Gold Loan

  |   Gold Loan
Gold Loan

With attractive schemes, easy repayment options and lowest interest rates, ANANT VIKAS MUTUAL NIDHI LIMITED, one of the leading Nidhi Companies in Kerala offers a hassle-free experience to avail gold loan.

ANANT VIKAS MUTUAL NIDHI LIMITED Gold loans may be availed for any amount between Rs.1,000 to a maximum of Rs.15 Lakhs. Loans are available for periods ranging from one month to one year. Our Gold loans do not have any lock- in-period and there are no prepayment penalties. You can repay earlier than the scheduled as you desire. Anyone who is the member and owns gold ornaments can avail the loan. (Note: Minors are not eligible.) To obtain the loan, you need to submit your gold jewellery (within the Karat range of 18 to 24 k) at your nearest MABEN branches. The loan amount will be sanctioned on the basis of gold valuation which involves verification of its purity. The weight of stones etc. fixed on the ornaments will be deducted for the intention of valuation.

Interest Rate

Our base rate of interest is 12 percent. However, depending upon how high the loan to value (LTV) is, additional interest (amounting to risk premium) ranging from 4-8 percent is charged over and above the base rate. The interest and risk premium is applicable only for the days the money was actually utilised. There are no prepayment penalties.Simple interest is charged, which the borrower has to pay at the specified periodicity or at the closure of loan, whichever is earlier. The interest rate is fixed and calculated on a reducing balance basis.

Supporting Documents

To abide by the KYC (Know Your Customer) Policy of RBI and approved KYC norms of our Company, we insist to produce one document of identity proof (Such as Ration Card with photo, Driving License, PAN Card, Voter ID card, Passport, Aaadhar Card etc.) and one document of residential address proof (Such as Telephone Bill, Electricity Bill, Water Bill, Bank account / Credit Card Statement, Municipal / Local/House Tax Bill / Receipt, Authentic Rent Receipt / Lease Document, Letter from reputed employer/ Public Authority).