Gold loan Devanahalli

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Gold loan Devanahalli

Every secured loan requires the applicant to keep some security against the loan. In this case, Gold as used as collateral against the loan. The lender bank or NBFCs will check the quantity and purity of gold and give you a valuation based on that.

Gold loans are short-duration loans, and the repayment period can range from one month to a few years.

Gold loan Devanahalli Interest Rate

Gold loan is available at very easy rates of interest. The interest rates are very less in comparison to home loan or personal loan. The interest rate of gold loan on an average is 10.75% per annum and up to 25% per annum. Various banks, financial institutions, or NBFC offer different interest rates to different customers.

Eligibility Criteria Gold Loan Devanahalli

The applicant should lies 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 Devanahalli

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 Devanahalli

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 Devanahalli

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.

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

Furthermore, the company provides the document pickup facility from your doorstep.

About Devanahalli

Devanahalli is a town and Municipal body in Bangalore Rural district in the state Karnataka, India. Devanahalli had a population of 23,190, as of 2001 India census.