Gold loan Bilga

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Gold loan Bilga

Gold loans are short-duration loans, and the repayment period can range from one month to a few years. If you are in crucial need of money for immediate expenses and expected to be able to pay it back in a short tenure, then this loan might be a good option.

Gold loan Bilga Interest Rate

Gold loan is available at very easy rates of interest because it comes under the category of secured loans. The interest rates are less than that of a personal loan or home loans and other loans. Many banks, financial institutions or NBFC provide different interest rates to different customers. The interest rate of gold loan on an average is 10.75% per annum and upto 25% per annum.

Gold Loan Bilga 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 Bilga

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 Bilga

  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 Bilga

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.bookmyloans.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 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.

Easy documentation, instant approval, convenient 24X7 online repayment

Hassle-free, paper-less transaction from your mobile device

Free safe custody for your valuable gold

No hidden charges, fully transparent

About Bilga

Bilga is a large village located in the district Jalandhar in the Indian state of Punjab. This village is near the city of Nurmahal which is a sub-tehsil of Jalandhar. The majority of people living in Bilga are of Sikh religion. The population of the village was 10,125, as per 2011 census.