Bandhan Bank Gold Loan

Bandhan Bank is the best and trustworthy bank in India. This bank is a financial and banking company headquartered in Kolkata, West Bengal, India. Bank offers different products like Consumer banking, Loans, Mortgage loans, Private banking, and Microfinance. Bank provides easy access to cash to customers. If you need immediate funds to overcome the financial crisis or to fulfill the personal needs, business expansion, medical emergency, then Bandhan Bank is the right choice for you. Keeping Gold in your Safe or locker will not going to help you but taking a loan against Gold will definitely. Bandhan Bank Gold Loan at a meager rate of interest and provides you with the maximum funding. It will help you in generating cash through demand draft.

Featuers of Gold Loan Bandhan Bank Gold Loan 

  1. Firstly Lower interest rate.
  2. Secondly Faster processing.
  3. Thirdly, Your Gold is safe and secured in a bank locker.
  4. You can use the gold loan money for any personal purpose.
  5. Basic documentation only, No CIBIL score.
  6. Furthermore, Flexible repayment options as well as lower monthly outflow.
  7. Beside that No processing fees.
  8. Low or no foreclosure charges.
  9. Bad credit history, not an issue.
  10. Instant Processing and Disbursal.
  11. Besides, You can borrow in thousands to a crore.

Forms of Gold that is acceptable

Bandhan Bank doesn’t consider every type of gold ornament for the loan on gold. There is some limitation.
  1. Firstly the purity of the gold ornament should lie in between 18 Karats to 22 Karats.
  2. After that, the bank accepts the gold in the form of ornament.
  3. Besides, that bank refused to accept the raw gold for Gold loan.
  4. Furthermore, you can get a gold loan by using gold coins that weigh less than Grams.
Know More- Gold Loan Per Gram

Banndhan Bank Gold Loan Interest Rates

In general loan on gold, the credit is available at a low interest rate. Moreover, the reason behind that the gold loan comes in the category of secured loans. So the Gold interest rates are less than that of personal loan or any other kind of loans. Though the gold loan rate keeps on changing time to time as well as person to person. 
  1. The gold loan is available at 1% PM interest rate.
  2. Gold Loan Interest rate - 10.70 %.
  3. Moreover, offer low processing fee that is  0.85%.
  4. Further, pre-closer charges range from  0 – 2 %.

Know More- Gold Loan Interest rates 

Bandhan Bank Gold Loan Eligibility
1. First of all the applicant should be an Indian citizen.
2. Secondly, age limit minimum – 18 year and maximum – 70 years.
3. Thirdly An applicant should own his/her gold
4. After that, the purity of the gold ornament should lie in between 18 Karats to 22 Karats.
5. Furthermore, the applicant should have gold weigh more than 10 Grams at least.

Documentation Process  for Bandhan Bank Gold Loan

However, the process of documentation in a loan on gold is very easy and simple but, still, there are certain documents that a bank asks for a loan on gold:
  1. Identity Proof – Firstly one proof of identity is required. Anyone of the given proofs is valid (Aadhar Card/Voters Card/Driving License/ Passport)
  2. Residence Proof - After that, one proof of residence is also required to get a loan on gold. It can be like (Aadhar Card/PAN Card/Ration Card/ Electricity Bill of last three months with the name of the applicant/ Telephone Bill of previous three months with the name of applicant / Passport Copy)
  3. Besides, the applicant should have two passports sized colored photographs.

Additional Documentation for Loan on Gold

The bank needs a Proof of ownership of Land if you are applying for an agriculture gold loan:
  1. Land Proof - In the case of Agriculture Loan on gold of more than Rs. 1 lakh there is no requirement of proof for allied agriculture purposes.
  2. Required a Demand Promissory Note - Certificate by the Jewel Appraiser (Bank will arrange).
  3. Besides Income Proof of Salary Certificate as well as Form No.16

How to apply for the Gold Loan?

Applying for the Gold loan in Bandhan Bank is effortless. So take a benefit of evolved technology and apply for a Gold loan without going anywhere. 

  1. Firstly, You have to visit Dialabank and need to fill up the application form.
  2. Secondly, Then Customer representative of the Bandhan Bank will contact you and confirm some of the details. Then they will let you know the eligibility and fix your appointment with the banker. 
  3. After that, The banker will come to your doorsteps to collect the required.
  4. Besides that,  You need to visit once at the time of submission of Gold. After that, you will enter the bank with the gold and exit with the sanctioned loan.

Why Dialabank for online Gold Loan?

  1. First of all, dialabank offers a very easy process of application of the gold loan.
  2. After that, the customer gets a good comparison of the interest rates of other banks as well.
  3. Furthermore, the company provides the document pickup facility from your doorstep.
  4. Finally, you will get the best as well as the lowest interest rate. Moreover, for more information call 9592046860 or 60011600 with your city code.
Know More - What is CIBIL Score?

FAQs about Bandhan Bank 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.

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.