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All you need to know: how to apply for a gold loan?

by Rokdabazaar .com Loan, Cards, Investments
apply for gold loan

Apply for gold loan: The Gold loan is more common in India because people have gold that sitting idle at home. The better way of using your gold jewelry is those provide gold to the bank and get money. Gold loan is a secured loan that means you put your gold as collateral, and once you pay the money, you will get back your gold. Apply for gold loan in easy steps with rokdabazaar. The gold loan has its benefits. For people who have gold jewelry, then they can get a gold loan very easily.

Five things to think before going for a gold loan:

1) Loan amount: The prices of gold keep on fluctuating. So, before going to the bank or NBFCs for a loan, then calculate the worth of your gold. Choose the plan that suits you better, and get a higher value of your gold.

2) Interest rate: One of the other factors to consider before applying is the rate of interest at which you are obtaining the loan. An interesting fact is that the rate of interest for a gold loan is comparatively lesser than a personal loan.

apply for gold loan

3) Short term: A Gold loan is not meant for the long term. The bank or NBFCs mainly gives 12 months durations to return the money. Make sure you can make it in the time limit and pay every ounce of money.

4) Credibility: Gold loans do not require any evidence or paperwork. Gold loans are fast to get. The bank feels safer in this case because they have your gold if you cannot pay back the money. Check the bank’s credibility before going to any bank because you are giving them your gold as security.

Apply for gold loan with Rokdabazaar with easy steps and we guarantee your gold to be safe and sound with our tied up banks.

5) Repayment schedule: Discuss everything before applying for a gold loan. Clear every doubt you have. The repaying schedule differs from every bank from each other. Look and compare every bank about the rate of interest and repayment timings. If you have any doubts, then clear it right away. So, it is better to understand the terms carefully.

If you need a gold loan, then follow these steps above for your safety. Make sure you go to the trustworthy person for a loan.

apply for gold loan

How can you get a gold loan?

1) Go online and choose the bank at the website of Rokdabazaar. We have the great banks tied up.

2) The bank then asks for few documents like photo, identify proof, and documents of the gold.

3) After seeing the worth of your gold, then the bank will decide the rate of interest and tenure.

4) After verifying everything then you will have the money on the same day.

You can apply for gold loan for so many reasons like medical emergencies, higher education, planning a wedding and vacation, renovation of a home, etc.

Our tie-up banks:

1) HDFC bank

a) The interest rate is fixed at 10.50% terms and conditions apply.

b) The processing fee is a one-time fee and is 1.50%.

c) The time of repayment of money is 24 months.

2) ICICI bank

a) The interest rate is fixed at 10.00% terms and conditions apply.

b) The processing fee is a one-time fee and is 1%.

c) The time of repayment of money is 12 months.

3) IIFL

a) The interest rate is fixed at 12% terms and conditions apply.

b) The processing fee is free.

c) The time of repayment of money is 11 months.

Apply for gold loan and you can compare each bank on the main site of Rokdabazaar.


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Created on Mar 6th 2020 00:47. Viewed 247 times.

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