Allahabad UP Gramin Bank Gold Loan

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Unlock the Real Value of your Gold
Rates as low as 1% p.m.
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

About Allahabad UP Gramin Bank Gold Loan

Allahabad UP Gramin Bank is known as a regional rural bank (RRB) in Uttar Pradesh, India. The bank was set up in 2010 with the amalgamation of the erstwhile Lucknow Kshetriya Gramin Bank and Sitapur as well as Triveni Kshetriya Gramin Bank, Orai. Allahabad Bank sponsors it. The bank was created on 2 March 2010  under gazette notification issued by the Ministry of Finance Sub-Section (1) of Section 23 A of the RRB Act, 1976. Allahabad UP Gramin Bank is headquartered in Banda.The bank provides financial services to people like personal loan, Gold Loan, and Loan against property and many more.

Allahabad UP Gramin Bank Gold Loan Interest Rates

In general Loan on Gold, the credit is available at a low-interest rate. Moreover, the reason behind that the gold loan comes in the category of secured loans. So the Gold interest rates are less than that of personal loan or any other kind of loans. Though the Gold loan rate keeps on changing with the passage of time as well as person to person. The  Allahabad UP Gramin Bank Gold Loan is available at 1% per month interest rate.

1.Allahabad UP Gramin Bank Gold LoanInterest rate – 10.70 %

2. Also, offer low processing fee –  0.85%

3. Further, pre-closer charges range from 0 – 2 %.

4. Besides Tenure minimum six months; maximum five year

5. Lastly Amount – Thousand to a crore

Gold Forms Accepted by Bank

The applicant who wants to avail a Gold Loan should keep the following things in mind:
1. First of all, Gold Jewelry include Bangles, necklace, earrings or any other form of jewelry.
2. Also, Gold Coins are not approved for a Gold Loan.
3. Finally, Bars of Gold also cannot be used.

Eligibility for Allahabad UP Gramin Bank Gold Loan

1. Firstly, The age of the customer should not be less than 18 years.

2. Secondly, The applicant should be a citizen of India.

3. The applicant should have gold in an appropriate form.

4. The quality of the gold should be 18 karats to 22 karats.

Features of Allahabad UP Gramin Bank Gold Loan

1. Great Availability: First and foremost, Loan against gold is a secured service. Therefore the processing of this loan is fast as the bank is mostly concerned with the quality and weight of the gold.
2. Low Rate of Interest: In contrast to services like personal loans, Allahabad UP Gramin Bank Gold Loan has the least interest rate as banks keep security against the loan.
3. Negligible foreclosure charges: Generally, banks do not have any prepayment charges, but some banks / NBFC’s can charge a penalty of just 1%.
4. Safety of Ornaments: The ornaments are more secure with the banks due to the strict security In the banking institutions which is quite less at homes.
5. No qualification of Credit Score: As this is a secured loan, therefore, the applicant does not have to worry about bad loan repayment history.
6. Income-proof not required: The salary of an applicant is not an issue for availing a gold loan as it depends majorly on the weight and quality of gold available with the applicant.
7. No loan processing charges: Another advantage is that the applicant does not have to pay extra for this service as the approval solely depends upon the asset kept as security.
8. Flexible tenure: In addition to other advantages,  the applicant can choose the tenure of the loan according to their requirements and needs.
9. Only payment of interest: Lastly, the applicant has the option to pay the principal amount at the end of the tenure and only the interest every month.

Allahabad UP Gramin Bank Gold Loan Documentation

1. Firstly, an Identity Proof is required. It can be an Aadhar Card/ Voter ID card/ PAN Card/Driving License/ passport.

2. Secondly, One proof of residence is also required while applying for a gold loan; it can also be an Aadhar Card/ Card/ Voter ID card/ PAN Card/Driving License/ passport/Ration Card/Electricity/water bills of last three months with the name of the applicant.

3. Two colored photographs.

Additional Documentation for Allahabad UP Gramin Bank Gold Loan

The bank needs a Proof of ownership of Land if you are applying for an agriculture gold loan.

1. Land Proof – In the case of Agriculture Loan on gold of more than Rs. 1 lac. The proof is not needed for allied agriculture purposes.

2. Required a Demand Promissory Note – Certificate by the Jewel Appraiser (Bank will arrange).

3. Besides Income Proof of Salary Certificate as well as Form No.16

Why should Farmers choose Gold Loan?

Gold Loan is a good service for the farmers. Because, if the loan amount has to be used for farming purposes. Then, the banks provide a further discount on the interest rates. Therefore, the farmers can avail the service of the gold loan at a discount of 1% on the interest rate. Finally, if you want to use the loan amount for agricultural purposes and you have gold jewelry then, Allahabad UP Gramin Bank Gold Loan is the best option for you.

Allahabad UP Gramin Bank Gold Loan Process

1. The bank checks the purity of the gold.

2. The bank verifies the market rate for gold and the price of the previous day is take into consideration

3. The LTV (Loan to Value) set by the RBI is 75%.

4. If you have acknowledged the Gold loan amount and terms, the lender processes the application. The processing fees & other charges deducted from your Gold loan amount.

5. After signing the agreement, the loan amount is disbursed to your account.

Why Dialabank for online Allahabad UP Gramin Bank Gold Loan?

1. Firstly offers a very easy process of application for Online Gold Loan

2. After that, the applicant gets a good comparison of the gold interest rates of other banks as well.

3. Furthermore, the company provides the document pickup facility from your doorstep.

4. Lastly, you will get the best as well as the lowest interest rate. Moreover, for more information call 9592046860 or 60011600 with your city code.

Allahabad UP Gramin Bank Gold Loan


Q. 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.

Q. 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.

Q. What happens when you don’t repay a Gold Loan?

 If the applicant is unable to repay the gold loan on time, then the bank is liable to sell his gold ornaments.

 Q. To get a gold loan do I need a co-applicant?

 No, to avail Gold loan you don’t need any co-applicant

Q.  Gold loan better than a Personal loan?

Yes, the 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.

Q. 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.

Q. 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.

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