Kotak Mahindra Bank Gold Loan

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Kotak Mahindra Bank Gold Loan

Kotak Mahindra Bank is a private sector bank of India. This bank has a license given by RBI and this bank is founded in February 2003. It is a 2nd private bank in the public sector in India. It serves so many financial products to people like banking, home loan, personal loan, gold loan, credit cards etc. Gold loan is the one of the best financial product given by the bank. Gold loan is easily accessible with less documentation and without waiting for a long time. There are no security and trust issues too because the bank is well reputed and takes care of all the assets of the customer.

 

Why Gold Loan

Gold Loan is useful in many essences but most important is that your gold will be at the safest place. The bank takes full guaranty of your gold. Even if you want to put your gold in bank lockers safely and securely then you have to pay to the bank for it but bank provides you locker only not security. So it’s better to get a Gold Loan, you will get money and security at the same time. Bank will be responsible for any kind of miss happening. Gold loan is available at very fewer interest rates in many banks. So many nonbanking financial companies also provide you with a Gold Loan, and very less paperwork is required to complete these formalities.

Another reason to go for a gold loan is that sometimes customers are not eligible to get other loans like a personal loan or a home loan or any kind of business loan, because of their bad credit history or any other reasons. So gold loan doesn’t require that much of formalities. you can easily get a Kotak Mahindra Bank of India Gold Loan if you have gold.

 

Advantages of Kotak Mahindra Bank

Kotak Mahindra Bank provides the gold loan to the customers. Though Kotak Mahindra Bank is very reliable and trustworthy financial organization in India, it is not only Kotak Mahindra Bank that provides gold loan there are so many other banks that are prone to give this facility then why one should go for Kotak Mahindra Bank only.

Bank has a good reputation among people. Gold loan interest rates in Kotak Mahindra Bank are very low. Bank takes care of all the needs of the customers. Time for the disbursal is very small. Very less documentation is required to apply for the loan. There is no need for the guarantor to get a gold loan from Kotak Mahindra Bank. Because the amount of the rate also depends on the purity of the gold. Your gold ornaments will be assessed by specialist jewelers.

 

Low-Interest Rates

• Interest rates offered by the bank to the customers are comparatively very low. It starts at 10.5% and can be up to 17%.

• It can be varied a little bit up and down.

• The amount of loan  – 10000 to 10 lakh.

• Time to return gold loan is 12 months for Ornament Scheme Gold Loan and it is 30 months for Term Loan Gold Loan.

• Processing fees are 2% of the loan amount. Prepayment charges are 2% to 4%.

 

Eligibility criteria

There are some conditions that the applicant should fulfill to get a gold loan. These are written below

• Age of the applicant should be more than 18 years.

• Applicant should have gold in the form of coins/ jewelry/bricks. But the purity of the gold should be 18 karats to 22 karats.

 

 

Documents Required

For Kotak Mahindra Bank customer

Recent identity proof. It can be any of (Aadhar card, Pan Card, Voter ID card, Driving Licence, Passport )

For non-Kotak customer

The process of documentation is very easy and simple.

Identity proof (Passport/Id card/voter card/driving license) can be any one of them. Everyone easily has these documents so there is no problem with the submission.

• 3 passport size photos

• A passport can also be an ID proof because a passport has a name, age, address and photograph of the customer. If you are having a passport then there is no need to bring your address proof separately. But the passport should not be expired.

• Residence proof can be Aadhar card, voter card, and passport (Passport/Id card/voter card/driving license). 

•  Electricity and water bill for the last three months because these are the proofs that you are residing in that particular place.

• Driving license is also regarded as a proof of identity and residence proof because it contains the name, date of birth and a photograph of the customer. But the condition is that it should not be expired.

• Aadhar card provided by UIDAI that contains biometric details of the customers like age date of birth and photograph of the individual.

• PAN card is the permanent account number that is provided to the customers and it prevents from the financial frauds. So it is also considered as an identity/residence proof. Pan card is very essential document under KYC (know your customer) formality.

• Ration card is also considered as a residence proof because it provides enough information about the applicant.

• A signature proof is also required to get Kotak Mahindra bank gold loan.

Why lendingwale.com

Why we are suggesting applying for the Kotak Mahindra Bank of India Gold Loan by using lendingwale.com over other sites. Lendingwale.com knows the value of your precious time. You will get so many perks if you apply by using this site. Here are some of them are given

• If you apply for the Gold Loan from lendingwale.com you will be entertained by so many benefits.

• You just have to fill the Kotak Mahindra Bank Gold Loan form and you will get a call from our side automatically.

• Besides that, you may get some more concessions on the interest rates.

• Therefore there is no need to go to the bank.

• Even more, documents pick up facility from your doorstep is available.

• You don’t need to go here and there to ask for interest rate or to get to know about EMI ’s. All you need is to apply on lendingwale.com and you will get back a call back within a few minutes with all the information. So Gold Loan is only one step away from you.



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How to apply on lendingwale.com

Steps to apply

• Search for lendingwale.com on google.

• A form will open up.

• Fill the form with the required information.

• You will get further information.

• For more help, you can call on 60011600