Suvarna Kavach Gold Loan
Your Gold – Your Money – Your Way.
Suvarna Kavach Gold Loan
Master Urban Nidhi is your partner for Gold loans with your financial security in mind.
Master Urban Nidhi is your partner for
Gold loans with your financial security in mind.
At Master Urban Nidhi Limited, we have developed a Gold Loan mechanism that is tailored for you. With us, you can utilize your existing gold assets without having to forfeit them to jewelers and other third parties in order to avail of loans at attractive interest rates.
The jewellery shall be returned upon loan repayment and can also be reused if the need should arise in the future. Gold loans enable thousands of people in mobilizing their personal assets, which otherwise rarely get utilized. Let your gold usher in the golden age in your life!
Features and Benefits
- Simple procedure, minimal documentation and quick approval.
- Quick, short response-times provide an increased level of customer service.
- Easy payment options.
- Smooth, tension-free processing of loan.
- ATL-Any Time Liquidity.
Suvrna Kavach Gold Loan
| Period | Gold Loan Scheme | ||
|---|---|---|---|
| Months | Min. Loan Amount | Max. Loan Amount | Rate of Interest%* |
| 12 | Rs. 40,000 | Rs. 2,00,000 | 13% |
| *Min. Gold 10gm & above. *Processing Fees Min. Rs.1000 | |||
*Interest Rates are Annual. *Terms and Conditions Apply.
Terms & Conditions
- Availed for a Gold Loan amount between Rs. 40,000 and not exceeding Rs.2,00,000.
- Gold Security: 22/24 Carat gold can be pledged.
- Margin for 22 carat gold-20% & Margin for 24 carat gold-10%.
- The valuation of gold ornaments will be done by Master Urban Nidhi via an authorized valuer. The valuation cost will then be borrowed by the borrower.
- The loan interest will be paid in advance on a monthly basis.
- In case of non-payment of interest for 3 months, the pledged Gold ornaments will be sold by Master Urban Nidhi. The outstanding + overdue amounts as well as auction charges shall be recovered in this manner. The balance amount will be transferred to the customer via RTGS.
- Nomination Facility is compulsory.
- Overdue interest for non-payment of Interest & Instalments will be 2%, levied on the amount overdue.
Documents Required
- To abide by RBI’s KYC (Know Your Customer) Policy and the approved KYC norms of our Company, the customer must produce one document that serves as identity proof. You can use: a Ration Card with a valid photo, Driving License, PAN Card, Voter ID card, Passport, Aadhaar Card. Additionally, the customer must also submit one document that provides their 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). There are no end-use restrictions for gold loans.
- Two full-colour photographs of gold ornaments are required.
- Two full-colour, current photographs of the borrower and their ID proof are required.
- Once you submit your application form, the demand Promissory Note and supporting documents, approval takes a matter of minutes provided everything is in order.
- The rate of interest will be @1.5 to 2.5% per month.
- No-Interest Partial Payment and advance interest payment available.
- Nomination Facility is compulsory.
- The valuation of the gold ornaments will be done by Master Urban Nidhi through authorized value. The cost of valuation will be executed by the borrower.
- The loan interest will be paid on a monthly basis.
- The borrower has to provide an affidavit declaring the ownership of the ornaments.
- In the event that the borrower does not pay the interest in a timely fashion, a penalty of 5% has to be paid with the next interest installment.