Documentation process while availing Gold Loan

The procedure of availing Gold loan

The method of obtaining a gold loan is quick. In times of need, a Dena Bank Gold Loan can be valuable. The procedure of availing Gold loans are

Application process
Document verification or Documentation
Purity Test of Gold
Loan Approval
Application protocol

The application is a process where one has to appeal to the respective authority for granting certain things. The application for a Gold loan can be completed in the bank in-person visit or digitally by visiting Dena Bank’s official website or app. An application contains some personal information along with gold information and other details.

Documentation

This is the most crucial process for acquiring loam. A simple background check is conducted to avoid fraud. KYC documents, along with two passport-sized photographs, are asked to be submitted.

One can submit any one of the Aadhar Card, Driving licenses, Voter IDs, PAN Card as Identity proof. Aadhar card, Ration card, passport, utility bills, or renter agreement for people residing on rent can be submitted as Address proof or residence proof.

The Borrower has to visit the Bank for this procedure. A bank representative will assess your KYC Documents.

Purity test of Gold

Bank authorities do the Purity test of Gold on the premises of the Bank. The purity test of Gold is an evaluation of Gold for its composition, weight, and impurities present in it. The loan amount is sanctioned based on the evaluated gold rate per gram. A purity test is a mandatory test.

Loan Approval

After completing all the procedures and meeting the Eligibility criteria, a Gold loan is sanctioned. A Sanction letter is issued in the name of the Borrower. A sanction letter contains details about the lending bank, loan scheme, gold rate per gram, interest rate, processing fee, prepayment options, tenure period, repayment options, etc., along with the Dena Bank’s terms and conditions. After depositing the evaluated Gold in the Bank, the loan amount is reflected in the Borrower’s account quickly.

Safety of Gold

The Gold deposited in the Bank is placed in the bag and marked by a unique application no. This is placed in the lockers present in the Bank. Lockers are present inside the Bank’s vault. It is safely guarded and kept under surveillance. Bank authorities only enter this room. Each locker has its specific keys. The keys are with one of the Bank authorities.

Repayment options

These choices are given for the fulfillment of the Debt. The loan amount has to be paid over the tenure period chosen by the Borrower. If the Borrower misses repaying an installment, he/she can renew or extend their tenure period, but this has to be done before the expiry of the tenure period.

The three options given for repayments are Bullet repayment scheme, Overdraft repayment scheme, and EMI option.

Bullet Payment Scheme
One has to repay towards month-end, and the principal amount is due at the end of tenure.

Overdraft Scheme
This scheme can be available for colossal loan amounts, and the interest is only charged on the amount disbursed by the Borrower.

Equated Monthly Instalments (EMI)
In EMI, an indicated amount by the Borrower gets deducted towards the end of the month. EMI can be calculated using EMI Calculator. Choices have been given to the Borrower for making a suitable EMI choice.

Standing Instruction (SI)- It is For Dena Bank account holders. The repayments are made towards month-end on the amount indicated by the borrowers.
Electronic Clearing Service (ECS)- It is for Non-Dena Bank account holders to digitally transfer the amount.
Post-Dated Checks (PDC)- to enable non-Dena Bank accounts to submit post-dated EMI cheques have to be submitted.

Direct Payday Lenders – No Third-Party Involvement

What do you do when you need to quickly borrow money while you wish to avoid asking friends and family? And what if you have a bad credit history. As data has it, the vast majority of the population today prefers loans from non-traditional sources in such situations. Typically, the ideal source here would be a trustworthy direct lender. Choosing to borrow loans from legitimate direct payday lenders where no third party is involved, can offer certain benefits, that make such loans more valuable to borrowers.

In this article, the most valuable benefits are discussed, and thereafter, a link to a renowned source that offers direct lender payday loans is shared for your convenience.

Why choose Payday Loans from Direct Lenders?
Direct lenders are the source of your loans when you cannot get a traditional or a bank loan. Whether you approach a matching service or a loan broker, your money is being sourced from a direct lender. When you’re able to apply for your payday loan with a trusted direct lender, avoiding third-party entities can offer these benefits to you:

1. No Third-Party Commissions & Delays
When you opt to directly deal with your lender, any commissions that are paid out to brokers are avoided and this almost always benefits you, the customer. Also, an added entity can always add delays, and that delay gets avoided too.

2. Better Security & Transparency
Why share your sensitive data with multiple people? Deal with a trusted direct lender, and your details shall remain with the lender alone, unless some verifications need some limited information to be shared, in order to be completed. Also, there’s typically more transparency in deals where lesser entities are involved. Transparency helps you reduce the chances of feeling cheated or being denied information that’s essential.

Some Direct Lenders provide Guaranteed Payday Loans
Only when a direct lender provides a guaranteed payday loan, can the claim truly be legit? So, if you need a lean with a very high chance of being approved, it is important to consider looking for a direct lender that’s trustworthy and offers such a loan.

Guaranteed payday loans would typically be subject to certain income criteria basic qualifications terms being met by the borrower. Typically, a legit lender that makes such an offer, shall provide clarifications about these terms and conditions, and guarantee a payday loan of an amount that they deem safe for a borrower to apply for, subject also to the applicable state and federal laws.

Bad Credit? Choose Lenders that Perform No Credit Check
When you have a bad credit score and still need a loan, it’s likely that you’re heading towards a payday loan or an installment loan from a direct lender. What you need to keep in mind is that a no credit check loan is likely to be your best option in this scenario. Such a loan is designed for bad credit borrowers.

Most bad credit borrowers typically choose loans only in emergencies. Direct payday loan lenders that performs no credit check can offer a suitable solution as their loan approval tends to be a faster process.

Instant Approved Loans – a Reliable Direct Lender of Payday Loans
With years of experience and thousands of satisfied customers, Instant Approved Loans is an online service that enables borrowers to find their direct payday lender loans, with no third-party present in the deal. Applying for a payday loan from this direct lender is absolutely easy – it just takes a 3-minute online form to get the process started and shortly, once basic verifications are done, a transparent loan offer is provided to you. Upon your agreement to the loan terms, the money is credited to your account and the whole process often completes within just a few business hours!

Questions To Ask Before Applying For Car Loans

It is best always to make informed decisions financially. Knowledge can take you far when you research for the best car loan deals. Factors to prioritise are lower interest rates and minimum processing fees.

A little research and some set of fundamental questions help save you more on your car loan. What are these questions? Let us find out:

What are the interest rates charged on a loan?

This should be at the top of your mind while applying for car loans. Check the interest rates banks are charging on your loan. Several banks provide these loans at lower rates. For instance, it starts for as little as 9.5% annually.

What is the total amount financed?

It is best to pay about 20% of your vehicle price as the down payment and the balance 80% by the bank based on the car’s market value. However, a few of them offer up to 100% finance on the ex-showroom price. When you apply for car loan, follow the 20% rule of the monthly income under EMIs. Paying a higher EMI amount strains your finances.

What should be the down payment and the tenure for the loan?

Understand that your four-wheeler loan stays with you for a while, and you need to pay regular EMIs for years. The key here is intelligent financial planning. You should not agree to a higher EMI amount, which places immense pressure on your daily budget for keeping the tenure towards the lower side and saves interests. You should also avoid opting for the longest tenure as it increases the interests payable. A balanced EMI is sensible which does not put excessive pressure on your earnings.

What fees are part of the loan?

Besides the interest rates, you need to pay several fees for the car loan. Ask about the charges applicable both at the time of sanctioning the loan and while paying the debts. Some of the standard fees levied on the consumers are processing fees, documentation expenses, credit report costs, registration collection fees, stamp duty, part prepayment costs, foreclosure, delayed payment penalties, etc.

Can I make payments early without penalty?

You should ask this to the lenders before you apply for car loan. Most lenders levy prepayment, foreclosure, and other such fees when deciding to pay off the debts before the tenure ends. Always go for banks that charge minimal in such events. Some do not charge for foreclosure at least for two years. Such banks should be given preference.

Article Marketing Consultant – A Great Help for Beginners

Being new in the field of article marketing has disadvantages. As you’re literally clueless as to what you need to do to succeed in this field, you’re more likely to commit costly mistakes or waste too much time without the chance of hitting your internet marketing goals. Good thing there are now consultants that can help you out. These people have years of related experience and are considered experts in the field of article marketing. They can help you learn the process in as little time as possible.

Is it expensive? You’ll be happy to know that hiring article marketing consultants is something that will not burn your pockets. As this is a relatively simple method that you can learn in a couple of days or in a week, these people will not charge you thousands of dollars. Some of them will just email you useful tips and give you 2-3 hour phone consultation where you can raise your questions and where you can get expert advice. To give you an idea, you may just pay anywhere from $10-$25/hour for their services. Personally, this is something that I would consider a very good investment. You see, if you become an expert in article marketing, I can guarantee you that you’ll make lots of sales and revenue in no time at all.

Where to find reputable and effective article marketing consultants? Well, you will surely not have a hard time finding one as there are thousands of individuals from across the globe who are offering this service. Just key in the term “article marketing consultant” and you’ll get hundreds of relevant pages on search results. I would recommend that you shortlist at least 3 companies and research their background. You would want to work with those people who have been doing this for years and who have proven track record.

What to expect? Article marketing consultants will base the whole training program based on your skills and specific needs. For example, if you already have exceptional writing skills, they will surely propose that you’ll focus on other areas of the task. For example, you can spend more time in learning SEO or learning the process of distributing your articles online. Depending on your preferences, your consultants can just email the instructions to you every day for a specific period of time or you can do one-hour phone coaching everyday (this is usually more expensive).

Don’t be scared to ask all your questions and ask for as many expert tips as possible (you’ll surely be able to make use of them). While still in the program, write several articles and ask your consultant to review them for you. It is through this that you’ll figure out your strengths and weaknesses. I would also recommend that you start your article marketing campaign while you’re still in touch with your consultant so he/she can help you start on the right foot.

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