Interest Rates Now Starting Only at 10%*
Quick Loan Disbursal
Flexible Repayment options
No Credit Check Required
Gold Loans in Malerkotla
Malerkotla, a historically significant city located in the heart of Punjab, has a rich cultural heritage and a growing economy. For residents of this vibrant city, gold holds both cultural significance and financial value. Getting a Gold Loan in Malerkotla provides a reliable means to leverage gold assets for immediate financial needs without having to sell precious family heirlooms or investments.This loan option is especially beneficial due to its quick approval process and flexible repayment terms, making it an ideal solution for both planned expenses and unexpected financial emergencies. Unlike traditional loans that might require extensive credit checks and lengthy approval processes, gold loans offer a straightforward alternative that focuses on the value of your gold assets rather than your credit history.
Features and Benefits of Gold Loans in Malerkotla
In Malerkotla, Shriram Finance offers a Gold Loan with several attractive features:
Maximum Finance
You can secure a loan up to 75%* of your gold's current market value, ensuring substantial financial support when you need it most. This high loan to value ratio means you can access significant funds without having to pledge excessive amounts of gold jewellery or ornaments.
Minimal Documentation
The application process involves minimal paperwork compared to other loan types, ensuring a hassle free experience even for first time borrowers. This streamlined approach saves valuable time and reduces the stress typically associated with loan applications.
Flexible Tenure
Repay your loan at your convenience with a tenure ranging from 1 month to 12 months. This flexibility allows you to choose a repayment schedule that aligns perfectly with your financial situation and cash flow expectations.
Low Rate of Interest
Interest rates start from 10%*p.a., offering a cost effective borrowing option compared to many unsecured loans or credit cards. These competitive rates make gold loans an economical choice for various financial requirements.
Borrow Smartly
Pay interest only for the period you use the loan, providing exceptional flexibility in repayment and potentially reducing your overall interest burden. This feature is particularly beneficial if you expect to repay your loan before the full tenure.
Quick Approval
Enjoy fast and reliable loan approvals, often within hours, to meet your urgent financial needs. This rapid processing ensures that funds are available when you need them most, whether for a medical emergency, business opportunity, or important family event.
Gold Loan Interest Rates in Malerkotla
| 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 Malerkotla
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 Malerkotla
The straightforward Gold Loan Application Process at Shriram Finance in Malerkotla allows 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 Malerkotla
Gold Loan Customer Care in Malerkotla
Toll Free
Gold Loan Status in Malerkotla
Residents of Malerkotla can leverage Shriram Finance's Gold Loan for their financial requirements. To stay updated on your application, visit our website or reach out to our customer care team for real time information. By opting for Shriram Finance, you can enjoy a seamless financial experience tailored to meet your objectives in Malerkotla.
Gold Loan FAQs
Can I apply for a gold loan online in Malerkotla?
Yes, you can submit your application via our website or mobile app.
What is the interest rate on gold loans in Malerkotla?
The interest rate starts at 10%*p.a. The final rate may vary based on the market value of the gold used as collateral.
What is the tenure for a gold loan in Malerkotla?
You can select a loan tenure from 1 month to 12 months.
Can I get a gold loan for any type of gold in Malerkotla?
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 Malerkotla?
The loan amount is contingent upon the value of your gold. Loans up to 75% of the gold's value are available.
What documents are required to apply for a gold loan in Malerkotla?
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 Malerkotla?
Generally, prepayment penalties are not imposed. However, it is advisable to confirm the terms in your loan agreement.
How can I check the status of my gold loan application in Malerkotla?
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.
