Andhra Bank Gold Loan Key Features
|Loan Amount||Up to Rs. 1 Crore (Salaried)|
|interest Rate||Starting 10.70%|
|Gold Required||Minimum 18Cr|
|Processing Fee||1% of the Principal Loan Amount or Rs. 1000 (Whichever Is Higher)|
|Repayment Tenure||3 Months to 12 Months|
|Repayment Scheme||Bullet Payment Scheme|
Advantages of Taking Andhra Bank Gold Loan
- No income and salary criteria – for Andhra Bank Gold Loan you do not require any documentation or validation of income/salary. So even if you are unemployed and do not have a regular source of income, you can still avail a gold loan. This is because you are pledging a valuable asset, i.e. Gold in return for the money taken.
- Can be provided in cases of bad credit history as well as low-income level.
- Relatively Lower interest rates – Another advantage of taking a Gold Loan is that they are available at low-interest rates, say 10-16% annually in comparison to the personal loans interest rates of 15-26% per annum.
- Repay only the Interest – You have the option to pay only the interest during the tenure of the entire gold loan, and at the end of tenure, you can pay the full borrowed amount in a single shot.
- Total Convenience – The most convenient of all the loans is a 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.
- Less processing time – No tedious and lengthy documentation is required in case of gold loans. 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 Andhra Bank Gold Loan.
How much Loan can I get from Andhra Bank Gold Loan
|Andhra Bank Gold Loan Rates/ Gram|
|Weight||Loan on 18Cr Gold||Loan on 20Cr Gold||Loan on 22Cr Gold||Loan on 24Cr Gold|
About Andhra Bank Gold Loan
Andhra Bank offers you a monetary value against your gold ornaments. It is an easy option for you whether you are jobless or have a bad credit score, you can still fulfil your needs through Andhra Bank Gold Loan. It is a loan that can be used to meet any kind of financial emergency. The Bank provides you with 75% of the market value of Gold. Andhra Bank Gold Loan has different schemes, one of which is “AB Swarna Loan Scheme” especially for Non-Agricultural Gold Loan (NAGL) segment.
Andhra Bank Gold Loan Eligibility
Andhra Bank Gold Loan is a financial product provided by the Bank which caters to your needs of short term or long term funds. It is easy to avail commercial service provided by banks at low rates of interest and also requires minimal documentation for the same. Bank gives you the Loan amount within an hour of application as the valuation and approval process is quickly done, keeping in mind your urgency regarding the need for funds.
|Age||18-70 years of age|
|Employment Status||Salaried, Self-Employed|
|Gold Quality||Minimum 18 Carats (10 grams)|
Andhra Bank Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by Andhra Bank wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the Bank in exchange for the funds. The entire Andhra Bank Gold Loan process is hassle-free and easy to get with minimal documentation. The Bank ensures high protection of your gold ornaments till the loan is closed.
A duly filled and signed Gold Loan application form shall be submitted along with the following documents:
|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||Agricultural Land Proof and Income Statement of the applicant have required in the case the applicant wants the Gold Loan for Agricultural purposes.|
Andhra Bank Gold Loan Interest Rate, Fees and Charges
Andhra Bank Gold Loan can fulfil 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 Bank are lower in comparison to other loans because it is a fully secured loan.
|Interest Rate||Starting 10.70%|
|Processing Fee||1% of the loan amount or ₹1000 whichever is higher|
You can call on 9878981144 to avail the Best Deals and Offers on Andhra Bank Gold Loan.
Andhra Bank Gold Loan Apply Online
Applying for the Gold Loan service is a hassle-free and straightforward process which 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 digital platform, where you will have just to fill a form without any registration.
- Our Relationship Manager will contact you and assist you throughout the Gold Loan process and guide you in fulfilling your financial needs.
- You will get personalised service, giving you the option of comparing and taking the best deal according to your needs without any extra charges.
- With Dialabank, you can compare the different offers and schemes from different banks based on funding provided and the rate of interest charged for choosing the best loan deal for yourself.
Andhra Bank Gold Loan EMI Calculator
How to Pay Your Andhra Bank Gold Loan EMI?
Your Andhra Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with Andhra Bank, Standing Instruction is the best method of r repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the Andhra Bank account you indicate.
- Electronic Clearing Service (ECS): This mode can be utilised if you have a non-Andhra Bank account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-Andhra Bank account at your closest Andhra Bank Loan Branch. A new arrangement of PDCs should be submitted on time. It will be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.
Andhra Bank Gold Loan Contact Number
Andhra Bank Gold Loan offers at the Lowest Interest rate. Being one of the significant gold loan suppliers, Andhra Bank understands the necessities of the clients and disburses the loan amount in 60 minutes. The Gold promised is securely secured in the bank locker, and you don’t need to stress over its safety. You just need to give a call on 9878981144 if you have any query or you want to avail the service.
Gold Ornaments Accepted by Andhra Bank
Gold jewellery such as Gold Bangles, Gold rings, Gold anklets, and Gold necklaces, all of these are accepted for availing a Gold Loan.
Quality: The quality of Gold should lie between 18 Carat to 22 Carat. Aby gold ornament which is 24 Carat, cannot be used for availing a gold loan.
Use of Andhra Bank Gold Loan
The funds acquired by availing the Andhra Bank Gold Loan service can be used for several purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, etc.
- For all your business needs, such as buying raw material, expansion of business, etc.
- You can also avail a Gold Loan for agricultural purposes. The Bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.
FAQs About Andhra Bank Gold Loan
✅ What is Andhra Bank Gold Loan?
Andhra Bank gives the facility of Gold Loan to fulfil the monetary requirements of the borrower at attractive interest rates for a tenure of your choosing. The bank provides convenient methods for repayment of the loan as well along with a transparent process for borrowing.
✅ How can I get the Gold Loan from Andhra Bank?
Gold Loan from Andhra Bank can be availed from any of the Loan Branches of the Bank. To know the nearest Andhra Bank Gold Loan Branch, you can apply online at Dialabank or call and speak with our Relationship Manager on 9878981144. Our team is trained to advise you on the process and guide you to the nearest branch.
✅ How much Gold Loan can I get per gram in Andhra Bank?
The rate per gram is a factor of the market rate plus the markdown by the Bank and the valuation of your gold ornaments. The total quantum of loan that you can get from Andhra Bank is calculated keeping into factor the appraiser’s value which is dependent on the purity, fineness and net weight of your gold ornaments pledged.
✅ How does Andhra Bank Gold Loan work?
Just apply for Andhra Bank Gold Loan by visiting the nearest bank loan branch or through Dialabank’s digital platform to get the best deal. Go to the nearest bank branch and get your gold evaluated. If you accept the offer made by the banker based on your gold evaluation, you get quick disbursement of funds.
✅ What is Gold Loan Interest Rate in Andhra Bank?
Gold Loan interest rate at Andhra Bank starts at 10.70% and majorly depend upon the amount of the loan to be borrowed and the quality of the gold that is to be pledged. You can also get a low-interest rate if you have a good relationship with the bank.
✅ How to check Gold Loan status in Andhra Bank?
If you wish to check the status of your Andhra Bank Gold Loan you can do so by contacting the customer care executive or visiting the nearest loan branch of the bank.
✅ How to calculate Gold Loan Interest in Andhra Bank?
For calculating the Interest on your Gold Laon, you just need to use Dialabank’s EMI Calculator which gives you the exact amount of Interest that will be charged from you on your Gold Loan.
✅ What is the maximum loan amount I can avail on Gold Loan from Andhra Bank?
You can get a maximum loan of Rs, 1 crore if you are a salaried individual who can provide the necessary income proofs as demanded by the bank. You can get a maximum loan of Rs 15 lacs if you cannot show your income documents.
✅ What is the loan tenure of Andhra Bank Gold Loan?
Andhra Bank offers a loan tenure of 3 to 12 months on its Gold Loan product and the choice of the borrower to decide upon the final tenure. You can also repay the amount before the period of 3 months but you may be charged with a prepayment fee for that.
✅ How much Processing Fee is applicable on Andhra Bank Gold Loan?
Andhra Bank offers a transparent loan process where every charge or fee is stated to the borrower beforehand. These charges are minimal and are also waived off in some cases. Andhra Bank charges a prepayment fee of 1% of the principal amount or Rs 1000 whichever is the highest amongst the two.
✅ What are the charges for renewal in Andhra Bank Gold Loan?
Andhra Bank offers a renewal of its Gold Loan product for another term at low processing charges which is also nil in some cases.
✅ What are the charges for Prepayment in Andhra Bank Gold Loan?
There are minimal additional charges when it comes to Andhra Bank Gold Loan and for the prepayment of your Gold Loan, Andhra Bank charges no additional charges.
✅ How to renew Andhra Bank Gold Loan Online?
Renewal can be done by visiting the nearest Andhra Bank Loan Branch and getting the gold revalued at new market prices. You need to carry all loan-related documents with you and you might be asked to fill a form for renewal as well along with some additional minimal charges.
✅ How to Pay Andhra Bank Gold Loan Interest Online?
You can repay the Andhra Bank Gold Loan using various services and methods provided by the bank. For more information on this, you need to visit the nearest bank branch.
✅ What if I can’t pay the interest on Andhra Bank Gold Loan for 3 months?
If someone defaults payment for the Gold Loan from Andhra Bank the bank charges a penalty fee from the borrower and also auction the gold for the recovery of the amount if the amount is not paid within the due time.
✅ How can I apply for EMI Moratorium on Andhra Bank Gold Loan?
You can apply for EMI Moratorium by visiting the nearest Bank branch as you first have to check with the bank on whether you are eligible for the service or not as it is available to only a specific set of loans.
✅ How to pay Andhra Bank Gold Loan through Credit Card?
You can pay your Andhra Bank Gold Loan through a credit card using the Paytm e-wallet on your smartphone. You also get additional offers and cashback when you opt for this payment method.
Table of Contents
- 1 Andhra Bank Gold Loan Key Features
- 2 Advantages of Taking Andhra Bank Gold Loan
- 3 How much Loan can I get from Andhra Bank Gold Loan
- 4 About Andhra Bank Gold Loan
- 5 Andhra Bank Gold Loan Eligibility
- 6 Andhra Bank Gold Loan Documents Required
- 7 Andhra Bank Gold Loan Interest Rate, Fees and Charges
- 8 Andhra Bank Gold Loan Apply Online
- 9 Andhra Bank Gold Loan EMI Calculator
- 10 How to Pay Your Andhra Bank Gold Loan EMI?
- 11 Andhra Bank Gold Loan Contact Number
- 12 Gold Ornaments Accepted by Andhra Bank
- 13 Use of Andhra Bank Gold Loan
- 14 FAQs About Andhra Bank Gold Loan