Manappuram gold loan is provided by Manappuram Finance Limited. It is one of the largest loans against gold providers in India. This institution offers loans starting at 9.90% onwards to 11.75%. You can borrow between Rs. 1,000 to Rs. 1.5 crore. Repayment tenure is up to a year. Flexibility of the loan schemes at this
Manappuram gold loan is provided by Manappuram Finance Limited. It is one of the largest loans against gold providers in India. This institution offers loans starting at 9.90% onwards to 11.75%. You can borrow between Rs. 1,000 to Rs. 1.5 crore. Repayment tenure is up to a year. Flexibility of the loan schemes at this financial institution makes the gold loan a viable option for customers.
To get more details about gold loan by Manappuram Finance Limited, visit https://www.loanbaba.com/gold-loans/manappuram-gold-loan.html
Requirements for a Gold Loan
Below provided are the essentials of Manappuram Finance gold loan.
• To apply for the gold loan, you need to be over 18 years of age. Complete security is given to the gold jewellery submitted in the bank.
• The loan facility is available for any individual who owns gold jewellery. Minimum gold weight needed is 15 grams. Late payment charges will be applicable.
• For agriculture loans, the borrower has to provide proof of agricultural land or a proof for the purpose the loan amount is being demanded.
• Gold coin if any must not exceed 50 grams in weight. Gold purity must be between 18 carat and 24 carat. For gold evaluation, you need to visit the nearest branch office.
• Weight of precious gems and other valuable materials will be deducted from the actual weight of the ornament, for the purpose of gold evaluation.
• The maximum finance granted depends on the value of the gold pledged, as per the current market trends. The percentage of margin kept will be decided by the financial institution.Top of Form
Below given are the new features of Manappuram online gold loans:
- Instant Approval
Manappuram loan against gold application can be filled online within minutes. You can apply for the gold loan online and submit the soft copy of the relevant documents. In just a few minutes or hours, assuming the documentation is proper and other details you provided are accurate, you can receive loan approval. The funds would be disbursed once the gold evaluation is done.
- Quick Withdrawal of Funds
After you pledge the gold jewellery with this financial institution, no long formalities are involved regarding withdrawing of funds. You can begin spending the loan amount as per your needs and convenience as soon as the funds reach your bank account.
- No Guarantor Required
Unlike other traditional secured loans, you do not need a guarantor for a gold loan. Manappuram Finance Limited offers a loan against gold based on the value, weight, and purity of the gold. The ornaments act as security itself and this is why a guarantor is not mandatory. Maximum 75% of the gold’s value can be offered as loan. You may or may not be an existing customer of this company to avail the loan.
- No Prepayment Charges
Loan processing charge is only Rs. 10. If you repay the loan before the end of tenure, then there are no prepayment charges applicable. Unlike other banks and NBFCs that may charge a prepayment penalty, there are none when it comes to Manappuram gold loan.
- Highlights of the Gold Loan Scheme
To apply for the gold loan, you need to provide proof of identity in form of ration card/driving licence/voter ID/Passport etc. Aadhar card and PAN card are mandatory. You have to pay only the interest component every month, till the end of the tenure, after which you have to repay the principal loan amount. There are different loan schemes as per the needs of people and income groups.Bottom of Form
The above-given features of Manappuram gold loan will help you understand the loan scheme, and apply for it, when in need of monetary support.