Gold Loan
Gold Loans
A gold loan, also known as a loan against gold, is a secured loan obtained by the borrower from the lender in exchange for the pledge of certain gold items (within the range of 18 to 24 carats) as security. Based on the gold’s current market worth and quality, the loan amount is normally up to 80 per cent of the total amount of the gold.
The interest rates on gold loans, which are obtained by pledging gold, are between 7.35 per cent and 29 per cent p.a., which are considerably lower than those on other types of loans.
Gold loan interest rate:
Starting fromWith the down payment of 25% we provide Gold loan for a repayment tenure upto ……
| Sr No | Gold Valuation | Rate Of Intrest |
|---|---|---|
|
1 |
UP TO GOLD VALUATION 50% |
10% |
|
2 |
UP TO GOLD VALUATION 51 % TO 70% |
11% |
|
3 |
UP TO GOLD VALUATION 71% TO 80% |
13% |
|
4 |
UP TO GOLD VALUATION 81 TO 85% |
15% |
|
5 |
UP TO GOLD VALUATION 85 % TO 90% |
17% |
Required Document
- Aadhaar Card Xerox
- Voting Card Xerox
- PAN Card Xerox
- Light Bill Xerox
- Ration Card Xerox
- Photo 4
- Vehicle key
- Vehicle Quotation
- Verify signature
- Driving License
- Bank Passbook Xerox (Nationalized Bank)
- Encumbrance the name of the institution on the RC book and insurance receipt
Guarantor 2
- Aadhaar Card Xerox
- Voting Card Xerox
- PAN Card Xerox
- Light Bill Xerox
- Ration Card Xerox
- Photo 1
Note :- Borrower and both guarantors must have membership and income proofs of the organization
10% reduction in loan amount
Interest Rate :- 15 %
Rate of interest on arrears :- 2 %
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