Interest Rates Now Starting Only at 10%*
Quick Loan Disbursal
Flexible Repayment options
No Credit Check Required
Gold Loans in Wokha
Wokha, known for its agricultural prosperity and rich cultural heritage, is experiencing a growing need for accessible financial solutions. From supporting farming activities to achieving personal milestones, residents are seeking reliable options to meet their financial requirements. In recent years, gold loans have emerged as a practical solution for many families in Wokha who possess gold assets but need liquid funds for immediate requirements. This traditional form of secured lending aligns well with the cultural significance of gold in the region, where it is often passed down through generations as family heirlooms and serves as a symbol of financial security. Shriram Finance provides comprehensive gold loans in Wokha with competitive interest rates starting at 10%* per annum. Offering flexible repayment terms ranging from 1 to 12 months, Shriram Finance caters to the diverse financial requirements of the community. With a straightforward documentation process and rapid approvals, Shriram Finance has established itself as a trusted financial partner in the region.
Features and Benefits of Gold Loans in Wokha
Features of a gold loan offered by Shriram Finance are:
Maximum Finance
Borrowers can access funds up to 75%* of their gold value, ensuring they receive a substantial amount against their assets. This loan to value ratio complies with regulatory guidelines while maximising the utility of pledged gold. The valuation process employs advanced techniques to accurately determine the purity and market value of the gold, ensuring borrowers receive fair and transparent assessments.
Minimal Documentation
Understanding the challenges faced by many residents in compiling extensive paperwork, Shriram Finance has simplified the documentation process substantially. This approach is particularly beneficial for rural residents who may find complex documentation requirements intimidating. The streamlined process requires only basic identity and address verification, making financial services more inclusive.
Borrow Smartly
One of the most advantageous aspects of Shriram Finance's gold loan is the interest calculation method. Borrowers pay interest only for the specific period they utilise the loan, unlike many traditional loans that require fixed term commitments. This pay as you use system can result in significant savings for those who might be able to repay their loans earlier than anticipated for.
Quick Approval
Time is often crucial when seeking financial assistance. Recognising this, Shriram Finance implements a rapid approval system that typically processes applications within hours rather than days. This quick turnaround time is especially valuable for emergencies or time sensitive opportunities that require immediate funding.
Low Rate of Interest
With interest rates beginning at 10%* p.a., Shriram Finance offers some of the most competitive rates in the region. These rates are significantly lower than many informal lending channels that residents might otherwise turn to in times of need. Lower interest rates translate to reduced financial burden and more manageable repayment schedules for borrowers.
Flexible Tenure
The repayment flexibility offered by Shriram Finance accommodates various financial situations. While the minimum loan duration is set at 1 month, borrowers can extend their repayment period up to 12 months. This flexibility allows individuals to structure their repayments in a way that aligns with their income cycles and financial capabilities.
Gold Loan Interest Rates in Wokha
| 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 Wokha
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 Wokha
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 Wokha
Gold Loan Customer Care in Wokha
Toll Free
Gold Loan Status in Wokha
Monitor your gold loan application by visiting our website and entering your reference number. For immediate assistance, our dedicated customer support team is available to help.
Gold Loan FAQs
Can I apply for a gold loan online in Wokha?
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 Wokha?
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 Wokha?
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 Wokha?
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 Wokha?
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 Wokha?
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 Wokha?
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 Wokha?
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.
