Gold Loan Doda

Gold Loan Doda

Gold is one of the precious metals for Indians as Its value in our lives cannot be ignored because every person is attached to it emotionally. However, what is the point of keeping your gold in lockers when it cannot help you in times of emergency? Thus, Taking a Gold Loan can help you to overcome financial needs. Also, it is the best way to get cash easily or in a short span.

What is Gold Loan?

Gold Loan is a secured loan in which a customer pledges his/her gold ornaments as collateral with a company. The company, in return, gives a loan amount as per the market value of gold to the customer.

What is Gold Loan Doda Interest Rate?

The below table shows the Gold loan interest rates provided by various banks

Why should one apply for a Gold Loan Doda?

1. Great Availability: First and foremost, Loan against gold is a secured service. Therefore the processing of this Loan is quick as the bank is mostly concerned with the quality and weight of the gold.
2. Low Rate of Interest: In contrast to services like personal loans, the gold loan has the least interest rate as banks keep security against the Loan.
3. Negligible foreclosure charges: Generally, banks do not have any prepayment charges, but some banks can charge a penalty of just 1%.
4. Safety of Ornaments: The ornaments are more secure with the banks due to the strict security In the banking institutions, which is quite less at homes.
5. No qualification of Credit Score: As this is a secured loan, therefore, the applicant does not have to worry about bad loan repayment history.
6. Income-proof not required: The salary of an applicant is not an issue for availing of a gold loan as it depends majorly on the weight and quality of gold available with the applicant.
7. No loan processing charges: Another advantage is that the applicant does not have to pay extra for this service as the approval solely depends upon the asset kept as security.
8. Flexible tenure: In addition to other advantages,  the applicant can choose the tenure of the Loan according to their requirements and needs.
9. Only payment of interest: Lastly, the applicant has the option to pay the principal amount at the end of the tenure and only the interest every month.

Know More: Gold Loan Features and Benefits

Eligibility Criteria for Gold Loan Doda

1. Anyone can apply regular income groups, professionals, salaried, businesspersons, homemakers etc.
2. The applicant must be the age of at least 18 years.
3. No minimum income required
4. Gold ornaments of 18 carats and above

NOTE: Only gold (no diamonds or other materials) in the jewellery will be considered for the loan amount.

Documents Required for Gold Loan Doda

1. Identity Proof: Aadhar Card/Pan Card/ Passport/ Voter ID
2. Residence Proof: Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card.
3. Agriculture Proof: Agriculture Land Proof.
4. Photographs: Two passport size coloured photos.

Who all can apply for Gold Loan Doda?

1. First and foremost, the gold should be in the name of the applicant or family member.
2. Secondly, the applicant should be a resident of India.
3. Thirdly, The age should lie in between 18 years to 70 years(at the time of loan maturity).
4. Next, the bank is not concerned about the employment status of the applicant. Thus salaried, self-employed, housewives, students anyone can apply for a Gold Loan per gram.

Benefits of Gold Loan Doda

1. Faster processing
2. Option to pay interest only
3. Lower interest rate
4. No processing fees
5. Low or no foreclosure charges
6. No-income proof required
7. Bad credit history not an issue
8. Safety of gold

Know More – Gold Loan Per Gram

How to apply Gold Loan Doda?

1. The applicant just has to pledge gold jewellery to the lender in return for the loan amount. After you take your jewellery to the bank, the in-house jewellers access your gold jewellery in terms of purity and weight.
2. Then, according to the value of gold, the lenders give the loan seekers cash equivalent to around 70%-75% of the value of their gold.
3. Now the lender has the possession of your gold ornaments until the full repayment of the loan amount.
4. Finally, when you repay the whole amount of the loan, the bank returns the gold in the same shape to the customer.

This is the entire process of the service of Jewel Loan which is known available online you can apply on the Dialabank Website. It is a very hassle-free and easy to apply as there is less documentation required.

About Doda

Doda is in the Indian state, Jammu and Kashmir. For further information please contact +91 9878981166.

Other Places To Avail Gold Loan