In India, a gold loan is the best option to raise funds for needs. In India, there is a sentimental value attached to a goal. Gold ornaments and jewelry are quite popular in India. The procedure to check the goal on eligibility is simple and expected of work status, you can qualify for this loan if you possess sufficient gold assets.
Everyone can use a gold loan calculator to calculate their amount. This loan is available only against gold jewelry. The best thing about a gold loan is that any individual who possesses gold ornaments is eligible to take a fold loan. You do not need to produce any income proof documents.
Some basic guidelines are:
- Any Indian citizen above the age of 18 years and a maximum of 75 years is eligible to apply for a jewelry mortgage.
- Most Indian banks offer jewelry mortgages to salaried businessmen, employees, and self-employed professionals.
- The minimum purity of the deposited gold must be 18 carats and up to a maximum of 22 or 24 karats. Gold coins are accepted only if they are 24 karats with a maximum weight of 50 grams.
Documents required for a gold loan are identification proof (driving license, PAN card, passport, or voter ID card), address proof (rent agreement, driving license, passport or utility bills like gas or electricity bills), and additional items (two recent passport-sized photographs of the applicants).
These days online gold loan are more attractive because they are easy to apply for. All you need to do is to fill up the online application form on websites with some basic information. The company provides safe custody of your gold for the entire finance tenure.
The interest rate of gold loans depends on the schemes. And the customers need not be existing customers of the bank.
However, while availing of the gold loan, customers should open a savings bank/current account facility with the bank which will enable the consumer to not only enjoy the service of the bank but also assist them in serving the loan conveniently.
Low-Interest Gold Loans in India
If you are suffering from an urgent cash requirement you can visit Rupeek to raise funds for your urgent requirement. Rupeek offers some amazing offers on gold loans. Service provided by the Rupeek app is bang right on time and the best thing is that they charge no extra fees on gold loans or for doorstep services.
When you check gold loan eligibility you will find out that the right bank will offer a high loan value ratio. Before you apply for a gold loan make sure you use a gold loan eligibility calculator to calculate your gold loan amount.
Calculating your gold loan will help you to choose the best scheme or offer for your gold and to understand which scheme is best for you. Rupeek offers various schemes to their customers and their service is very satisfying. Their loan calculator on their website is really amazing and they have a high-speed procedure to get a loan.