How can you purchase your vehicle by availing of a gold loan and understand the documents required for a gold loan.
If you have been waiting for too long to buy your dream bike or your first family car, then your wait is over. If you fear whether your vehicle loan would get sanctioned or not, then here’s a pro-tip. You can use your gold ornaments, jewellery or other gold belongings to finance your vehicle. You read that right! You do not need to worry about your eligibility for a vehicle loan and hefty interest rates, with a gold loan taking care of all of it.
How can gold loans be used to buy vehicles?
Gold loan is the financing facility that can be availed by the borrowers by pledging their gold articles as security. They can be instantly availed, and the banks and financing institutions readily provide loans against gold due to the premium value that gold carries. Usually, banks finance 75%-85% of the gold value as loans to the borrowers.
Therefore, if you are looking towards purchasing your vehicle, then you can instantly make payment for the same using the gold underlying with you. This can also help you negotiate discounts with automobile dealers for instant and upfront payment.
Benefits of Gold Loans
Gold loans offer certain advantages to their borrowers. These include the following:
- Affordable interest rates: Gold loans can help you get the required funds at the most affordable interest rates. At Basant Finance Gold Loan, the interest rates start with just 0.79% per month.
- Shorter tenures: Shorter tenures ensure faster settlement of loans, thereby freeing your cash flows. Usually, the tenure for gold loans is around 6 months.
- Instant processing: As gold has inherent premium value, banks readily accept gold as security for financing loans. As the formalities are less, the sanctioning and disbursement are done swiftly.
What does Basant Finance Gold Loan offer?
To enrich the financing experience of the borrowers, Basant India Ltd provides certain benefits that make it stand out from the rest of the lenders. The whole process from loan application to repayment is structured in a unique manner. It includes:
- Personalised Loan Advisor: You do not need to worry about the procedure as Basant Finance Gold Loan provides a loan advisor to the borrowers to guide them through various schemes and make the entire process smooth and hassle-free. You just need to visit the Basant Finance Gold Loan website and click on “Apply Now”.
- Doorstep service: Here comes the interesting part. You can avail of the gold loan by just sitting at your home. Here, Basant India Ltd provides a home visit facility where the loan manager comes to your doorstep to process your loan application. It will just take 30 minutes to process your application. Gold is valued at the latest rate at your home itself. Thus, gone are the days when you had to visit the bank carrying the gold and complete all the formalities, taking hours to process.
- Instant transfer: Once the application is processed, the money gets transferred to your bank account instantly, thus, making the entire process seamless and swift.
- Secure storage: After the money is transferred into your account, your gold ornaments are packed in front of you. These are taken by the loan manager and deposited in the safe lockers. The entire responsibility of your gold, once it leaves your house, is upon Basant India Ltd.
Documents required for the gold loan
The following documents are required to be submitted directly to the loan manager visiting your house:
- Your Photograph
- Identification Proofs (Any one of the following): Aadhaar card, Voter ID card, Driving license, etc.
- Address Proofs (Any one of the following): Aadhaar Card, Driving License, Voter ID card, Passport, Utility Bill, Rent or lease agreement, etc.
- PAN card or Form 60
- Pledge card of your existing gold loan and details of ornaments pledged (in case of transfer of your existing gold loan to Basant Finance Gold loan.
Vehicle loans usually require more documentation like income proof and business or salary proof. Apart from that, its eligibility criteria include minimum income criteria, number of years of work experience criteria, and age criteria as well which are all relaxed in the gold loans. Thus, the documents required for gold loans are fewer as compared to the vehicle loan, making vehicle purchase smooth and easy with a hassle-free process.
Bottom Line
You have been excited for a long time to purchase your vehicle, however, stressed with the hefty process of vehicle loan and its formalities. This is where the gold loan comes to your rescue—no need to postpone your dream again till you meet the eligibility criteria. With just book an appointment, instantly secure a gold loan and buy your dream vehicle now.
We are providing the best prices for flights, Book you best hotels, and Cheapest Car on Rent.
For more information click here.USA is a spot that offers fervor and magnificence while simultaneously being fascinating.
These functions admirably for individuals who need to accomplish something else from the commonplace white sand sea shores generally connected with get-away travel.
This article will zero in on the wide range of strategies that are accessible to get modest trips to the nation of USA.Find cheapest Flight deal USA is an exceptionally delightful nation and numerous individuals are spellbound of what it has to bring to the table.
It is situated in USA, yet in addition fringes the Caribbean Sea.
The most ideal approach to arrive is by finding modest flights utilizing the different travel sites.
Let us look at some genuine reasons for which businesspersons and tourists prefer to rent a luxury car in Dubai.
They are as follows: https://yarabook.com/read-blog/43058_transform-your-vacation-by-availing-dubai-luxury-car-rental-service.html
https://rupeek.com/blog/things-to-know-about-gold-loan-renewal/If you have repaid your loan amount in full along with the interest, you can take out another gold loan with the same lender, pledging the same gold assets.
Want to get tips for a good choice of professional development training compatible with your needs.
Then Mastery Mind is the best platform for you.
We provide you the personal development training for the skills acquired, you must take into account your status, your needs, the formula to choose, the training establishment, and the cost.
