Baroda Gujarat Gramin Bank Gold Loan

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Rates as low as 1% p.m.
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Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
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Baroda Gujarat Gramin Bank Gold Loan 

Baroda Gujarat Gramin Bank Gold Loan

On September 12, 2005, Government of Gujarat as well as  (BOB) Bank of Baroda. Besides that being the sponsor bank of Panchmahal Vadodara Gramin Bank, Surat Bharuch Gramin Bank as well as Valsad Dangs Gramin Bank, in the public interest and the importance of the development of the area served by the said by Regional Rural Banks as also in the interest of said RRBs themselves. It had been decided that the announced RRBs should be amalgamated into a single RRB know as Baroda Gujarat Gramin Bank with its Head office at Bharuch formerly known as Broach in State Gujarat, India.

About Baroda Gujarat Gramin Gold Loan

Gold Loan has certain benefits, such as quick processing time, low-interest rates, medium-term tenure, etc. The Baroda Gujarat Gramin Bank Gold Loan can help you meet an urgent need for cash. Different gold assets are eligible to get the Baroda Gujarat Gramin Bank Gold loan, but mostly the preferred gold type is jewelry and coins and not biscuits or bars. Baroda Gujarat Gramin Bank offers loan against gold at contentious interest rates. The pledged gold ornament is locked safely in the Baroda Gujarat Gramin Bank locker, and the borrower does not have to worry about their Gold safety.

Where Can Baroda Gujarat Gramin Bank Gold Loan be used?

However, there are no end-use restrictions on the usage of Gold Loan Money. But still, there are some fields mentioned where we can use this amount of Gold loan.
1. First of all for wedding purposes
2. After that, a person can also use this amount of gold loan for wedding purpose.
3. Furthermore, this amount of loan can also be used to buy a car.
4. Besides that, home renovation can also be done by using this amount of gold loan.

Baroda Gujarat Gramin Bank Gold Loan Interest Rates

In general Loan on Gold, the credit is available at a low-interest rate. Moreover, the reason behind that the gold loan comes in the category of secured loans. So the Gold interest rates are less than that of personal loan or any other kind of loans. Though the gold loan rate keeps on changing with the passage of time as well as person to person. The  Baroda Gujarat Gramin Gold Loan is available at 1% per month interest rate.
1. Gold Loan Interest rate – 10.70 %
2. Also, offer low processing fee –  0.85%
3. Further, pre-closer charges range from 0 – 2 %.
4. Besides Tenure minimum six months; maximum five year
5. Lastly Amount – Thousand to a crore

Why Apply for Baroda Gurajat Gramin Bank Gold Loan?

1. Baroda Gurajat Gramin Bank  follows a very simple and hassles free process
2. Faster loan disbursal.
3. Minimum documentation.
4. Improves customer service in a much shorter response turn around time.
5. 100% safety as well as protection of gold ornaments.

Eligibility Baroda Gurajat Gramin Bank Gold Loan

1. Firstly, The age of the customer should not be less than 18 years.
2. Secondly, The applicant should be a citizen of India.
3. The applicant should have gold in an appropriate form.
4. The quality of the gold should be 18 karats to 22 karats.

Baroda Gurajat Gramin Bank Gold Loan Documentation

1. Firstly, an Identity Proof is required. It can be an Aadhar Card/ Voter ID card/ PAN Card/Driving License/ passport.
2. Secondly,  One proof of residence is also required while applying for a gold loan; it can also be an Aadhar Card/ Card/ Voter ID card/ PAN Card/Driving License/ passport/Ration Card/Electricity/water bills of last three months with the name of the applicant.
3. Two colored photographs.

Additional Documentation for Baroda Gujarat Gramin Bank Gold Loan

The bank needs a Proof of ownership of Land if you are applying for an agriculture gold loan.
1. Land Proof – In the case of Agriculture Loan on gold of more than Rs. 1 lakh the proof is not required for allied agriculture purposes.
2. Needed a Demand Promissory Note – Certificate by the Jewel Appraiser (Bank will arrange).
3. Besides Income Proof of Salary Certificate as well as Form No.16

Gold Loan Process

1. The bank checks the purity of the gold.
2. The bank checks the market rate for gold and the price of the previous day is take into consideration
3. The LTV (Loan to Value) set by the RBI is 75%.
4. If you have acknowledged the Gold loan amount and terms, the lender processes the application. The processing fees & other charges are deducted from your Gold loan amount.
5. After signing the agreement, the loan amount is disbursed to your account.

Why Should You Choose Baroda Gujarat Gramin Bank Gold Loan?

So many banks and non- financial organizations provide a Gold Loan. Then why should you choose Baroda Gujarat Gramin Bank for a Gold Loan? Here are some reasons

1. Firstly, the bank is very dedicated to its customers.

2. Secondly High Loan amount from a minimum in thousands to a crore.

3. Thirdly, Quick processing.

4. Bad credit history/ CIBIL score, not an issue.

7. Instant Processing and Disbursal.

8. Also, the lowest interest rate.

9. Minimum documentation required.

10. Furthermore, Flexible repayment option.

Why Dialabank for online Gold Loan?

1. Firstly www.dialabank.com offers a very easy process of application for Online Gold Loan
2. After that, the applicant gets a good comparison of the gold interest rates of other banks as well.
3. Furthermore, the company provides the document pickup facility from your doorstep.
4. Lastly, you will get the best as well as the lowest interest rate. Moreover, for more information call 9592046860 or 60011600 with your city code.

FAQ

Q. How does Baroda Gujarat Gramin Gold Loan Work?

 Loan on gold is very simple to understand. The Banks /NBFC provides you with funds against your gold ornament. The amount depends upon the gold weight.

Q. Baroda Gujarat Gramin Gold Loan is secured?

Yes, it is essential to note that the loan on gold comes in the category of secured loans. Because in a gold loan the applicant put their gold ornaments into the bank’s locker as security or as collateral.

Q. What happens when you don’t repay a Gold Loan?

 If the borrower is unable to return the gold loan on time, then the bank is liable to sell his gold ornaments.

 Q. To get a gold loan do I need a co-applicant?

 No, to avail Gold loan you don’t need any co-applicant

Q.  Gold loan better than a Personal loan?

Yes, Gold loan is better than personal Loan because in Gold Loan banks/NBFC’s takes Gold ornament as well as gold coin as collateral and in case of Personal loan it is un-secured and hence carries higher interest than a gold loan.

Q. What is the best online platform to avail gold loan?

Dialabank is the best platform to get a loan. Dialabank provides you hassle-free process as well as the lowest interest rate in the market as compared to others.

Q. Is there any fee payable for the Gold Loan?

Yes, you have to pay the loan processing fee (non-refundable) as well as Valuation fee.

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