Yes Bank is one of the most renowned banks in India. It offers a low rate of interest and quick disbursals with minimal Documentation. Why let go of opportunities and dreams due to the financial crisis when you have the gold power with you. Idle Gold in your safe will not give you anything, but Yes Bank Gold Loan will provide you with a chance of fulfilling your dreams. Yes Bank offers Gold Loan at a low rate of interest. The process of getting a Gold Loan is speedy and secure.
Know More - What happens when you don’t pay a Gold Loan?
What is Gold Loan?
Gold Loan is a loan against Gold. Gold is treated as a security. After proper verification of Documents and Gold, the Loan amount is disbursed. It requires minimal Documentation. So from now don't think much and fulfil your dreams by applying for Yes Bank Gold Loan.
Read More - About Gold Loan
Why Yes Bank Gold Loan?
- Yes Bank offers very Low Rate of Interest to the customer.
- Bank provides the facility of quick disbursal to the customer.
- Yes Bank offers fast processing.
- Simple Documentation.
- Minimum Documentation required.
- It charges low processing fees.
- It provides a low rate of interest.
- Guarantor/collateral is not required.
Know More - Gold Loan Features and Benefits
Yes Bank Gold Loan Documentation
The following documents are required along with your Gold Loan application:
- Passport (not expired).
- Diving License (not expired).
- Voters ID Card.
- Aadhaar Card issued by UIDAI
- PAN (Permanent Account Number) Card (along with any of the above documents)
Know More - Gold Loan: Factors to Remember
Eligibility for Yes Bank Gold Loan
- Age of the applicant must be 21-65 years.
- Applicant should have a stable source of income.
- Gold of purity should range between 18 karat-22 karat purity.
Know More - Gold Loan Per Gram
Rates and fees
- Yes Bank offers a rate of interest of 11%
- Processing Fee charges in YES Bank are 1.5%
- Yes Bank charges Prepayment at the rate 2% as well as maximum tenure 48 months.
- Loan sanctioned against Gold is minimum of Rs 25,000 and maximum 50 lakhs
- The easiest way of applying for a gold loan in Yes Bank
- The applicant can easily apply online on the site dialabank.com by filling up the form of Gold Loan by giving some information and personal detail.
- After that, the Bank representative will get notified, and they contact the applicant.
- They will confirm some of the features and let you know if you are eligible for the Yes Bank Gold Loan or not.
- They will tell the applicant the rate of interest offers by Yes Bank Gold Loan services. The applicant needs to visit the Bank with the Gold against which he/she is taking a gold loan.
- At last, the amount will be disbursed, and the lender will provide you with different options to repay the amount, and you can choose according to your ability to repay.
How to Apply for Yes Bank Gold Loan?
- You can easily apply for a gold loan online on www.dialabank.com.
- After that, you have to fill the form online with your name, contact number, and other asked fields.
- The moment you fill the form, you will get a call back from our side, and you can get all the required information and guidance.
- CIBIL score and Gold Loan
- CIBIL score is an essential part of a person's financial life. If you deal correctly with your loans and the credits, then your CIBIL score will be high. Otherwise, it will be low. So if your CIBIL score is below 550, then you might have a problem in getting a gold loan. On the other hand, if your CIBIL score is good, you will get a gold loan instantly.
Is Gold Loan Secured?
Yes, the gold loan comes in the category of Secured Loan. You pledge your Gold to the Bank as a security, so lenders have less risk of security, and so the rates of interest are not that high unlike in a personal loan. Furthermore, you can use this amount of Loan to fulfil your individual needs too.
Know More - Gold Loan Interest Rate
- Dialabank is India's first financial helpline company.
- After that, on the website of Dialabank, you will get meagre rates of interest.
- One more thing is that if you apply on dialabank, you don't have to go to the Bank to submit the documents the Bank will provide you with a document pickup facility from your doorstep.
FAQs About Yes Bank Gold Loan
1. How does Gold Loan work?
Loan on Gold is straightforward to understand. The Banks /NBFC provide you with funds against your gold ornament. The amount depends upon the gold weight.
2. Is Gold Loan 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. Do I need a co-applicant to get a gold loan?
No, to avail the 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.
8. is gold loan a good option?
A gold loan is an excellent choice because:
- Minimal Documentation
- Disbursal in 30 minutes
- Flexible Loan Tenure
- Wide-ranging Repayment Options
- Prepayment option
- Negligible Processing Fees
9. How can I avail a gold loan?
You can avail the service of a gold loan in a few clicks.
- Fill in your expected details in the web-form on Dialabank.
- Now all you have to do is, wait; our relationship managers will get back to you within 30 minutes.
- We will suggest you the Loan which meets your requirements, in your specific region.
- Submit the required documents with our representative, who will be in touch with you.
- Accept the loan amount in just 30 minutes.
10. Is Gold Loan better than a personal loan?
Yes, a gold loan is far better than a personal loan. Reasons being:
- A gold loan does not require a CIBIL score or any proof of your income.
- Gold loans are less time-consuming and hustle free in comparison with Personal Loans.
- A gold loan is a secured loan and therefore, is the most opted Loan nation-wide. Gold Loan Interest Rate of Different Banks - Updated on 2019
11. What is the benefit of gold loan?
Gold loans have various benefits, which are why it is the most opted Loan in the country. Some of the benefits are listed below:
- Proof of your income is not needed Loan
- Disbursal in just 30 minutes
- CIBIL score is not required
- Less Documentation
- Maximum Funding
- It is a Secure Loan
- Instant Approval
- Best Gold Loan Providers
|Bank||Gold Loan Rate|
|SBI Gold Loan||11.50%|
|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%|
|PNB Gold Loan||12.25%|
|Gold Loan in Following Cities|
|Gold Loan Delhi|
|Gold Loan Mumbai|
|Gold Loan Bangalore|
|Gold Loan Hyderabad|
|Gold Loan Chennai|
|Gold Loan Ahmedabad|
|Gold Loan Jaipur|
|Gold loan Chandigarh|
|Gold Loan Bathinda|