Syndicate Bank Gold Loan

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Syndicate Bank Gold Loan

Gold loan is financial product provided by the banks to its customers. In this type of loan, you can have a loan against your gold jewelry. There is nothing to worry about even if you are not employed. The gold loan doesn’t require the customer to be salaried or self-employed. Anybody can have a gold loan if he/she has the gold of given purity. Syndicate Bank Gold Loan will take care of all the gold/jewelry, and it will return to you whenever you pay back that particular amount of loan with interest to the bank.

 

Why Gold Loan?

Gold loan is financial product provided by the banks to its customers. In this type of loan, you can have a loan against your gold jewelry. There is nothing to worry about even if you are not employed. The gold loan doesn’t require the customer to be salaried or self-employed. Anybody can have a gold loan if he/she has the gold of given purity. Bank will take care of all the gold/jewelry, and it will return to you whenever you pay back that particular amount of loan with interest to the bank.

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 the 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 miss happening. Gold loan is available at very fewer interest rates in many banks. So many nonbanking financial companies also provide you a Gold Loan, and decidedly less paperwork is required to complete these formalities.

 

Schemes

Synd Kisan Swarna-This scheme provides a gold loan to farmers for agricultural activities. Bank provides a gold loan under these schemes at comparatively low-interest rates.

Syndswarna Express Loan- This scheme of gold is for nonagricultural customers. This is a bullet repayment scheme. You can get a gold loan under this scheme for business purposes and to fulfill your personal needs as well.

 

Eligibility criteria for Syndicate Bank Gold Loan

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

Applicant should not be a minor. i.e., the age of the applicant should not be less than 18 years.

Gold in the form of jewelry or coins is accepted, but the purity of the gold should be 18 karats to 22 karats.

All the candidates who satisfy these eligibility criteria are eligible to get a gold loan.

 

Low-Interest Rates

Bank provides a gold loan at a meager rate of interest.

It is one year MCLR+1.50%

It can be varied a little bit up and down. You can return the loan within 12 years.

However, the Bank provides an amount up to 20 Lakhs maximum.

 

Uses

You can use the gold loan to fulfill your personal needs.

Applicant can start a new business by using the given amount of loan.

Farmers can use the gold loan for agricultural purposes.

Moreover, you can also use this amount of loan to get over the financial crises.

 

Documents Required for Syndicate Bank Gold Loan

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.

• Three passport size photos

• A  passport can be an ID proof •because a passport has a name, age, address, and photograph of the customer. If you have 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, and it prevents the financial frauds. So it is also considered as an identity/residence proof. Pan card is an 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 a Gold Loan.

About Syndicate Bank

Syndicate Bank is a commercial bank of India. It is a public sector bank. The bank is serving people for 93 years. Bank provides financial services like credit cards, mortgage loans, corporate banking, and financial banking, etc.  Headquarter of the Syndicate Bank is in Manipal Karnataka. Gold loan is one of the most demanding products under loans. The process is straightforward and simple.

Furthermore, you can use this amount of loan to fulfill their personal needs or to start a new business or for educational purposes. Gold loan is also known as a loan against gold. Bank provides loan for agricultural and non-agricultural uses. There are two gold loan schemes under which the bank provides a gold loan to its customers. Gold loan is easily accessible and quickly disbursed if you are eligible.

 

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.

• Our Relationship Manager will assist you as soon as possible and help you get your Gold Loan.




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