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Get gold loans in India that are best matched to your credit profile
Of Appraised Gold Value
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Tamilnad Mercantile Bank Gold Loan is offered at interest rates starting from 10.00%.
Here are the eligibility criteria for Tamilnad mercantile bank gold loan:
Additional read – Tamilnad Mercantile bank home loan eligibility
Here is the list of documents needed to apply for Tamilnad Mercantile bank gold loan:
The gold loan amount that can be availed from Tamilnad Mercantile bank are:
The gold loan offered by this bank is a short-term loan. As per RBI guidelines, the gold loan tenure is restricted to 1 year, meant for non-agricultural use. Some banks may offer gold loan tenures of up to 36 months. The bank returns the collateralized gold to the borrower after he/she repays the loan amount entirely.
Tamilnad Mercantile bank gold loan repayment depends on the bank’s decision as per borrower profile. The bank mostly permits repayment through EMIs. Borrowers can also make a bullet repayment at the end of the loan tenure. If a borrower opts for bullet repayment at the end of the loan tenure, he/she will have to pay timely interest. The principal amount can be repaid through a bullet payment at the end of the term.
Here are the details of all the charges applicable on Tamilnad Mercantile bank gold loan:
In India, most people carry an emotional attachment towards gold since it is often in the form of family jewellery. Whenever one wants to avail of a gold loan, he/she must pledge this gold as collateral which may be difficult to decide upon. However, it is important to focus on current financial needs to ease any financial burden. Some of the other factors to note are:
Here are the contact details of Tamilnad Mercantile bank for gold loan customers:
Additional read – Tamilnad Mercantile bank credit card customer care
Tamilnad Mercantile Bank Limited is a private bank in India with its headquarters in Tuticorin. The bank was founded in 1921 and today has 525 branches across the country.
It offers a range of financial services to its customers including savings deposit, fixed deposit, recurring deposit, personal loan, car loan, home loans, education loan, gold loan, PPF account, bank lockers, etc.
Avail of a gold loan from Tamilnad Mercantile bank at reasonable interest rates and flexible loan repayment to ease any financial stress with the help of the gold jewellery you may own.
1. What is the gold loan interest rate in TMB Bank?
Tamilnad Mercantile bank gold loan can be availed at an interest rate starting from 7% per annum.
2. How can I pay my TMB gold Loan Online?
To pay Tamilnad Mercantile bank gold loan online, you can login to the bank’s website using your login credentials. After going to the ‘gold loan’ section, you can select the ‘EMI payment’ option and enter the payment details before proceeding to make payment.
3. What is accepted as collateral against Tamilnad Mercantile bank gold loan?
Gold, gold ornaments or gold coins, etc. are accepted as collateral against Tamilnad Mercantile bank gold loan. This is because it can be easily liquidated in case of loan default.
4. How can I get a gold loan from Tamilnad Mercantile bank?
To get a gold loan from Tamilnad Mercantile bank, you can either apply online through the bank’s website or visit one of the bank’s branches.
5. What is the eligibility for a gold loan?
Any individual above 18 years of age and in possession of gold or gold jewellery can apply for a gold loan from Tamilnad Mercantile bank.
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