Gold Loan

Many individuals in India opt for a gold loan as gold is largely available in Indian households. A gold loan is a secured loan and thus the interest rates are lower making it an appealing option for most customers. There are many private and public banks that offer gold loans. There are many Non-Banking Financial Companies (NBFCs) that also offer the same.

The process is very simple and fast as the customer just needs to visit the nearest lender’s branch with the gold coins or jewellery that he wants to pledge. The gold is then assessed and about 60% to 75% of the gold’s market value is then released as the loan amount to the customer in under 2 hours. There is very minimal documentation needed for a gold loan. Some of the documents that are generally asked for are passport, driving license, Aadhaar card, voter ID, PAN card or Form 60. As gold loans are secured loans, you do not need to provide the bank with any proof of income.

A gold loan is also known as a secured loan as one offers gold coins or gold jewellery as security against the loan. Gold loans are offered by a number of banks and Non-Banking Financial Companies (NBFCs).

Financial emergencies can happen due to a number of reasons such as a medical emergency, wedding or sudden vacation plan. Personal loans and gold loans have their own set of advantages and disadvantages. Based on what is convenient for you, you can pick which loan to opt for to tide over your financial emergency.

If you are looking to buy a car, then a car loan and a jewel loan (gold loan) have their own set of benefits and can be applied for based on one’s needs and requirements.

Property loans and gold loans are both known as secured loans. This is because the customer provides collateral either in the form of property in the case of property loans or gold in the case of gold loans as security against the money received as a loan. If the customer fails to repay the loan, the lender has the rights to sell the collateral to settle the loan.

In overdraft facility, banks deposit up to 75% value of the gold to your savings account. You can use as much as you require and pay interest for the amount use and the interest rate could change after a year or before as per the bank’s rule.

Hands down, gold loan. A gold loan is a secured loan in which your gold is kept as security with the lender. It has lower interest rates than that of a personal loan and requires minimal documentation. Disbursal is also speedy if you are found eligible and your application is approved.  A personal loan, on the other hand, has a much higher rate of interest since it is an unsecured loan. It is one of the costliest consumer loans in the

A Loan Against Property is a loan where you mortgage your property to the bank or Non-Banking Financial Company (NBFC) for a loan.  The lender holds your property as security until the entire loan is repaid. Once you repay the loan in full including the interest and principal amount, you get back your property.In case you fail to repay the loan, the lender can dispose of your property to recover the unpaid dues.

When you pledge gold – including jewelry and bank-issued coins – as collateral for taking out a loan, it is known as a gold loan. The gold is kept as security against payment default. The customer can get a loan amount that is a certain percentage of the value of the gold that has been pledged.A gold loan is often considered a good option because it has a simple documentation process and disbursal is speedy, if the loa

A home loan does not come cheap even though the interest rate might be lower than that of a gold loan. When it comes to a home loan, you take a larger amount as a loan, and the repayment period can generally run into decades. You end up paying lots more in interest. Whereas a gold loan comes with a shorter tenure. It is cheaper than a personal loan. Also, the purpose of a gold loan is different than that of a home loan. It’s like com

You can apply for a gold loan at any private / public sector bank or non-banking finance companies that offers gold loans. You can simply walk-in to any branch with your ID proof, address proof and passport size photographs, and, of course, your hallmarked gold ornaments. Very often, you will be able to walk out with the loan money.

The simple answer is generally, yes. But it is advisable to improve your credit score and bring it up to at least 750. Doing so would make you eligible for the best interest rates and attractive terms. If you are in need of credit and have a bad credit score, then getting a loan and paying it off diligently could help you improve your score as well. Of course, a lot depends on the severity of your credit situation and whether you

Leading banks and non-banking finance companies in India offer gold loans and various gold loan related schemes. If you are in urgent need of money, you can put your asset to good use by availing a loan against it. You can just walk-in to the nearest branch and get all the information required. Documentation and disbursal is fairly simple and quick.

Your gold loan could be rejected due to any of the following three factors:• The gold you pledged was not of the required purity. ( It has to be minimum 18K purity to be offered as security)• Incorrect documents submittedTalk to the bank/ lender about why your gold loan was rejected. This could help you be better prepared in the future while applying for loans.

A gold loan is a secured loan. it is availed by pledging your gold as collateral. The gold is held as security against defaulters. Banks do not generally look at your credit score while sanctioning a gold loan, since the gold is held as a security with them and they can dispose the gold in case of default. However, availing a secured loan and paying it off in a timely manner would help improve your score as well, and it is a good way to bu

You just need too walk-in to your nearest Axis Bank branch which offers gold loans, with your gold ornaments and requisite documentation – including ID proof and photographs. You can secure a minimum loan amount of Rs.25001 and a maximum of Rs. 20 lakhs, depending on the value of your gold. The loan amount is disbursed the same day if you are found eligible. You can also call their customer care or log a query online.

Getting a gold loan from HDFC bank is fairly easy with over the counter loan disbursement. You can directly walk in to your nearest branch which offers gold loans with your gold ornaments and the following documents: passport, driving license, voters’ ID card, Aadhaar card issued by UIDAI and PAN card.

IOB offers gold loans for business and commercial purposes, known as commercial cash credit against jewelry and gold loan for agricultural purposes. In order to be eligible for commercial cash credit against jewelry you should own hallmarked gold, and be engaged in business activities or be self-employed. You must also be able to demonstrate a stable source of income. Agricultural jewel loans are specifically designed for farmers for agric

You can simply walk into your nearest ICICI Bank branch that offers gold loans with your hallmarked jewelry and avail gold loan of up to Rs. 15 Lakhs instantly, depending of course on the value of the gold. The documentation process is simple and approval is speedy. The loan can be availed across the counter instantly. This is ideal when you are facing an emergency and are in need of money urgently.  You just need to submit your valid

You can make use of online resources in order to calculate the EMI on your gold loan. There are several online calculators available which makes it easy to do the number crunching. You just need to input the loan amount, tenure, interest rate and the calculator will present you with the resultant EMIs instantly.