At the time of sudden emergency, when no one is going to help you, your gold jewellery can be your best friend in need.
Your bright kid has secured his place in a good college but the large amount of money has to be deposited as the college fee at once. Don't worry! Use your gold to pay the fee and return back in an easy way.
Want to expand your business but don't have enough money to increase daily capital expenses. Just use your gold to get the money from the bank that will multiply as your business with grow. It will be a great help to your business and you don't have to borrow the money from anyone else.
Everybody aware by the fact that the money always fall off because of the great expenses in the marriages. Marriage is once in a life time achievment and don't let its delight fade away. make your and your dear once's all dreams come true with Gold Loan.
|Bank||Interest Rate||Loan Amount||Action|
|ICICI Bank||10.00%||Rs.10,000 to Rs.15 lakh||Apply Now|
|Axis Bank||13.00%||Rs.25,001 to Rs.20 lakh||Apply Now|
|HDFC Bank||9.90%||Rs.10,000 onwards||Apply Now|
|Canara Bank||7.65%||Rs.10,000 to Rs.10 lakh||Apply Now|
|Muthoot Finance||11.99%||Rs.1,500 onwards||Apply Now|
|Bajaj FinServ||11% onwards||Up to Rs.20 lakh||Apply Now|
|State Bank of India||7.50%||Rs.20,000 to Rs.20 lakh||Apply Now|
|Kotak Mahindra Bank||10.50%||Rs.25,000 to Rs.25 lakh||Apply Now|
|IndusInd Bank||10.50%||Up to Rs.10 lakh||Apply Now|
|Manappuram Finance||12.00%||Up to Rs.1.5 crore||Apply Now|
To get your credit endorsed, a candidate needs to give essential KYC archives, which include:
Gold Loan is just one of those crucial loans individuals get against golden jewellery. The sum may be used for almost any expenditures. There is an ease of obtaining financing from gold in only 45 minutes.
Gold is a guaranteed loan since the banks supply the loan from golden security. Banks provide creditors for this loan by maintaining gold jewellery and coins, which can be returned into the loan debtor upon repayment of the loan amount that's due. A loan secured with golden decorations can be obtained for short to moderate term duration and is usually processed in minutes without the necessity of tedious paperwork. When you use for gold from BookMyMoney, you have the choice of leveraging the user-friendly golden loan EMI calculator to compute your monthly premiums instead of this loan.
From the ancient time people used to put their jewellery at the pawnbroker's shop to take some money as a debt and when they returned the money with some interest, they got their jewellery back. Now the scenerio has changed. Banks has replaced the pawnshops and lend money to the borrowers putting their gold in a neat and clean way. So, the Gold Loan is a loan in which borrower borrows the money by putting his gold as a collateral to the bank. When he returns the money with the interest, he gets his gold back.
The amount in Gold Loan depends upon the weight of the gold. Bank can lend you the amount upto the 75% of the gold value. The gold is kept safely in the vault of the bank and is returned to the borrower after successfully returning the money to the bank. Gold Loan is a short term loan and the maximum loan tanure may be upto 12 months. So make sure before taking the loan that you can pay the loan in the loan duration.
The Gold Loan is basically a personal loan except the thing that no any collateral is submitted in case of personal loan. Hence, the loan amount can be used for any perpose like business, education, property or marriage and bank will not track its expense.
BookMyMoney delivers the simple to utilize gold credit EMI mini-computer for people who wish to acquire cash from a bank, utilizing their self-claimed gold as a guarantee. Since Gold costs are rising, candidates get a decent incentive on their gold ornaments, an estimation of the adornments straightforwardly influences the measure of credit to be affirmed.
The online calculator highlighted on BookMyMoney can further assist you to discover the amount EMI you would need to pay for the acquired credit sum. With the utilization of this EMI number calculator, one can attempt different loan costs and residency stages and blends offered by various banks to get the best accessible choice.
To use the Gold Loan EMI Calculator at BookMyMoney, you would need to provide a few key details:
Upon submitting these three details, the EMI calculator would instantly calculate the monthly instalments (considering the ongoing gold prices) to be paid by the borrower. Similar information can be used in other EMI calculators as well such as home loan EMI calculator, personal loan EMI calculator, car loan EMI calculator, etc.
To calculate Gold Loan Equated Monthly Instalments (EMIs), the calculator can assist you in several ways:
To meet the prompt monetary prerequisites, gold credit is a favored selection of people for a few reasons. A portion of those reasons include:
Qualification: To apply for this advance with real banks in India, an individual should possess gold and ought to be over 18 years old. These are the two critical qualifying criteria that make a candidate qualified to get a gold credit.
Financing cost: Most banks and NBFCs in India offer loan fee at a shallow rate, which is generally 2-3% higher than the base rate. Intrigued borrowers can utilize gold rate premium number cruncher to discover the most recent loan fees offered by the central banks in India. Gold advance EMI calculator makes it simple to pick the most appropriate Gold advance plan offered by different banks. This is because you can utilize the device to compute the EMI for different gold advance loan costs.
Any Indian who is aged between 18 and 70 years and owns gold jewellery and coins (gold bars and gold coins more than 50 grams each are currently not accepted as collateral for a Gold Loan) can apply for a Gold Loan with minimum documentation.
The tenure of a Gold Loan can range from a few days to a few months. In rare cases, a Gold Loan may feature tenure of a few years. However, this would be at the discretion of the bank and the actual loan amount disbursed.
Once you put up the loan as collateral for a Gold Loan, the gold ornaments or coins are held by the bank or NBFC (non-banking financial company) in its secure vault till the loan amount with interest is repaid in full.
When you opt for a Gold Loan through BookMyMoney, you can quickly check the interest rates, processing fees, foreclosure/pre-payment charges on the Gold Loan offers provided by leading banks and NBFCs operating in India. This information is available free of charge to you and helps you zero in on Gold Loan offers that are most suitable for your situation.
The easy to use Gold Loan EMI calculator uses critical Gold Loan data such as loan principal, tenure and applicable interest rate to provide you with an approximation of your equated monthly instalments for a specific loan. This facility is provided to you free of charge and for the unlimited number of times for your benefit.
Gold Loan is a fastest loan and its disbursal can be as quick as some hours. Once approved, the borrower gets the money deposited automatically into his saving account by any electronic means or he may receive a cheque/draft equal to the loan amount.
The loan amount depends upon the gold quality and the gold weight. The gold bars and coins have the most purity of gold and hence lower weight could give you enough loan amount. Basically, the loan amount can be upto the 75% of the gold value.
|Maximum APR (Annual Percentage Rate)||10.50% - 22%.|
|Fee applicable for BookMyMoney||Rs 0.|
*Terms and conditions apply. Credit at sole discretion of lender subject to rates, credit appraisal, charges, eligibility check and terms. Information shown is indicative and collected from public sources. This is a free service and no charges are payable by the borrower to BookMyMoney. The Company may receive remuneration from lenders for services provided to them. BookMyMoney is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not supposed to be an offer or solicitation or invitation to borrow or lend. The Company does not undertake any responsibility with respect to the correctness of the content, information and calculations. Information is subject to change without prior notice. By submitting your query or using any tools or calculators, you authorize BookMyMoney to share your information with lender(s), consent for such lender(s) to access your credit information report.