Gold Loan Balla

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Gold Loan Balla

Gold loan is secured loans where gold jewellery or ornaments is used as collateral security. You pledge your gold jewelry with the lender and get a loan. The loan amount is usually a percentage of the gold’s value. You can repay the loan through monthly installments. After the repayment, you get back your gold jewelry in the same shape or condition. Nationalized banks, private banks, and other financial institutions offer these loans at affordable interest rates. Usually, borrowers use this loan to meet an immediate financial need, such as a marriage or a child’s education. Instead of selling gold many people prefer to opt for a loan. A gold loan is a loan where you can use your gold ornaments as a collateral.

Gold loan Balla 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 annual interest rate lies between 10.75% to 25.00%. Though the interest rates keep on changing mainly depends upon different banks and time to time and person to person.

Gold Loan Balla Eligibility Criteria

Firstly, the applicant should lie between 18 to 70 years of age group.

Foremost, the applicant who have more than 10 gm gold to invest can apply for gold loan.

The borrower 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 Balla

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 Balla

  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  Balla

Bank  Gold Loan Rate 
HDFC Bank 10.75%
Yes Bank  10.85%
Axis Bank 10.90%
SBI Gold Loan 11.50%
ICICI Bank 11.75%
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%
IDBI Bank 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.

Why bookmyloan.in

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.

About Balla

Balla is a Jat village of Mann gotra in Assandh tahsil of Karnal district of Haryana. The total geographical area of the village is 2587 hectares. Balla has a total population of 15,187 peoples. There are about 2,803 houses in Balla village. As per 2019 stats, Balla villages comes under Assandh assembly & Karnal parliamentary constituency. Assandh is the nearest town to Balla. The total geographical area of the community is 2587 hectares. Balla has a total population of 15,187 peoples. There are about 2,803 houses in Balla village. As per 2019 stats, Balla villages comes under Assandh assembly & Karnal parliamentary constituency.