Gold Loan Ferozpur Cantt

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Gold Loan Ferozpur Cantt

Every secured loan requires the borrower to keep some security against the loan. It is necessary for a secured loan. In this case, Gold as used as security against the loan. It does not take much time to get the amount in hand. The lender bank of NBFC will check the grams and purity of gold and give you a valuation based on that.

Gold loan Ferozpur Cantt Interest Rate

Gold loan is available at a very easy and minimal rate of interest. The interest rates are less than that of a personal loan or home loans. The annual interest rate lies between 10.55% to 24.00%. Though the interest rates keep on changing mainly depends upon different banks and time to time and person to person.

Eligibility Criteria of Gold Loan Ferozpur Cantt

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 Ferozpur Cantt

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.

Agriculture proof: Document for agriculture land proof.

Also two copies of Photographs of the borrower.

Benefits of Gold Loan Ferozpur Cantt

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 Ferozpur Cantt

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 information which is needed.

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 Ferozpur Cantt

Firozpur Cantonment town in Firozpur district in the Punjab state, India. Firozpur Cantonment had a population of 57,418, as per 2001 census India. This town has an average literacy rate of 75%.