The gold has been pledged and the loan is sanctioned after analysis of basic documents. The amount is then given to the customer in the form of cash, account transfer or demand draft. These are short-term loans as well as the repayment period can vary from one month to a few years. Gold Loan Kishtwar is available online.
Interest rates of Gold Loan in Kishtwar
The interest rate mainly starts from 9% to 16 %, but every bank offering different interest rates for gold loans. And talking about the processing fee, it starts from 0 to 0.5% of its principal value. The gold loan is available at a low rate of interest. The interest rates of gold loan are less as compared to a personal loan.
The interest rates keep on changing from person to person and time to time. The minimum price of interest applicant can expect on gold loans is 10.70 %. If the applicant calculates, then the monthly interest rate will come less than 1%.
Eligibility of Gold Loan in Kishtwar
For this loan, all the banks have the same criteria. Furthermore, there can be a little bit of variation.
First of all, applicant to be a citizen of India.
After that, Age of the applicant should be more than 18 years and less than 65 years.
Furthermore, she/he should have the gold of purity 18 to 24 carat.
At last, the applicant should have gold more than 10 grams.
Features of Gold Loan in Kishtwar
Firstly, there are fewer nuisances for documentation.
Loan disbursal time is very less.
After that, security is very compact.
There is proper transparency between the customer and the bank.
Besides that, the interest rate of the gold loan is less as compared to other loans.
Furthermore, less paperwork is required in case of a gold loan.
Why should one choose Gold Loan in Kishtwar?
The applicant applies for a gold loan for a small period generally from 6 to 12 months.
Gold loan is the best option for all of the unfortunate credit individuals.
The gold loan is available at low interest rates.
You need to pay the interest rate and no EMI.
Although gold loan requires very less paperwork. Most worthy there are few that applicants need to have
Two photographs of the applicant.
Proof of his identity: verification documents especially require one among the following (passport/ID card/ Voter card/ Aadhaar card/ration card /driving license any one of them any glasses)
Evidence of his residence: (passport/ID card/ Voter card/ Aadhaar card/ration card/driving license) and if the borrower is living in rental apartments, then the applicant has to submit his agreement, electricity bill on his name and address of the owner.
The financial institution requires the bill for the last three months is to provide a gold loan to the applicant.
In addition to that, Proof of ownership of Land is required if you are applying for an agriculture gold loan.
Lendingwale.com is the best platform to apply for a Gold Loan in Kishtwar
You can get all access to so many quires simultaneously on www.lendingwale.com.
The applicant does not need to go to different sites to apply for the gold loan by www.lendingwale.com, there is no need to go in banks.
Your documents will be picked up by you. There can be a little more negotiation in interest rates.
Is gold loan Secured?
Gold loan is a secured loan. Because in a gold loan, the borrower gold jewelry into the bank’s locker as collateral. The applicant has to repay the loan; otherwise, the bank is liable to sell the gold ornaments of the borrower.
Forms of Gold
Not every type of gold is considered by the financial institutions to provide the Gold Loan to customers. There are some restrictions imposed by banks.
First of all, the purity of the gold should lie in between 18 Karats to 22 Karats.
After that, gold in the form of jewelry or coins is accepted by the banks to provide a gold loan.
Furthermore, gold coins that weigh less than 50 Grams are readily accepted.
Gold Loan in Kishtwar Procedure
Firstly, the applicant needs to visit www.lendingwale.com.
The borrower fills the application with detailed information to get a gold loan.
Besides that, the applicant has to fill the contact number.
At last, the borrowers get a call from the bank if the applicant is eligible for gold loan.
Kishtwar is a municipality in the Kishtwar District of the Jammu region in the Indian state of Jammu and Kashmir.