How To Apply A Gold Loan In Delhi NCR
Now you are going to see about ‘How to apply a gold loan in Delhi NCR?’ Loan is needed at one time or the other in your life. The loan may be for anything. It may be for your daughter’s marriage, children’s education, buying a vehicle or buying a property. When the loan amount is comparatively lesser it is wise to go for gold loan. Gold loan as self explanatory refers to the loan given against your pledged gold. They are very advantageous over the other methods of applying loan.
Advantages Of Choosing Gold Loan:
The gold loan provider company Delhi NCR has can help you borrow money with your gold. They have lots of advantages such as
- Minimal paper work
- Even unemployed and non-working people can apply gold loan
- To apply for a gold loan you just need your gold and nothing else.
- You can get 80% value of gold’s market value as loan.
- The process in very quick. The banks may take some few hours. The non-banking financial companies offer quick loan online same day in Delhi NCR. It may take only few minutes. It is best suited for urgencies.
- It is easy to apply for personal loan in Delhi but the personal loans have higher interest rates like 15-26% per annum but for gold loan it is very low like 12-16% per annum.
How To Apply A Gold Loan In Delhi NCR?
Being in the capital city you won’t be having difficulty finding the right financing company for gold loan. But you have to be careful while going to non-banking finance companies. Prefer the companies that are in business for years.
- First depending on the need calculate the amount you need and the amount of gold you can pledge.
- Then shortlist the business loan provider Delhi NCR has, that will fulfill your needs it your seeking for business purpose.
- Ask them clearly about the interest rates
- Ask for the repayment schedules of the loan.
- Know about the extra charges for the loan. The applicable charges are usually as follows
- Loan processing charge
- Valuation charges (Optional)
- Late payment charges
Gold loans are preferred nowadays than the Personal loan facility in Delhi NCR
Documents Required For Gold Loan:
The following documents are generally needed while applying for gold loan.
- Any one proof such as passport, voter ID or driving license as identity proof
- Electricity bill, ration card, telephone bill, etc as address proof
- You need a document like passport, driving license or any other document with your signature as your signature proof.
- 2 nos of your recent passport size photographs
It is always wise to make sure you are confident of returning the loan amount while going for gold loan. Otherwise you will lose all your jewels. But this may be the best option to go and even the intellectual way to get money for your needs. Now you have known the steps involved in applying a gold loan and the required documents. So it will be easier for you while applying the gold loan in Delhi NCR.