Syndicate bank offers loan against gold at contentious interest rates. Syndicate bank is one of the major Gold Loan providers that understand the needs of the customers and disburse the loan amount in one hour. Also, The pledged gold is locked safely in the vault and the borrower does not have to worry about its safety. The gold rates and all other charges are announced to borrower upfront in a transparent manner before sanctioning the loan amount. Hence, the borrower does not have to worry about the hidden charges and fees on their gold loan.
About Gold Loan
Gold loan is a loan in which a borrower can get a loan against gold. Gold loan is a type of secured loan. In gold loan, the bank will take borrower’s gold in order to give a loan to the borrower. Bank will deposit borrower’s gold as a security. Finally, the safety of gold is the responsibility of the banks.
Features of Syndicate Bank Gold Loan
First of all, Syndicate Bank India gold loan is very easy to apply. One can apply for the gold loan online within a few minutes.
Secondly, If a borrower is eligible, a loan can be approved within 5 minutes.
Thirdly, After the approval of gold loan, if a borrower has its complete documents it can be disbursed quickly. One can say it can be disbursed within a period of a few hours.
Also, The responsibility of the gold is all at the bank’s end. Borrower’s gold assets will be kept under very tight and fireproof security.
In addition, The Gold Loan Interest Rates provided by the bank are quite affordable.
Furthermore, The documentation process is very easy and simple.
Finally, Bank will not ask the reason behind the gold loan, one can use this loan amount according to their needs.
Uses of Gold Loan
The borrower can use the amount of loan wherever one wants. Following are some basic reasons given for which one can get the gold loan.
- To begin, Most people use a gold loan for wedding purposes.
- Secondly, Sometimes one can prefer to get a gold loan in case of a medical emergency.
- Moreover, Education can also be a reason for the usage gold loan.
- Furthermore, One can also boost their business by using the gold loan.
- Finally, A customer can get a gold loan to pay the bills related credit cards.
Who can get a gold loan?
- Any salaried individual.
- Any self-employed.
- Students (age should more than 18 years)
- A farmer
Forms of Gold
- Any jewelry carries with a quality of 18 carats to 22 carats is acceptable.
- Gold coins weigh less than 50 grams can get a gold loan.
- Bank does not accept minted/forged gold coins.
- Bars and bricks are not acceptable.
- Raw gold is not acceptable.
Documentation Required for Syndicate Bank Gold Loan
Applicant’s Identity Proof: Verification documents required should be specifically among the following: Voter ID /Ration card /Aadhar card / Driving License/ Valid Passport
Signature Proof: The documents required as signature proof includes: Passport Copy/Driving License/Banker's verification/cheque
Residence Proof: The documents required as proof of residence are: Telephone Bill/ Electricity Bill/ Rental bill /Trade license /Shop & Est. License/Sales Tax certificate.
Documents required for the farmers are namely: Land Proof and Income proof
Other: Two passports sized colored photographs.
Note: Syndicate Bank can ask for additional documents as per the needs and requirements.
Syndicate Bank Gold Loan Interest Rates
The rate of interest starts at 11.5% and can go up to 15.5% per annum. Prepayment charges are 1% and the tenure of the loan is from 3 to 12 months.
Note: Interest rate mentioned here are updated as of May 2016, with rates expected to change
How to Apply?
To begin, the applicant has the option to apply for a gold loan in two ways:
To initiate, The applicant can apply for a Gold Loan through the nearby branch of Syndicate Bank. In order to find a branch nearby, search Gold Loan near me on google. Next, google enlists all the nearby branches where one can avail a gold loan. You can go to the most suitable branch for you and get the loan. But, this procedure is quite tiring.
The applicant can apply for a Gold Loan at the comfort of their home.
- Firstly, Search for www.dialabank.com on google.
- Next, A form will open up.
- Furthermore, Fill the form with the required information.
- Finally, You will get assisted by us further.
* For any assistance regarding Gold Loan, call us on 95920-46860 or 60011600, our trained Relationship Managers will provide you best information.