|City||Standard Gold (22 K)||Pure Gold (24 K)|
|1 gram||10 grams||1 gram||10 grams|
*Disclaimer: mymoneykarma will not guarantee on the exactness of the information provided on this site, the rates are subject to market changes. Information contained thus is unintended. We acknowledge no risk for any miss utilization of the information contained on this site.
The gold price in Jammu keeps fluctuating according to changes in gold rate in the national and international markets. It is important to keep track of the changes in Jammu gold price today if you are planning to get a Gold loan in Jammu.
Before taking any gold loan, it is important to know about today's gold rate in Jammu or gold rate today in Jammu. After all, the loan amount you get depends on the gold rate and on the gold's karat. And therefore, it is also essential to know about the 24-carat gold rate today in Jammu and about the 22-carat gold rate today in Jammu.
One can take a gold loan in Jammu whenever you need to take care of urgent expenses or emergency expenses. Have something that needs to be taken care of immediately? Then a gold loan in Jammu may be just what you need. Most banks and NBFCs give such credit lines.
Jammu is practically the winter capital of the Jammu district, as well as its largest city. It is the 2nd most populous city in all the union territories. Jammu is known as the City of Temples, having many famous temples and shrines.
There is one thing you need to know before going for a gold loan in the city. The most important thing you need to know is the gold rate in Jammu. This is important as on this depends how much gold loan in Jammu you’ll be getting.
Here are the general details of gold loans in Jammu:
Loan amount- Rs. 50000 to Rs. 50 lakhs
Loan tenure- 6 months to 2 years
Today gold rate in Jammu or gold price in Jammu is given in the table above, along with gold rates of previous days.
At mymoneykarma, you can compare and find the perfect gold loan in Jammu for yourself. It is in fact so easy that you may find a gold loan sooner than you can say “gold loan near me!”
Repaying gold loans is very easy nowadays. You have several repayment choices! You may choose to pay back the interest first, and then the principal. You may alternatively want to pay the principal and interest in a lump sum.
You can get this after the submission of all necessary documents, and after you give the bank gold ornaments or gold jewelry. Giving gold items and jewelry in lieu of money is common in India and in Jammu as well. People commonly use these to get short-term loans. The processing of getting these loans is easy and simple, and that makes it more convenient for people to get these whenever they so require.
However, do remember that these are short terms loans only. These are not for the long term. At the most, these have tenures of 2 to 6 years maximum. For short term loans, and if you have the loans, this can be the perfect way to get some cash. Also remember to know the current gold rate today Jammu and see the Gold Price Trend Chart for Jammu.
Banks and other financial institutions give several benefits like nominal rate of interest, attractive offers and easy repayment options for gold price in Jammu.
Fast loan processing
Low interest rates
No foreclosure charges
Credit score is not an issue when getting loans, but it is recommended to have a score above 600
Safety of your gold deposit as it remains with the bank till you pay back
No processing fees in most banks and NBFCs
Easy repayment options including paying only interest in installments, and afterwards the principal amount
Requirements: All you need to do is to provide your KYC documents and passport sized photos. After this, the bank will sanction your loan after evaluating your gold. Just pay the interest regularly.
Various schemes: Various banks offer a lot of schemes from which to choose the most suitable one.
End use: Banks and NBFCs do not ask for how you will use the loan. You can get the money without revealing any reason for use.
Loan amount: This depends on the gold’s value. Normally, you get 80% of the gold’s value.
Compare offers and interest rates of our site to know of the latest lowest interest rates.
Always maintain a clean payment record to get the lowest rate on any loan
Keep a high credit score, which should be above 600.
Take advantage of seasonal benefits
Ask your employer if the company has any tie-ups with banks in order to get better rates.
Currently, the gold loan rate in Jammu is between 9.70% to 26%. If you want to get the lowest interest against your gold, keep a tab on what banks and NBFCs are offering. It is also important to know the price of gold in Jammu.
Lower interest rates, starting from 12% to 16%
Easy repayment options
Fast and easy processing
Generally, you’ll be asked for KYC documents and one address proof in order to get the gold loan sanctioned. You may also want to know the Jammu gold trading prices.
You can apply for a gold loan in Jammu from banks and NBFCs at mymoneykarma. If you are in Jammu wondering "how to get a gold loan near me", mymoneykarma is who can help you.
Gold loan or loan against gold is a secured loan in which a customer pledges his/her gold ornaments as collateral with a gold loan company/lender. The lender, in turn, gives a loan amount as per the market value of gold to the customer. It is a very quick and easy way of fulfilling one’s financial needs as compared to the other loans.
Gold loan is a secured loan in which customers pledge their gold jewelry to banks or to Non-Banking financial corporations in order to get a short-term loan. Banks, NBFCs and independent lenders provide the loan amount, which depends on the market value of the gold ornaments. Gold loan is an easy way to get loans quickly for the fulfillment of immediate or pressing financial needs. Through gold loans, you can get loans faster and more easily than other forms of loans.
Paperwork for personal loans is not very elaborate, as long as basic eligibility parameters are met and KYC documents are furnished. While it is true that there are few financial products that can match the versatility and flexibility of personal loans, the emergence of secured gold loans bodes well for the loan scape, especially under the current circumstances that warrant an unstable employment scene. Learn in detail in this article.
When it comes to the requirement of funds, a person needs to approach long-term credit facilities that are offered by banks and NBFCs. These include personal loans, gold loans, home loans, vehicle loans, study loans, and more. Now, when getting loans for personal needs, or while getting one for personal use, people confuse between personal loans and gold loans. In case of personal loans, the interest rate is 2% to 5% higher when compared to a gold loan.
The main reason for this difference is that personal loans are unsecured, but gold loans are secured with your gold jewelry. To offset the risks for personal loans, banks charge you a higher interest rate.
Gold loans are better than personal loans. People prefer gold loans because they come with low interest rates, bigger loan amounts, faster disbursement, minimum documentation, and more flexibility in repayment. Even people with slightly low credit scores can get gold loans, which is not possible in the case of personal loans.
It is currently not possible, but there are other alternatives if you want lower interest rates.
Government subsidy: If you want to get money for agricultural purposes, there are subsidies from the government of India. By these subsidies, you can get lower interest rates as low as 4%.
Good credit score; Banks and NBFCs have no problem with giving low-interest loans to those with high credit score. Having a high credit score means you are reliable in paying back loans. For this, your score needs to be above 750. Gold loan interest rates start at 9.95%.
Selling the gold: If you are in dire need of money, consider selling the gold at the current value. That way, you won’t need to pay any interest and will get funds immediately. This will give you more value for your gold ornaments.
When you face any financial dilemma, the very first thing that comes to mind is of taking a loan. Of course, there are personal loans. But these come with high interest rates, and therefore are stressful on the borrower. The good news is that there are alternatives like gold loans and property loans. These can be useful in times of financial stress.
But which one is best for you? Let us find out:
Limited repayment problems as only your gold shall be lost
Rising interest rates
Lower Loan to Value Ratio
Loan against property:
Lower interest rates
Longer loan procedure
Tough on non-repayment with property possession and its auction
Stricter terms and conditions
There are several alternatives like:
unsecured personal loans and lines of credit
small business loans.