Gold Loan
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Gold Loan
Instant Gold Loans Tailored to Meet Your Needs!
Access a secure gold loan with transparent terms, no hidden fees, and fast approvals, providing a quick and hassle-free financial solution.
Features and Benefits of our Gold Loan
- Secured Loan : Secured against Gold.
- Quick Processing : Quick approval and disbursal.
- Flexible Loan Amount : Based on value pledged for gold.
- Instant Liquidity : Get liquid money without selling the Gold.
- Lower Interest Rates : Secured loan earns a competitive rate.
- All Usage Flexibility : There is no restriction regarding usage of loan funds.
Eligibility Criteria
Age: Typically, the applicant should be above 18 years.
Ownership: You must have the gold being mortgaged
Gold Quality: The purity of gold should meet the lender’s standards
Identification: A valid govt. ID proof that identifies the customer.
The eligibility criterion for gold loans ensures that the company checks and verifies if applicants fulfil eligibility criteria. Due to this, money belonging to customers is safe, and proper access is achieved towards genuine gold loans.
How to Apply for Gold Loan at Vagami fincorp?
The application process for a gold loan can follow these general steps; however, it may differ according to lender and country. Here are some points to remember before Applying Gold Loan:
Select a Lender Research and select a reputable lender that offers gold loans. This may be a bank, financial institution, or company specialising in gold loans.
Pre-assess one’s Eligibility Check one’s eligibility criteria stipulated by the lender. Ordinarily, this may imply an age and owning jewellery in gold and above specific standards of the lender.
Visit a nearest branch of the lending institution, or apply through their website or mobile app when one is available.
Gold Appraisal: If you apply face to face, then get the gold you want to mortgage as collateral to a lender’s branch. In the appraisal process, he would weigh and measure that gold to know its purity and its value in order to check the amount of loan you might get. If you applied through online, then they will ask you to physically come to the branch so that they can appraise it.
Nowadays, even some fintech companies take their services to the doorsteps of customers.
EMI Calculator for Gold Loan
How is EMI Calculated on a Gold Loan?
Gold Loan EMI Calculation can be done with this compound interest formula
EMI = [P * r * (1 + r)^n] / [(1 + r)^n – 1]
Where
EMI Equated Monthly Instalment
P is principal amount of the Gold Loan
r is the Monthly interest rate which is calculated with an annual interest rate of divided by 12 or it is decimal.
n is the tenure of a gold loan in months