Andhra Bank Gold Loan Key Features
|Loan Amount||Up to Rs. 1 Crore (Salaried)|
|Andhra Bank Gold Loan Interest Rate||7.0% per annum|
|Andhra Bank Gold Loan Rate Per Gram||Rs.5,121|
|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.
- An individual with a bad credit score and low-income level also have a chance to avail.
- Lower Rate of Interest– Low Rate of Interests is an additional benefit of taking Gold Loan. It has low-interest rates in comparison to other loan options available.
- 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.
- Convenient – Gold Loan is considered as the most convenient loan among all other loans. Gaging your gold to the Bank or the Finance institute is the only work to be done for availing it. Get the loan up to 80% of the value of your gold.
- Processing time – Gold loans require the slightest documentation which results in very less processing time. Some of the institutions even provide the facility for processing your loan in minutes.
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 Per Gram – Update December 2020
|Andhra Bank Gold Loan Rates/ Gram w.e.f 1 Dec 2020|
|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 fulfill 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 the “AB Swarna Loan Scheme” especially for the Non-Agricultural Gold Loan (NAGL) segment.
- Andhra Bank Gold Loan Interest Rate is 7.0% per annum.
- Andhra Bank Gold Loan Rate Per Gram is Rs.5,121.
- Andhra Bank Gold Loan Tenure is 12 months.
- Andhra Bank Gold Loan processing fee is 1%.
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 of 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 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 Bank are lower in comparison to other loans because it is a fully secured loan.
|Andhra Bank Gold Loan Interest Rate||7.0% per annum|
|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
You can now apply for Gold Loan from the comfort of your home with very fewer efforts to be followed. Just fill-up the required information regarding you and the Gold loan you want on the institutions’ website. Following this, you have to provide all the needed documents and your gold at the branch.
Apply for the Gold Loan as per your needs with DialaBank following below-mentioned steps:
- Fill a form without any registration at Dialabank’s website online.
- One of our Relationship managers will get in touch with you and lead you through the Gold Loan Process.
- Services like comparison among various options available and going for the best out of them will be provided to you with no hidden charges.
- Dialabank supports you and helps you find offers provided by different institutions like the rate of interest charged and compare against them.
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): SI is the perfect method of repayment for the current record holder with Andhra Bank. EMI will be deducted automatically from the Andhra Bank account mentioned by you at the end of the month to month cycle.
- ECS: Stands for Electronic Clearing Service and is a type of service available for applicants with a Non-Andhra Bank account and wanting to be charged for its EMI directly at the end of the month cycle.
- Post-Dated Cheques (PDC): PDC’s are one of the most reliable ways of repayment of your loan. Submit your post-dated cheques for Non-Andhra bank accounts at the Loan Branch of Andhra Bank nearest to you. Make sure of the submission of new arrangements of PDC’s on time. Please note that the PDC’s will be gathered in Non-ECS areas.
Andhra Bank Gold Loan Contact Number
Andhra Bank ensures the best service to its clients by offering the Lowest Interest Rates on Gold Loans. Andhra Bank fulfills the client’s necessities by providing the loan amount in a period of 60 minutes. Just give a call on 9878981144 for any queries and services to avail.
Gold Ornaments Accepted by Andhra Bank
Gold jewelry 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. Any 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:
- Use it on any personal need such as travel, higher education fees, wedding, etc.
- Gold Loan is also available for agricultural purposes. Gold loans used for Agricultural or any allied purposes are offered with lower interest rates.
- You can use it to finance your own business.
FAQs About Andhra Bank Gold Loan
✅ What is Andhra Bank Gold Loan?
Andhra Bank gives the facility of Gold Loan to fulfill 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?
Andhra Bank Gold Loan Rate Per Gram is Rs.5,121.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?
Andhra Bank Gold Loan Interest Rate is 7.0% per annum and majorly depends 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?
You can check your Andhra Bank Gold Loan status anytime by contacting to Customer care executive or you can even visit the nearest branch of the bank for the same.
✅ How to calculate Gold Loan Interest in Andhra Bank?
For calculating the Interest on your Gold Loan, 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?
Bank provides a loan of a maximum amount of Rs, 1 crore if the applicant is a salaried individual and can provide all the demanded income proofs. In case of no income document, the applicant can avail a loan for the amount up to Rs 15 lakhs.
✅ 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 to 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 of 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 ut you cannot use a credit card as it is prohibited by RBI to pay loans using Credit Card.
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
- 14.1 ✅ What is Andhra Bank Gold Loan?
- 14.2 ✅ How can I get the Gold Loan from Andhra Bank?
- 14.3 ✅ How much Gold Loan can I get per gram in Andhra Bank?
- 14.4 ✅ How does Andhra Bank Gold Loan work?
- 14.5 ✅ What is Gold Loan Interest Rate in Andhra Bank?
- 14.6 ✅ How to check Gold Loan status in Andhra Bank?
- 14.7 ✅ How to calculate Gold Loan Interest in Andhra Bank?
- 14.8 ✅ What is the maximum loan amount I can avail on Gold Loan from Andhra Bank?
- 14.9 ✅ What is the loan tenure of Andhra Bank Gold Loan?
- 14.10 ✅ How much Processing Fee is applicable to Andhra Bank Gold Loan?
- 14.11 ✅ What are the charges for renewal in Andhra Bank Gold Loan?
- 14.12 ✅ What are the charges for Prepayment in Andhra Bank Gold Loan?
- 14.13 ✅ How to renew Andhra Bank Gold Loan Online?
- 14.14 ✅ How to Pay Andhra Bank Gold Loan Interest Online?
- 14.15 ✅ What if I can’t pay the interest on Andhra Bank Gold Loan for 3 months?
- 14.16 ✅ How can I apply for EMI Moratorium on Andhra Bank Gold Loan?
- 14.17 ✅ How to pay Andhra Bank Gold Loan through Credit Card?