Gold Loan Banga Feature:
Loan Amount | Up to Rs. 1 Crore (With Income Proof) |
Gold Loan Banga Interest Rate | 7.250% per annum |
Gold Loan BangaPer Gram | Rate Per Gram Today is ₹ 5,219 |
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 |
Why wait ? when you can get a loan sanction in just 45 minutes. Attractive Interest rates and lower EMI. Apply now and get unmatchable offers and benefits.
What is Gold Loan?
The loan that is given against gold, is known as Gold Loan. This includes the gold ornaments of the borrower excluding the diamond articles and mangal sutra. The borrower keeps his gold ornaments as collateral with the lender and takes the money against those ornaments.. Many go for the fulfillment of their short term goal through gold loans, such as their child’s education, marriage or other family problems. Many think that instead of keeping it idle at home or in a locker, the gold loan is the best option.
Advantages of taking Gold loan:-
- Generally gold loan is available at the interest rate of 11.5% to 14.5%
- ROI for tenure less than 1 year is also available at 1%
- Processing fees equals to 2000
- Borrower will be given an option to pay only interest during the entire term and at the end of the tenure, you can pay complete borrowed amount in a single shot
Major Gold Loan Providers in Banga:
Feature Interest Rate 9.90% 10.50% 12% Min Loan Amt Metro : 25000, Non : 15000 25000 15000 1 Cr Loan Tenure Nil Preclosure Chgs Yes Pay Only Interest Facility 2700*
HDFC Bank
ICICI Bank
Muthoot Finance
Max Loan Amt
1 Cr
1 Cr
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%
2%, Nil foreclosure charges after 3 months
2%, Nil foreclosure charges after 9 months
Nil
Overdraft Facility
Yes
Yes
Yes
Yes
Yes
Gold Rate Per Gram
2500
2600
Check Your Eligibility:
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- Age: 21 years and above
- Profession: Anybody with Steady source of income including: Banks Employees, Pensioners
Documents:
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- Identity Proof (Passport Copy/ Voters ID card/ PAN Card/Aadhaar Card).
- Address proof(Passport/ Electricity Bill/Telephone bill/ Aadhaar Card).
- Signature proof ( Passport/ PAN Card/Bankers verification/ cheque).
- 2 passport size photographs
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Processing & Prepayment Fee on Gold Loan Banga:
Bank Prepayment Charges HDFC Bank Gold Loan Axis Bank Gold Loan 0.50% to 1.50% Nil 2%, Nil foreclosure charges after 9 months SBI Gold Loan 2.25% of foreclosure amount if closed 1 month ahead of the tenure. IIFL Gold Loan Nil Manappauram Gold Loan Nil Canara Bank Gold Loan Nil
Processing Fee
0.25% to 1.50%
2%, Nil foreclosure charges after 3 months
ICICI Bank Gold Loan
0.25% to 1.50%
500/- to 0.50%
Nil
Kotak Gold Loan
1% to 2%
Nil
Nil
Muthoot Gold Loan
Nil
Nil
Nil
PNB Gold Loan
0.70% to 1%
1%
Nil
Andhra Bank Gold Loan
Nil
Know about the terms and conditions:
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- Foreclosure Charges- charges that are to be paid when the loan is closed before the tenure is completed.
- foreclosure charges can be up to 1%.The minimum loan tenure is 6 Months.
- So foreclosure charges after 6 months are 0.
- Charges for late payment of loan Amount
- 2% p.a. as penal interest over and above the applicable rate of interest.
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