About Agriculture Gold Loan
There are times in everybody’s day to day existence when one goes through tough situations as a result of the lack in his day to day existence’s funds. Yet, on the grounds that the banks and NBFCs give the credit on the gold insurances, one can get assets to satisfy his longings.
Agribusiness Gold Loans are by and large low-interest advances that ranchers can maintain their cultivating business, purchase agrarian land, or cultivating hardware. The point when you use the loaning sum for agribusiness design is known as a horticulture Loan. In general, it assists ranchers with maintaining their organizations all the more productively.
What is Gold Loan?
Moreover, the gold collaterals are very safe with the banks and NBFCs. A loan against gold is the financial assistance which is abbreviated as Gold Loan. In this service, the customer has to submit the gold in any form to the bank in the form of collateral against the loan sum. At present, Gold Loan per Gram is ₹ 5,121.
Features of Agriculture Gold Loan Rate
- Simple Loan Process- Easy and bother free loan interaction and speedy payment of loan sum
- Low-Interest Rates- Low-interest rates when contrasted with other kinds of loans
- Helpful Repayment Schedule- You can either decide to pay the sum in a single amount or in EMIs
- Insignificant Documentation- The documentation for horticulture gold loan is very straightforward
- Safety- Gold remains careful in bank vaults
- Loan Renewal Facility- Some banks additionally give the choice of loan recharging
Why Dialabank for online Agriculture Gold Loan?
- Firstly Dialabank offers a very easy process of application for agriculture gold loan
- The applicant gets a good comparison of the gold interest rates of other banks as well.
- The company provides the document pick up facility from your doorstep.
- You will get the best as well as the lowest gold loan interest rate. For more information, call 9878981166 anytime
It takes an hour to submit your application along with all the necessary documents and submit your gold as security.
Best Banks For Agricultural Gold Loan
|Agriculture Gold Loans||Loan Amount||Loan Tenure|
|SBI Agriculture Gold Loan||Depends on the weight of gold||12 months / 3 years (for overdraft)|
|Axis Bank Gold Loan For Farmers||From Rs.25,001 to Rs.20 lakh
For Overdraft: From Rs.2 lakh to Rs.25 lakh
|Union Gold Loan||Priority sector: Up to Rs.20 lakhNon-Priority Sector: Up to Rs.10 lakh||6 / 12 months|
|Federal Bank Agri Gold Loan||From Rs.1,000 to Rs.1.5 crore||6 / 12 months|
|Bank of Baroda Agriculture Gold Loan||Up to Rs.25 lakh||Maximum 12 months|
|IDBI Agri Gold Loan||From Rs.10,000 to Rs.5 lakh||Min- 1 month Max- 24 months|
|Bank of Maharashtra Agriculture Gold Loan||Up to Rs.20 lakh||Flexible|
|South Indian Bank Agri Gold Loan||From Rs.5,000 to Rs.10 crore||6 / 12 months|
|Kerala Gramin Bank Agriculture Gold Loan||Up to Rs.3 lakh||12 months|
|Indian Bank||85% of the market value of gold jewels||6 months|
Agriculture Gold Loan Rate of Interest, Tenure, Loan Amount
|Loan Amount||Any amount from Rs.1,000 to Rs.10 crore*|
|Loan Interest Rate||7.00% p.a. onwards*|
|Repayment Options||Lumpsum, EMI|
|Gold Items accepted||Gold ornaments verified for quality and quantity|
|Tenure||Starting from 1 month to 24 months*|
|Processing Fee||0-1% of the loan amount*|
Agriculture Gold Loan Amount Determination
Bank or NBFC will take into record the following factors before approving loan amount to the applicant:
- For crop generation, the quantum of loan will be assessed on the evidence of the scale of finance
- The actual amount of credit demand by the applicant
- 75% of the appraised worth of gold ornaments of 22-carat fineness
- Repayment capacity of the candidate
Agriculture Gold Loan Documents Required
Only the people who are involved in agricultural activities can get Agricultural Gold Loan.
The basic documents that are required are:
|Form||Duly filled application form|
|Proof of Identity||Copy of:
Voter ID card
|Proof of Address||Rent Agreement (Min. 1 year of stay)
Passport (Proofs of permanent residence)
|Photographs||2 passport sized Photographs|
|Agriculture Proof||Agriculture Land Ownership Proof|
Agriculture Gold Loan Additional Documents Required
|Land Proof||In the case of Agriculture Loan on the gold of more than Rs. 1 lakh the proof is not needed for allied agriculture purposes|
|Demand Promissory Note||Certificate by the Jewel Appraiser (Bank will arrange)|
|Income Proof||Salary Certificate and Form No.16|
|KCC Kisan Credit Card||a Card was issued to all farmers including small and marginal farmers, tenant farmers, and oral lessees|
Agriculture Gold Loan Eligibility Criteria
|Occupation Criteria||short term crop production|
|Age Criteria||not less than 18 years|
|Gold Quality||18 karats to 22 karats|
Purpose of Agriculture Gold Loan
- Buy land for agriculture purposes.
- Buy farming equipment as well as cover operating expenses
- Buy livestock
- Cover storage/warehouse expenses
- Help with the marketing expenses
- Rural housing-related projects
- Consumption requirements(for marriage, education, religious/family functions)
Agriculture Gold Loan EMI Calculator
Utilize our Gold Loan EMI Calculator to check the measure of EMI you will be needed to pay on your gold loan. To compute your EMI, follow the underneath recorded advances:
Step 1: Click here to go to our Gold Loan EMI Calculator page.
Step 2: Enter the favoured loan sum, interest rate and loan residency
After effectively presenting the previously mentioned subtleties, you will actually want to see the EMI sum on the correct side of the screen. By looking at changed EMIs on various upsides of loan sum, interest rate and loan residency, you can pick the ideal one for you.
Agriculture Gold Loan Subsidy 2020
The Agriculture and Farmer’s Welfare Ministry had published last year that agriculture jewel loans and short term crop loans availed from October 1, 2019, would fit for subsidy only if these loans are converted as KCC (Kisan Credit Card) accounts on or before 30th June 2020.
The interest rate for agriculture Gold loans up to Rs 1 lakh was 7% p.a which was raised to 9.5%. Now, the interest subsidy of 2% and another 3% as a prompt repayment incentive takes down the annual interest on these investments to 4.5 % p.a.
Agriculture Gold Loan Waiver Scheme
Telangana government declared waiver of all outstanding crop loans of farmers up to Rs 1 lakh paid in the state by commercial banks, cooperative credit organizations including urban cooperative banks and regional rural banks. As per the information, the amount would be distributed to each farmer exclusively in the form of cheques through their respective local legislators. As per the guidelines for the crop loan waiver-2018 scheme, the waiver will be suitable for all crop loans sanctioned or renewed on or after April 1, 2014, and excellent as of December 11, 2018. However, the waiver amount doesn’t include processing charges, legal costs, insurance, inspection charges, and any other such costs.
FAQs for Agriculture Gold Loan
✅ How quickly will my loan application be prepared?
The vast majority of the bank give same day disbursal on gold loans.
✅ How is the interest rate on Gold Loan and Gold Overdraft determined?
✅ On gold overdraft how would I pull out reserves, Can I utilize net banking for deposit?
ATM card and Chequebook will be given against the Gold Overdraft account. Clients can utilize Net Banking likewise for Deposit purposes.
✅ Will the horticulture gold loan have profit from any of the branches?
No, loans under the horticulture plans can be conceded by assigned and distinguished Branches as it were.
Table of Contents
- 1 About Agriculture Gold Loan
- 2 What is Gold Loan?
- 3 Features of Agriculture Gold Loan Rate
- 4 Why Dialabank for online Agriculture Gold Loan?
- 5 Best Banks For Agricultural Gold Loan
- 6 Agriculture Gold Loan Rate of Interest, Tenure, Loan Amount
- 7 Agriculture Gold Loan Amount Determination
- 8 Agriculture Gold Loan Documents Required
- 9 Agriculture Gold Loan Additional Documents Required
- 10 Agriculture Gold Loan Eligibility Criteria
- 11 Purpose of Agriculture Gold Loan
- 12 Agriculture Gold Loan EMI Calculator
- 13 Agriculture Gold Loan Subsidy 2020
- 14 Agriculture Gold Loan Waiver Scheme
- 15 FAQs for Agriculture Gold Loan
- 15.1 ✅ How quickly will my loan application be prepared?
- 15.2 ✅ How is the interest rate on Gold Loan and Gold Overdraft determined?
- 15.3 ✅ On gold overdraft how would I pull out reserves, Can I utilize net banking for deposit?
- 15.4 ✅ Will the horticulture gold loan have profit from any of the branches?