Barclays Bank Gold Loan Features
Barclays Bank Gold Loan is provided at an attractive interest rate and for various purposes. People consider gold as one of the best kinds of investment options with good returns but they don’t know the other side which is gold can also be used when you have any financial crisis. The Barclays Bank Gold Loan eligibility depends on the criteria of where the customers pledge their gold, gold coins or gold ornaments in order to meet their urgent financial needs with a low a rate of interest as possible and faster disbursements.
You can visit Dialabank for more information about gold loans.
Barclays 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
Barclays 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:
Barclays Bank Gold Loan Approval Process
You can follow this process to apply for a gold loan at Barclays Bank and get it approved:
- Go to the Barclays Bank mobile application or website.
- Log in to your internet banking account.
- Go to the section to apply for a gold loan.
- Check your eligibility and apply for the gold loan.
- The loan will be approved in a short time and the representatives will be in touch with you.
Alternatively, you can also choose to visit any branch of Barclays Bank and directly apply for a gold loan. It is advisable to book an appointment before visiting a branch if you prefer the offline application process.
FAQs on Barclays Bank Gold Loan Approval Process
✅ What is the maximum loan tenure of a Barclays Bank gold loan?
The maximum loan tenure of a Barclays Bank gold loan is set as 36 months.
✅ What are the Eligibility criteria for a gold loan?
The eligibility criteria for a gold loan is anyone within the age group 18 to 65 can apply for a gold loan if they possess gold ornaments.
✅ What is the processing fee charged by Barclays Bank for a gold loan?
Barclays Bank Gold Loan charges a processing fee of up to 1% of the Loan Amount on their Gold Loan.
Table of Contents
- 1 Barclays Bank Gold Loan Features
- 2 Barclays Bank Gold Loan Eligibility
- 3 Barclays Bank Gold Loan Documents Required
- 4 Barclays Bank Gold Loan Approval Process
- 5 FAQs on Barclays Bank Gold Loan Approval Process