If you looking for a Gold Loan in Pune the best loans against gold at an affordable repayment price, then you just really need to scroll down and read through it. Gold loans have always been cheaper than the normal personal loans and could really help one in his tough times. But finding safe hands where you can hand over your precious gold has never been an easy task. While you don’t want your time and money to go in vain, we, here at Pune offers you a variety of options to avail the lowest interest rates gold loans and also let your money go in good hands.
If you are facing financial instability or want to meet your expenses or require money to repay for other loans and have some gold to lend, then loan against gold might be the best option available to you. Since it involves gold as collateral, there is not much documentation required and could be easily availed. Gold loan in pune is hassle-free. Loan against gold is the fastest and cheapest way out of all the loans. Gold loan offers an instant cash facility and also doesn’t check the history of the borrower.
When you pledge your gold jewelry/ornaments as collateral in exchange for a loan amount as in real cash, it becomes a gold loan. Their interest rates are usually lower than that of normal loans because they fall under the category of secured loans. They are easy, fast, reliable and don’t involve much of the paperwork. You come with gold in your hand and return with real cash and 100% satisfaction. However, the loan amount depends upon the weight of the gold you want to lend. A minimum of 30gm of gold should be with you to avail of the gold loan.
Lower interest rate: Since they are categorized under secured loans, they have a relatively lower interest rate than those on personal loans. When your gold is put as collateral, there is a lower risk of losing money for the banks/lenders as the security with them is now gold. In gold loan, you are charged at different interest rates depending on your loan amount. If your loan amount is 50- 60% of the total calculated value of the gold, then your interest will likely be lower than the rate when your demanding value is comparatively high.
No hassle, Quick process: Gold loans in India are one of the fastest availed loans which don’t involve any troublesome process. Some banks/lenders only take a few hours to verify, check and complete the required process and cash is handed to the individual immediately.
Doesn’t check borrower’s history: If you have gold with you and any of the government identification proof which includes driving license, Passport, Voter’s ID or Ration card, then you are eligible to avail a gold loan. It’s just that simple. It doesn’t matter whether you have a good credit score or you are employed or not, you can easily avail the gold loan facility. However, for higher loan amounts that carry more than half the value of the gold, some lenders might ask for a salary certificate.
As already mentioned, finding a good gold loan platform is really hard. You don’t want to get involved in those annoying and time-consuming work and really don’t want to end up getting scammed. Then here we are to your aid. We have listed some of the important things to be kept in mind while searching for a good gold loan in Pune.
1. Nature of lender: At times, you might be surrounded by frauds who not only charge higher interest rates from you but also pay less amount of the total gold value at the market price. They just want to maximize their own profits and work for individual interests. They can even catch you in false schemes and leave you in between at a loss. One should be careful while searching for these lenders and its better that you go for the private banks instead of the local lenders.
2. Quality and purity of gold: It has been seen that 18k gold or higher is only accepted by the lenders. You should be informed of the initial price of your gold in the market at the time you are lending it so that you get what you deserve.
Once you fulfill the gold loan eligibility, get your things
ready- Gold you want to lend, necessary documents which include any proof of identification; two passport size photographs; address proof and the most important that is yourself. Walk into the nearest lenders/bank providing gold loan where you intend to apply for the same. You will be asked to fill out an application form and in the time being your gold will be evaluated by bank’s representatives. Within a few hours, you will be handed over the loan amount.
However, some banks/lenders also provide door-to-door gold loan facility wherein you apply for a gold loan online and following it, the bank’s representative shall visit you and there will be a proper on-door verification of the gold and you are handed over the cash immediately.
Once you make sure that you are eligible to apply for a gold loan, the documents you will require include:
Once you have all of these above-mentioned documents you can visit your nearest bank or any financial the institution where you prefer to take a loan.
The only thing that matters is your age. Any person of age above 21 is termed as eligible to apply for a gold loan. Apart from it, you should also have a valid Identification proof along with address proof and two passport size photograph of the borrower. It doesn’t ask for your profession, be it a salaried individual or a housewife. However, you should have enough gold to pledge for.
Gold loans are way more convenient than personal loans which involve strict verification and hectic paperwork. Following points will make it true why gold loans are advantageous for immediate cash urgency than personal loans:
The best part about gold loans is that they are fast. Their approval is just of few hours and in some cases even a few minutes.
Lower rate of interest than that on personal loans. Since gold loans come under the category of secured loans, they have relatively lower rates of interest.
Unlikely in personal loans, not much documentation is required in them. You should be eligible to avail of the loan and should also have the valid Id proofs and once your gold is verified who has your cash.
Even individuals with a bad credit score can avail of the loan. In gold loan, the borrower’s history is not checked and it also doesn’t consider your profession.
The tenure in the gold loan is up to 5 years and that solely depends upon the lenders.
The gold loan makes it easier for you to meet your urgent cash needs. In the times of financial crunch when you are very much in need of money, the Gold loan is the brightest option. It is a fast, affordable and lowest interest rates loan
Take your Gold to the nearest bank providing the gold loans where you want to apply for the same. You will be requiring some necessary documents with you. After proper verification and documents filling, your cash is given to you.
Internet rates on Gold loans are comparatively lower than personal loans. Interest rates on Gold loans can be as minimum as 8% and different interest rates for different banks.
The gold loan process is a quick one. After you walk into a bank asking for a loan, you will be asked to fill a quick form. Meanwhile, your gold will be evaluated by the bank’s representatives. And once all the paperwork is completed, you will be handed over the loan amount.
If you are looking for a Gold loan company which provides you with best interest rates with a free valuation, fast approval and even lesser documents requirements, then Sai Gold in Pune is the best.
There are two methods to apply for a gold loan in Pune: - You can walk into your nearest branch with gold and necessary documents with you. You should also be eligible to avail of this facility. After you fill a quick form and get your gold checked and approved, you are handed over your cash. - Another method is applying online. You can even apply online for your gold loan. Following it, the bank’s representative will visit you at your doorstep