
Sughad is a town in Gandhinagar City in the Indian state of Gujarat. Here, Gujarati is the local language. Its average height above the sea level is 78 meters.