Interest Rates Now Starting Only at 10%*
Quick Loan Disbursal
Flexible Repayment options
No Credit Check Required
Gold Loans in Imphal West
Imphal West, renowned for its agricultural prosperity and rich cultural heritage, is witnessing a rising demand for accessible financial solutions. Whether it's supporting farming activities or achieving personal milestones, residents are seeking reliable options to meet their financial needs. Shriram Finance provides comprehensive gold loans in Imphal West with competitive interest rates starting at 10%* p.a. The flexible repayment terms, ranging from 1 to 12 months, cater to the community's diverse financial requirements. Shriram Finance's streamlined documentation process and rapid approvals have solidified its position as a trustworthy financial partner in the region.
Features and Benefits of Gold Loans in Imphal West
Shriram Gold Loans present various attractive features and benefits, making them a preferred choice for individuals seeking financial assistance. Here are some of the key advantages:
Maximum Finance
Loan up to 75%* of your gold value, in compliance with RBI regulations. Gold loans are offered for loan amounts of up to 75%* of the market value of the gold pledged as collateral or security. The valuation process uses advanced technology to accurately determine gold purity and weight, ensuring you receive maximum value for your assets. This loan to value ratio strikes a balance between providing substantial liquidity.
Minimal Documentation
The process involves minimal paperwork and is hassle free, requiring only basic identity and address verification documents. This streamlined approach eliminates the extensive paperwork typically associated with other loan types, saving valuable time particularly for rural borrowers who may have limited access to multiple document types. The simplified documentation process also benefits those without extensive credit histories or formal income proof who might struggle to qualify for conventional loans.
Borrow Smartly
Pay interest only for the period the gold loan is used for, with options for part payment that reduce your overall interest burden. This feature allows borrowers to repay early when additional funds become available, such as after harvest seasons or business cycle completions, potentially lowering the total cost of borrowing significantly.
Quick Approval
Reliable and faster loan approvals with minimal documentation mean that funds can often be in your hands within hours of application. This rapid processing is particularly valuable during emergencies or time sensitive financial requirements such as medical expenses, educational fee deadlines, or business opportunities with narrow timeframes.
Low Rate of Interest
Interest rates start from 10%* p.a., making gold loans substantially more affordable than many unsecured alternatives. This competitive pricing reflects the secured nature of the loan and translates to significant cost savings over the loan tenure.
Flexible Tenure
Pay your loan back whenever you want, but there is a minimum loan duration of 1 month. The loan tenure ranges from 1 month to 12 months, allowing you to align repayment with your cash flow situation, whether that's monthly salary, quarterly business proceeds, or seasonal agricultural income.
Gold Loan Interest Rates in Imphal West
| 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 Imphal West
Address Proof
Aadhaar Card, Passport, Driver's License, Voter ID, Gas Connection Card, Water Bill, Electricity Bill, Prepaid Mobile Bill, or Landline Bill.
Identity Proof
Aadhaar Card, Passport, Driver's License, Voter ID, or PAN Card (In case you do not have a PAN Card, you can submit Form 60). Age: 18 to 75* years. Who can apply? Salaried, self employed, self employed professionals, business owners, and other individuals.
Step by Step Application Process for Gold Loans in Imphal West
Their easy to apply process will help you get 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 Imphal West
Gold Loan Customer Care in Imphal West
Toll Free
Gold Loan Status in Imphal West
To monitor the status of your gold loan application, simply visit our website and enter your reference number. For any immediate assistance or queries, our dedicated customer support team is always available to help.
Gold Loan FAQs
Can I apply for a gold loan online in Imphal West?
Yes, you can apply for a gold loan online. Visit our website or mobile app to apply for Shriram Gold Loan.
What is the interest rate on gold loans in Imphal West?
The interest rate starts from 10%* p.a. However, the final gold loan interest rates offered by the lender may depend on the market value of the gold pledged as security.
What is the tenure for a gold loan in Imphal West?
You can choose a loan tenure starting from 1 month up to 12 months.
Can I get a gold loan for any type of gold in Imphal West?
Shriram Finance provides gold loans for 18 to 22 carats gold ornaments and coins.
Is there a maximum or minimum limit for a gold loan in Imphal West?
The loan amount will depend on your gold. Loans up to 75% of your gold value are offered.
What documents are required to apply for a gold loan in Imphal West?
You typically need identity proof (Aadhaar Card/Passport/Driver's Licence/Voter ID/PAN Card), and address proof (Aadhaar Card/Passport/Driver's Licence/Voter ID/Gas Connection Card/Water Bill/Electricity Bill/Prepaid Mobile Bill/Landline Bill).
Are there any prepayment penalties on gold loans in Imphal West?
Shriram Finance typically does not impose prepayment penalties on gold loans. This allows you to prepay your loan without incurring extra charges, potentially reducing the overall interest you pay. However, it's essential to confirm the specific terms and conditions in your loan agreement to ensure there are no prepayment penalties applicable to your loan
How can I check the status of my gold loan application in Imphal West?
After completing the registration process, representatives will evaluate your profile and revert back to you regarding your gold loan.
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.
