Skip to main content

Gold Loan Applying

 

When applying for a Gold Loan....

There are times when we come across a situation where we urgently and immediately require cash for emergency like medical treatment. Even sometime we need to raise money to meet margin money requirements for housing loan. And sometimes we simply need cash urgently  for any other personal needs.
The immediate choice one thinks of at such time is either availing a personal loan or arranging the funds from relatives or friends. 

While relatives and  friends may or may not be in s position to accommodate your request, the personal loan may take minimum of 3  to 4 days for processing and that too is contrrained by your income, credit history and repayment capacity. Borrowing on your credit card (if the cash withdrawal limit permits) can be the easiest solution but the interest rates applicable on this option are so exorbitant that finally you may end up in a debt trap.

The ideal solution to all these hassles is taking a Gold Loan i.e. Loan against your gold ornaments or jewelry. Taking a loan against your gold jewelry is much cheaper in terms of interest rate than availing a personal loan or borrowing money on your credit card. 

Gold loan gives you the ease and convenience of repayment as compared to any other loan and also avoids those lengthy hassels of formal documentation process. This is also your surer way to get cash unlike in other cases where your loan may be rejected due to other credit liabilities or having a poor credit history.

Lenders like Muthoot Finance and Manappuram Finance lend up to 60% of the realisable value of gold jewelry / ornaments whereas banks can provide up to 90% of the realizable value of the jewelry as well. 

Gold loans typically are given for a tenure of one year and the tenure can be further extended at the prevailing rate of interest at the time of renewal. 

The process for availing gold loan is quite simple.  You can avail the same in bare minimum time. You just need to walk into any office of the lender, which gives gold loan, along with your gold jewelry or simply apply through our website. For documentation you will need to carry your id proof (Driving license, pan card, voters id, passport, etc) and an address proof (ration card, electricity bill, landline telephone bill, etc.)

The lender will evaluate your jewelry and will provide the gold loan based on their valuation, which normally will lower than the value that you estimate. As the rate of interest is linked to your loan to value ratio, the trick to get lower rate of interest is to ensure that your loan does not exceed more than 50% - 60% of the jewelry value. This will ensure lower rate of interest. 

The loan has to be either repaid back in EMI or you can pay only simple interest on the loan amount and close the loan account on expiry of the tenure.. The jewelry will be released on payment of all EMI's or payment of principal amount.

Muthoot Finance and Manapurram Finance are two very active players in loan against gold jewelry. Bank Like HDFC Banks, State Bank of India, Central Bank of India, Indian Overseas Bank also provides these loans. 

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. IDFC Tax Advantage (ELSS) Fund

4. ICICI Prudential Long Term Equity Fund

5. Religare Tax Plan

6. Franklin India TaxShield

7. DSP BlackRock Tax Saver Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. HDFC TaxSaver

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online

Invest in Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

ICICI Pru Mutual Fund Dividend

ICICI Prudential Mutual Fund has announced dividend under the following schemes: Scheme Dividend ( Rs /unit) ICICI Pru Capital Protection Oriented Ser V Plan B-D 0.03611325 ICICI Pru Capital Protection Oriented Ser V Plan B Direct-D 0.03611325 ICICI Pru Balanced Advantage Direct-DM 0.06 The record date has been fixed as February 08, 2017. ------------------------------ ------ Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds Top 4 Tax Saver Mutual Funds for 2017 - 2018 Best 4 ELSS Mutual Funds to invest in India for 2017 1. DSP BlackRock Tax Saver Fund 2. Invesco India Tax Plan 3. Tata India Tax Savings Fund 4. BNP Paribas Long Term Equity Fund Invest in Best Performing 2017 Tax Saver Mutual Funds Online Invest Best Tax Saver Mutual Funds Online Download Top Tax Saver Mutual Funds  Application Forms For further information contact  SaveTaxGetRich on 94 8300 8300 ------------------------------ ------ Leave y...

Hidden Bank Fees

  What Banks Hide From Customers Imagine after a peaceful and exciting holiday you receive your bank statement with steep charges. You then rush to your bank and start confronting staff members and to your dismay, you come to know that the high end debit card was charged very heavily. Wouldn't this cause damage to your finances? So remember, the world outside is full of deceptive and double cheating people. Unethical practices are always used by company sales person in order to meet the target. Credit card companies, mutual funds and bank institutions always play dirty tricks to lure customers and the practices are rampant. So here's how you should be careful while dealing with your banks: High End Debit Card Charges While opening an account with a bank you opt for a debit card with minimal charges. But later on when you upgrade your card and opt for high end debit card the annual charge rise by a good amount. Though such a card has slew of features but it all comes at a high ...

Partial withdrawal from PPF

  Public Provident Fund (PPF) account has a lock in period   If you opened a PPF account to meet your retirement needs,, think twice about withdrawing from this fund before retirement. But provided it's an emergency here are the rules. Public Provident Fund (PPF) account has a lock in period before which you cannot withdraw your money.   The partial withdrawal is allowed after the completion of 6 financial years . This means that you will be allowed a partial withdrawal from 1 April 2017. The maximum partial withdrawal allowed is the least of the following: 50 percent of the account balance at the end of fourth financial year, 31 March 15 50 percent of the account balance of the end of previous financial year, 31 March 17.   There's a loan option available on your PPF account between the fourth and the sixth financial year. You can obtain a loan of up to 25 per cent of the balance in your account. However, this will attract interest of 2 percent more than the prevailing ...

Updating a minor PAN card upon becoming adults

  Updating a minor's PAN card once they become adults A PAN card issued in the name of a minor does not contain the minor's photograph or signature, and therefore, cannot be used as a valid proof of identity. Once a minor PAN card holder turns 18, the relevant changes must be made in the PAN records. A new card is then issued bearing a photograph and signature. Application The applicant is required to fill up the "Request for new PAN card andor changes or correction in PAN data" form. The form can be filled up online by accessing NSDL's Tax Information Network website and clicking on the online PAN application tab. Information The applicant must mention the existing PAN number in the application and check the `photo mismatch' and `signature mismatch' boxes, and submit the online form. The form must also be printed out, signed by the applicant, and submitted along with two photographs. Documents Identity and address proof in the form of a copy of the app...

ICICI Prudential Value Fund Series I

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   Performance of the scheme will be benchmarked to the S&P BSE 500 index ICICI Prudential Value Fund is a closeended equity scheme. The scheme will have tenure of three years (1095 days) from the date of allotment of units. Units of the scheme will be fully redeemed at the end of the maturity period, unless rolled over. NFO PERIOD:   The NFO is open from October 18 to 28. The minimum subscription during the NFO period is Rs 5,000. SCHEME OBJECTIVE:   The scheme aims to provide long-term capital growth by investing in a well-diversified portfolio of equity and equity-related securities. INVESTMENT STRATEGY:     The fund proposes to invest in stocks that are trading at a huge discount in the BSE 500 index and plans to book profit and distribute dividen...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now