Pallavan Grama Bank Gold Loan Documents Required

Features of Pallavan Grama Bank Gold Loan

Those who are in quick need of money and have assets in form of Gold with them can avail themselves of the safe yet quick opportunity of acquiring a Gold Loan. One can acquire this opportunity through Pallavan Grama Bank, by making use of its facility of easy, quick, and secure gold loans.

Attractive features of Pallavan Grama Bank Gold Loan:-

• Quick processing:- The processing of the Gold loan take place in mere hours, as soon as the borrower lends the bank with gold, within hours he is provided with the required amount.
• Minimum Foreclosure Charges:- Many banks do not charge minimal prepayment charges on gold loans.
• No Fees for processing Loan:- No processing fee is required for sanctioning a Gold Loan, as they are processed on basis of on-spot collateral.
• No requirement for income Proof:- Due to the loan being secured against the borrower’s gold, there is no requirement for income proof.

Pallavan Grama Bank Gold Loan Comparision with banks

Pallavan Grama Bank Gold Loan EMI calculator

To get an exact amount for your EMI payment, without any hassle, you can choose to use Gold Loan EMI Calculator. This Gold Loan EMI Calculator can help you better manage your monthly payments. With the specific rate of interest and time duration, you can acquire an amount to be paid towards your monthly EMI.

Factors influencing EMI include:-

Loan Amount:- Bigger the principal amount, the Bigger will be the EMI.

Interest Rate:- Bigger the rate of interest, the Bigger will be the EMI.

Loan Duration:- Bigger the time duration of re-payment, the Smaller will be the EMI.

Pallavan Grama Bank Gold Loan Documents Required

At the time of application the following documents are required:

• Proof of the citizenship of India
• Duly filled application form
• 2 passport-sized photographs
• Applicant’s KYC documents to establish Identity and Address
• Salary/ Income Proof
• Witness Letter in case of illiterate borrowers
• In the case of Agriculture Loan of more than Rs. 1 lac, land proof
• Certificate by the Jewel Appraiser (Bank will arrange)

At the time of disbursement the following documents are required:

• Demand Promissory Note & Demand Promissory Note Take Delivery Letter
• Gold Ornaments Take Delivery Letter
• Arrangement Letter

Pallavan Grama Bank Gold Loan Documents Required – FAQs

✅What is the Pallavan Grama Bank’s procedure for closing Gold Loan?

Once the borrower pays the Principal along with the interest on the Acquired Loan amount, the Gold Loan will close automatically.

✅ What are preclosure charges at Pallavan Grama Bank?

The Preclosure charges are about in the range of 0-2%.

✅ What’s the minimum Gold Loan tenure?

The minimum Tenure is 6 months.