ELIGIBILITY FOR GOLD LOAN IN mumbai
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.
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.
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.