Allahabad UP Gramin Bank Gold Loan Features
The gold loan is the perfect solution to raise capital and use the fund when you require money to meet your financial needs and requirements. The Allahabad UP Gramin Bank gold loan is granted depending on the gold, gold coins or gold ornaments so as to fulfil their imperative monetary wants with as low a rate of interest as potential and quicker disbursements.
The bank’s lockers provide much safer security than one’s home’s security. A gold loan is a great way to meet your sudden money demands and requirements.
You can visit Dialabank for more information about gold loans.
Allahabad UP Gramin Bank Gold Loan Eligibility
Minimum and Maximum Age
Note: However, many banks require a minimum age of 23 years
Interest rates are lower for a higher loan amount
Businessmen are increasingly taking gold loans to meet their working capital requirements.
In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans.
Quality of Gold
An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22
However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score
Gold ornaments that can be used for availing loan
Gold with 18-24 carat purity
Employment track record and income proofs
Allahabad UP Gramin Bank Gold Loan Documents Required
At the time of application the following documents are required:
At the time of disbursement the following documents are required:
Allahabad UP Gramin Bank Gold Loan Approval Process
Allahabad UP Gramin Bank Gold Loan Approval Process is carried out completely offline. You can visit any branch of the bank and fill out the application form to avail of a gold loan. The bank will approve your loan after confirming your eligibility and valuating your gold ornaments.
FAQs on Allahabad UP Gramin Bank Gold Loan Approval Process
✅ What is Allahabad UP Gramin Bank Gold Loan?
The Allahabad UP Gramin Bank Gold Loan have secured loans that come with quick payment to meet your urgent financial needs. Gold loans from the bank can be availed at attractive interest rates and with great offers.
✅ What is the maximum gold loan amount I can avail of from Allahabad UP Gramin Bank?
You can avail yourself a maximum of 90% of the gold jewellery’s value from the Allahabad UP Gramin Bank.
✅ What happens to the gold that is placed as collateral?
Once you place gold as collateral for a gold loan, the gold ornaments or coins are held by the bank or NBFC in its secure vault till the loan amount with interest is repaid in full. If the borrower fails to repay the loan amount on time, the institution gains the authority to auction the ornaments.