About Gold Loan Babuganj
Gold is a precious metal. It is used for marriage or on a special occasion but it can also be used for investment purpose. It does not have depreciating value, and its value in coming years will increase definitely.
With the help of a gold loan you can get money on easy terms by depositing gold as collateral security against your loan amount. It is a quick loan one can opt for and can get it with easy terms and conditions in comparison to a home loan, personal loan, car loan.
Gold loan Babuganj Interest Rate
In general gold, the 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 upto 25% per annum. Different banks, financial institutions or NBFC provide different interest rates to different customers.
Gold Loan Babuganj Eligibility Criteria
Firstly, the applicant should lie 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.
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 Babuganj
Certain documents are needed to get a gold loan. These are as follows:
IDENTITY PROOF: Aadhar Card, Voters Card, Driving License, Passport, Pan Card of a borrower.
RESIDENCE PROOF: Aadhar Card, Ration Card, Bank Statement (ACTIVE), Electricity Bill of last three months on the name of the applicant/ Telephone Bill of previous three months on the name of the applicant, Passport Copy of a borrower.
Two copies of Photographs of the borrower.
Benefits of Gold Loan Babuganj
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.
Interest rate of Gold Loan Babuganj
|Bank||Gold Loan Rate|
|SBI Gold Loan||11.50%|
|IIFL Gold Loan||11.75%|
|Allahabad Bank Gold Loan||11.75%|
|Muthoot Gold Loan||12.00%|
|Federal Bank Gold Loan||12.00%|
|Manappuram Gold Loan||12.25%|
|PNB Gold Loan||12.25%|
Gold Loan procedure
The applicant has to visit the site www.bookmyloan.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.bookmyloan.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.
Babuganj is a small Village/hamlet in Lalganj Block in Pratapgarh District District of Uttar Pradesh State, India. It comes under Babuganj Panchayath. It belongs to Allahabad city. It is located 23 KM far from Pratapgarh, 8 KM from Lalganj, 154 KM from State capital Lucknow.