Interest Rates Now Starting Only at 10%*
Quick Loan Disbursal
Flexible Repayment options
No Credit Check Required
Gold Loans in Mohali
In Mohali, a thriving city in Punjab renowned for its rich cultural heritage and robust economic growth, residents are increasingly turning to gold loans as a practical financial solution. The deep rooted tradition of gold ownership in Indian households makes gold loans a natural choice for meeting urgent financial needs without having to sell precious family assets. Whether it's funding higher education for children, managing unexpected medical expenses, or supporting local business expansions, secured gold loans in Mohali provide a reliable and accessible financial solution for the community. Gold loans have gained popularity in Mohali due to their straightforward application process and minimal eligibility requirements compared to traditional unsecured loans. For many families, these loans represent a way to leverage dormant assets during financial constraints while maintaining ownership of their precious metals in the long term. Shriram Finance extends its gold loan services to Mohali residents with competitive interest rates starting from 10%* p.a. Shriram Finance offers flexible tenure options ranging from 1 to 12 months, demonstrating a deep understanding of local financial requirements. Shriram Finance's transparent process and quick approval make it a trusted choice for those seeking to leverage their gold assets effectively.
Features and Benefits of Gold Loans in Mohali
Shriram Gold Loans present a range of attractive features and benefits:
Maximum Finance
Gold loans are offered for loan amounts of up to 75% of the current market value of the gold pledged as collateral or security, providing substantial liquidity while adhering to regulatory guidelines.
Minimal Documentation
The streamlined process involves significantly less paperwork compared to traditional loans and is completely hassle free. This approach acknowledges the value of time for busy professionals and business owners in Mohali's fast paced environment.
Borrow Smartly
Pay interest only for the period the gold loan is actually used for, giving you complete control over your finances. This feature is particularly beneficial for business owners with seasonal cash flow fluctuations common in Punjab's diverse economy.
Quick Approval
Enjoy reliable and faster loan approvals with minimal documentation requirements. Many applicants receive approvals within hours rather than days, allowing them to address urgent financial needs promptly.
Low Rate of Interest
Competitive interest rates starting from 10%* p.a., making gold loans more economical than many unsecured loan options available in the market. This translates to significant savings over the loan tenure.
Flexible Tenure
Pay your loan back whenever you want within the agreed timeframe, with a minimum loan duration of just 1 month. The loan tenure ranges from 1 month to 12 months, accommodating both short term cash crunches and longer financial planning needs.
Gold Loan Interest Rates in Mohali
| 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 Mohali
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). Who can apply?: Salaried, self employed, self employed professionals, business owners, and other individuals. Age: 18 to 75* years.
Step by Step Application Process for Gold Loans in Mohali
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 Mohali
Gold Loan Customer Care in Mohali
Toll Free
Gold Loan Status in Mohali
Monitor the progress of your gold loan application by visiting our website using your reference number. Our customer care team is readily available to provide immediate updates on your application. By selecting Shriram Finance in Mohali, you are partnering with a reputable financial institution committed to your success.
Gold Loan FAQs
Can I apply for a gold loan online in Mohali?
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 Mohali?
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 Mohali?
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 Mohali?
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 Mohali?
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 Mohali?
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 Mohali?
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 Mohali?
After completing the registration process, representatives will evaluate your profile and revert 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.
