A Complete Guide to Gold Loan

1. A Complete Guide to Gold Loan Gold loans are secured loans given by lenders on the mortgage of loans. Generally, a percentage of gold is given as a loan amount. It is important to know about the loan amount per gram of gold and other factors that will affect the credit amount. The borrower has to pay the loan amount in installments over the tenure of the loan. When you compare the different types of loans, you will realize that it is the best type of loan in case of an instant need for money like a wedding, medical emergency, education, etc.

2. Benefits of gold loan: • Minimal paperwork because your gold is kept as collateral. • No need to show income proof • The interest rate is lower as compared to personal loans. So, you can save a lot of money in easy gold loan. • A gold loan is a secured loan • Very less processing fees • Instantly processed after verification of documents • No need to show a credit score Documents Required for Gold Loan • Identity Proof: PAN card, Driving License, ID card Aadhar card, etc. • Address Proof: Water bill, Electricity bill, PAN card, Driving License, ID card Aadhar card, etc. • Passport size photos

3. How to Repay Gold Loan: • Interest and the principal amount are paid in equal monthly installments. • Pay the interest as EMI and the principal amount in full later • Divide the principal amount and interest according to the need of the borrower. Eligibility for Gold Loan: • The borrower must be a resident of India. • The minimum age of the borrower must be 18 years. • Possess the all required documents. • Visit the website of the lender. There are so many lender who provide gold loan in uttam nager, delhi. Compare the requirements of each according to your suitability, Conclusion • In case of unforeseen circumstances, a gold loan is the best option. You must pledge your gold but your gold remains safe. You must pay the amount on time to get the maximum benefits.