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 Prudential Dynamic Plan Invest Online

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   ICICI Prudential Dynamic Plan             Invest Online This fund does remarkably well during falling markets, but fails to show the same prowess during a rising market. The fund sticks to its mandate to adapt to the dynamic nature of the market by shuttling between debt and equity. It takes aggressive asset calls in equity when the market surges by investing in quality mid-cap stocks. At the same time, it adopts a defensive strategy by investing in debt and cash when markets get overvalued, making it a good long-term choice.     For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call     Leave a missed Call on 94 8300 8300   Leave your comment with mail ID and we will ...

Lump Sum or SIP?

Invest Mutual Fund Online     You have a lump sum in hand and you wish to invest in equity funds. However, you have heard a lot of talk about investing in equity funds through Systematic Investment Plans (SIPs) because they help average costs, ensure you do not ill-time the market, and help you invest in small sums, besides giving you many other advantages. So, should you invest the money you have in hand in one go, or let it remain in your bank account and then do an SIP? There is no harm in investing a lump sum amount. For all you know, compounding, over the long term, could work better with lump sum. However, make sure you fulfill all of these three criteria if you want to invest in one go. Else, SIP is the way to go. #1: You invest for the long term According to past data, ideally, if you have a time frame of 12 years or more, you can consider lump sum investing (provided you satisfy the other two conditions that follow). So, what is the sanctity behind 12 years? Is it because only...

ICICI Lombard to provide weather cover in 10 states

ICICI Lombard General Insurance Company has been given the mandate to provide weather-based crop insurance for rabi season (2010-11) in Madhya Pradesh, Bihar,Tamil Nadu, Karnataka, West Bengal, Chhattisgarh, Jharkhand and Himachal Pradesh.    The insurance company will cover 69 districts — 30 loanee districts (farmers who have taken loans) and 39 non-loanee districts. The major crops that ICICI Lombard covers for the season are winter paddy, cotton, wheat, mustard, barley, maize, onion, potato, tomato, lentil, peas, arhar, jowar, fenugreek, coriander, cumin, methi, isabgol, brinjal among other crops.    Weather-based crop insurance provides cover against weather-related risks such as excess or deficit rainfall, variations in temperature and fluctuations in humidity. This scheme facilitates immediate compensation based on certified data collected from independent third party bodies such as Indian Meteorological Department ( IMD ) and National Collateral Management Services Ltd. ( NC...

Feeder funds are the cheapest way to invest in gold

Buy Gold Mutual Funds Invest Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Call 0 94 8300 8300 (India)   There are four ways to put your money in gold — buying physical gold/jewellery , putting money in gold exchange-traded funds ( ETFs ), investing in a gold savings fund and going for the National Spot Exchange's e-gold. Now, some gold ETFs and e-gold even allow taking physical delivery of gold at the end of investment tenure. That might sound good if you wish to possess physical gold. But, given the firm price of gold today (almost ~31,000 per 10g), it is important that gold is bought through acost-effective avenue. Reason: Investing comes at a price. Add to that, India's gold buying is expected to decline in 2012 and 2013, according to the latest World Gold Council ( WGC )report. WGC Director Vipin Sharma feels gold imports may drop to 800 tonnes from 967 tonnes last year. And the mix between the jeweller...

Tax Returns: Myths and facts of filing your Tax Returns

THE fiscal year has ended and many choose to make tax-filling. Despite this being a regular, annual ritual, several tax payers have some misconceptions, some of which are listed below: Misconception No. 1 Filing tax returns is a complex and cumbersome process. I need a Chartered Accountant to help me file my tax returns. Contrary to popular belief, preparing and filing tax returns is actually quite simple. If you have a digital signature you can accomplish the entire process sitting at home on your computer thanks to the e-filing facility on www.incometaxindiaefiling.gov.in. Alternatively, you can submit the returns online, print a one-page receipt, sign it and drop it off at the income tax office within fifteen days of submitting the returns. No documents are required to be submitted with the receipt. However, if you want help, there are several third party service providers who offer tax preparation and filing services for a fee as low as Rs 200. Misconception No. 2 The interest I p...
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