Pallavan Grama Bank offers a reliable gold loan service catering to the financial needs of a broad clientele. Their lower interest rates ensure affordability and flexibility for borrowers seeking immediate financial assistance. 

The gold loan process is simple, adding convenience and allowing applications to be processed within 30 minutes to a few hours. They provide quick access to funds. Customers can trust Pallavan Grama Bank for the safety and security of their pledged gold. It is stored in secured vaults. 

Gold loan schemes Pallavan Grama Bank offers a smooth borrowing experience with no prepayment charges. This is the perfect choice for people seeking immediate financial support.

Why choose Pallavan Grama Bank gold loan? 

Pallavan Grama Bank Gold Loan offers many benefits to its customers. This makes it a perfect choice for those seeking financial support.

Quick Processing

Pallavan Grama Bank ensures a fast loan approval process. This lets customers access funds quickly when they need it the most. The application process is simple. The loans can be processed within a few hours. This makes it a great option for urgent financial needs.

Interest Rates

A notable feature of Pallavan Grama Bank Gold Loan is its competitive interest rates. It is starting at just 7.25 percent per annum. This affordability makes it easier for borrowers to manage Gold loan repayments. It also reduces the total cost of borrowing.

High Loan Amounts

Customers can borrow nearly 50 lakh. This makes it suitable for both small and large financial needs. Pallavan Grama Bank can provide the funds you require for any kind of your needs.

Loan to Value Ratio

The Loan to Value ratio is nearly 75 percent. Pallavan Grama Bank allows customers to borrow an amount against the value of their gold. This ensures you can get the most out of your pledged assets.

Secure Storage

Pallavan Grama Bank prioritizes the safety of your gold. They store it in secure vaults with high security measures. You can rest assured that your valuable assets are protected throughout the loan tenure.

No Hidden Charges

The bank maintains transparency in its fee structure. There are no hidden charges. The processing fee is 0.75% of the principal loan amount. You don’t need to worry about any additional costs.

Repayment Options

Pallavan Grama Bank offers multiple repayment options. It may include the Bullet Payment Scheme and Overdraft Scheme. This lets customers choose the best plan for their financial situation. There are no prepayment charges after three months, offering flexibility in loan closure.

Who can opt for a Pallavan Grama Gold loan?

Applicants must meet certain criteria to ensure a smooth Gold loan application process. The bank has simple eligibility requirements. This makes it accessible for various customers.

Eligibility Criteria:

Age – Applicants must be 18 years old and not older than 70 years. This ensures borrowers are legally capable of entering into a loan agreement. They should have the financial capability to repay the loan.

Ownership of Gold – Applicants must own gold ornaments to pledge as collateral. The bank accepts gold jewelry with a purity of 18 to 24 carats.

Residency – Indian residents and NRIs are eligible to apply for a gold loan with Pallavan Grama Bank. This inclusivity lets more people enjoy the Gold loan benefits.

Income Proof – Pallavan Grama Bank does not require extensive income proof or credit history. The loan amount is determined based on the value of the gold pledged. This makes it accessible even to those with limited credit history.

Documentation – Applicants need to provide basic identification and address proof.

Those who meet these Gold loan eligibility criteria can access Pallavan Grama Bank gold loan services quickly. They use their gold assets to secure financial assistance. 

Pallavan Grama Bank gold loan documents required 

Applicants should have the necessary Gold loan documentation ready to ensure a smooth approval process. So, what do you need to submit? 

Identity Proof

Applicants must provide a government issued ID to verify their identity. Acceptable forms of identification include an Aadhar card or PAN card. You can submit your voter ID or driver license too.

Address Proof 

Borrowers need to submit proof of address to confirm residency. Utility bill and rental agreement are usually required for an address proof. Aadhaar card can be used for this purpose.

Photographs

Recent passport sized photographs are usually required as part of the application process.

Gold Ownership Proof

It is not always required. Having proof of purchase or ownership of the gold can be beneficial during the appraisal process.

Income Proof

These are not mandatory for gold loans. But providing income proof can help demonstrate repayment capability. It might enhance the loan terms.

Applicants can ensure a smooth application process and expedite loan approval with these documents ready. 

Application process

The Pallavan Grama Bank gold loan application process is so simple. This provides customers with quick access to funds. 

Visiting the nearest Pallavan Grama Bank branch. You can locate a branch using their official website. Else you can contact customer service for assistance.

Speak with a bank representative. They will guide you through the application process and provide information about loan terms and interest rates.

Provide the necessary documentation. The documents are important for verifying your eligibility for the loan.

The bank will evaluate the gold you wish to pledge as collateral. The loan amount will be determined based on the gold purity and market value.

Fill out the gold loan application form with proper details. Double check all the information to avoid any errors.

Once the appraisal is complete and the application is verified, the bank will approve the loan. The funds are typically dispersed quickly within the same day. This ensures you have immediate access to the money you need.

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Pallavan gold loan overview 

Here is a table summarizing the features of Pallavan Grama Bank Gold Loan:

Feature	Description
Gold Loan Interest Rate	7.25% per annum
Gold Loan Rate Per Gram	Rupees 3800 to 4350
Gold loan Processing Fee	0.75% of the principal loan amount
Maximum Loan Amount	50 lakh
Loan to Value Ratio	75%
Prepayment Charges	2% + GST within 3 months. 0% after 3 months.
Repayment Tenure	36 months
Repayment Scheme	Bullet Payment Scheme and Overdraft Scheme

To conclude 

Pallavan Grama Bank Gold Loan offers a quick and accessible financial solution for those in need of funds. Pallavan Grama Bank gold loan interest rates and a simple application process make it stand out as a reliable choice for utilizing your gold assets to meet various financial needs.

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