PNB Gold Loan in Tamil Nadu

The loan that is given against gold, is known as Gold Loan. This includes the gold ornaments of the borrower excluding the diamond articles and mangal sutra. The borrower keeps his gold ornaments as collateral with the lender and takes the money against those ornaments.. Many go for the fulfillment of their short term goal through gold loans, such as their child’s education, marriage or other family problems. Many think that instead of keeping it idle at home or in a locker, the gold loan is the best option.

 
Advantages of taking Gold loan:-

• Easy and Hassel-free Process
• Approval in 30 minutes
• Simple Documentation
• Dedicated Assistance
• No salary certificate or credit card history is required
• Lowest Interest Rate

• Generally gold loan is available at the interest rate of 11.5% to 14.5%
• ROI for tenure less than 1 year is also available at 1%
• Processing fees equals to 2000
• Borrower will be given an option to pay only interest during the entire term and at the end of the tenure, you can pay complete borrowed amount in a single shot

Check Your Eligibility:

• Age: 21 years and above
• Profession: Anybody with Steady source of income including: Bank’s Employees, Pensioners

Documents

• Identity Proof (Passport Copy/ Voters ID card/ PAN Card/Aadhaar Card).
• Address proof(Passport/ Electricity Bill/Telephone bill/ Aadhaar Card).
• Signature proof ( Passport/ PAN Card/Banker’s verification/ cheque).
• 2 passport size photographs

Know about the terms and conditions:

• Foreclosure Charges- charges that are to be paid when the loan is closed before the tenure is completed.
• foreclosure charges can be up to 1%.The minimum loan tenure is 6 Months.
• So foreclosure charges after 6 months are 0.
• Charges for late payment of loan Amount
• 2% p.a. as penal interest over and above the applicable rate of interest.