Gold Loan Ganderbal

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Gold Loan Ganderbal

Gold loan is the loan given against the gold as the name suggests. Many nationalized banks, private banks, and other financial companies offer this loan at attractive rates. Many go for this loan for a short duration to meet the requirement of their children’s education, marriage, and other economic problems in the family. And also keeping the gold n the home or locker, loan against gold is the best option.

Gold loan Ganderbal 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 in comparison to a personal loan or home loans. The annual interest rate lies between 10.75% to 25.00%. Though the interest rates keep on changing mainly depends upon different banks and time to time and person to person.

Gold Loan Ganderbal 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 borrower 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 Ganderbal

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 borrower, Telephone Bill of previous three months on the name of the applicant, Passport Copy of a borrower.

In addition to that, two copies of Photographs of the borrower.

Benefits of Gold Loan Ganderbal

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  Ganderbal

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

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.

First, register yourself at the website of the lender’s portal i.e., www.bookmyloans.in. Fill the details such as the quantity of gold you have with yourself, how much loan you want to approve.

After that, you should mention your contact information.

But after applying for a gold loan online, you have to visit your lender.

Is Gold Loan secured

Yes, it is essential to note that the gold loan comes in the category of secured loans. Gold loans are secured against gold because your gold will be released on payment of the loan amount taken by the borrower with interest.

Why bookmyloans.in

First of all, www.bookmyloans.in offers a secure method of application of the gold loan.

Access gold loan from anywhere, anytime.

Easy documentation, instant approval, convenient 24X7 online repayment.

Furthermore, the company provides a facility of documentation pickup from your doorstep.

About Ganderbal

Ganderbal is a town and a municipality body in Ganderbal district in the state of Jammu and Kashmir, India. It has an average distance above the sea level 1,619 metres. Ganderbal had a population of 297446, as of 2011 India census.