Andhra Bank Gold Loan Features
Founded on 28th November 1923, Andhra Bank is a medium-sized public sector bank in India. It has 2885 branches and has its headquarter in Hyderabad, Telangana. A gold loan is a secured loan that customers can avail of from Andhra Bank in lieu of gold ornaments like gold jewellery. It is one of the easiest ways to meet your financial urgencies, such as; international education and marriage expenses, medical emergencies, etc. With Dialabank’s easy approval process, you can avail of a gold loan with just a few simple and quick steps.
Features of Andhra Bank Gold Loan are:
- Interest rate: It offers low-interest rates in comparison to other loan options.
- Safety: You can 100% safety and security of your gold ornaments.
- Simple documentation: It provides simple documentation and fast processing of the loan amount.
- Fee: Andhra Bank charges a low processing fee on gold loans.
- Tenure: It also offers flexible loan tenure options.
- Repayments: It provides multiple repayments options.
- Loan amount: Applicants for gold loans can leverage a comparatively higher maximum cap on the loan amount.
- Schemes: Gold loans can be repaid through various schemes.
Andhra 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
Andhra 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:
Andhra Bank Gold Loan Approval Process
You can apply for Andhra Bank Gold Loan by following the below-mentioned steps:
Step 1: Visit the Dialabank.
Step 2: Confirm the required information.
Step 3: You will get required details such as the amount of loan, interest rate, and loan tenure.
Step 4: Proceed with the application and submit the form.
Step 5: Call 9878981166, and our relationship manager will assist you.
FAQs on Andhra Bank Gold Loan Approval Process
✅ How long does it take for the approval of the Gold Loan?
The loan approval process for gold loans is quite fast. If your application meets all the requirements, it takes just an hour to disburse the loan amount.
✅ How to apply for Andhra Bank Gold Loan?
You can apply for Andhra Bank Gold Loan by visiting the branch and enquiring with your financial service provider. You can also apply online with Dialabank and get the offers and deals as per your needs.
✅ Is my gold pledged with the bank safe?
Banks take a lot of precautions while collecting your gold and keep it safe until the loan amount is returned.
Table of Contents
- 1 Andhra Bank Gold Loan Features
- 2 Andhra Bank Gold Loan Eligibility
- 3 Andhra Bank Gold Loan Documents Required
- 4 Andhra Bank Gold Loan Approval Process
- 5 FAQs on Andhra Bank Gold Loan Approval Process