How to get Gold Loan?
To apply online, you have to visit the official website of the bank.
After that click on the option of Gold Loan.
All the information related to gold loan will come in front of you.
To apply, you have to click on the option of Apply Now.
The loan application form will open in front of you.
Enter the requested information in it and click on submit.
After this the bank employees will contact you and the loan process will be issued further.
To apply offline, you have to first take your gold and go to your nearest lender’s branch.
The lender will evaluate your gold and calculate the loan amount to you based on the market value of that gold.
You have to submit your required documents and fill the form.
If your loan is approved then the loan amount will be transferred to your bank account.
Gold Loan Eligibility
Only those people can apply for Gold Loan who are eligible for it. The eligibility may be different in different banks and financial institutions. Before applying for a Gold Loan, you should be aware of its full eligibility so that you do not have to face any kind of trouble in the future. Some of the general eligibility are as follows:
Any person who is in urgent need of money can apply for this loan.
You must be at least 18 years of age at the time of applying.
You must have gold or gold jewelery to pledge.
The gold you pledge should be of 18 karat or more fineness.
If the fineness of your gold is 25 carats, then you can get a loan up to a higher loan amount.
Gold Loan Documents required
Before applying for a gold loan, you must have all the necessary documents so that whenever the bank asks you for documents, you can immediately show them all the documents. Documents for loan can be different in different banks and financial institutions. Some common documents are as follows:
- filled application form
- proof of identification
- address proof
- passport size photo
- Form 60
- pan card
- Aadhar card
- age proof
- Income proof if required.
- signature proof
- Other Documents
Gold Loan EMI Calculator
Before applying for a gold loan, you should calculate the EMI of your loan so that you can get an idea of how much you will have to pay at the time of repayment of the loan. You can calculate the EMI of your loan with the help of EMI Calculator by visiting the official website of the lender whose gold loan you are applying for.
The EMI of the loan mainly depends on the loan amount, interest rate and loan tenure. All these three factors affect your loan. You should apply for only as much loan as you can repay on time.
