Monetary problems pertaining to business expansion, child’s higher studies, wedding or medical emergency can strike anytime, but it can be settled conveniently if you own gold.
A gold loan or a loan against gold is a secured loan which customers can get in lieu of gold ornaments like gold jewellery. It is the easiest way to fulfil your financial needs and proves to be a sensible alternative to availing loans from banking channels.
When it comes to taking a gold loan from NextFin, you are ensured of complete customer satisfaction – with quick loan disbursals and attractive rates of interests, we offer complete ease along with an exemplary experience. Enjoy comfortable EMIs with a tenure of 3 – 12 months and interest rates starting 12%. Apply now.
The gold loan eligibility depends on whether you are a salaried individual, self-employed or an SME. Your repayment potential is assessed on factors such as your income, fixed obligations, credit history, etc. Thus, along with the loan application, you will have to submit the following documents required for a gold loan.
Our unmatched gold loans product and experienced team ensure quick loan disbursals, hassle-free process and flexible tenures.
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As the name suggests this is the loan given against gold. It’s a secured loan that enables borrowers to pledge their gold in lieu of a cash loan. The maximum loan amount loan varies from one lender to another. It can range between Rs. 1,500 and Rs 1 Crore depending on the eligibility criteria.Customers usually go for this loan for short period to meet the requirement of their children’s education, marriage and other financial problems in the family.
For a gold loan, applicants should be aged above 18 years and should have gold that needs to be mortgaged with the bank.
The interest rate on your gold loan varies from profile to profile. NextFin team will assess your gold and profile and then provide the best possible competitive rate.
The maximum loan amount loan varies from one lender to another. It can range between Rs. 1,500 and Rs 1 Crore depending on the eligibility criteria.
The loan approval process for gold loan is very fast. If your application meets all the requirements, it takes just an hour for the loan amount to be disbursed.
A gold loan can be repaid in as less as 1 day to 48 part payment installments.
A nominal processing fee is levied on your gold loan.
Loan foreclosure charges range from 0%-3% and are applicable on the outstanding amount of your gold loan.
It’s very simple to reclaim deposited gold. Plan your loan repayment efficiently and ensure you do not default. Failure to repay the loan in the stipulated time will result in auctioning of your gold ornaments.
The loan can be repaid by choosing any medium of money transfer as you desire, such as Cash, Cheque, Demand Draft or Online Fund Transfer.
NextFin usually levy an annual penalty between 1% and 6%. This is in addition to the rate of interest that you would be paying to service your loan.
Documents required for approval of your gold loan are:
A gold loan can be repaid partially at any point in time. However, your deposited gold will only be returned once the entire loan amount has been repaid.
NextFin take a lot of precaution while storing your gold and keep it safe until the loan amount is returned. We understand the sentimental value attached to gold ornaments and act as custodians while the gold remains with us.
NextFin is the brand name of Amar Amba Finance Hire Purchase Pvt Ltd (an RBI registered NBFC) where we provide short term personal loans upto Rs 50,000 and secured loans upto Rs 5 crores through our mobile app.
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