GOLD LOAN NEAR ME

Let us briefly tell you guys about the process and procedure on how to get yourself with a gold loan and the steps you need to follow to have it sanctioned to you. Basically always remember that there are two types of sectors that can lend you the gold loan,one is the usual and known banks like HDFC, ICICI, SBI, etc which the other ones are Non-banking companies. Now let us talk you through how you can reach one among these two and can get your hands on the gold loan.

KEY POINTS TO REMEMBER AND FOLLOW

1. Firstly, as the name suggests, one should be having any sort of gold assets to gain a loan against the gold. 
2. See, to it that, whatever gold you are going to be offered as a borrower for loan, should have the purity of 18 Karats.
3. Your age factor plays a vital role, and all banks and non-banking companies consider an individual to be 18years of minimum age to apply for a gold loan.
4. Consider this a very important step to have organized all your basic Government ID proofs as you will be asked to submit to fulfill the process.
5. Once you are all set from your end, the journey begins for you to visit a lending institution and pledge for a loan against the gold you are offering.
6. Lender then eventually happens to run the regulations by performing the purity check for the gold you offer. And also determines the weight of gold and then calculates its market value to grant you the loan accordingly.
7. With the advancement in the technology to make everything handy and easier for you, gold loans can also be applied online, by just visiting a particular bank's website or even through NBFCs mobile applications. Let me give you a certain example like HDFC bank that agrees to give you a HDFC Bank Gold Loan, which promises a loan approval in just 30mins. This 30mins of spending your time online on their website can get you a loan without even making you travel. But an important point for every borrower who’ll avail a gold loan online has to remember that, they should be making a visit at least once to hand over their gold belongings to their respective chosen lender.
8. However, all these might seem really simple and easy but as a borrower it is your own responsibility to do your own research before trusting so and so lending and handing him over your gold articles. You should always calculate the charge and think about the scheme you must be choosing for your repayments and when EMI is an option considered from your end, you can always rely upon the gold loan calculator and can go ahead with your payments.

These are a few steps to avail yourself with a gold loan lending institution near you.