Manappuram Gold Loan

What is Gold Loan?

Gold Loan is offered by the gold jewelry of the client as promise or pledge. The Personal Loan .  With no doubt gold loan is, similar to personal, are generally utilized for less duration household needs. Loan against the loan is snappy and bother free finance alternative which holds less documentation procedure. So instead that gold adornments, coins, and bricks lying in your safe, you could use them so you can meet those money possibilities.

About Manappuram

Manappuram Finance Ltd or MAFIL is a non-banking financial company (NBFC) situated in Valapad, Thrissur, Kerala state. It was founded in 1949 by late V.C.Padmanabhan in Thrissur District. The company was the First NBFC in Kerala to receive a Certificate of Registration issued by the RBI. The company was also the first NBFC from Kerala to issue bonus shares in the ratio of 1:1 in 2007 and then, repeat the feat twice, in 2010 as well as in 2011. 

Features

• Know your Gold Loan eligibility in 1 minute, available online and across all branches.
• Highly competitive interest rates for Gold Loans.
• Special offers, interest rates and nominal charges for account holders.
• Special Gold Loan offers* for womens.
• ROI for tenure less than 1 year is available at 1%.
• Generally gold loan is available at the interest rate of 10.0% to 14.5%.
• In rural areas Agricultural loan against gold is also available for agriculturist at very nominal rate of Interest of 7%-8%. 
• People choose gold loan 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.

Benefits

• Simple documentation
• Competitive pricing
• Gold Loan disbursal in just 30 minutes*
• Transparent procedure
• Gold Loans available for various needs.

Documentation For Gold Loan

Minimal paperwork. This loan is not valid for Gold Biscuits and Mangalsutra.

• Proof of identity: Copy of passport/voter ID card/driving license
• Proof of address: Copy of ration card/telephone or electricity bill/rental agreement/passport
• Passport size photographs.

Eligibility Criteria For Gold Loan

Any individual who’ve got gold can apply for Manappuram gold loan. Keeping in mind the end goal to get the loan endorsed, a candidate needs to present their gold which holds the range of 18 to 24 carats. The loan sum that will be given will be depending on the gold’s valuation; the lender will check the current value of your gold. 

NOTE: Minors are not eligible

Know about the terms and conditions:

• • Foreclosure Charges- If you complete the loan before 
  • The charges can be up to 1%.The minimum loan tenure is 6 Months. Foreclosure charges after 6 months will be nil.
  • Charges for late payment of Loan Amount.
  • 2% p.a. as penal interest over and above the applicable rate of interest.