About Bangiya Gramin Vikash Bank Gold Loan
Bangiya Gramin Vikash Bank is a regional rural bank which was established in the year 1976. The shareholders of the bank are Government Bank of India, Government of West Bengal and United Bank of India. The Bangiya Gramin Vikash bank operates in 12 districts of West Bengal. also, the head office of this bank is in Baharampur. Finally, there is a wide network of 587 branches which provide a good number of financial services. Like, Gold Loan, Personal Loan, Home Loan and many more.
Why to Choose Bangiya Gramin Vikash Bank Gold Loan?
- Great Availability: First and foremost, Loan against gold is a secured service, therefore the processing of this loan is quick as the bank is mostly concerned with the quality and weight of the gold.
- Low Rate of Interest: In contrast to services like personal loans, Bangiya Gramin Vikash Bank Gold Loan has the least interest rate as banks keep security against the loan.
- Negligible foreclosure charges: Generally, banks do not have any prepayment charges but some banks can charge a penalty of just 1%.
- 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.
- No qualification of Credit Score: As this is a secured loan, therefore, the applicant does not have to worry about bad loan repayment history.
- 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.
- 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.
- Flexible tenure: In addition to other advantages, the applicant can choose the tenure of the loan according to their requirements and needs.
- 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.
Documents Required for Bangiya Gramin Vikash Bank Gold Loan
- Identity Proof: Verification documents required should be specifically among the following:
- Voter ID /Ration card /Aadhar card / Driving License/ Valid Passport
- Signature Proof: The documents required as signature proof includes:
- Passport Copy/Driving License/Banker’s verification/cheque
- Applicant’s Residence Proof: The documents required as proof of residence are:
- Telephone Bill/ Electricity Bill/ Rental bill /Trade license /Shop & Est. License/Sales Tax certificate.
- Documents required for the farmers are namely:
- Land Proof and Income proof
- Other: Two passports sized colored photographs.
Bangiya Gramin Vikash Bank Gold Loan Eligibility
The applicant can avail Bangiya Gramin Vikash Bank Gold Loan as long as the eligibility criteria are fulfilled:
- The applicant should lie in the age group 18-70 years
- You should be a citizen of India
- No employment status is considered, therefore, both salaried and self-employed can apply
- The weight and quality of gold are equally important as a result the gold should weight at least 10 grams and purity should lie between 18 carats to 22 carats
- Maximum funding that can be availed is up to 1Crore.
Bangiya Gramin Vikash Bank Gold Loan Interest Rate
- The interest rate of this service starts at 10.5%-12% p.a.
- The financial organizations provide these loans for 1 to 4 years.
- The pre-closure charges are in between 0% to 2% of the value of the loans.
FAQs About Bangiya Gramin Vikash Bank Gold Loan
Q. How much Gold Loan can I get per gram in Bangiya Gramin Vikash Bank?
The per gram Gold Loan rates in Bangiya Gramin Vikash Bank depends on the purity of your Gold. Maximum funding of 70% of your Gold’s market price can be availed.
Q. What is Bangiya Gramin Vikash Bank Gold Loan?
Bangiya Gramin Vikash Bank gives the facility of loan against gold to fulfil the requirement of funds of the borrower at a low rate of interests for a tenure of your choosing. The bank provides convenient methods for repayment of the loan as well.
Q. What is the Gold Loan interest rate in Bangiya Gramin Vikash Bank?
Rate of Interest charged by the bank on Gold Loan depends up on the amount of the loan that is to be borrowed and the price of the gold in the market. The bank also charges low processing fees and no documentation charges.
Q. How to pay Bangiya Gramin Vikash Bank Gold Loan online?
You can repay the Gold Loan using various services and methods provided by the bank. It can be done online a well as offline. For more information on this, you need to visit the nearest bank branch or call on the toll-free customer care number.
Q. How to apply Gold Loan in Bangiya Gramin Vikash Bank?
Applying for the loan from Bangiya Gramin Vikash Bank is a quick and hassle-free procedure. You just need to visit the branch of the bank and fill a form or you can apply for it online through Dialabank’s digital platform to avail the best deal suitable to your needs.
Q. How to renew Bangiya Gramin Vikash Bank Gold Loan online?
The renewal process is done when you visit the branch with the documents and write a requisite letter for renewal. You need to carry all loan-related documents with you and you might be asked to fill a form for renewal as well.
Q. How to take Gold Loan from Bangiya Gramin Vikash Bank?
Taking Gold Loan from Bangiya Gramin Vikash Bank is a convenient and easy process. You just need to be eligible for the loan and apply for it. The bank gives quick approval and disbursement after evaluation of gold if the documents are in order.
Q. What is Gold Loan in Bangiya Gramin Vikash Bank?
Bangiya Gramin Vikash Bank provides loan against gold as security for fulfilling the urgent requirement of funds of the borrowers. The bank gives loans at attractive interest rates and can be used for personal or business use.
Q. How to get Bangiya Gramin Vikash Bank Gold Loan?
Just apply for the loan by visiting the bank branch or through Dialabank.com.You need minimal documents and your gold which will be evaluated before the offer is made.
Q. How to check Bangiya Gramin Vikash Bank Gold Loan status?
Checking the status of your loan application can be done by visiting the nearest branch and contacting the loan officer associated with your file or call on the toll-free helpline number. However, the bank gives quick disbursal after approval and checking the status is only required in a few rare cases.
Q. How to close Bangiya Gramin Vikash Bank Gold Loan?
Closure of the loan takes place once you have completed the due payment for the loan. The bank releases the gold after realising the value completely. The closure takes place once the no dues certificate has been issued.
Q. How to renew Bangiya Gramin Vikash Bank Gold Loan?
The renewal process requires your presence in the bank branch. You need to get the gold revaluated and new terms are required to be agreed upon for completing the renewal process. For more information visit the nearest branch.
Q. What happens if someone defaults Bangiya Gramin Vikash Bank Gold Loan?
If someone defaults payment for the Gold Loan from Bangiya Gramin Vikash Bank the bank charges a penalty fee from the borrower and also auction the gold for the recovery of the amount if defaults are continued.
Q. How many branches of Bangiya Gramin Vikash Bank Gold Loan?
The Bank operates in 12 districts of West Bengal and has 587 Branches within its commanding area.