Life is full of uncertainties. Thus you may need money to cope up with financial obstacles in your life. In this case, you can get a Gold Loan  to fight with the financial crisis. Gold loan is a secured loan. Therefore the people with low CIBIL score can also easily avail this service. Central Bank of India Gold Loan  is one of the best gold loans in India. Central Bank of India was set up in 1911. Gold Loan in Central Bank of India comes with a lot of benefits and special features. Thus, make use of your gold in your bad time, and overcome the financial problems. Though, There are a lot of financial banking and non-banking companies that provide you with a gold loan, but Central Bank of India Gold Loan is considered the best. This Bank is one of the most reliable and  known for its brilliant financial services. 

What is Gold Loan ?

Gold loan is also known as a loan against gold. In this loan, you pledge your gold to the bank as security and bank provide you loan amount according to the quantity and the quality of your gold. Furthermore, The pledged gold will be kept in the bank lockers, and the bank is liable for the security of your gold. Finally, The moment you return your loan amount with interest rate you will get back your gold as it is.

Central Bank of India Gold Loan Eligibility

The loan seeker can avail a Gold Loan only if the eligibility criteria are fulfilled:

  1. Firstly, The applicant should lie in the age group 18-70 years. Hence, Any applicant who is either above 70 years or less than 18 years will not be considered for loan approval.
  2. Most importantly, you should be a citizen of India. That is, the nationality of a person should be Indian.
  3. Next, employment status is not considered. Therefore, both salaried and self-employed can apply. The bank is not bothered about your employment status.
  4. Furthermore, The weight and quality of gold are equally important. As a result, the gold should weight at least 10 grams, and purity should lie between 18 carats to 22 carats.
  5. Finally, Maximum funding that can be availed is up to 1Crore.

Know More - Gold Loan: Factors to Remember

Features of Central Bank of India Gold Loan

There are some Features of the gold loan. Let us discuss them.

  1. Fast Process: First of all, Central Bank of India Gold Loan is approved and disbursed very quickly and easily. The loan gets passed in an hour.
  2. Fewer Documents: Next, the documentation process is very easy and less, very basic documents are required for gold loan.
  3. Transparent System: Furthermore, the bank provides full transparency to the customer, that is, there are no hidden charges.
  4. Amount of Loan: Moreover, The minimum amount of loan that the bank provides to the customer is Rs. 50000. Also, It can be less than Rs — 50000 in rural areas.
  5. Safety of Jewelry: One important thing to note is that the bank is liable completely for the security of your gold. Thus, the gold is kept in fireproof security. 
  6. Loan Tenure: Also, The tenure of the loan can be from 1 year to 4 years. Hence, You can choose according to your comforts.
  7. Benefits for Farmers: Central Bank of India provides some special offers for agricultural purposes. That is, the bank offers a slight low Gold loan interest rate for a Gold loan for agricultural use.
  8. No Debt Burden: Importantly, There can be situations in which an applicant is not able to repay the loan amount in such a case the applicant will not be under debts as the bank will only confiscate the ornaments.
  9. No Income bounds: There are no restrictions on the salary or income of the applicant hence, anyone with any income rage can avail a gold loan.

Know More - 5 Must factor to keep in mind before availing a Gold Loan

How to Apply for Central Bank of India Gold Loan?

Online Process

You can apply for Central Bank of India Gold Loan online. The process of application is very easy as well as simple. Moreover, there are a few steps to apply for an online Gold Loan.
1. Firstly, visit our website that is Dialabank
2. Secondly, the applicant has to fill a form Online which involve necessary information.
3. After this, you will get a call back from our Relationship Manager to clear all doubts as well as to assist you in the entire process of the Gold Loan.
4. Next, the applicant can check his /her eligibility for further clarification of the approval of a gold loan.
5. Moreover, Submit all the documents need as proofs in the bank.
6. Gold loan is approved in some minutes and disbursed within a day.
7. Lastly,  call us directly for any quires at 9592046860, to clear any doubts.

Offline Process

The applicant also has an option to avail a Central Bank of India Gold Loan from the nearby branches. To do so, search Gold Loan near me on google. It will enlist all the nearby branches from where you can avail the loan. Then, you will have to visit again and again until the loan approval. Thus, it can be a very tiring and time-consuming process. You can avail loan from Central Bank of India Branches. As well as to find a branch that is nearby, search Muthoot Gold Loan near me. Google will enlist all the Muthoot Gold Loan Branches near you.
 

FAQs About Gold Loan 

  1. How does  Gold Loan work?
     Loan on gold is very simple to understand. The Banks /NBFC provides you with funds against your gold ornament. The amount depends upon the gold weight.
  2.  Gold Loan is secured?
    Yes, it is essential to note that the loan on gold comes in the category of secured loans. Because in a gold loan the applicant put their gold ornaments into the bank’s locker as security or as collateral.
  3. What happens when you don’t repay a Gold Loan?
     If the borrower is unable to return the gold loan on time, then the bank is liable to sell his gold ornaments.
  4. To get a gold loan do I need a co-applicant?
     No, to avail Gold loan you don’t need any co-applicant 
  5. Is Gold loan better than a Personal loan?
    Yes, a Gold loan is better than personal Loan because in Gold Loan banks/NBFC's takes Gold ornament as well as a gold coin as collateral and in case of Personal loan it is un-secured and hence carries higher interest than a gold loan.
  6. What is the best online platform to avail gold loan?
    Dialabank is the best platform to get a loan. Dialabank provides you hassle-free process as well as the lowest interest rate in the market as compared to others.
  7. Is there any fee payable for the Gold Loan?
    Yes, you have to pay the loan processing fee (non-refundable) as well as Valuation fee.

Know More - Top Reasons why Gold Loan is the best borrowing option

Gold Loan Interest Rate of Different Banks - Updated on 2019

 
Bank  Gold Loan Rate 
HDFC Bank 10.75%
Yes Bank  10.85%
Axis Bank 10.90%
SBI Gold Loan 11.50%
ICICI Bank 11.75%
IIFL Gold Loan 11.75%
Allahabad Bank Gold Loan 11.75%
Muthoot Gold Loan 12.00%
Federal Bank Gold Loan 12.00%
Manappuram Gold Loan  12.25%
IDBI Bank 12.25%
PNB Gold Loan 12.25%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
* For any assistance regarding Gold Loan, call us on 95920-46860, our trained Relationship Managers will solve all your queries.