Gold Loan
A gold loan, also known as a jewel loan, is a secured loan that uses gold jewelry as collateral
Here are some details on gold loans
- Interest Rate: 9% to 18% per annum
- Processing Fees: Up to 2% of the loan amount
- Tenure: 6 months to 42 months
- Minimum Loan Amount: ₹1,500 to ₹50,000
- Maximum Loan Amount: ₹1 crore to ₹5 crores
- Repayment: Easy EMIs or repayment of interest and principal after a specified tenure
- Charges: Service charges, security charges, token charges, SMS charges, notice charges, and safe custody charges may apply
- Maximum Loan Amount: ₹1 crore to ₹5 crores
Documents Required:
- Passport-size photographs
- ID proof (driver's license, passport copy, voter ID card, Aadhaar card, ration card)
- Address proof (driver's license, voter ID card, Aadhaar card, passport copy, registered lease agreement)
- Proof of landholding (for agricultural loans over ₹1 lakh)