Gold Loan

1
Gold Loan
2
Introduction to Gold Loan

• It is evident from the name that a gold loan is
  offered against gold.
• They are offered by a number of banks and
  financial institutions.
• The rates of interest offered on these loans are
  comparatively low.
• It is extremely convenient to apply for gold
• loans and the entire process can be done
• in quick time.

3
Benefits of Gold Loans

• No certification of income required
• Credit score is not considered
• Few documents
• Low rates of interest
• Easy process
• Convenient application process
• Quick procedure

4
Gold Loan V/S Other Loans

• Gold Loans are secured as the gold is deposited
  in the bank in exchange for funds.
• The tenure of these loans is generally short,
  unlike personal loans, which can be for a longer
  period of time.
• The amount of the loan is directly dependant on
  the value of gold deposited and does not consider
  the persons capacity to repay the same.
• The rate of interest ranges from 12-16 while
  personal loans range from 15-26.

5
Gold Loan Eligibility Criteria

• The following are the documents that are required
  in order to apply for a loan
• Identity proof like a drivers licence or passport
  
• Address proof in the form of ration card,
• electricity bill, telephone bill etc.
• Signature proof
• i.e. copy of licence or passport
• 2 passport size photographs

6
Gold Loan Interest Rate

• The interest rates offered on gold loans are
  extremely affordable.
• This is one of the major reasons why people chose
  these loans.
• Depending on the bank or financial institution
  selected, the rates of interest can range from
  12-16.
• If a regular loan was taken for the same purpose,
  the rates could be as high as 26 per annum.

7
Gold Loan Provider in India

• SBI Gold loan
• Magma Gold loan
• Union Gold Loan
• Mannapuram Finance Gold loan
• Muthoot Finance Gold Loan
• Click here for instant gold loan

8
(No Transcript)