Kosamattam Finance gold loan details are an excellent way to get funds when you need them. This facility is available to anyone who owns a gold ornament or jewelry. The amount you receive will depend on the weight and purity of your jewelry.
Mr. Nasrani Varkey founded the company, and it is now run by his great-grandson, Mr. Mathew Cherian. It currently has 923 branches across Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Delhi, Maharashtra and Telangana along with Puducherry.
Instant Gold Loans
Kosamattam Finance provides instant gold loans in India. The company offers a variety of terms and repayment options, including EMIs, to suit your budget. These loans are easy to apply for and are available with minimal documentation. Moreover, the company also offers competitive interest rates and flexible tenures. You can also apply for a loan online or through the FINKO app, which makes the process even easier.
If you’re looking for a gold loan, there are many lenders to choose from. Some offer lower interest rates than others, while some offer different loan tenures and repayment options. You can also find a gold loan calculator to calculate how much your loan will cost. This way, you can make an informed decision about which lender to choose.
Generally, the loan amount will be determined based on the weight, purity, and market value of your gold. However, the company reserves the right to verify the purity of the gold further or open the packets and melt all or part of it at its sole discretion. The amount of the loan will include both principal and interest. You can repay the loan through EMIs or by transferring it to your bank account.
Kosamattam Finance is a non-deposit-taking NBFC that primarily focuses on the Gold Loan business. The company has a diversified presence in the states of Kerala, Tamil Nadu, Karnataka, Delhi, Andhra Pradesh, Maharashtra, and Gujarat, along with the Union Territory of Puducherry. The Company offers loans to businessmen, vendors, traders, farmers, salaried individuals, and families.
The company has a long history of operations in the Indian financial sector and is a leading provider of gold loans. It is a family-owned and operated company with headquarters in Kottayam, Kerala. The company also operates a branch in Mumbai, India.
Kosamattam Finance has been in operation since 1987 and is a publicly-held company. The company is listed on the Bombay Stock Exchange and has a market capitalization of more than Rs. 2 billion. The company’s earnings per share have grown steadily over the years. Its net income has increased by 21% over the last three fiscal years.
Easy documentation
Kosamattam Finance is one of the most popular gold loan finance companies in India. The company offers easy documentation and competitive rates. It also provides flexible repayment tenors. In addition, the company is well-regulated by the Reserve Bank of India. This makes it a safe and secure option for your financial needs.
The company is based in Kerala, India, and operates as an NBFC. Its primary business is lending against gold ornaments and other jewelry. It also provides fee-based ancillary services, such as money transfer, foreign exchange, power generation, agriculture, and airline ticket sales. The company has a market capitalization of more than $340 million. Its promoters include Mr. Mathew K Cherian and Ms. Laila Matthew.
Kosamattam Gold loans are available to anyone who owns a gold ornament of 18-24 karat purity. The value of the gold is based on its weight, purity, and market price. The company will verify the authenticity of the gold before granting a loan. However, it is essential to note that the stones fixed in the gold may have a higher value than the gold itself.
Gold loans are considered an easy way to get instant cash. Kosamattam Finance’s Gold Loan is designed for those who need to borrow funds immediately and want to avoid long lines at their bank. Its online application is simple and fast. It also has a mobile application that allows you to check your loan status and make payments easily.
To apply for a Kosamattam Gold Loan, you will need to provide the following documents:
Once you have submitted your gold ornaments and proof of identity, the company will process the application. Once your application has been processed, you will be notified of the loan amount and the terms and conditions. The company will also give you a pawn ticket that must be produced at the time of repayment. In the event that you lose your pawn ticket, the company will replace it with an equal net weight of gold, as indicated on the pawn ticket. It reserves the right to exercise a lien on your pledged gold at any time to secure the payment of any other liability of yours to the company until such liability is fully settled.
Interest rates
Kosamattam Finance offers gold loans at a reasonable interest rate. They have a number of schemes to suit different needs and requirements. They also have a number of convenient repayment options, including EMIs. This makes it easier for people to pay back the loan.
If you want to apply for a gold loan, you should first visit their website. You will find a form that will ask you to provide details about your personal and financial information. They will then take a look at your loan eligibility and determine how much money you can borrow. Once this is done, they will send you an offer letter with the terms and conditions of the loan.
Gold loans are typically secured by collateral, such as jewelry or other valuables. The company will appraise the value of the gold you pledge and give you a loan amount based on that value. Then, they will store the jewelry until you repay the loan. This is to ensure that the jewelry does not get lost during the process.
The company has been in the business of providing credit facilities by accepting gold jewelry as security for over three decades. Its customers are generally businessmen, vendors, traders, farmers, salaried individuals and families. Its branches are spread across southern India. As of 30 June 2018, the company has a network of 923 branches.
KFL has a substantial brand value, a stable portfolio, and a comfortable debt profile. The company has 20 bank lenders on its balance sheet, and NCDs are a major source of funds for the company. The company is rated BBB by India Ratings. This rating indicates that the company has a moderate degree of safety in terms of timely servicing of financial obligations.
Besides offering loans, KFL also provides fee-based ancillary services. Some of these services include money transfer, foreign currency exchange, and power generation. The company is headquartered in Kottayam, Kerala, India. Its promoters are experienced and have been in the business for over three decades. They have a good track record of delivering consistent returns to shareholders.
Tenure
The duration of a gold loan depends on the amount of the loan, the purity of the jewelry, and the current market price of the metal. The tenure of the gold loan can be as low as 12 months to a maximum of 36 months. The interest rate for this type of loan is very reasonable and can be quickly repaid with monthly EMI payments.
Besides the core business of gold loans, Kosamattam Finance also offers fee-based ancillary services such as money transfer services, foreign currency exchange, and air ticketing services. It has a comfortable portfolio quality with a gross non-performing asset (NPA) ratio of 1.50% and a net NPA of 0.97%. Its substantial brand value and experienced promoters have resulted in the company enjoying a good reputation in the financial sector.
As of June 30, 2018, the Company has a network of 923 branches spread across southern India. It is a systemically important non-deposit-taking NBFC that is primarily engaged in the gold loan business. It lends money against the pledge of household and jewelry in the States of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Delhi, Maharashtra, Gujarat, and Telangana, and the Union Territory of Puducherry.
In order to avail a gold loan from Kosamattam, the borrower has to offer their golden ornament or jewellery as security. The Company will then evaluate it and decide how much to lend based on the current market value of the jewelry. The borrower then has to provide proof of identity and address and submit the loan application form. Once all the documents are verified, the loan will be approved and disbursed within 24 hours.
The Company reserves the right to exercise a lien on the gold offered as security for this loan in respect of any other liability of the borrower due and payable to it until such other liability is fully settled. However, the lien shall not be exercised without giving prior notice to the borrower. If the Company exercises the lien, it will sell the gold and adjust all amounts, including interest and charges, due to it from the proceeds of such sale.
