Karur Vysya Bank began operating in 1916 in Karur. The bank provides many financial services and products. These include loans for personal needs. There are many people who need instant finance for certain expenses. Gold Loan is best suited for short term needs. It provides instant loan against gold. Gold Loan is basically taken to overcome short term requirements of a person. Karur Vysya has it's gold loan scheme named as Swarna Mitra which has many features discussed below:
Features of Karur Vysya Bank Gold Loan
- It is a Short Term Loan / an Overdraft
- It loan is for those individuals who own Gold Jewellery
- The loan is specifically for personal purposes.
Specifics of Karur Vysya Bank Gold Loan
|Primary security||Pledge of Gold Jewellery with Minimum purity of 22 Carats and Gold Ingots sold by banks.|
|Collateral security||Nil (Optional)|
|Processing charges||0.50 Per Loan of Rs.100.00 (inclusive of Appraisal charges)|
|Minimum Loan Amount||Rs.1.00 Lakhs|
|Repayment Tenor||12 Months (Overdraft Facility). The Limit can be renewed for a further period of 12 months, subject to the discretion of sanctioning authority.|
What is Gold loan?
Gold is one of the most precious and costly metals in India. Its value in our lives cannot be ignored because every person is attached to it emotionally. However, what is the point of keeping your gold in a closed drawer when it can help you in times of emergency. Taking a Loan Against Gold can help you to overcome any drastic situation. Gold Loan is the best way to get cash in a short span.
Why Karur Vysya Bank Gold Loan?
- Loan Amount: A maximum amount of Rs.10,00,000 can be availed.
- EMI options: Hassle free payment of EMIs.
- Instant liquidity: Enjoy liquidity of cash at any time. Generate instant cash in time of need.
- Security: The customer is assured that his/her gold is in safe hands.
- Interest Rates: Individual can get the advantage of lower interest rates for this Loan.
- A person can also apply for Gold Finance on Agricultural Land on their name and get a discount of 1% on the interest rate charged.
Rate Of Interest & Per Gram Rate For Jewel Loan Products
|S.No||Jewel Loan Products||Per Gram Rate (Rs.)||Rate Of Interest (%) With Effect From 24.02.2016||Maximum Limit|
|JEWEL LOAN (AGRI)|
|1||JEWEL LOAN (AGRI)-12 MONTH
(Based on extend of land and cultivation)
|2||KVB QUICK JEWEL LOAN (AGRI)-6 MONTH
|JEWEL LOAN – OTHERS (NON-AGRI)|
|3||JEWEL LOAN (OTHERS)-12 MONTH||1625||12.00
|3||JEWEL LOAN (TRADE)-12 MONTH||1625||11.75
|4||KVB QUICK JEWEL LOAN (TRADE) - 6 MONTH||1725||12.15
|5||KVB QUICK JEWEL LOAN (PERSONAL) - 6 MONTH||1725||12.15
|6||KVB-SWARNA MITHRA SCHEME
OVERDRAFT (OD) PRODUCT
Documents Required for Gold Loan
- Proof of Identity: Passport Copy/ Voters ID card/ Driving License.
- Address Proof: Ration card/ Tel, Electricity Bill/ Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate.
- Signature Proof: Passport Copy/Driving License/Banker's verification/cheque.
- 2 passport size photographs.
Karur Vysya Bank Gold Loan Procedure
- First of all, Apply online for loan against gold.
- Afterwards, borrower will have to submit an application form along with his / her valuable Gold asset.
- Then the bank will evaluate the real value of your Gold in terms of its purity and weight.
- Finally the Loan is sanctioned to the applicant after checking the genuineness of the asset provided.
- The whole Gold Loan process takes around.
* For any assistance regarding Gold Loan, call us on 60011600, our trained Relationship Managers will solve all your queries.
Leading Gold Loan Providers (Click to Apply)
- Manappuram Gold Loan
- IIFL Gold Loan
- HDFC Gold Loan
- Muthoot Gold Loan
- Reliance Gold Loan
- Canara Bank Gold Loan
- Other banks
|Karur Vysya Bank Gold Loan EMI Calculator||Karur Vysya Bank Gold Loan Interest Rates|
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