Kotak Mahindra Bank Gold Loan Key Features – Apply Now!
|Kotak Mahindra Bank Gold Loan Interest Rate||7.11% per annum|
|Kotak Mahindra Bank Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,032
|Kotak Mahindra Bank Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Kotak Mahindra Bank Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Kotak Mahindra Bank Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Kotak Mahindra Bank Gold Loan Repayment Tenure||3 Months to 24 Months|
|Kotak Mahindra Bank Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
About Kotak Mahindra Bank Gold Loan
Kotak Mahindra Bank is a private sector bank of India. It is a 2nd private bank in the public sector in India. It serves so many financial products to people like banking, home loan, personal loan, gold loan, credit cards, etc. Gold loan is one of the best financial product given by the bank. Gold loan is easily accessible with less documentation and without waiting for a long time. There are no security and trust issues too because the bank is well reputed and takes care of all the assets of the customer.
Why Gold Loan?
Gold Loan is useful in many essences, but most important is that your gold will be at the safest place. The bank takes full guaranty of your gold. Even if you want to put your gold in bank lockers safely and securely, then you have to pay to the bank for it, but the bank provides you locker only not security. So it’s better to get a Kotak Mahindra Bank Gold Loan, you will get money and security at the same time. Bank will be responsible for any miss happening. 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 decidedly less paperwork is required to complete these formalities.
Another reason to go for a gold loan is that sometimes customers are not eligible to get other loans like a personal loan or a home loan or any business loan, because of their bad credit history or any other reasons. So gold loan doesn’t require that much of formalities. You can easily get a Kotak Mahindra Bank of India Gold Loan if you have gold.
Advantages of Kotak Mahindra Bank Gold Loan
Kotak Mahindra Bank provides the gold loan to the customers. Though Kotak Mahindra Bank is a very reliable and trustworthy financial organization in India, it is not only Kotak Mahindra Bank that provides gold loan there are so many other banks that are prone to give this facility then why one should go for Kotak Mahindra Bank only.
Bank has a good reputation among people. Gold loan interest rates in Kotak Mahindra Bank are meager. Bank takes care of all the needs of the customers. Time for the disbursal is minimal. Very less documentation is required to apply for the loan. There is no need for the guarantor to get a gold loan from Kotak Mahindra Bank. Because the amount of the rate also depends on the purity of the gold. Specialist jewelers will assess your gold ornaments.
- Interest rates offered by the bank to the customers are comparatively very low. It starts at 10.5% and can be up to 17%.
- It can be varied a little bit up and down.
- The amount of loan – 10000 to 10 lakh.
- Time to return gold loan is 12 months for Ornament Scheme Gold Loan, and it is 30 months for Term Loan Gold Loan.
- Processing fees are 2% of the loan amount. Prepayment charges are 2% to 4%.
There are some conditions that the applicant should fulfill to get a gold loan.
- Age of the applicant should be more than 18 years.
- Applicant should have gold in the form of coins/ jewelry/bricks. But the purity of the gold should be 18 karats to 22 karats.
For Kotak Mahindra Bank customer
Original identity proof. It can be any of (Aadhar card, Pan Card, Voter ID card, Driving Licence, Passport )
For non-Kotak customer
The process of documentation is straightforward and simple.
- 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.
- Three passport size photos
- A passport can also be an ID proof because a passport has a name, age, address, and photograph of the customer. If you have a passport, then there is no need to bring your address proof separately. But the passport should not be expired.
- 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, 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) formality.
- Ration card is also considered as a residence proof because it provides enough information about the applicant.
- A signature proof is also required to get Kotak Mahindra bank gold loan.
How to apply on lendingwale.com
Steps to apply
- Search for lendingwale.com on google.
- A form will open up.
- Fill it with the required information.
- Our Relationship Manager will assist you as soon as possible and help you get your Gold Loan.