About Bandhan Bank Gold Loan
Bandhan Bank is the best and trustworthy bank in India. This bank is a financial and banking company headquartered in Kolkata, West Bengal, India. Bank offers different products like Consumer banking, Loans, Mortgage loans, Private banking, and Microfinance. Bank provides easy access to cash to customers.
If you need immediate funds to overcome the financial crisis or to fulfill the personal needs, business expansion, medical emergency, then Bandhan Bank is the right choice for you. Keeping Gold in your Safe or locker will not going to help you but taking a loan against Gold will definitely.
Bandhan Bank Gold Loan at a meager rate of interest and provides you with the maximum funding. It will help you in generating cash through demand draft.
|Bandhan Bank Gold Loan at a Glance|
|Interest Rate||Starts at 10.99%|
|Gold Loan Per Gram||Depends on the purity of gold|
|Tenure||Up to 12 months|
|Processing Fee||0 – 2%|
Bandhan Bank Gold Loan Features
- Lower interest rate.
- Faster processing.
- Your Gold is safe and secured in a bank locker.
- You can use the gold loan money for any personal purpose.
- Basic documentation only, No CIBIL score.
- Flexible repayment options as well as lower monthly outflow.
- No processing fees in Bandhan Bank Gold Loan.
- Low or no foreclosure charges.
- Bad credit history, not an issue.
- Instant Processing and Disbursal.
- You can borrow in thousands to a crore.
Know More – Gold Loan Features and Benefits
Forms of Gold Accepted for Bandhan Bank Gold Loan
- The purity of the gold ornament should lie in between 18 Karats to 22 Karats.
- The bank accepts the gold in the form of ornament.
- Bank refuses to accept the raw gold for Gold loan.
- Furthermore, you can get a gold loan by using gold coins that weigh less than Grams.
Bandhan Bank Gold Loan Interest Rate
Bandhan 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 Bandhan Bank are lower in comparison to other loans because it is a fully secured loan.
The Gold Loan interest rates in the Bank starts at 10.70% per annum.
Bandhan Bank also charges some additional fees along with the rate of interest in some cases, which are :
- Processing fee – 1% of the loan amount or ₹1000 whichever is higher
- Documentation charges
- Gold Valuation charges
- The bank charges no additional fees for part payment or the foreclosure of the Gold Loan.
Bandhan Bank Gold Loan Rate per Gram
The amount of Gold Loan that you get per gram of your gold is directly dependent on the purity of your gold and the current prevailing rates of that purity of Gold in the market. The rate of gold changes daily in the market and therefore, the Bandhan Bank Gold Loan Rate per Gram also varies every day. Bandhan Bank gives a funding of up to 70% of the total market price of your Gold keeping the remaining 30% as security margin.
The amount that you will get for a gram of Gold varies depending on its purity and the market price for your Bandhan Bank Gold Loan.
**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**
Bandhan Bank Gold Loan Apply Online
Applying for the Bandhan Bank Gold Loan service is a simple and hassle-free 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 basic 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 to just 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 on the basis of funding provided and the rate of interest charged to choose the best loan deal for yourself.
Bandhan Bank Gold Loan Eligibility
Gold Loan is a financial product provided by the Bandhan Bank which caters to your needs of short term or long term funds. It is easy to avail financial service provided by banks at low rates of interest and also requires minimal documentation for the same. Bandhan 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.
Major Eligibility criteria for availing the Bandhan Bank Gold Loan is:
- The applicant should be a permanent Indian citizen who is at least 18 years of age and not more than 70 years (In most cases).
- The applicant should be the rightful owner of the Gold that he/she wishes to pledge with the bank.
- The Minimum weight of Gold that can be pledged is 10 grams and the applicant becomes ineligible for Gold Loan if he/she has less than 10 grams of gold.
- The Minimum purity of Gold required to be eligible for Loan is 18 carats. Also, Gold coins issued by banks are accepted up to 50 grams (In most cases).
- 24 Carat Gold in any form, Gold bars, Gold biscuits, and etc. are not recognised as valid forms of Gold to be kept as security for the Bandhan Bank Gold Loan.
- A good Credit or CIBIL score is not required to apply for the Gold Loan as it is a fully secured financial service against your Gold as collateral security.
Bandhan Bank Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Bandhan 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 Bandhan Bank Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures high security of your gold ornaments till the loan is closed.
Documents required for Applying for Bandhan Bank Gold Loan are :
A duly filled and signed Gold Loan application form shall be submitted along with the following documents:
- 2 latest passport-sized photographs
- Basic KYC documents :
- Identity Proof (Only one is required): Aadhar Card, Pan Card, Passport, Voter ID, and etc.
- Residence Proof (Only one is required): Aadhar Card, Pan Card, Voter ID, Ration Card, Electricity or Water Bills in the name of the applicant, or Rental Agreement(In case you live in a rented house).
- Agricultural Land Proof and Income Statement of the applicant are required in the case the applicant wants the Bandhan Bank Gold Loan for Agricultural purposes.
- If you are an existing customer of the bank you may not be required to submit any documents as the bank will already have your verified details.
**Any other documents as requested by the bank shall be duly submitted.**
How to apply for the Bandhan Bank Gold Loan?
Applying for the Gold loan in Bandhan Bank is effortless. So take a benefit of evolved technology and apply for a Gold loan without going anywhere.
- You have to visit Dialabank and need to fill up the application form.
- Then Customer representative of the Bandhan Bank will contact you and confirm some of the details. Then they will let you know the eligibility and fix your appointment with the banker.
- The banker will come to your doorsteps to collect the required.
- You need to visit once at the time of submission of Gold. After that, you will enter the bank with the gold and exit with the sanctioned loan.
Use of Bandhan Bank Gold Loan
The funds acquired by availing the Bandhan Bank Gold Loan service can be used for a number of purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, and etc.
- For all your business needs such as buying raw material, expansion of business, and 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 Bandhan Bank Gold Loan
Q. How much Gold Loan can I get per gram in Bandhan Bank?
The rate of Gold Loan per gram is dependent on the quality of your gold and the current rate of gold in the market. Bandhan Bank offers Gold Loan at a low rate of interest and provides you with the maximum funding.
Q. What is Bandhan Bank Gold Loan?
Bandhan Bank Gold Loans are loans against gold ornaments that are available for eligible applicants at low rate of interest for a period of 6 to 36 months. The minimum amount of loan that can be taken is Rs. 10000 and the minimum amount of gold to be pledged is 10 grams. You can use this amount to fulfill any emergency requirement of funds whether personal or professional.
Q. What is the Gold Loan interest rate in Bandhan Bank?
The rate of interest charged by the bank on Gold Loan ranges from 10.99% to 18% depending on the amount of loan. The bank also charges a processing fee of 0-2%.
Q. How to pay Bandhan Bank Gold Loan online?
You can pay the EMI of the Bandhan Bank Gold Loan online using the net-banking facility of the bank. However, you will have to visit the bank and show the receipt to the executive to receive your NDC.
Q. How to apply Gold Loan in Bandhan Bank?
You can apply for a Gold Loan at Bandhan Bank either by giving a visit to the branch with your gold and basic KYC documents or online through Dialabank’s digital platform.
Q. How to renew Bandhan Bank Gold Loan online?
You can easily renew your Gold Loan by contacting your loan officer in your branch. Your gold will be revalued and your loan will be renewed for another tenure.
Q. How to take Gold Loan from Bandhan Bank?
The Bank provides maximum funding off 75% of your Gold’s market price. With low rates of interest and tenure of your choosing between 6 to 36 months, Bandhan Bank Gold Loan can be your answer to all your financial needs.
Q. What is Gold Loan in Bandhan Bank?
Bandhan Bank now gives its customers the option to take loans against their gold. The Bank does not check the income proof or credit score in this loan as it is a fully secured loan. The rate of interest varies according to the amount of the loan. You can also apply online at Dialabank.com to get the best offers and deals.
Q. How to get Bandhan Bank Gold Loan?
Bandhan Bank Gold Loan comes with easy processing and quick disbursement. The bank offers a loan of a minimum of Rs. 10000 at attractive rates of interest and tenure of your choosing. You can easily get a loan by taking your gold to the nearest bank branch.
Q. How to check Bandhan Bank Gold Loan status?
You can check your Gold Loan status with Bandhan Bank by contacting your loan officer either in person or over a call.
Q. How to close Bandhan Bank Gold Loan?
To close your Bandhan Bank Gold Loan you will need to pay the outstanding loan amount. You can do so either online via net-banking or in-person through a cheque or DD. Upon verification of your payment, the bank will return back your Gold to you.
Q. How to renew Bandhan Bank Gold Loan?
To renew your Bandhan Bank Gold Loan you will have to visit the branch with all the documents related to your loan and apply for a renewal. When the revaluation process of gold is complete. your loan will be renewed for another tenure.
Q. What happens if someone defaults Bandhan Bank Gold Loan?
If someone defaults Bandhan Bank Gold Loan the bank charges a penalty fee on the amount due and the interest payable. The bank can also auction the gold to recover the amount if further defaults are made.
Q. How many branches of Bandhan Bank Gold Loan?
Bandhan Bank has over 4,280 banking outlets pan-India to serve your daily banking needs.
Table of Contents
- 1 About Bandhan Bank Gold Loan
- 2 Bandhan Bank Gold Loan Features
- 3 Forms of Gold Accepted for Bandhan Bank Gold Loan
- 4 Bandhan Bank Gold Loan Interest Rate
- 5 Bandhan Bank Gold Loan Rate per Gram
- 6 Bandhan Bank Gold Loan Apply Online
- 7 Bandhan Bank Gold Loan Eligibility
- 8 Bandhan Bank Gold Loan Documents Required
- 9 How to apply for the Bandhan Bank Gold Loan?
- 10 Use of Bandhan Bank Gold Loan
- 11 FAQs About Bandhan Bank Gold Loan
- 11.1 Q. How much Gold Loan can I get per gram in Bandhan Bank?
- 11.2 Q. What is Bandhan Bank Gold Loan?
- 11.3 Q. What is the Gold Loan interest rate in Bandhan Bank?
- 11.4 Q. How to pay Bandhan Bank Gold Loan online?
- 11.5 Q. How to apply Gold Loan in Bandhan Bank?
- 11.6 Q. How to renew Bandhan Bank Gold Loan online?
- 11.7 Q. How to take Gold Loan from Bandhan Bank?
- 11.8 Q. What is Gold Loan in Bandhan Bank?
- 11.9 Q. How to get Bandhan Bank Gold Loan?
- 11.10 Q. How to check Bandhan Bank Gold Loan status?
- 11.11 Q. How to close Bandhan Bank Gold Loan?
- 11.12 Q. How to renew Bandhan Bank Gold Loan?
- 11.13 Q. What happens if someone defaults Bandhan Bank Gold Loan?
- 11.14 Q. How many branches of Bandhan Bank Gold Loan?