About DCB Bank Gold Loan
DCB Bank offers Gold Loan at competitive interest rates. This Bank is one of the significant gold loan providers as it understands the needs of the customers and disburses the loan amount in one hour. Also, The pledged Gold is locked safely in the vault, and the borrower does not have to worry about its safety. Besides, The Gold Loan Interest Rates and all other charges are transparent to borrower upfront before sanctioning the loan amount. Hence, the borrower does not have to worry about the hidden costs and fees on their gold loan.
|DCB Bank Gold Loan at a Glance|
|Interest Rate||Starts at 11.50%|
|Gold Loan Per Gram||75% of your Gold’s market value|
|Tenure||Up to 12 months|
|Processing Fee||1% + GST|
What is DCB Gold Loan?
Gold loan is a type of secured service, where you will get value against your gold ornaments; Gold Loan is Gold deposits where you get a value in monetary terms, and after repayment of the amount your gold ornaments will return to you in its same shape.
Read More – About Gold Loan
Features of DCB Bank Gold Loan
- DCB Bank gold loan is straightforward to apply. One can apply for the gold loan online within a few minutes.
- If a borrower is eligible, the loan can be approved within 5 minutes.
- After the approval of the gold loan, if the borrower has its complete documents, it can be disbursed quickly.
- The bank is fully responsible for your gold ornaments. Borrower’s gold assets will be kept under very tight and fireproof security.
- The rates of interest provided by DCB Bank Gold Loan Bank are quite affordable.
- The documentation process is simple in DCB Bank Gold Loan
- The Bank will not ask the reason behind the gold loan; one can use this loan amount according to their needs.
Know More – Gold Loan Features and Benefits
Form of Gold that is acceptable for DCB Gold Loan
- Not every type of Gold is accepted by the banks to provide the Gold Loan. There are various restrictions regarding the valuation Gold.
- The purity or quality of the Gold should be in between 18 Karats to 22 Karats.
- Raw form of Gold is not acceptable.
- Gold coins that weigh less than 50 Grams in total are accepted.
Know More – Gold Loan Per Gram
DCB Bank Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the DCB 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 DCB 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 DCB 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 DCB 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.**
DCB Bank Gold Loan Eligibility
Gold Loan is a financial product provided by the DCB 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. DCB 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 DCB 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 DCB 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.
Know More – Gold Loan: Factors to Remember
DCB Bank Gold Loan Interest Rates
DCB 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 DCB 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 11.50% per annum.
DCB 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.
Know More – Gold Loan Interest Rate
DCB 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 DCB Bank Gold Loan Rate per Gram also varies every day. DCB 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 Canara Bank Gold Loan.
**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**
DCB Bank Gold Loan Apply Online
Applying for the DCB 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.
Use of DCB Bank Gold Loan
The funds acquired by availing the DCB 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 DCB Bank Gold Loan
Q. How much Gold Loan can I get per gram in DCB Bank?
DCB Bank gives you loans at a low rate of interest where you can get about 75% of your market value of the gold. The amount depends upon the quality of the gold.
Q. What is DCB Bank Gold Loan?
Gold Loan is a financial service provided by the DCB Bank through which you can get a loan amount of up to ₹20 lacs at competitive interest rates to fulfill any urgent financial requirement.
Q. What is the Gold Loan interest rate in DCB Bank?
Gold Loan interest rates are in DCB Bank start at 11.50% per annum. The bank also charges some processing fee on your Gold Loan.
Q. How to pay DCB Bank Gold Loan online?
You can pay DCB Gold Loan in monthly installments either by giving a standing instruction on your DCB Bank account to deduct the amount or through ECS to deduct the same from another bank account.
Q. How to apply Gold Loan in DCB Bank?
You can apply for the Gold Loan by visiting the nearest Gold Loan branch of the bank where you just need to fill an application form and submit it along with your Gold for valuation. You can also apply online at Dialabank to avail the best offers and deals.
Q. How to renew DCB BankGold Loan online?
Renewal of your Gold Loan can be done by visiting the branch and submitting an application for the renewal of your loan with the loan officer.
Q. How to take Gold Loan from DCB Bank?
Taking Gold Loan from DCB Bank is easy and hassle-free. You just need to be in possession of the gold and visit the nearest bank branch. You are not required to submit any income proof or have a good credit score to take a Gold Loan.
Q. What is Gold Loan in DCB Bank?
DCB Bank provides Gold Loan facilities across the nation to fulfill your urgent requirements of the fund. You can take up to ₹20 lacs at attractive rates of interest for a tenure of 1 to 5 years.
Q. How to get DCB Bank Gold Loan?
Steps of availing a DCB Bank Gold Loan:
- Apply for the loan by visiting the branch and filling a form.
- Submit the requisite documents (Aadhar Card and PAN card).
- Get your gold valued and accept the offer.
- Get disbursal within an hour.
Q. How to check DCB Bank Gold Loan status?
The status of your DCB Bank Gola Loan can be checked by visiting the nearest branch or contacting the customer care number of the bank.
Q. How to close DCB Bank Gold Loan?
The bank provides you with various options to repay the amount. You can make a bullet payment with interest at the end of tenure or pay monthly EMIs. You can do it through Standing Instruction on your account, ECS, or through post-dated Cheques. Do not forget to collect the NDC after clearing the dues.
Q. How to renew DCB Bank Gold Loan?
You can renew your DCB Bank Gold Loan by visiting the branch with your loan documents and applying for renewal with your banker. Your gold will be revalued and the loan will be renewed based on new terms.
Q. What happens if someone defaults DCB Bank Gold Loan?
If someone is not able to pay the dues on or before the due date, the bank charges a penalty fee from the borrower and can also auction the gold to recover the number of defaults is continued.
Q. How many branches of DCB Bank Gold Loan?
DCB Bank has a network of more than 145 branches in 94 cities across India to cater to your loan requirements.
Table of Contents
- 1 About DCB Bank Gold Loan
- 2 What is DCB Gold Loan?
- 3 Features of DCB Bank Gold Loan
- 4 Form of Gold that is acceptable for DCB Gold Loan
- 5 DCB Bank Gold Loan Documents Required
- 6 DCB Bank Gold Loan Eligibility
- 7 DCB Bank Gold Loan Interest Rates
- 8 DCB Bank Gold Loan Rate per Gram
- 9 DCB Bank Gold Loan Apply Online
- 10 Use of DCB Bank Gold Loan
- 11 FAQs About DCB Bank Gold Loan
- 11.1 Q. How much Gold Loan can I get per gram in DCB Bank?
- 11.2 Q. What is DCB Bank Gold Loan?
- 11.3 Q. What is the Gold Loan interest rate in DCB Bank?
- 11.4 Q. How to apply Gold Loan in DCB Bank?
- 11.5 Q. How to renew DCB BankGold Loan online?
- 11.6 Q. How to take Gold Loan from DCB Bank?
- 11.7 Q. What is Gold Loan in DCB Bank?
- 11.8 Q. How to get DCB Bank Gold Loan?
- 11.9 Q. How to check DCB Bank Gold Loan status?
- 11.10 Q. How to close DCB Bank Gold Loan?
- 11.11 Q. How to renew DCB Bank Gold Loan?
- 11.12 Q. What happens if someone defaults DCB Bank Gold Loan?
- 11.13 Q. How many branches of DCB Bank Gold Loan?