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What Are The Advantages Of Gold Loan

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By Author: Suryansh
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Financial crisis can happen at any time with anyone. They can arise due to unwanted health issues or some unplanned situations. These financial crises have the power to shatter our budget completely or to give a scar over the pocket. But you need not to worry as long as you have some assets with you and the best among them is Gold. Loans on gold are the easiest of all and have fixed and easy interest rates. What makes the Gold loan so appealing? it’s not only the minimal documentation and quickest disbursals but anyone can successfully take these loans and that too within an hour. You can be a business tycoon who wants to expand more or you can be a house maker who is willing to support the family in the face of economic problems. All this can be done simply by transferring your gold from your home to the safest bank lockers. You fight your problems or just go on a long-planned vacation with your family while your gold lies safely with the bank. Moreover, Punjab national bank gold loan comes with zero hassles and quickest disbursals. Not only this Gold loan comes with easy EMI options and anytime liquidity. These loans fall under the secured loan category hence have the fastest processing. To qualify for a Punjab national bank gold loan eligibility you need to have some basic documents which can be-
1- Proof of your Identity is required you can provide any among them- Passport Copy/ Voters ID card/ Driving License
2- For the proof of residence any of them can be given Ration card/ Tel, Electricity Bill/ Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate.
3- Besides, a signature Proof is also required which can be Passport Copy/Driving License/Banker's verification/cheque.
4- Two latest passport sized photographs also needed.

As per Punjab national bank gold loan documentation some other proofs are also needed in special cases like Land Proof: In case of Agriculture Loan of more than Rs. 1 lac. Land Proof is needed. A certificate from a gold appraiser which is none of your worries as it is arranged by the bank is also needed.

Needless to worry about your cibil scores. But there are some benchmarks which your Gold needs to meet, like the purity of gold needs to be more than 18 Karats. Less than that is not considered for a Loan. Apart from that, the minimum quantity cannot be less than 10grams.
Punjab national bank gold loan interest rates are very minimal and touch only a meager percentage of 10.75 %. Moreover, you pay only on the amount overdraft used not more than that.
Other charges for Punjab national bank gold are also very low as you pay only 0.85% as processing charges which are really less in comparison of other loans For the repayment options, Pre-closure charges are also 0%-2% only. Furthermore, there are a lot of options like Bullet repayment, overdraft facility, and EMI facility so pay as you desired. So just stop giving yourself any more excuses and apply for Punjab national bank gold loan today.

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