Interest Rates Now Starting Only at 10%*
Quick Loan Disbursal
Flexible Repayment options
No Credit Check Required
Gold Loans in Korba
Need funds to expand your business, support your family, or invest in your farm in Korba? A Gold Loan in Korba from Shriram Finance offers a secure and accessible way to unlock the value of your gold jewellery and ornaments without selling them. Keep your precious gold while accessing the capital you need. Shriram Finance is dedicated to providing reliable gold loan services tailored to the needs of the Korba community.
Features and Benefits of Gold Loans in Korba
Opting for a Shriram Gold Loan in Korba unlocks a range of advantageous features:
Flexible Tenure
Repay your loan at your convenience with a tenure ranging from 1 month to 12 months. This flexibility allows borrowers to align their repayment schedule with their income patterns and financial planning. For seasonal businesses common in Korba, this adaptability proves particularly valuable during fluctuating revenue cycles.
Maximum Finance
You can secure a loan up to 75%* of your gold's market value, ensuring substantial financial support. This high loan to value ratio ensures that substantial funding is available when needed, whether for major expenses like education and medical treatments or investment opportunities in Korba's growing local economy. The valuation process employs advanced testing methods conducted by certified appraisers, ensuring fair and accurate assessment of gold purity and weight.
Low Rate of Interest
Interest rates start from 10%* p.a., offering a cost effective option. This competitive rate structure directly translates to lower monthly repayment obligations, making the loan more manageable across various income segments.
Minimal Documentation
The process involves minimal paperwork, ensuring a hassle free experience. Basic identity and address proofs are sufficient to initiate the loan process, eliminating the need for complex financial statements. This approach is particularly beneficial in Korba, where documentation limitations might otherwise restrict access to formal financial services.
Borrow Smartly
Pay interest only for the period you use the loan, providing flexibility in repayment. This smart borrowing mechanism is particularly beneficial for borrowers who anticipate early loan closure, as it eliminates unnecessary interest expenses and optimises the cost of borrowing. For farmers or seasonal businesses in Korba, this feature allows them to repay loans immediately after harvest or during peak business seasons without penalty.
Quick Approval
Enjoy fast and reliable loan approvals to meet your urgent financial needs. This quick response capability has proven invaluable for Korba residents facing urgent medical expenses, educational fee deadlines, or time sensitive business opportunities.
Gold Loan Interest Rates in Korba
| 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 Korba
Proof of Address
Aadhaar Card, Passport, Driver's License, Voter ID, Gas Connection Card, Water Bill, Electricity Bill, Prepaid Mobile Bill, or Landline Bill.
Proof of Identity
Aadhaar Card, Passport, Driver's License, Voter ID, or PAN Card (If you don't have a PAN Card, you can submit Form 60). Age: Be between 18 and 75 years old. Who can apply? Anyone who has a job, is self employed, owns a business, or other individuals.
Step by Step Application Process for Gold Loans in Korba
Getting a gold loan is easy with these 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 Korba
Gold Loan Customer Care in Korba
Toll Free
Gold Loan Status in Korba
Check your loan application status online or contact customer care. Shriram Finance is committed to supporting the financial needs of the Korba community with simple, accessible gold loans. Our online platform allows you to easily check the status of your loan application by entering your application reference number. This provides you with real time updates and ensures you are always informed about the progress of your application. If you prefer personalised assistance, you can contact our customer care team via phone. Our dedicated staff are ready to help with any queries or concerns you may have, providing you with the support you need throughout the loan process. We understand the unique financial needs of the Korba community. By choosing Shriram Finance, you can rest assured that you are working with a trusted partner committed to helping you achieve your financial goals. Let us assist you in unlocking the potential of your gold assets and providing the financial support you need.
Gold Loan FAQs
Can I apply for a gold loan online in Korba?
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 Korba?
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 Korba?
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 Korba?
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 Korba?
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 Korba?
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 Korba?
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 Korba?
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.
