What are the important things to know before applying for Gold Loan?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177946 Points)
Replied 01 March 2022
While applying for a gold loan, you must have the gold loan required documents in place. These documents include:
Valid and active identity proof like:
- Aadhar card
- PAN card
- Voter ID card
- Passport
- Driving license
- Ration card
- Passport-sized photograph(s)
- Form 60/ 61
Valid and active address proof like:
- Voter ID card
- Driving license
- Ration card
- Aadhar card
- Passport
- Utility bills – gas, electricity, water, and the like that are not older than three months
- Lease agreement (if required)
- Income proof (if required)
- Proof of landholding in cases of agricultural loans
You must also fill and submit the gold loan application form correctly to avoid rejection of the loan. Your bank might also request you to furnish any other documents they deem as needed.
Swastik Samal
(6 Points)
Replied 08 October 2023
Before applying for a Gold Loan from home, consider key factors such as interest rates, loan-to-value ratio, and repayment terms. With services like Muthoot Fincorp One, you can even apply for a Gold Loan from the comfort of your home. Ensure your gold is well appraised, and understand the terms and conditions of the loan agreement, including any associated fees. Timely repayments are crucial to retain ownership of your gold assets.
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