Gold loan means when a customer deposits gold as collateral security for taking a loan. Gold loan Susari is short-duration loan, and the repayment period can be from one month to a few years. This loan might be a good option if you require money urgently.
Gold loan Susari 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 that of a personal loan or home loans. The interest rate of gold loan on an average is 10.75% per annum and up to 25% per annum. Different banks or NBFCs offer different interest rates to various customers.
Eligibility Criteria Gold Loan Susari
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.
Documentation for Gold Loan Susari
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.
Agriculture Proof: If the applicant applying for agriculture gold loan then proof of ownership of land is required.
Also, two copies of Photographs of the borrower.
Benefits of Gold Loan Susari
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.
Gold Loan Susari 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.
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
Susari is a village in Nisarpur Tehsil in Dhar District in the Indian state of Madhya Pradesh. It comes under the Indore Division. Here, the local language is Hindi. Its average height above the sea level is 288 meters.