Gold Loan Kottayam

Gold Loan @ 7.10%

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Gold Loan Kottayam Features

Loan Amount Up to Rs. 1 Crore (With Income Proof)
Gold Loan Interest Rate 7.0% per annum
Gold Loan 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 Kottayam?

Are you in confusion that from where to get funds to boost your business? Boost your business with instant financial support just by applying for a Gold loan. Gold loan is a multipurpose secured loan which comes with low-interest rates.

Eligibility Criteria for Gold Loan Kottayam:

  1. There are some eligibility criteria that the applicant has to qualify to get a gold loan: 
  2. First of all the minimum age of the applicant should be 18 years.
  3. After that, the applicant should have Indian citizenship.
  4. Furthermore, to apply for a gold loan you should have a minimum of 10 grams of gold.
  5. Gold should be between 18-22 carats. 

Documentation for Gold Loan Kottayam:

  1. However, the process of documentation in a gold loan is very easy and simple but, still, there are certain documents that are required to get a gold loan.
  2. First of all one proof of identity is required. Any one of the given proofs is accepted (AadhaarCard/Voters Card/Driving License/ Passport)
  3. 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)
  4. In Addition to that 2 passports sized colored photographs are also required to get a gold loan.
  5. Proof of ownership of Land is required if you are applying for an agriculture gold loan.

Major Gold Loan Providers in Kottayam

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 Kottayam:

  1. The interest rate charged by the banks ranges from 10.5% to 15%.
  2. Processing fee charged by the bank is upto 2% of loan amount.
  3. Loan tenure can range from 6 months to 36 months.

Features of Gold Loan Kottayam:

  1. First of all the gold loan is very easy to apply.
  2. After that, gold Loan gets disbursed within 30 minutes.
  3. Furthermore, the interest rates on the gold loan are quite affordable and satisfactory.
  4. Besides that, in a gold loan, the documentation process is very easy and simple.
  5. Also, The gold loan requires no credit checks.
  6. There is in house gold evaluation.
  7. Gold Loans are highly liquid, which help the customer in easy convertibility.

Processing & Prepayment Fee on Gold Loan Kottayam

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?

  1. First of all the applicant needs to visit www.magicloans.in
  2. After that, the applicant fills the application with the required information.
  3. But the applicant should fill the contact number.
  4. At last, the applicant gets a call from our side if he/she is eligible.

Forms of Gold :

  1. Not every form of gold is considered by the bank to provide the Gold Loan. There are some restrictions.
  2. First of all the purity of the gold should lie in between 18 Karats to 22 Karats.
  3. After that, gold in the form of jewelry is accepted.
  4. Besides that raw is gold is not accepted.
  5. Furthermore, gold coins that weigh less than 50 Grams are easily accepted.

Why Magicloans?

  1. First of all, www.magicloans.in offers a very easy process of application of the gold loan.
  2. After that, the customer gets a good comparison of the interest rates of other banks as well.
  3. Finally, the company provides the document pickup facility from your doorstep.

About Kottayam:

Kottayam is a city located in distrit Kottayam of state Kerala, India. For more information on Gold Loan, you can visit our official website.