Gold Loan Bidhuna

Gold Loan @ 7%

Apply & Get Instant Money

About Gold Loan Bidhuna

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 collateral.

Gold loan Bidhuna 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 upto 25% per annum. Different banks, financial institutions or NBFC provide different interest rates to different customers.

Gold Loan Bidhuna 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 Bidhuna

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 Bidhuna

  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 Bidhuna

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

Online procedure

Nowadays, you can also apply for a gold loan through online with the help of the bank’s or NBFC’s mobile application or through an official website.

Visit the website www.bookmyloans.in

Register yourself at the website of lender’s portal. Fill the details such as the quantity of gold you have with yourself, how much loan you want to approved.

After that, you should mention your contact information.

  But applying for a gold loan online does not mean that you will not have to visit your lender. To avail the facility of the online gold loan, you will have to visit your lender at least once to deposit your gold articles.

Is Gold Loan secured

Yes,  Gold loans are secured against gold i.e your gold will be released on payment of the loan amount taken by the borrower with the interest.

Why bookmyloans.in

First of all, www.bookmyloans.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 Bidhuna

Bidhuna is a town in Auraiya district in the state of Uttar Pradesh, India. Bidhuna had a population of 27,161, according to the 2001 India census. Bidhuna has an average literacy rate of 74%.