Gold Loan in Mumbai
@ 0.77% per month*
Apply with mobile number
You will receive a call from our Relationship Manager
Nearest indiagold office
Building A-109, Sagar Tech Plaza, Andheri Kurla Road, Sakinaka Junction, Mumbai, 400074
*Terms & Conditions apply
GETTING A GOLD LOAN IS A TEDIOUS AND TIME CONSUMING PROCESS, ISN'T IT?
Well it turns out that we at indiagold has a solution for your problem. Now you can get Gold loans at your doorstep.
0.77% RATE OF INTEREST PER MONTH
DOORSTEP GOLD LOAN
MONEY TRANSFER IN JUST 30 MINUTES
100% FREE INSURANCE ON YOUR GOLD
NEED MONEY QUICKLY IN mumbai?
Look no further than a gold loan with indiagold!
With indiagold's doorstep gold loan service in mumbai, you can borrow money using your gold or gold jewellery as collateral. No need for a down payment or additional collateral.
Simply apply here, and get the funds you need in no time. Whether for personal or business use, a gold loan is a hassle-free way to get the financial support you need.
Mumbai city is a financial hub of India, and that's why it has been called "City of Dreams". It is the country's most populous city and the fourth most populated metropolitan city in the country. As a metropolis, Mumbai has the second highest GDP per capita in India after Delhi. There are various famous museums in Mumbai where you can explore the wealth of Indian culture. With several industries as well as being home to the world's most renowned film industry, it also has a big share in the economy of India
Cash crunches are very common for the many residents here, and therefore the option of getting a gold loan in Mumbai can be a lifesaver. So it is very important to know all the important features of such a loan and its benefits before borrowing
BENEFITS OF GOLD LOAN IN mumbai
There are many reasons why you should consider taking a gold loan.Here are 7 benefits of gold loan in mumbai:
You can use it to fund the education of your children.
It can be useful for expanding business or working capital requirements or to
Buy a home from gold loans
To improve agriculture by buying machineries for irrigation and other needs
To get a loan at competitive rates with no collateral requirements
To fund any urgent emergency needs
For more details: Funding emergency needs with gold loans
Flexible usage: There are no restrictions on how you are using your loan money, unlike other types of loans
Less Paperwork: The entire process from loan application to disbursement, hardly any paperwork is required. At indiagold we disburse your loans in just 30 mins* of the process
FEATURES OF GOLD LOAN IN mumbai
Attractive interest rates:
As gold loans are secured loans, they are subject to lesser interest rates as compared to other types of loans
Loan-to-value (LTV):
The LTV ratio is 75% maximum, capped by the Reserve bank of India (RBI). For example, if you pledge gold worth Rs 1 Lakh, you can get a maximum of Rs 75,000 as Gold Loan.
Lesser processing fees:
The processing fees of gold loans is very less. We at indiagold offer ZERO processing fees.
No foreclosure charges
There are no foreclosure charges or prepayment penalty on paying the loan amount before the loan tenure, as compared to other loans
No credit score requirement
Since gold loans are backed by gold or gold ornaments as collateral, there is no requirement for credit scores. Even though people with lesser credit scores can get these types of loans.
No restrictions on the usage of money
There are no restrictions on where you are using the money obtained from the gold loan, unlike other loans.
Tenure of Gold loan
Gold loan tenures starts from 3 months and can go upto 5 years depending on the loan amount and the borrower's requirement. At indiagold, gold loans tenure is of 6 months. However, it can be renewed in a hassle free manner from the indiagold app, without any additional charges.
Safety of gold
The financial institution offers strong security of your gold. Your gold will be kept in their vaults with proper surveillance. indiagold offers 100% insurance on your gold, free of cost.
Gold Rate in Mumbai for Last 10 Days (10 gm)
| Date | 22K Gold | 24K Gold |
|---|
ELIGIBILITY FOR GOLD LOAN IN mumbai
Age group:
You can be eligible for a Gold Loan if you are an individual of the age group of 18 to 65 years, and your occupation is salaried professional, self-employed individual, business owner, entrepreneur, student or senior citizen.
Tenure of the loan:
The loan repayment tenure for gold loans typically ranges from 6 to 24 months, and you should be able to repay the loan within this period. At indiagold the tenure of the gold loan is of of 6 months, which can further be extended after 6 months.
Purity of loan:
While speaking of Gold Loan eligibility, it is essential to mention the type of gold accepted by banks. Most banks accept only gold jewellery and purity levels should be 18K-22K.
Occupation:
A person's occupation is another important factor in determining eligibility for a Gold Loan. The loan is available to salaried professionals, self-employed individuals, business owners, entrepreneurs, students, seniors, pensioners, and housewives.
Employment type:
Salaried and self-employed each are eligible. Businessmen are more and more taking gold loans to meet their working capital requirements. In fact, housewives, senior residents who are no longer eligible for different loans due to the fact they have no profits proofs can without problems avail of gold loans.
Track record of employment:
Banks do no longer take a look at your job steadiness or enterprise balance to sanction you a gold loan. Gold loans are granted without proof of profit. You solely want to post your fundamental KYC files such as address proof, identification proof, and an Aadhaar card to avail of this loan.
DOCUMENTS REQUIRED FOR A GOLD LOAN IN mumbai
Identity Proof
Aadhaar Card, PAN Card, Voter ID, Passport, or Driving License
Address Proof
Aadhaar Card, Voter ID, Passport, Driving License, Utility Bill (Phone/Gas/Electricity/Water/Broadband, etc.) / Lease Agreement of a local address that matches the address on your utility bill (in case your permanent address is different from your current residential address)
Form 60 or PAN Card
2 Passport size photographs
HOW TO APPLY FOR GOLD LOAN IN mumbai
Getting a gold loan is a very simple process with indiagold
Step 1
Request For A Gold Loan
Apply now for a doorstep gold loan from indiagold below
Apply Now for online doorstep gold loan
Gold Loan Starting @ 0.77% Per Month*
You will receive a call from our Relationship Manager
Step 2
Get Doorstep Visit by Loan Manager
Your loan application will be processed by a loan manager who will come to your home. It takes less than 30 minutes to complete the process.
Step 3
Instant Money Transfer in your Bank Account
Following the approval of your application, funds are immediately paid to your bank account. Your gold ornaments are packed and sealed in secure GPS-enabled packages right in front of your eyes.
Step 4
Gold Is Safely Stored in Secure Vaults
The loan manager safely takes your gold and places it in secure vaults after the money has been deposited into your account. The moment your gold leaves your home, it is insured and becomes our responsibility. From the indiagold app, you can close your loan or pay your EMI.
REPAYMENT OF GOLD LOAN IN mumbai
Once you opt for a gold loan, you can pay back the principal and the interest in various different ways. Here are some of the gold loan repayment schemes available.
Bullet repayment:
Bullet repayment is a method in which the borrower is required to pay interest and principal amounts at the end of the term of the gold loan. During the loan tenure, you are neither required to pay the interest nor the principal amount. You will pay the entire amount when the loan term is completed. It is known as bullet repayment because you pay the whole amount at once at the end of your loan term.
Partial repayments:
Another method to repay the gold loan is to make partial payments. You can make partial payments of the principal and interest amounts as per your needs and requirements. Following the EMI system is not important in this type of gold repayment method. You can set up your gold loan payment scheme online as you desire with your lender and make the payments wholly or partially of both the interest and principal amount.
Pay off interest first:
Through this option, you can repay the interest amount as per the EMI schedule of the gold loan however the principal amount borrowed is to be paid, in full, at the time of maturity. Such an arrangement works wonders for most borrowers as throughout the loan tenure one is liable only to pay the interest and not worry about principal repayment.
Regular EMI’s:
Most gold loan borrowers prefer periodic EMIs. Borrowers are required to pay the loan amount from the month following the disbursement month. It is considered a suitable option for salaried people who have a monthly income flow. The monthly EMI includes both the principal amount and interest amount. It is a quick and easy repayment process of gold loans as it deducts from your account monthly. You can also automate the monthly repayments if you prefer for easy payment. The periodic EMI option also helps reduce the liability of interest as the loan term progresses. The loan foreclosure gets easier after time
WHAT IS A GOLD LOAN?
A gold loan is an alternative to traditional forms of loans. First you need to know more about the fact that there are many different types of loans, but the most popular ones are traditional banking loans and mortgage loans. Nowadays, with the appearance of various other types of loans, such as personal unsecured loans and commercial real estate loans, one may wonder what is a gold loan and how it works?
Gold loans are longer-term and usually interest-free gold loans for small businesses. They're hard to come by, and here on us, we want to make this process easier and stress-free for you too.
The gold loan is a secured loan wherein a customer pledges gold (this includes jewellery, ornaments and bank-issued coins) as collateral for taking a loan. It's also known as a gold loan because customers can pledge their gold to the bank in exchange for a cash advance. Basically, it's like borrowing money from your gold.