How to Apply for Shriram Union Gold Loan

Shriram Union Gold Loan is a scheme offered by Shriram Finance Ltd., a non-banking financial company (NBFC) in India. It allows you to borrow money by pledging your gold ornaments as collateral.

Here’s an overview of Shriram Union Gold Loan:

Features:

Loan amount: You can get a loan of up to 75% of the market value of your gold ornaments.
Interest rates: The interest rates start from 11.4% p.a. (as of January 2024), and may vary depending on the loan amount, tenure, and other factors.
Loan tenure: You can choose a loan tenure ranging from 1 month to 12 months.
Transparency: Shriram Finance claims to offer transparent fees and charges.
Multiple repayment options: You can choose to repay the loan in monthly installments or in a lump sum at the end of the tenure. You can also opt to pay only the interest and renew the loan at the end of the tenure.
Quick loan disbursal: Shriram Finance claims to disburse loans within minutes, subject to completion of all formalities.
Safe and secure: Your gold ornaments are kept in insured vaults with 24/7 security.

Benefits of Shriram Union Gold Loan:

Quick access to funds: You can get a loan quickly by pledging your gold ornaments.
No income proof required: You do not need to provide any income proof to avail of this loan.
Flexible repayment options: You can choose a repayment option that suits your needs.
Safe and secure: Your gold ornaments are kept safe in insured vaults.

Here are some things to keep in mind before applying for a Shriram Union Gold Loan:

The interest rates on gold loans are generally higher than those on other types of loans.
You may lose your gold ornaments if you are unable to repay the loan.
Make sure you understand all the terms and conditions of the loan before applying.

Here are some resources that you may find helpful: