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What is the eligibility criteria for gold loan
Gold jewellery or coins may be held or owned to qualify for a jewellery mortgage. What are the required documents? You may want to know about jewellery loan eligibility and what supporting documents are required. Most applicants know about a jewellery credit—but have little idea about its eligibility or requirements. Keep reading to learn more. In any case, any individual who owns gold coins or jewellery can apply for a jewellery loan with a bank or financial institution, the finest thing about which is that no income-proof documents are required. Despite the fact that the gold loan eligibility criteria may vary across banks, here are some basic guidelines of who can apply for a jewellery finance from any bank or financial institution. In any case, any individual who owns gold coins or jewellery can apply for a jewellery loan with a bank or financial institution, the finest thing about which is that no income-proof documents are required. Despite the fact that the gold loan eligibility criteria may vary across banks, here are some basic guidelines of who can apply for a jewellery finance from any bank or financial institution. Any individual with jewellery can take out a gold loan from any bank or financial institution. You don't need to provide income-proof documents like payroll records or bank statements to apply for a jewellery loan. While the criteria for receiving a jewellery loan may vary across banks, the following are some basic guidelines.
What is the eligibility criteria for gold loan
- Identification proof (any one document): Driving license, PAN card, passport, or Voter ID card.
- ddress proof (any one document): Driving license, rent agreement, passport, or utility bills like your electricity or gas bills.
- Additional items: Two recent, passport-sized photographs of the applicant.
In addition, some banks may require you to submit your income tax returns for the last three years if you are applying for a jewellery financing of over 25 lakhs. Also, submitting your PAN card is required if your annual income exceeds 5 lakhs.