| Bank Name | Interest Rate Range (%) | Processing Fee (%) | Maximum Loan (Lacs) | Maximum Tenure (Month) | Forclosure Charge | |
|---|---|---|---|---|---|---|
|
6.60% - 8.00%
|
1%
|
25
|
12
|
3%
|
|
|
7.40% - 8.00%
|
1%
|
25
|
12
|
3%
|
|
|
7.35% - 8.00%
|
1%
|
25
|
12
|
3%
|
|
.png)
|
7.00% - 7.50%
|
1%
|
25
|
12
|
3%
|
|
|
8.50% - 9.05%
|
0.5%
|
20
|
12
|
3%
|
|
|
|
7.00% - 7.50%
|
1%
|
20
|
12
|
3%
|
|
|
7.00% - 8.00%
|
1%
|
20
|
12
|
3%
|
|
|
8.15% - 9.00%
|
1%
|
25
|
36
|
3%
|
|
|
7.60% - 8.50%
|
1%
|
25
|
12
|
3%
|
|
|
8.75% - 10.95%
|
1%
|
25
|
12
|
3%
|
|
|
7.50% - 8.50%
|
1%
|
50
|
12
|
3%
|
|
|
8.50% - 9.50%
|
1%
|
25
|
12
|
3%
|
|
.png)
|
7.70% - 8.20%
|
1%
|
25
|
12
|
3%
|
|
|
9.35% - 10.00%
|
1%
|
10
|
12
|
3%
|
|
|
8.95% - 11.02%
|
1%
|
20
|
12
|
2%
|
|
.png)
|
10.00% - 19.76%
|
1%
|
10
|
12
|
3%
|
|
|
7.50% - 8.50%
|
1%
|
10
|
12
|
3%
|
|
|
12.78% - 15.00%
|
1%
|
10
|
12
|
3%
|
|
|
10.00% - 17.00%
|
2%
|
20
|
12
|
3%
|
|
|
10.00% - 11.00%
|
1%
|
25
|
12
|
3%
|
|
|
11.95% - 12.00%
|
1%
|
25
|
12
|
3%
|
|
|
9.99% - 11.50%
|
1%
|
10
|
36
|
3%
|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
6.60% - 8.00% |
|
|
|
7.40% - 8.00% |
|
|
|
7.35% - 8.00% |
|
|
|
7.00% - 7.50% |
|
|
|
8.50% - 9.05% |
|
|
|
7.00% - 7.50% |
|
|
|
7.00% - 8.00% |
|
|
|
8.15% - 9.00% |
|
|
|
7.60% - 8.50% |
|
|
|
8.75% - 10.95% |
|
|
|
7.50% - 8.50% |
|
|
|
8.50% - 9.50% |
|
|
|
7.70% - 8.20% |
|
|
|
9.35% - 10.00% |
|
|
|
8.95% - 11.02% |
|
|
|
10.00% - 19.76% |
|
|
|
7.50% - 8.50% |
|
|
|
12.78% - 15.00% |
|
|
|
10.00% - 17.00% |
|
|
|
10.00% - 11.00% |
|
|
|
11.95% - 12.00% |
|
|
|
9.99% - 11.50% |
|
Gold Loan is one of the preferred Loan in terms of financial needs. Gold Loan interest rates are most affordable. The best part of the gold loan is it does not need any specific purpose to opt. For any purpose you may opt, it might a personal, business, education, marriage, hospital expense & for number of reasons.
Gold is such an asset that can help you in your hurdle times. It requires only minimal documentation. At the same time, you need to meet specific eligibility criteria to avail Loan Against Gold.
Usually, Gold Loan Eligibility Criteria depends on various factors like age of applicant, monthly salary or business income of co-applicant, course type & residency..etc.
Note: - You can avail Maximum Loan Amount on Gold Loan is Up to 90% of Gold Value.
There are factors that affects Gold Loan Eligibility Criteria as given below: -
Loan Amount: - One of the major reasons affecting eligibility is your requirement, as lenders will fund up to 90% of gold value. Therefore, demanding higher loan amount may lower your eligibility criteria.
Lower Income: - Gold loan might be a secured loan, but lender will check your monthly income to your repaying capacity. As higher the monthly income as the Loan amount depends on your eligibility.
Applicant Age: - This is a significant factor affecting your gold loan eligibility, as per the standard terms & norms of age in-between 18 – 60 years for applying gold loan, therefore avoid before & after the age norms for loan rejection.
As most of you, for any type of role one common factors that affect your loan application is none than a credit score, it might be personal loan, home loan, business loan, project loan, car loan & various loan.
Due to some unpaid or late paid payment your credit score ranging had affected a lot, how bad would be your credit score might be, you don’t need to worry when you have one ultimate solution to increase your credit score.
If you have gold ornaments & jewelry with you then, no one can stop you from borrowing loan against your gold. By paying Proper EMI on time your credit score range will gradually increase.
What is a Gold Loan?
It is a loan made sure about against the gold trimmings/Bank coins which a client pledge with the bank. The sum loan amount can be used for individual/business and some other non-speculative?purposes. It's is type of loan that can be profited rapidly and effectively as opposed to going to Pawn broker with higher rate of interest.
What are the advantages of Gold Loan?
Simple and secure assets. Get a loan against the gold you own, to meet your different money-related needs effectively at appealing loan costs, with adaptable repayment choices for added budgetary straightforwardness.
High Loan Value
Loan up to Rs. 20 lakh, to satisfy all your money-related necessities.
Exact Evaluation
In-house assessment of your gold with a carat meter, for extra security of your resources
Is the gold promised with banks safe?
Banks take a great deal of safety measures while putting away your gold and protect it until the loam sum is returned. They comprehend the sentimental worth joined to gold ornaments and go about as overseers while the gold remaining parts with them.
What documents are needed for the approval of your gold loan?
Document needed for approval of your gold loan are :-
What is the punishment for the delay in repayment of loan?
Bank ordinarily force a yearly punishment between 1% to 6% .This is an expansion to the rate that you would be paying for administration your loan.
What are the eligibility measures needed for a Gold Loan?
Eligibility Criteria
So as to apply for a?Gold Loan, you should be:
A trader, farmer, salaried or self-employed proficient, or businessman
Somewhere in the range of 21 and 60 years old
What is the maximum sum that can be approved under the gold loan plan?
The most extreme loan, actually the loan sum amount varies from one to another lenders. It can go between Rs. 1,500 and Rs 1 Crore relying upon the qualification models of specific bank/organization.
How long it will require to finish the gold loan approval measure?
The loan approval measure for gold loan is extremely quick processing. If your application meets all the requirement.
What are the extra fees that I should pay at the hour of taking a loan?
A nominal preparing expense is demanded on your gold loan. The handling expense charged fluctuates starting with one bank then onto the next however for the most part doesn't surpass 2% of the loan sum. Notwithstanding the handling expense, you are relied upon to pay a gold approval charge, which the bank will bring about.
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