ESAF Small Finance Bank Gold Loan Key Features – Apply Now!
|Gold Loan Interest Rate||7.11% per annum|
|Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,032
|Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Gold Loan Repayment Tenure||3 Months to 24 Months|
|Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
What is Gold Loan?
A Gold loan is a short to medium term unsecured loan granted to an individual. It is commonly used to meet such financial needs as debt consolidation, wedding expenses, unexpected medical costs, home renovation, and others. The flexibility of usage, minimal documentation, and quick processing make the personal loan a preferred financing option. ESAF Small Finance Bank Gold Loan Gold loan is available at very fewer interest rates in many banks. So many nonbanking financial companies also provide you with a Gold Loan, and very less paperwork is required to complete these formalities.
Why ESAF Small Finance Bank Gold Loan?
ESAF Small Finance Bank Gold Loan provides you many features and benefits.
The loan sanction and disbursal process are fast and straightforward. The documents required are simple, and after submitting the necessary documents, the loan is issued instantly. Disbursement can be made either by a credit to the Savings Account or Current Account or any other appropriate account of the borrower.
The bank charges low-interest rates for Gold Loans so that the customers can afford the loan repayment easily without having to worry about the high-interest rates.
Eligibility of ESAF Small Finance Bank Gold Loan:
There are some conditions that the applicant should fulfill to get a gold loan. These are written below
- Age of the applicant should be more than 18 years and less than 75 years.
- Applicant should have gold in the form of coins/ jewelry/bricks. But the purity of the gold should be 18 carats to 22 Carat.
ESAF Small Finance Bank Gold Loan Interest Rate:
- Interest rate starts from 7.11% of the principal amount for general purpose.
- Bank will provide you up to Rs. 20 Lakhs Bank will accept gold in all forms with purity 18 karat to 22 karats. You have to return the amount of loan within 24 months.
Basically, the rate of interest depends on the reason for which loan is taken, i.e. for
- Agriculture purpose (10.20% – 12.20%)
- Personal Medical Purpose (12.45% – 14.20%)
- Business Purpose (12.45% – 14.20%)
ESAF Small Finance Bank Gold Loan Gold Loan Documentation:
- The whole process is straightforward and simple. Documents required in the very simple form. You instantly get a gold loan after issuing the documents. Identity proof (Passport/Id card/voter card/driving license) can be any one of them. Everyone easily has these documents, so there is no problem with the submission.
- Two passport size photos, a passport is needed because a passport has a name, age, address, and a photograph of the customer. If you have a passport, then there is no need to bring your address proof separately.
- Residence proof can be Aadhar card, voter card, and passport (Passport/Id card/voter card/driving license). Electricity and water bill for the last three months because these are the proofs that you are residing in that particular place.
- Aadhar card provided by UIDAI that contains biometric details of the customers like age date of birth and photograph of the individual.
- PAN card is the permanent account number that is provided to the customers, and it prevents the financial frauds. So it is also considered as an identity/residence proof. Pan card is an essential document under KYC (know your customer)
- Ration card also can be a residence proof because it provides enough information about the applicant.
About ESAF Small Finance Bank Gold Loan:
ESAF Small Finance Bank has formerly known ESAF Microfinance) is an Indian small finance bank providing banking services and small loans to the underbanked.
ESAF started its services as an NGO in 1992 as an Evangelical Social Action Forum. Before becoming a bank, ESAF was a non-banking finance company and microfinance institution (NBFC-MFI), licensed by the Reserve Bank of India (RBI) and headquartered in Thrissur city of Kerala.
How to Apply for Gold Loan?
First of all visit our site www.lendingwale.com.
Fill all the important details mentioned and wait, our Relationship Manager will contact you as soon as possible and help you get Gold Loan