DCB Bank offers Gold Loan at contentious interest rates. This Bank is one of the significant gold loan providers as it understands the needs of the customers and disburses 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. Besides, The Gold Loan Interest Rates and all other charges are transparent to borrower upfront before sanctioning the loan amount. Hence, the borrower does not have to worry about the hidden costs and fees on their gold loan.
Know More: DCB Bank Gold Loan
What is DCB Gold Loan?
Gold loan is a type of secured service, where you will get value against your gold ornaments; Gold Loan is Gold deposits where you get a value in monetary terms, and after repayment of the amount your gold ornaments will return to you in its same shape.
Read More - About Gold Loan
Features of DCB Bank Gold Loan
- Firstly, DCB Bank India gold loan is straightforward to apply. One can apply for the gold loan online within a few minutes.
- Secondly, If a borrower is eligible, the loan can be approved within 5 minutes.
- Next, After the approval of the gold loan, if the borrower has its complete documents, it can be disbursed quickly. One can say it can be disbursed within 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.
- Besides, The rates of interest provided by the Bank are quite affordable.
- Moreover, The documentation process is straightforward.
- Finally, the Bank will not ask the reason behind the gold loan; one can use this loan amount according to their needs.
Know More - Gold Loan Features and Benefits
Form of Gold that is acceptable
- Not every type of Gold is accepted by the banks to provide the Gold Loan. There are various restrictions regarding the valuation Gold.
- First of all, the purity or quality of the Gold should be in between 18 Karats to 22 Karats.
- Besides that, the raw form of Gold is not acceptable.
- Furthermore, gold coins that weight less than 50 Grams are accepted.
Know More - Gold Loan Per Gram
Documentation for DCB Gold Loan
- Adhar Card /Pan Card/Valid Driving License/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card.
- Identity Proof: The document for proof of identity should be specifically from one of the following:
- Aadhar Card/ Pan Card/ Driving License/ Voter ID Card
- Signature Proof: The documents considered for proof of signature are namely, Bank’s Verification document/ Valid Passport.
- Besides the above requirements, the applicant needs two passport size coloured photographs.
- Note: DCB Bank can ask for additional documents as per the needs and requirements.
Eligibility of DCB Gold Loan
- First of all, the age of the applicant should lie between 18 years to 70 years.
- Secondly, the applicant should be a citizen of India.
- The quality of Gold should be from 18 Carat to 22 Carat to get a loan.
- Other equally important criteria are the weight of Gold, which should be more than 10 grams. That is, the amount of Gold Loan per gram starts from 1,900 Rupees.
- Anyone can apply for a gold loan whether you are a salaried applicant or self-employed.
Know More - Gold Loan: Factors to Remember
DCB Bank Gold Loan Interest Rates
- To initiate The Gold Loan Interest Rate starts at 11.5% and can go up to 15.5% per annum.
- Further, Prepayment charges are 1%, and the tenure of the loan is from 3 to 12 months.
- Note: Interest rate mentioned here are updated with prices expected to change.
Know More - Gold Loan Interest Rate
How to Apply?
Through our site the applicant gets the opportunity to avail the service of a gold loan at the comfort of their home. Just follow the following steps:
- First of all, visit Dialabank.com.
- Secondly, fill an application form with all required fields.
- Thirdly, our Relationship manager, will call you back to assist through the entire process.
- Next, you will have to submit documents in the Bank.
- Finally, your loan will be approved in just some minutes.
- Apart from the above process, you can directly call us at 95920-46860.
FAQs about DCB 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. 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 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
- Pre-payment 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 makes Gold Loan better then any other 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
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