Interest Rates Now Starting Only at 10%*
Quick Loan Disbursal
Flexible Repayment options
No Credit Check Required
Gold Loans in Berhampur
Berhampur is a city located in Odisha, known for its rich cultural heritage. For residents seeking financial flexibility, the Gold Loan in Berhampur offers a reliable solution. This loan allows individuals to leverage their gold assets without selling them, providing quick financial assistance for personal or business needs. Shriram Finance has established itself as a trusted provider of gold loans in Berhampur, offering a streamlined application process that emphasises speed and simplicity. The approach recognises the often urgent nature of financial needs, whether it involves addressing unexpected medical expenses, education fees, business opportunities, or household emergencies. Shriram Finance provides a streamlined application process for the Gold Loan, ensuring quick approval and minimal documentation. With competitive interest rates starting from 10%*p.a., this loan is particularly appealing for addressing financial emergencies or investing in new opportunities.
Features and Benefits of Gold Loans in Berhampur
In Berhampur, Shriram Finance offers a Gold Loan with several attractive features that cater to your financial needs. Here are the key benefits:
Quick Approval
Enjoy fast and reliable loan approvals with minimal documentation, ensuring you get the funds you need quickly. Most applications receive approval within hours rather than days, with funds disbursed immediately after documentation and gold assessment are completed. This rapid response can be crucial when facing time sensitive expenses such as medical treatments, education fee deadlines, or business opportunities with narrow windows.
Flexible Tenure
Repay your loan at your convenience with a tenure ranging from 1 month to 12 months. This flexibility allows seasonal businesses to align repayments with their peak revenue periods, enables salaried individuals to coordinate with their bonus cycles, and gives project based workers the ability to match repayment schedules with project completion payments. Such customisation helps prevent repayment stress while accommodating diverse income patterns.
Low Rate of Interest
Interest rates start from 10%*p.a., offering a cost effective option. This cost advantage stems from the secured nature of gold loans, where the pledged gold significantly reduces the risk. Lower interest rates translate directly into reduced borrowing costs, making gold loans an economically sensible choice for many financial needs in Berhampur.
Borrow Smartly
You have the flexibility to pay interest only for the period the Gold Loan is used. This means borrowers who repay early can significantly reduce their effective interest costs-a benefit particularly valuable for those who use gold loans as a temporary liquidity solution while awaiting other fund inflows. This interest structure rewards prompt repayment while providing financial flexibility.
Minimal Documentation
The process involves minimal paperwork, ensuring a hassle free experience. This approach makes financial assistance available even to those with limited formal financial history or documentation, including small business owners, self employed individuals, and those working in informal sectors.
Maximum Finance
You can secure a loan up to 75% of your gold's market value. This high loan to value ratio maximises the utility of gold holdings during financial needs, allowing borrowers to address significant expenses without needing to pledge excessive quantities of gold or seek multiple financing sources.
Gold Loan Interest Rates in Berhampur
| Type of Fees | Applicable Charges |
|---|---|
| Interest Rate | Starting from 10%*p.a. |
| Processing Fees | Up to 5% |
| Late Payment Fees | 36%*p.a. on the Overdue Amount |
| Foreclosure Charges | NIL |
How to Use the Gold Loan EMI Calculator
Loan
Loan Amount
₹5000
Interest Payable
₹ 42
Monthly EMI
₹ 5,042
Eligibility and Documentation Criteria for Gold Loans in Berhampur
Address Proof
Aadhar Card, Passport, Driver's License, Voter ID, Gas Connection Card, Water Bill, Electricity Bill, Prepaid Mobile Bill, or Landline Bill.
Identity Proof
Aadhar Card, Passport, Driver's License, Voter ID, or PAN Card (submit Form 60 if PAN Card is not available). Who Can Apply Eligible applicants include salaried individuals, self employed professionals, business owners, and other individuals. Age Applicants must be between 18* and 75* years old.
Step by Step Application Process for Gold Loans in Berhampur
The Gold Loan Application Process at Shriram Finance in Berhampur is straightforward, allowing you to obtain a Gold Loan quickly in 4 steps:
Step 1:
Register using your phone number.
Step 2:
Receive a verification call from them.
Step 3:
Visit their branch with your gold assets.
Step 4:
Complete verification and receive the loan amount.
Our Gold Loan Branches in Berhampur
Gold Loan Customer Care in Berhampur
Toll Free
Gold Loan Status in Berhampur
Residents of Berhampur can benefit from Shriram Finance's Gold Loan for their financial needs. To stay updated on your application, visit our website or reach out to our customer care team for real time information. By selecting Shriram Finance, you can enjoy a hassle free financial experience tailored to meet your objectives in Berhampur.
Gold Loan FAQs
Can I apply for a gold loan online in Berhampur?
Yes, you can submit your application for a gold loan via our website or mobile app.
What is the interest rate on gold loans in Berhampur?
The interest rate starts at 10%*p.a. However, the final interest rate offered by the financial institution may vary based on the market value of the gold used as collateral.
What is the tenure for a gold loan in Berhampur?
You can select a loan tenure from 1 month to 12 months.
Can I get a gold loan for any type of gold in Berhampur?
Gold loans are available for 18 to 22 carats gold ornaments and coins.
Is there a maximum or minimum limit for a gold loan in Berhampur?
The loan amount is contingent upon the value of your gold. Loans up to 75% of your gold's value are available.
What documents are required to apply for a gold loan in Berhampur?
Typically, you need to provide identity proof (such as an Aadhar Card, Passport, Driver's License, Voter ID, or PAN Card) and address proof (like an Aadhar Card, Passport, Driver's License, Voter ID, Gas Connection Card, Water Bill, Electricity Bill, Prepaid Mobile Bill, or Landline Bill).
Are there any prepayment penalties on gold loans in Berhampur?
Generally, prepayment penalties are not imposed. However, it is advisable to review your loan agreement to confirm whether any prepayment penalties apply.
How can I check the status of my gold loan application in Berhampur?
Following the registration process, our representatives will assess your profile and contact you regarding the status of your gold loan application.
Disclaimer
The information provided in this guide is for educational purposes only and should not be considered financial advice. Always consult with a financial advisor before making investment decisions related to fixed deposits or any other financial products.
