Gold loan Tamil nadu with Interest Rate

Gold loan in Tamil nadu

This is the details of Gold loan Tamil nadu with Interest Rate in various bank and branches. Many government and private schemes are emerging daily to offer loans for various purposes. The fastest growing and highly appreciated scheme is Gold loan scheme. Under this loan scheme the loan applicant invests his/her gold or gold jewellery and seeks the required loan amount.

List of Gold Loan Companies in Tamilnadu

·         Tamilnad mercantile bank gold loan

·         Tamilnadu cooperative bank gold loan

·         Tamilnadu cooperative society gold loan

·         Manappuram gold loan in tamilnadu

·         Iifl gold loan Tamil nadu

·         Axis bank gold loan tamilnadu

Know the details of Gold Loan in Tamil nadu

Government and private banks and some private finance companies offer variety of gold loan schemes. The rate of interest they offer on the loan is also affordable when compared to the other loan schemes. All you have to do is keep your gold jewellery with the finance company and they offer you the loan up to   80% of the current market cost of the gold deposited. Thus investing gold and acquiring required amount of loan is the easiest way of getting financial help in time of need.

It advised to choose lowest gold loan interest rate in tamilnadu before going to plane about your gold loan.

How to apply for gold loan Tamilnadu

The process of applying for gold loan is very effortless and the documentation needed is very few. Banks and companies generally ask for the following documents:

1.   Photo identity evidence of an applicant.

2.   Valid address proof of an applicant.

3.   Signature proof of an applicant to verify the signature.

4.   Passport size photos of an applicant.

Benefits and Gold loan Interest Rate Tamilnadu

1.   The main advantage of gold loan is the low rate of interest on the loan amount. Gold loan interest rate tamilnadu is highly favorable. Generally the rate of interest on personal loan reaches up to 25% to 26% p.a. but the rate of interest on gold loan is as low as 15% to 16% p.a. only.

2.   Other types of loan schemes demand many documents and guarantee papers. But gold loan is easily available for any needy person who deposits gold with the company. Gold loan doesn’t demand any type of income proof, bank history evidence etc. The all it requires is Id proof and address proof. Anyone can use their gold power in time of need.

3.   The bank or finance company gives the option of paying only interest amount during the loan period and the actual loan amount can be paid in the end of the term as per scheme.

4.   Gold loan scheme is instant finance scheme as the loan procedure is very fast and an applicant can get loan amount within few minutes only.

5.   The processing charges for the gold loan are also as low as 0.56% on the amount. Some companies even do not take processing charges.

6.   You can also get tax benefits by showing interest amount as your extra expenses.

7.   Gold loan jobs in Tamilnadu. Your gold remains safe with the finance company or bank.

8.   In addition this gold loan jobs in Tamilnadu fill the carrier vacancies.

Here is the link for manappuram gold loan tamilnadu branches

www.manappuram.com/branches

To know about the branches of other banks like iifl, reliance gold loan, muthoot finance gold loan,  and federal bank gold loan at your palce visit the official website of the bank.

What are the drawbacks in accepting gold loans in Tamilnadu  

1.   Be alert while selecting the finance company or bank before you handover your gold with them. Select government aided banks and companies or if you choose private finance company then go for the well reputed and trustworthy company only.

2.   Along with the late payment charges, some companies even charge amount if you pay off the loan amount before the due date. So clear all these types of facts before applying for loan.

3.   If you fail to repay the loan amount within certain period, the company can confiscate your invested gold and even you may have to face heavy penalty.

4.   The rate of interest of some private companies is less in the initial few months, and it increases very high after a certain period. Be alert about interest and repayment related conditions before applying.

In Tamil nadu ICICI Bank, Muthuhoot finance, Mannapuram Gold loan, State bank ad HDFC banks are some major and trust worthy companies offering gold loans.

Manappuram gold loan in Tamilnadu

Mannappuram Finance is India’s highest credit rated gold loan company. The company is registered under RBI and it is functioning from the year 1949. The company rate of interest charged by this company is from 14% to 24%p.a and the processing charges are only Rs.10/-. The consumer who proves to be a regular payee of interest amount, the company won’t charge hike in interest amount.