Anyone can take gold loan
Explain that anyone above 18 years of age can take a gold loan. However, before applying for a gold loan, make sure that the value of your pledged gold is sufficient to meet your financial needs. Note that the price of 24 carat gold for 10 grams in August is over 56,000 rupees soon after slipping. After falling below Rs 44,000 (10 grams of 24-carat gold) in March, gold prices have started picking up in April.
Also read- Start this business by applying 25 thousand rupees, it will earn up to 3 lakhs every month, the government will give 50% subsidyHere, check gold loan interest rates
1. Punjab & Sind Bank: Rate of Interest- 7.00%, EMI- Rs 15,439
2. Bank of India: Interest rate – 7.35%, EMI – Rs 15,519
3. SBI – Interest Rate – 7.50%, EMI – Rs 15,553
4. Canara Bank: Interest Rate – 7.65%, EMI – Rs 15,588
5.Karnataka Bank: Rate of interest- 8.42%, EMI- Rs 15,765
6. Indian Bank: Rate of interest – 8.50%, EMI – Rs 15,784
7. UCO Bank: Interest Rate – 8.50%, EMI – Rs 15,784
8. Federal Bank: Interest Rate – 8.50%, EMI – Rs 15,784
9. PNB: Interest Rate – 8.75%, EMI – Rs 15,784
10. Union Bank: Rate of interest – 8.85%, EMI – Rs 15,865
Also read- In this scheme of Post Office, earn 14 lakh rupees by depositing only 95 rupees, know how?
These documents have to be given
Voter I card, Aadhaar or PAN have to be given as an identity card for a gold loan. At the same time, you can pay electricity or telephone bills for address proof. Apart from this, photographs will also have to be given. Income proof may also have to be given on the demand of the bank. Different banks have different accounts. You can get a gold loan from a minimum of 20 thousand rupees to 25 lakh rupees. The loan repayment period can be from three months to three years.