May 09 2022
It is very much easy and convenient to get a gold loan from Kosamattam Finance by availing the facility of the gold loan at your home.
How does it work?
The whole process of securing a loan against gold ornaments is similar to other loan options. With all gold loan companies in Kerala, you are required to present your gold items to a bank with the necessary documents. Then the gold loan providers scrutinize the documents and confirm the approval of the loan as per the evaluations.
Since Kosamattam Finance is people’s friendly, we have developed an App, FinKo App, that is highly user friendly and offers its services like a gold loan at home at your fingertips. With the help of this app, you can just make a request for a gold loan at home and our team would reach out to you within no time to offer you the service of a gold loan at home.
Documents required for a gold loan
The common documents include:
Who is eligible to get a gold loan?
Anyone who possesses gold can apply for a gold loan. Indian residents such as salaried professionals, businessmen, and homemakers can apply for the loan. A credit score is not at all a criterion for availing of a gold loan. Even though your credit score is low, you can get a gold loan if you own enough gold as security.
Tenure of a gold loan
Although lending institutions have different repayment periods, Kosamattam Finance Gold's loan tenure ranges from 3 to 24 months. Depending on your need, you can take longer terms or let you renew the loan to extend. Indeed, the tenure of a gold loan is much shorter than other types of loans. It is to be ensured that any default in repayment does not occur as it would result in loss of your gold.
Procedure for Gold loan repayment
Lenders determine how much you should repay for your loan. It includes both principal and interest. Normally, you will have to pay the interest each month and the principal amount at maturity. EMIs (Easy Monthly Installments) are a viable option through which you can make your repayment.
Benefits of Kosamattam Gold loan
Kosamattam Gold loan could be used to fulfill your immediate needs such as medical emergency, education, or other personal needs.
Why do people seek out gold loans?