Gold loan Bodeli

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Gold loan Bodeli

Gold is a precious metal. It is used for marriage or on a special occasion, but it can also be used for investment purposes. It does not have a depreciating value, and its value in the 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 Bodeli Interest Rate

Interest rate is the amount which is charged for the use of assets as a percentage on the principal amount. Gold loan is a quickest and most accessible form to raise funds on short notice low-interest rate. The interest rate of gold loan on an average is 10.75% per annum and upto 25% per annum. Various banks, financial institutions or NBFC provide different interest rates to different customers.

Eligibility Criteria Gold Loan Bodeli

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 Bodeli

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 Bodeli

  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 Bodeli

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.

About Bodeli

Bodeli is a town in the eastern part of the state of Gujarat, India. Earlier it was a part of the Vadodara district, but after the formation of Chhota Udaipur district, it counts in this district. It had an average literacy rate of 72% and a population of 10,494.