How to get Gold loan? | Gold loan process | Gold loan safe?

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Gold loan process: Many of us would have seen TV advertisement about Gold loan. It is very easy process and rate of interest depends on True value of the Gold per gram. Rate of interest will be less for lesser valuation of the Gold per gram. If you wish to procure higher loan amount you will end up paying as high as 21% PA which other wise will be 12% PA.
Loan can be availed up to crore!!!
Benefits and documents needed for procuring Gold loan:
  • Loan availed in 5 minutes.
  • When disbursing Gold Loan, you need to have any ONE of your recent ID: Voter ID, Ration Card, Driving License or Passport.
  • No other documents are required from you that can be time consuming.
  • Pay interest only for the number of days your pledge is maintained with the provider.
  • Various schemes for your needs and to suit all income groups.
  • No other hidden charges.
  • No end use restriction.
  • No up-front fees.
  • No application fees.
My view is it may also lead to Gold being pledged which may be a stolen as well. We need to have some regulation to prove the ownership of the Gold at the time of pledge or else in future it will be a big risk to many associated with it.
 
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2 Comments

  1. Santosh Kapila on

    Excellent information about gold loan. Gold Loan is the best solution to all financial problems. One can sanction ornament finance to acquire the loan at reasonable interest rate.

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