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Gold Loan Raigad
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GOLD LOAN FAQs
Loan Against Gold is very simple to understand as well as easy to avail. The Bank provides you with funds against your gold Jewelry. The amount depends upon the gold weight.
Yes, Loan Against Gold comes under the category of secured loan. Because the applicant has to put their gold jewellery into the bank’s locker as security or as collateral.
Only the basic KYC documents such as identity proof, address proof, signature proof and 2 photos of the applicant.
IMPORTANT TERMS & CONDITIONS
Interest Rate: Annual Percentage Rate Minimum 6.84% to Maximum 28%
Loan Tenure: Repayment Tenure Over 12 to 48 months
For example, if you take a loan of Rs. 4.5 lakhs at the rate of 15.5% with a repayment tenure of 3 years, your EMI will be Rs. 15,710. The total payable amount at the end of 3 years would be Rs. 5,65,553. Therefore, you are paying the total interest amount to the tune of Rs. 115,553. This, however, excludes other applicable charges which can be quantified as under:
- Loan Processing Charge @ 2% = Rs. 9,000
- Gold Valuation Charges: Rs. 260 per lac
- Stamp Duty: as per State Laws
- Amortization Schedule charges = Rs. 200
In case of a change of payment mode or swapping your Post Dated Cheques, additional charges are applicable. Also, depending upon the lender bank, prepayment options may or may not be available and the applicable charges may vary accordingly.
Dialabank.com Services are free of cost. We do not charge any fee from any of our customers.
Loans originated, booked and serviced by our partner Banks/NBFCs. Subject to credit appraisal in the sole discretion of our partner Banks/NBFCs and terms & conditions as agreed under an individual loan agreement.
Our Partner Banks and NBFCs don’t offer personal loans which require repayment in full in 60 days or less from the date the loan is issued. Subject to the necessary KYC and verification.
