Facts about Gold Loans It can be easier to get a gold loan without a bill than to even get a personal finance. It is because a personal mortgage is unsecured, unlike the loan on jewellery. If you have a low credit score, you can quickly get a jewellery credit without a bill since it is a secured finance.
Does gold loan require bill?
✅What are the requirements for a gold loan? To avail of a gold loan, you will need to submit the essential documents such as PAN card/ passport/ Aadhaar card/ voter id card and utility bills for identity and address proof.
What are the key features of gold loan?
Key Features of a Gold Loan Some of the main characteristics of gold loan are: Short processing time ranging from 1 to 3 hours, as it is a secured loan. No salary proof is required at present. Minimum documentation required: Government-issued IDs such as Driving License and PAN card.
Why is gold loan important?
A Gold Loan can enable you to tide over unexpected financial setbacks, but it is vital to approach a lender that is governed by the RBI, such as HDFC Bank. Apply for Gold Loan today and fulfil your financial needs on your own like business needs, unexpected expenses, or bill payments.
Why gold coins are not accepted for gold loan?
Being unaware of the form of gold that qualifies for the gold loan: Ornaments tend to have more sentimental value, which may motivate borrowers to repay loan amount on time. Therefore, in India, creditors prefer to take gold ornaments as collateral. Banks neither accept gold bars nor gold bullion for gold loan.