Complete Guide to Manappuram Online Gold Loan Facility

Complete Guide to Manappuram Online Gold Loan Facility

Manappuram Finance Limited, one of the reputed NBFCs in India has come up with the facility of online gold loan (OGL), wherein the borrower can apply for the loan on the internet or through the OGL app. The documents to be submitted can be uploaded online for verification. Only basic details of the borrower will be asked. Identity and residence proof with PAN card and Aadhar card needs to be submitted when making the loan application.

Why is Gold Loan Online Service Required?

The customers of Manappuram online gold loan will be able to see the available balance and check for updates in their account and make instant repayments of interest and principal amount. The quick apply service is a boon in disguise especially to those who live in remote areas, where visiting branch office is difficult. This service is available all around India and can be accessed within a click. The loan will be paperless and hassle-free. Instant disbursal is promised.

To register for this service, one has to first safeguard the gold asset with the NBFC, after which the person has to link his/her savings account to OGL. The loan amount will be disbursed to the linked savings account, after approval. The individual can use the fund for any expenses they want, but not for any illicit act.

Why to Apply for Online Loan against Gold?

The gold loan online facility by Manappuram Finance will help customers to monetize their gold assets. Rather than liquidating gold, one can take a loan against the ornaments and utilize the money for financial requirements and emergencies. The funds from the loan can be used for any monetary reasons such as education, wedding, home repair, business, big-ticket purchase, medical care, etc.

Below provided are the reasons for applying for gold loan Manappuram.

  • An individual can borrow up to Rs. 1.5 crore. The loan amount will be calculated on the basis of gold’s purity, net weight, and the terms and conditions of the financial institution.
  • Free security and custody will be granted to gold jewellery pledged with the NBFC.
  • Borrowers can apply for this loan online anywhere and anytime from the comfort of home as well. The application process is simple and anyone who is not well-versed with computer or smartphone can also comprehend the steps to apply for a gold loan.
  • A free insurance cover may be provided to the pledged gold. 24×7 online payment facility is available.
  • Paperless transaction service is also offered from the mobile application.
  • Easy documentation makes for instant loan approval. Loan policies are transparent and no hidden charges apply.

Benefits of Manappuram OGL

Below mentioned are advantages of gold loan by Manappuram Finance.

  • No need to physically visit the branch office as application for the loan can be accepted via OGL app or the website of the NBFC.
  • No hard copy of documents needed. You can upload the soft copy of the needed documents when applying for the loan on the web.
  • No guarantors required as the gold asset pledged acts as security and will be returned to borrower once he/she makes complete repayment.
  • No heavy fees. Only minimal processing fee is applicable. Late payments may attract penalties.
  • No credit check. A person’s credit score does not matter for a gold loan. However, repayments towards the loan will make a difference to the credit score.
  • No need to provide employment and salary proof. No bank account statement or ITR are required.

The above-mentioned features of online gold loan Manappuram Finance will certainly help borrowers to understand the loan feature better and utilize it to their benefit.

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