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Gold Loan in Salem 2022

Apply for Gold loan in Salem

Last Updated 24th Jan 2022

  • Gold loan interest rate in Salem starts at 9.00%.
  • The LTV ratio for gold loans goes up to 75% of the value of the gold.
  • You can avail a gold loan in Salem from top Banks like SBI, Axis Bank, Yes Bank, PNB and ICICI Bank among others.
  • Best Gold Loans in Salem are offered by Muthoot and Manapurram.
  • Apply for Instant Gold Loan online in Salem without income proof.
Apply for Gold Loan @ 9.00%* Get upto ₹ 500* Cashback
Salem

Gold Loan in Salem

Gold loan is a popular credit facility in Salem. There are many gold loan companies in Salem that offer gold loans at affordable interest rates. The loan is availed by keeping the gold as mortgage to borrow a loan amount as per the LTV ratio of the gold which ranges up to 75% as per RBI Guidelines. Gold loan interest rate in Salem begins from 9.00%.

Documents Required for Gold Loan in Salem

Gold loans are the easiest to avail credit facility in Salem. This is because the loan can be borrowed by people from all occupations and backgrounds. Therefore, the document check is also limited to identity and address proofs.

A list of documents required to avail a gold loan in Salem are mentioned as follows:

  • Gold loan application form
  • Passport size photographs
  • Identity proofs such as Passport, voter ID card, PAN card and Aadhar card
  • Address proof such as passport, driving license, aadhar card, rent agreement, Voter iD card and utility bills such as water electricity, gas, or telephone bill

Top Banks Offers Jewel Loan in Salem

Bank Interest Rate Loan Tenure Maximum Loan Amount
Axis Bank13.50%24 months₹ 20 Lakh
ICICI Bank10.00%12 months₹ 10 Lakh
IndusInd Bank10.00%24 months₹ 10 Lakh
Yes Bank9.99%36 months₹ 10 Lakh
PNB7.25%12 months₹ 10 Lakh
SBI7.50%36 months₹ 50 Lakh
HDFC Bank9.00%24 months₹ 10 Lakh
Federal Bank8.50%12 months₹ 75 Lakh
Andhra Bank7.25%12 months₹ 2 Cr
Canara Bank7.35%12 months₹ 20 Lakh

About Salem

Salem also called the Mango city of India is in Tamil Nadu state. The city is a geologists paradise which is ,surrounded by hills and the landscape dotted with hillocks. Population: 1,102,000

Reasons to Apply for Gold Loan

Gold loan to starting or growing a business

You can now easily expand your business in Salem with the help of gold loan. Gold loan is avaialble at lower interest rate of % and you can repay the loan with flexible repayment option.

Gold loan for Emergency

Emergency can arrive at anytime in our life so to meet those expenses you can take gold loan, if you do not have the funds. Avail the loan in Salem by submitting the minimal documents like identity proof and address proof.

FAQs

What is the interest rate for gold loan Salem?

Gold loan interest rate in Salem varies across various gold loan lenders. However, currently, the lowest gold loan interest rate in Salem is 9.00%.

Which bank is best for gold loan Salem?

Currently, Axis Bank offers the lowest gold loan interest rate in Salem of 9.00%. In addition to that, Axis Bank offers the maximum loan amount on Axis Bank gold loan of ₹ 2 Cr and can be the best bank for high-value loan requirements.

What is the maximum tenure for gold loan in Salem?

You can get a loan against gold in Salem for a maximum tenure of 36 months. However, the gold loan tenure for every lender is different.

What is the procedure of getting a gold loan for defaulters in Salem?

The procedure to avail a gold loan is easy when compared to other types of loan, even for defaulters. Lenders do not check your credit score because anyway in gold loan your gold is mortgaged. If you will not repay the loan then your gold will be kept by the bank.

Who can apply for a loan against gold in Salem?

The eligibility criteria for a loan against gold in Salem may vary for every lender. The general criteria is, you should be above 18 years and have gold jewellery above 18 karat.

Is it safe to take a gold loan from Muthoot Finance Salem and what are the timings and contact number of Muthoot Finance Salem?

Yes, it is safe to take a gold loan from Muthoot Finance Salem because it has A+ rating from CRISIL. You can visit the nearest branch anytime between 9:30 am to 6 pm or contact at 1800-102-1616.

Is it possible to get an instant gold loan from Manappuram gold loan in Salem?

Yes, you can take an instant gold loan from Manappuram. You can avail Manappuram gold loan with minimal documentation. Also, you get free insurance for your gold from this bank.

What are the best gold loan companies in Salem?

Axis Bank, HDFC Bank are the best companies for gold loan in Salem. These lenders offer loans at a lowest interest rate of 9.00% respectively.


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