Gold Loan Jammu Features:
Loan Amount | Up to Rs. 1 Crore (With Income Proof) |
Gold Loan Jammu Interest Rate | 7.0% per annum |
Gold Loan Jammu Per Gram | Rate Per Gram Today is ₹ 5,268 |
Processing Fee | 1.50% of the Principal Loan Amount |
Prepayment Charges | 2%+GST (Within 3 Months), 0 (After 3 months) |
Repayment Tenure | 3 Months to 24 Months |
Repayment Scheme | Bullet Payment Scheme, Overdraft Scheme |
What is Gold Loan Jammu?
You need some strong financial support if you are planning to renovate your house. Renovation process will incur a lot of cost. But don’t worry about funds arrangement. You can easily apply for gold loan. Gold loan is a multipurpose secured loan which comes with low interest rates. We will provide you with all the information that you may need for Gold Loan Jammu.
Eligibility Criteria for Gold Loan Jammu:
- There are some eligibility criteria that the applicant has to qualify to get a gold loan:
- First of all, the minimum age of the applicant should be 18 years.
- After that, the applicant should have Indian citizenship.
- Furthermore, to apply for a gold loan, you should have a minimum of 10 grams of gold.
- Gold should be between 18-22 carats.
Documentation for Gold Loan Jammu:
The process of documentation in a gold loan is very easy and simple. Certain documents that are required to get a gold loan are as follows:
- First of all, one proof of identity is required. Any one of the given proofs is accepted (AadhaarCard/Voters Card/Driving License/ Passport).
- After that, one proof of residence is also required to get a gold loan. It can be (AadhaarCard/PAN Card/Ration Card/ Electricity Bill of last three months with the name of the applicant/ Telephone Bill of last three months with the name of applicant / Passport Copy).
- In Addition to that, 2 passports sized coloured photographs are also required to get a gold loan.
- Proof of ownership of Land is required if you are applying for an agriculture gold loan.
Major Gold Loan Providers in Jammu:
Feature |
HDFC Bank | ICICI Bank | Muthoot Finance |
Interest Rate |
9.90% |
10.50% |
12% |
Min Loan Amt |
Metro : 25000, Non : 15000 |
25000 |
15000 |
Max Loan Amt | 1 Cr | 1 Cr |
1 Cr |
Loan Tenure |
3 months to 24 months | 9 months to 24 months | 1 month to 24 months |
Processing Fee | 0.25% to 1.50% of the Loan Amt | 0.25% to 1.50% |
Nil |
Preclosure Chgs |
2%, Nil foreclosure charges after 3 months | 2%, Nil foreclosure charges after 9 months | Nil |
Overdraft Facility | Yes | Yes |
Yes |
Pay Only Interest Facility |
Yes | Yes | Yes |
Gold Rate Per Gram | 2500 | 2600 |
2700* |
Interest Rates for Gold Loan Jammu:
- Firstly, the interest rate charged by the banks ranges from 10.5% to 15%.
- Processing fee charged by the bank is up to 2% of loan amount.
- Loan tenure can range from 6 months to 36 months.
Features of Gold Loan Jammu:
- First of all, the gold loan is very easy to apply.
- After that, gold Loan gets disbursed within 30 minutes.
- Furthermore, the interest rates on the gold loan are quite affordable and satisfactory.
- Besides that, in a gold loan, the documentation process is very easy and simple.
- Also, The gold loan requires no credit checks.
- Moreover, there is in house gold evaluation.
- Gold Loans are highly liquid, which help the customer in easy convertibility.
Processing & Prepayment Fee on Gold Loan Jammu:
Bank |
Processing Fee |
Prepayment Charges |
HDFC Bank Gold Loan |
0.25% to 1.50% | 2%, Nil foreclosure charges after 3 months |
Axis Bank Gold Loan |
0.50% to 1.50% |
Nil |
ICICI Bank Gold Loan | 0.25% to 1.50% |
2%, Nil foreclosure charges after 9 months |
SBI Gold Loan |
500/- to 0.50% | Nil |
Kotak Gold Loan | 1% to 2% |
2.25% of foreclosure amount if closed 1 month ahead of the tenure. |
IIFL Gold Loan |
Nil | Nil |
Muthoot Gold Loan | Nil |
Nil |
Manappauram Gold Loan |
Nil | Nil |
PNB Gold Loan | 0.70% to 1% |
Nil |
Canara Bank Gold Loan |
1% | Nil |
Andhra Bank Gold Loan | Nil |
Nil |
How to apply for Gold Loan?
- First of all the applicant needs to visit www.magicloans.in
- After that, the applicant fills the application with the required information.
- But the applicant should fill the contact number.
- At last, the applicant gets a call from our side if he/she is eligible.
Forms of Gold :
- Not every form of gold is considered by the bank to provide the Gold Loan. There are some restrictions.
- First of all, the purity of the gold should lie in between 18 Karats to 22 Karats.
- After that, gold in the form of jewellery is accepted.
- Besides that, raw is gold is not accepted.
- Furthermore, gold coins that weigh less than 50 Grams are easily accepted.
Why Magicloans?
- First of all, www.magicloans.in offers a very easy process of application of the gold loan.
- After that, the customer gets a good comparison of the interest rates of other banks as well.
- Finally, the company provides the document pickup facility from your doorstep.
About Jammu:
Jammu is the winter capital of state Jammu & Kashmir, India. The city lies on the banks of river Tawi. This city is also as the ” City Of Temples” for its ancient temples and Hindu shrines. Jammu is the most visited place in the state. For more information on Gold Loan, you can visit our official site.
Gold Loan Interest Rate of Major Banks
Bank |
Interest Rates |
7.10% – 14.50% |
|
7.10% – 16.10% | |
Muthoot Finance Gold Loan |
7.10% – 24.00% |
7.10% – 17.10% | |
Manappuram Gold Loan |
7.10% – 26.00% |
7.10% – 15.99% | |
Bank of India Gold Loan |
7.10% – 26.00% |
7.10% – 13.50% | |
IIFL Gold Loan |
7.10% – 12.00% |
7.10% – 14.65% | |
7.10% – 12.65% |
|
Allahabad Bank Gold Loan |
7.10% – 10.45% |
7.10% – 15.75% | |
PNB Gold Loan |
7.10% – 11.75% |
7.10% – 26% | |
SBI Gold Loan |
7.10% – 15.99% |
7.10% – 15.99% | |
UCO Bank Gold Loan |
7.10% – 26.00% |
7.10% – 13.50% | |
Syndicate Bank Gold Loan |
7.10% – 12.00% |