MAKE YOUR LIFE HURDLES FREE WITH GOLD LOAN

A gold loan is a secured loan. It is a loan against gold. In this type of loan, the lending bank takes the gold jewellery as collateral for a while. But the bank also put the charge on an interest rate. Once you return the amount, the bank returns you the jewellery. The interest rate can range from 7.5% to 29% per annum. In the present scenario, where there is any problem related to cash, this gold loan demand gets increased. If you deduct the principal amount from the total amount to be paid then you can calculate the interest. And for getting this loan you need two documents to identify proof and address proof. Identify proof could be your Aadhar card, pan card, your driving license, passport, or voter id. Noida is one of the famous cities in Uttar Pradesh. Many big banks are there which can provide you a gold loan. And interest rates are very low. So, for many people, this gold loan in Noida can be proved a boon.

Over the years this gold loan market has seen a rise. Due to this, there is a rapid increase in the number of companies that offer you a gold loan. And even we can find many gold loan companies in Noida also. Here, tenure is of short term. The amount of the loan depends on the purity of the gold. Different schemes are available. The processing fees and the pre-payment fees, both are low. In a few banks, it is zero.

Major gold loan provider and variations in interest rates in Noida

There are many banks that provide loans like SBI, Muthoot, HDFC, Yes, ICICI, Federal, Canara, Andhra, Axis, PNB. Their interest rate varies. But all of them have between 7.5% to 15%. Their processing fee and maximum tenure period also vary. In Andra bank and in Federal bank there are no processing fees. In the entire process, there is no CIBIL score condition.   The gold loan rate is 9.9%. The processing fee is up to 2% of the loan amount. The loan tenure is from I day to 36 months. Gold loan per gram is from Rs 3,100 to Rs 3,789. It depends upon the purity of the gold. Repayment options are EMI, bullet repayment scheme, and an overdraft.

Eligibility criteria and its benefits

For getting a gold loan in Noida there are few criteria that you need to fulfilled like the age of the borrower must be above 18 years. They should have the citizenship of India. There are many situations when you can use the gold loan like- if you need for funding your children’s education if there is any medical emergency if you want to grow your business, do some kind of agricultural ways, etc. To helping you out in all tough situations  many gold loan companies in Noida are there. Even the lender does not need any income proof certificate.

As it is secured in nature, so with very little documentation, the loan processing, and disbursement is made quicker. So, make your life easier with this.