Allahabad Bank Gold Loan

Gold Rate: ₹ 5,121 Per Gram

⍟ Interest Rate 7.0% p.a. ⍟

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Unlock the Real Value of your Gold
Lowest Rate of Interest
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

Allahabad Bank Gold Loan Key Features

Loan Amount Rs. 50000 to Rs. 50 Lakh
Allahabad Bank Gold Loan Interest Rate 7.0% Per Annum
Allahabad Bank Gold Loan Rate Per Gram Rs.5,121
Processing Fee 1% of the Principal Loan Amount or Rs. 1000 (Whichever Is Higher)
Prepayment Charges Nil
Repayment Tenure 6 Months to 60 Months
Repayment Scheme Bullet Payment Scheme, EMI Scheme, Overdraft

Advantages of Allahabad Bank Gold Loan

  1. No income and salary criteria– Gold loans do not require any documentation or validation of income or salary of the person. So even if you are unemployed and unsalaried, you can still avail of an Allahabad Bank Gold Loan. This is because you are pledging a valuable asset, i.e. gold, in return for the money. Can be provided in cases of bad credit history as well as a low-income level
  2. Relatively Lower interest rates– Another advantage of taking a gold loan is that they are available at low-interest rates, say 7.0% annually in comparison to the personal loans interest rates of 15-26% per annum.
  3. You need to pay the interest only– You have the advantage to return only the interest amount throughout the total gold loan tenure. At the termination of the mandate, you can return the full rented amount in a one-shot.
  4. Total Convenience– The most convenient of all the loans is an Allahabad Bank Gold Loan. This is because in this all you have to do is pledge your gold with a bank or a private finance institute and the work is done. You can get a loan up to 80% or more of its market value immediately.
  5. Less processing time– No tedious and lengthy documentation is required in the case of Allahabad Bank Gold Loan. Hence it can be resorted to in times of urgent needs. Banks take a few hours in the processing of the gold loan whereas some NBFC’s state that they only take a few minutes for the same task.

You can call on 9878981144 to avail the Best Deals and Offers on Allahabad Bank Gold Loan.

How much loan can I get from Allahabad Bank Gold Loan?

To the latest, Allahbad Bank Gold Loan Rate Per Gram is Rs.5,121. 22-carat jewelry is calculated at a maximum LTV of 75%. Loan per gram keeps on changing every day as per the price of the gold. Mentioned below the table explains the detailed shift in prices:

Allahabad Bank Gold Loan Per Gram

Allahabad Bank Gold Loan Rates/ Gram
Weight Loan on 18Cr Gold Loan on 20Cr Gold Loan on 22Cr Gold Loan on 24Cr Gold
1 gm 2440 2722 3005 3287
10 gms 24400 27220 30050 32870
20 gms 48800 54440 60100 65740
30 gms 73200 81660 90150 98610
50 gms 122000 136100 150250 164350
100 gms 244000 272200 300500 328700
200 gms 488000 544400 601000 657400
300 gms 732000 816600 901500 986100
500 gms 1220000 1361000 1502500 1643500

About Allahabad Bank Gold Loan

Allahabad Bank Gold Loan

A club of Europeans established Allahabad Bank in the town of Allahabad. Allahabad Bank has grown up with its goods Allahabad Bank Gold Loan to help customers like producers, Farmers, and enduring customers at their wrong time. It is an engaging loan agreement whose qualification standards are simple to manage. One can put his gold as a guarantee to the bank and can receive about 70 % of the loan amount with comfort.

  • Allahabad Bank Gold Loan Interest Rate is 7.0% per annum
  • Allahabad Bank Gold Loan Rate Per Gram is ₹ 5,121.
  • Allahabad Bank Gold Loan Tenure: Up to 60 months
  • Allahabad Bank Gold Loan Processing Fee is Up to 1.0% or Rs.1000 (whichever is higher).

Know More – Gold Loan Interest Rate

gold loan at 7%

Allahabad Bank Gold Loan Eligibility

Gold Loan is commercial produce given by the bank, which feeds to your demands of short term or long term stocks. It is accessible to avail of financial services administered by banks at cheap rates of interest and needs insignificant documentation. Allahabad Bank gives you the Loan price within an hour of application. The appraisal and endorsement method is instantly done, keeping in mind your necessity concerning the need for supplies.

Major Eligibility criteria for availing the Allahabad Bank Gold Loan is:

Age  18-70 years of age
Nationality Indian
Employment Status Salaries, Self-Employed
Gold Quality Minimum 18 Carats (10 grams)

Allahabad Bank Gold Loan Documents Required

Loan Against Gold is a loan commodity given to the borrowers by the Allahabad Bank wherein supplies are presented for satisfying the financial requirements of the candidate. The gold adornments of the candidate are kept as protection by the bank in trade for the funds. The whole Allahabad Bank Gold Loan method is hassle-free and comfortable to get with minimum documentation. The bank guarantees the high protection of your gold embellishments until the loan is settled.

Documents required for Applying for Allahabad Bank Gold Loan are :

Photographs 2 Passport Size
Identity Proof Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Residence Proof Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)
Agricultural Land Proof Required only if the Loan is taken for Agricultural Purpose

**Any other documents as requested by the bank shall be duly submitted.**

gold loan at 7%

Allahabad Bank Gold Loan Interest Rate, Fees and Charges

A Gold Loan can fulfill all your urgent short term and long term monetary requirements. The rate of interest that you will be charged with depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates offered by the Allahabad Bank are lower in comparison to other loans because it is a fully secured loan.

Allahabad Bank Gold Loan Interest Rate 7.0% Per Annum
Processing Fee 1% of the loan amount or ₹1000 whichever is higher
Prepayment/Foreclosure Charges Nil

Types of Allahabad Bank Gold Loan

There are 3 types of Allahabad Bank Gold Loans:

  1. Allahabad Bank Gold Loan for Agriculture Purpose – The bank provides a discount of 1% on the interest rate if taken for Agricultural purposes. You just need to present the agricultural land proof for availing the discount along with the other documents that are required for it.
  2. Allahabad Bank Gold Loan for Personal Consumption –  The Bank provides the Loan at attractive rates of interest to people looking for quick funds to fulfill their personal needs such as weddings, trips, etc. The bank provides the disbursal for the loan quickly with no prepayment charges against the loan.
  3. Allahabad Bank Gold Loan for Business Purpose –  The bank provides Gold Loans at attractive rates of interest to people looking out for additional funds for business consumption. The bank provides special rates based on the amount of the loan to be borrowed.

You can call on 9878981144 to avail the Best Deals and Offers on Allahabad Bank Gold Loan.

Allahabad Bank Gold Loan Apply Online

Applying for the Allahabad Bank Gold Loan service is a hassle-free and straightforward process that can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with necessary information regarding yourself and the Gold Loan you wish to avail. You will then need to visit the branch with the required documents and your gold.

You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.

  • Visit Dialabank‘s online program, where you will have to simply fill a form without any enrollment.
  • Our Association Manager will talk to you and help you complete the Gold Loan process and escort you to meet your commercial requirements.
  • You will get personalized aid, providing you with the choice of analyzing and catching the most suitable deal according to your necessities without any additional charges.
  • With Dialabank, you can distinguish the various offers and systems from distinctive banks based on funding given and the rate of interest required for deciding the best loan opportunity for yourself.

 

Allahabad Bank Gold Loan EMI Calculator

 

 

How to Pay Your Allahabad Bank Gold Loan EMI?

Your Allahabad Bank gold advance can be reimbursed in the following three different ways.

  1. Standing Instruction (SI): Existing customers of Allahbad Bank can raise their same bank account with the loan and the EMI of the loan will be taken automatically at the month-end form the same bank.
  2. Electronic Clearing Service (ECS): Customers new to the bank and with no previous relation to it can use this method to repay. They can attach their bank account to the loan and the EMI will be deducted from their bank account at the end of the cycle.
  3. Post-Dated Checks (PDC): PDC’s is one of the methods widely used for the repayment of the loan. The borrower can submit its PDC’s at the nearest Allahabad Bank Loan Branch of their EMI.

Gold Ornaments Accepted by Allahabad Bank

  1. The gold will be accepted in the form of coins, but the coins should weigh less than 50 grams, besides that, gold bars can also be accepted.
  2. Gold jewelry in any form is accepted.
  3. Gold is raw form is not accepted.
  4. The gold ornaments should be of 18 karats to 22 karats purity.

Uses of Allahabad Bank Gold Loan

The funds acquired by availing the Allahabad Bank Gold Loan service can be used for several purposes such as:

  • To bankroll any individual responsibilities such as a marriage, hiking, payment of immense coaching fees, etc.
  • For all your marketing requirements, such as purchasing raw material, enlargement of company, etc.
  • You can also avail of a Gold Loan for agricultural schemes. The Allahabad Bank suggests more moderate rates of interest for Gold Loans that are utilized for farming or associated projects.

FAQs About Allahabad Bank Gold Loan

What is Allahabad Bank Gold Loan?

Allahabad Bank gold loan is a scheme that can be used to fulfill any commercial or personal needs of the borrower. Bank provides these loans at competitive interest rates for a maximum tenure of 60 months. Your gold is safe with the bank and can be released once you repay your loan.

How can I get the Gold Loan from Allahabad Bank?

You can get a gold loan from Allahabad Bank by applying for Gold Loan with DialaBank from the comfort of your home and can also repay the same online. You will need to visit the branch in person for the valuation process.

How much Gold Loan can I get per gram in Allahabad Bank?

Allahabad Bank Gold Loan Rate Per Gram is Rs.5,121. You can get the loan starting from the amount.

How does Allahabad Bank Gold Loan work?

Allahabad Bank provides Gold Loans at nominal interest rates for a maximum tenure of 60 months and a maximum amount of ₹25 lacs. You can apply online and avail the service through the comfort of your home or walk-in at the nearest branch with gold and the required documents.

After submission of the application, the valuation of your gold is done after which the amount and the rate of interest are agreed upon. Once approved, the loan amount is disbursed within hours.

What is Gold Loan Interest Rate in Allahabad Bank?

Allahabad Bank Gold Loan Interest rate is 7.0% per annum.

How to check Gold Loan status in Allahabad Bank?

You can check your gold loan status for Allahabad Bank using the mobile number and date of birth or the reference number on the bank’s website by using the net banking feature of the bank. You can also contact the customer care executive or physically visit the branch to know the status.

How to calculate Gold Loan Interest in Allahabad Bank?

You can calculate the gold loan interest payable in Allahabad Bank by using Dialabank’s EMI Calculator which is a simple and free tool and gives accurate results with basic information regarding your loan. 

What is the maximum loan amount I can avail on Gold Loan from Allahabad Bank?

The maximum loan amount you can avail from Allahabad Bank from amounts between Rs. 50000 to Rs. 50 lakhs depending upon the quality and the quantity of the jewelry that you can pledge with the bank. 

What is the loan tenure of Allahabad Bank Gold Loan?

Loan tenure for Allahabad Bank gold loan can be of your choosing and can range from 6 months to 60 months depending on your repayment capabilities and the amount of loan borrowed. 

How much Processing Fee is applicable on Allahabad Bank Gold Loan?

Processing Fee applicable on Allahabad Bank Gold Loan is 1% of the principal amount of Loan or Rs 1000 whichever is greater amongst the two. 

What are the charges for renewal in Allahabad Bank Gold Loan?

The charges for renewal in the Allahabad Bank gold loan are minimal. In some cases, it can also be NIL depending on the amount and the relationship of the borrower with the bank. 

What are the charges for Prepayment in Allahabad Bank Gold Loan?

The charges for pre-payment in Allahabad Bank is 1% of the outstanding amount.

How to renew Allahabad Bank Gold Loan?

You can renew your Gold Loan by visiting the branch and asking your loan officer for the same. A renewal form has to be submitted along with any fees as applicable. Upon revaluation of your gold new terms are decided, and your loan is renewed.

How to Pay Allahabad Bank Gold Loan Interest Online?

You can pay your Gold Loan Interest in Allahabad Bank by giving a standing instruction on your bank account for the monthly deduction of EMIs or through ECS if your account is with another bank.

What if I can’t pay the interest on Allahabad Bank Gold Loan for 3 months?

If you do not pay the Allahabad Bank gold loan amount for 3 months, the bank charges a penal fee, and if these defaults are continuous, the bank has the right to auction your gold publically.

How can I apply for EMI Moratorium on Allahabad Bank Gold Loan?

You can apply for EMI Moratorium on Allahabad Bank by visiting the nearest Bank branch and applying for it in person as it cannot be done online. 

How to pay Allahabad Bank Gold Loan through Credit Card?

You cannot pay the Allahabad Bank gold loan through credit cards according to RBI’s guidelines.

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