Gold Loan Banki

Gold Loan @ 7%

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Gold Loan Banki

Gold is one of the most precious, valuable, and useful metals that exists today and also an asset that has an emotional connection with people all over India. Gold Loan is a financial service that is easy to access when you are in urgent need of finances.it is relevant for you to use this gold to solve their money issues and breathe in a sigh of relief. Gold Loan is basically a secured loan that 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 Banki  Interest Rate

In general gold, the loan is available at straightforward 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 Banki 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 Banki

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 Banki

  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 Banki

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 Banki

Banki, is a town and a Subdivision, Legislative Council constituency and Notified Area Council in Cuttack district in the state of Odisha, India. Banki is famous for the Charchika Temple, dedicated to the deity of Chamunda, the eight armed goddess, an incarnation of Durga. The word Banki is derived from Bakra Durg, as the fort of the king of Banki is slightly round shaped, the Oriya word Bakra implying bend/round, was the source of origin. Many semi urban villages surround Banki, which are the primary source of economy and trade needs as well as human resources.