Gold Loan
Gold Loan Features by Maximaloans
Loan in just 15 minutes: Quick approval and disbursement process.
Apply with PAN or Aadhar Card: Simplified documentation process.
Loans starting from Rs.5,000: Flexible loan amounts to suit various needs.
Multiple repayment options: Convenient repayment plans tailored to your preferences
Benefits of Gold Loan by Maximaloans
Secured Loan:
Backed by gold collateral for added security.
Quick Processing:
Fast approval and disbursement to meet urgent financial needs.
Flexible Loan Amount:
Loan amount based on the value of the pledged gold, ensuring you get the funds you need.
Instant Liquidity:
Access funds quickly without selling your gold possessions.
Lower Interest Rates:
Secured nature of the loan leads to competitive interest rates.
Versatile Use:
No restrictions on how loan funds are utilized, giving you financial flexibility.
Gold Loan Eligibility and Documents with Maximaloans
Eligibility Criteria:
Age:
Typically, borrowers should be 18 years or older.
Ownership:
You must own the gold being pledged.
Gold Quality:
The gold should meet Maximaloans's purity standards.
Identification:
Valid government-issued ID for identity verification.
Documents Required:
Identity and signature proof:
Voter ID, Passport, Aadhaar Card, Driving License, PAN Card, Employee Identity Card (in case of government employees).
Address Proof:
Rent Agreement, Bank Statement, Voter ID Card, Passport, Driving License, Utility bills (Telephone/Electricity/Water/Credit Card bill or Property tax).
Two post-dated cheques for security purposes
Passport-size photographs.
How is Gold Loan EMI Calculated?
Gold Loan EMI (Equated Monthly Installment) is calculated using the following Compound Interest formula:
EMI = Equated Monthly Installment
P = Loan Against Property principal amount
r = Monthly interest rate
n = Loan Against Property tenure in months
EMI = [P * r * (1 + r)^n] / [(1 + r)^n - 1]
Where:
Fees and Charges for Gold Loan
Loan processing fees, stamp duty charges, legal fees, and other charges vary based on the lender and case specifics. Refer to our fee structure for more information.
Gold Loan Reviews
I visited Maximaloans's Andheri East branch, and the staff there were incredibly friendly. They swiftly approved my gold loan within a couple of hours. The interest rates offered were very competitive, akin to government regulations. Their service was prompt and satisfactory. Overall, I had a positive experience.
Sneha Patel
Maximaloans facilitated the process of obtaining an instant gold loan seamlessly. With all my KYC documents in order, I visited HDFC Bank to pledge my gold and received instant disbursal. I'm highly impressed by Maximaloans's efficiency. I secured the loan at a mere 3% interest rate, with the caveat that the gold pledged must be of 18 carats or higher.
Rajesh Kumar
Through Maximaloans, I availed a gold loan from HDFC at a competitive 4% interest rate. They provided an acknowledgment card with comprehensive payment details, and I appreciate the SMS alerts for timely reminders of renewal. I have the flexibility to make complete payments annually or opt for renewal by paying the interest rate.
Neha Sharma
Maximaloans was instrumental in securing an instant gold loan for me. With all necessary KYC documents, I visited HDFC Bank to pledge my gold and received immediate disbursal. Maximaloans's efficiency is commendable, and I secured the loan at an attractive 3% interest rate. It's worth noting that the gold pledged must be of 18 carats or higher.
Rahul Singh
Maximaloans facilitated the process of obtaining an instant gold loan seamlessly. With all my KYC documents in order, I visited HDFC Bank to pledge my gold and received instant disbursal. I'm highly impressed by Maximaloans's efficiency. I secured the loan at a mere 3% interest rate, with the caveat that the gold pledged must be of 18 carats or higher.
Rajesh Kumar
I visited Maximaloans's Andheri East branch, and the staff there were incredibly friendly. They swiftly approved my gold loan within a couple of hours. The interest rates offered were very competitive, akin to government regulations. Their service was prompt and satisfactory. Overall, I had a positive experience.
Sneha Patel
Maximaloans was instrumental in securing an instant gold loan for me. With all necessary KYC documents, I visited HDFC Bank to pledge my gold and received immediate disbursal. Maximaloans's efficiency is commendable, and I secured the loan at an attractive 3% interest rate. It's worth noting that the gold pledged must be of 18 carats or higher.
Rahul Singh
Through Maximaloans, I availed a gold loan from HDFC at a competitive 4% interest rate. They provided an acknowledgment card with comprehensive payment details, and I appreciate the SMS alerts for timely reminders of renewal. I have the flexibility to make complete payments annually or opt for renewal by paying the interest rate.
Neha Sharma
FAQs about Gold Loan with Maximaloans
A gold loan with Maximaloans is a type of secured loan where gold jewelry or ornaments are utilized as collateral. The loan amount is determined based on the market value of the gold provided as security. Gold loans with Maximaloans are typically short-term, offering a quick disbursal process, and are commonly utilized for addressing immediate financial needs.
The maximum loan amount you can obtain with Maximaloans for a gold loan depends on several factors, including the purity and weight of the gold provided as collateral, Maximaloans's policies, and the prevailing market value of gold. Generally, Maximaloans offers loans ranging from 60% to 80% of the value of the gold ornaments pledged as collateral. However, the specific loan amount offered to you will be determined by the terms and conditions set by Maximaloans.
During a gold loan application with Maximaloans, the lender evaluates the purity and weight of the gold jewelry or ornaments you intend to pledge as collateral. This process involves testing the purity, weighing the gold, and calculating the maximum loan amount you are eligible for based on the value of the gold. Once the valuation is agreed upon, you will sign the loan agreement, and LoanX will disburse the loan amount to you.
After repaying your gold loan with Maximaloans, you can retrieve your gold by submitting a request to the lender. LoanX will verify that the loan has been fully repaid and then return your gold jewelry or ornaments to you.
Yes, there are differences between a gold loan and a personal loan with Maximaloans. A gold loan with Maximaloans is a secured loan where you pledge gold as collateral, whereas a personal loan is an unsecured loan that does not require collateral. Interest rates for gold loans with Maximaloans are typically lower than personal loans due to the collateral involved. Additionally, the loan amount for a gold loan with Maximaloans is determined by the value of the gold pledged, whereas a personal loan amount is based on your creditworthiness. The repayment periods may also differ, with gold loans often having shorter terms than personal loans.