Gold Loan is a simple concept, and in this type of loan, A customer pledges gold ornaments as collateral for taking the loan. This type of loan is useful if you need funds for an immediate expense. And the customer also able to pay it back in the short spam. It is cheaper as compared to the other loans. The banker uses the gold as a security against the defaulters. The loan that is against gold is of a specific percentage of the value of the gold. The gold has been pledged, and the loan is sanctioned by analysing the basic documents. The amount is then given to the customer. These are short-term loans as well as the repayment period can vary from one month to a few years. And, for getting the quick disbursal of loan amount apply for Gold Loan Valsad and get the immediate cash in hand.
Why should one choose Gold Loan Valsad?
First of all, the processing time of the gold loan is fast.
After that, you don’t worry about your CIBIL.
Furthermore, your gold ornaments are used as security.
Lastly, the interest rate of the gold loan is affordable.
Interest Rates Gold Loan Valsad
- Generally, the gold loan is available at the interest rate of 10.75% p.a to 24% p.a.
- ROI for tenure less than one year is also available at 1%
- The borrower will be given an option to pay only interest during the entire term, and at the end of the tenure, you can pay the complete borrowed amount in a single shot
To know more about Gold Loan Interest rate.
Eligibility Criteria for Gold Loan Valsad
- Anyone can apply regular income group, professionals, salaried, businesspersons, homemakers etc.
- The applicant must be the age of at least 18 years.
- No minimum income required
- Gold ornaments of 18 carats and above
NOTE: Only gold (no diamonds or other materials) in the jewellery will be considered for the loan amount.
Documents Required for Gold Loan Valsad
However, the process of gold loan is very quick and simple, but, still, certain necessary documents are required to get a gold loan. Which are listed as:
- Identity Proof: first of all, one identity proof is needed it can be any one of the given proofs (Aadhaar card, Driving license, Passport, Voters card,)
- Residential Proof: After that, one proof of residence is required. It can be an Aadhaar card, PAN card, Ration card etc.
- Electricity Bill of the previous three months on the borrower’s name.
- Telephone Bill of the previous three months with the name of the applicant on it.
- Passport Copy of the applicant is also required.
- In Addition to that, two passports sized coloured photographs are also required.
- Ownership proof of Land is required if you are applying for an agriculture gold loan.
Features of Gold Loan Valsad
- Low Rate of Interest
- Negligible foreclosure charges
- Safety of Ornaments
- Not necessary to have a good credit score
- Income proof is not required
- No loan processing charges
- Flexibility of tenure
Gold Loan Valsad Procedure
First of all, the applicant should visit the lendingwale website.
After that, the form will open up.
Then, fill up the required necessary details.
And, the applicant should fill the contact details also.
Lastly, the applicant gets a call from our side if he/she is eligible.
Forms of Gold
Not every type of gold is considered to provide the Gold Loan. There are some restrictions on that:
First of all, the purity of the gold should be in between 18 to 22 Karats.
After that, the gold in the form of jewellery is acceptable.
Besides that, raw gold is not accepted.
Furthermore, gold coins that weigh less than 50 grams are accepted.
Why is LendingWale the right option to get a Gold Loan?
First of all, lendingwale offers an online application for a gold loan.
After that, the customer can easily compare the interest rates of other banks or financial institutions as well.
Furthermore, we provide you with the document pickup facility from your doorstep.
Finally, you get the best offers and schemes from us.
Valsad is also known as Bulsar; It is the district of Gujarat state, India. It is the time-saving and a smooth process of taking Gold Loan only when you apply through lendingwale.