Gold loan is a type of secured loan. It is a new and trending concept in Indian loan sector. Many people in India own gold as it is considered as a symbol of success and fortune. Often people do not use gold ornaments regularly and they are kept at home or in bank lockers for safety. But instead of keeping the gold ornaments there, you can mortgage them to a bank or an NBFC and get a loan against it with tempting interest rates. Keeping your gold ornaments as collateral for loan is known as ‘Gold Loan’. It is the fastest way to get loan and is also very easy as it does not require a plethora of documents. Along with ornaments you can also keep gold coins as collateral. These gold loans are usually taken for short tenures as per the applicant’s needs. The lenders design the repayment process and EMI’s according to the borrower’s needs. Gold loans are popular in urban as well as rural areas equally.
Why to Choose an HDFC Gold Loan?
HDFC offers gold loan under their ‘Sampoorna Bharosa Gold Loan’ scheme where the tenure is decided on the quality of gold and the amount disbursed. Tenure of HDFC gold loan ranges from 6 months to 4 years.
To avail HDFC gold loan you need minimum documents.
HDFC gold loan interest rate starts from 9.70% and goes up to 20.18%. These are the lowest interest rate available. But commonly the HDFC gold loan interest rate fall from 12% to 13%.
HDFC offers extremely flexible and many times customized repayment options. Borrower can start by paying interest rate and pay the principal amount at the end of the tenure. Also the borrower can make pre-payments in a few installments.
HDFC gold loans are approved and disburse quickly. They can be approved within an hour and the borrower can get the loan money quickly. Thus those who require funds quickly, gold loans are saviors for them.
What are the features of HDFC Gold Loan?
Gold loans are available to multiple number of people at the same time as they do not need many documents, eligibility criteria is minimum and even the process is easy & quick.
People from rural area are offered special lower interest rate if they opt for gold loan.
In gold loan, gold itself is kept as collateral.
Disbursement in gold loan often happens as fast as a few hours.
HDFC offers minimum of Rs. 50,000 loan amount against gold.
HDFC gold loan amount is decided on the gold’s purity, market price of gold and its karats.
If the gold ornaments you are keeping as collateral, contain precious stones, the loan amount is still determined on only gold not the precious stones.
HDFC offers in house gold evaluation.
Rejection in gold loan happens only if the borrower’s CIBIL score is not strong enough.
What are the Eligibility Criteria to avail Gold Loan?
The borrowers do not need any hefty eligibility criteria to avail gold loan HDFC. The minimum eligibility criteria are given below:
1. The borrower should own gold.
2. The gold coin or ornament to be kept as collateral should be above 18 karats.
3. The borrower should have a steady income to pay off the loan on time.
4. The borrower should have a good CIBIL score.
What are the Documents Required to avail HDFC Gold Loan?
1. Neatly signed and filled HDFC gold loan application form.
2. Passport-size photographs.
3. Identity and signature proof - Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.
4. Address Proof - Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax.
5. Two postdated cheques for security purpose
Why Choose RS Marketing To Apply For Business Loan?
RS Marketing is India’s fastest growing financial distributors. A comprised team with mammoth experience in finance and internally developed highly proficient Loan Calculator algorithm, we are pledged to offer solutions to all your financial needs. Borrowers can apply for a business loan with RS Marketing's latest online application process. You can choose from a plethora of banks and NBFCs on our website for your loan. We help you borrow right.
Hassle free process
We have developed an efficient, smooth and easy process for our consumers to get gold loan. Our easy to use online procedure allows consumers to apply documents quickly and also guide the consumers to embark on a hassle free process.
Compare your loan options
Our financial experts are always ready to give you the perfect advice. These highly trained professionals in finance know the back and forth of the industry. Our dedicated team of experts will help you at any given time, without charging a dime.
We understand the value of your documents and keeping them safe and private. Your loan applications are processed electronically with complete privacy so that you feel completely secured about your assets with us.
Benefits of applying with us
We value our consumers and are always on our toes to give them benefits of our expertise. Applying for HDFC gold loan with us, gives you a chance to avail the best offers and deals from our partner HDFC.
Free expert guidance and advice
We understand the value of your documents in keeping them safe and private. Your loan applications are processed electronically with complete privacy and transparency to make sure you understand every step.
How to Apply For HDFC Gold Loan on RS Marketing ?
Applying for HDFC gold loan on RS Marketing involves few easy steps
Step 1: Go to the ‘Gold Loan’ menu on our website and click on ‘HDFC Gold Loan’ option. There click on ‘Check Your Eligibility’ box.
Step 2: Fill out the initial personal and financial information. Once completed, our loan calculator checks your eligibility with its highly efficient algorithm.
Step 3: Here you get the interest rates, required document list etc. of HDFC gold loan.
Step 4: You can start filling up the form and upload the required documents. Here, if needed, you can call or mail our experts for advice. The contact details are given on our website.
Step 5: Your application will be sent electronically to HDFC. You will be informed about the status of your application via SMS, email or you can track it via website too.