DCB Bank offers Gold Loan at contentious interest rates. This bank is one of the major 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. In addition, The Gold Loan Interest 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.
What is Gold Loan?
Gold loan is a type of secured service, in which the applicant avails a loan against the gold ornaments. In this service, the loan seeker just has to put ornaments of gold in the security of bank in return of money. As soon as, the borrower repays the loan amount, the ornaments are returned back to the customer in the same shape.
Features of DCB Bank Gold Loan
- 1. Firstly, DCB Bank India gold loan is very easy to apply. One can apply for the gold loan online within a few minutes.
- 2. Secondly, If a borrower is eligible, the loan can be approved within 5 minutes.
- 3. 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.
- 4. 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.
- 5. In addition, The rates of interest provided by the bank are quite affordable.
- 6. Moreover, The documentation process is very easy and simple.
- 7. 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.
- 1. To begin with, Most people use the gold loan for the wedding purposes.
- 2. Also, Sometimes one can prefer to get a gold loan in case of a medical emergency.
- 3. Furthermore, Education can also be a reason for the usage gold loan.
- 4. Another purpose, One can also boost their business by using the gold loan.
- 5. Finally, The customer can get a gold loan to pay the bills related credit cards.
Who can get a gold loan?
- 1. Salaried individual.
- 2. Any self-employed.
- 3. Housewives/homemaker
- 4. Students (age should more than 18 years)
- 5. A farmer
Form of Gold
- 1. First of all, Any jewelry carries with the quality of 18 carats to 22 carats is acceptable.
- 2. Also, Gold coins weigh less than 50 grams can get a gold loan.
- 3. In addition, Bank does not accept minted/forged gold coins.
- 4. Next, Bars and bricks are not acceptable.
- 5. Lastly, Raw gold is not acceptable.
Documentation Required for DCB Bank Gold Loan
Proof of Adress of Applicant: The applicant has to particularly choose from:
Adhar Card /Pan Card/Valid Driving License/ Ration Card/ Utility Bills on the name of 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 2 passport size colored photographs.
Note: DCB Bank can ask for additional documents as per the needs and requirements.
Eligibility of DCB Gold Loan
Being eligible for a gold loan is easier in comparison to other loans:
- To begin with, 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 in order to get a loan.
- Another 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.
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 rates expected to change.
How to Apply?
The Gold Loan Application can be done in two ways:
Through the Online process, 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.
Beside the above process, the applicant can also apply for a gold loan through nearby DCB bank. To find nearby branch search Gold Loan near me on google. Google will enlist all the banks available near you. You can visit the branch that is nearest to you. But, this process is quite tiring and time-consuming.