Development Credit Bank (DCB) Gold Loan Key Features
|DCB Gold Loan Interest Rate||7.0% per annum|
|DCB Gold Loan per gram||Gold Loan Rate Per Gram today is ₹ 5340|
|Age of Borrower||18 – 75 years|
|Maximum Loan Amount||Up to 1 crore|
|Maximum Loan to Gold Value Ratio||Up to 75%|
|The purity of Eligible gold||18 carat to 22-carat gold|
|Maximum Loan Tenure||Up to 36 months|
Advantages of Development Credit Bank (DCB) Gold Loan
Development Credit Bank provides many different kinds of loans to the people. One of these loans provided by them is the Gold Loan. A Loan Against Gold is financed in exchange for the mortgaging one’s gold ornaments or jewellery. Nearly every person in our country owns gold and can avail of this loan. Any individual who needs a Personal Loan or a Business Loan can apply for this loan and avail of instant finance. A person generally, who is ineligible for these loans, may be due to poor credit history, or it may be due to the low monthly income of the applicant. The main advantages of the Development Credit Bank Gold Loan are:
- Quick disbursal.
- No credit check or salary criteria.
- Simple documentation.
- 100% security of your precious asset.
- Less processing charges.
- No hidden charges.
How Much Can I Get Through Development Credit Bank (DCB) Gold Loan?
According to the latest gold prices, DCB offers a gold loan per gram today of ₹ 5340. The highest DCB gold loan rate per gram today is ₹ 5340 for 22-carat jewelry estimated at a maximum LTV of 75% and average gold loan rates of the last 30 days in 2020 are ₹ 5340 of 22-carats.
DCB Gold Loan Rate Per Gram
Updated - Gold Loan Per Gram Rate w.e.f May 06 2021
|Gold Weight||Gold Purity
About Development Credit Bank (DCB) Gold Loan
Development Credit Bank is a bank that was set up 78 years ago. The bank does business in agriculture, retail, government, commodities, NBFCs, and so on. They provide quick service for their customers and deal with various financial products. There are more than 92 branches of the bank across 14 states and two union territories. It provides instant loans upon gold. Gold Loan is used to defeat the small-term demands of a person.
Gold is one of the most expensive and precious metals in India. Its importance in our lives cannot be overlooked because everybody is attached to it emotionally. Nevertheless, what is the purpose of grasping your gold in a private drawer when it can assist you in times of difficulty? Taking a Loan Against Gold can assist you to win any drastic situation. Gold Loan is the stablest way to get money in a short spread.
- DCB Gold Loan Interest Rate is 7.0% per annum
- DCB Gold Loan Per Gram Rate Today is ₹ 5340
- DCB Gold Loan Tenure: Up to 24 months
- DCB Gold Loan Processing Fee is Up to 2% of the Loan Amount + GST
Development Credit Bank Gold Loan Eligibility
The process of availing a loan against gold is instant and straightforward with DialaBank provided you fulfill the necessary eligibility requirements of the bank. The basic eligibility requirements are as follows:
|Requirements||Gold ornaments (18-22 carats)|
|CIBIL score||Above 500|
Development Credit Bank Gold Loan Documents Required
|Identity Proof||Aadhar Card/Pan Card/ Passport/ Voter ID (Anyone)|
|Residence Proof||Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card (Anyone)|
|Agriculture Proof ( if applicable)||Agriculture Land Ownership Proof|
|Photographs||2 Passport sized colored|
Development Credit Bank Interest Rate, Fees and Charges
|DCB Gold Loan Interest Rate||7% per annum|
|Processing Fee||Up to 2% of the loan amount|
|Loan to Gold value||Up to 75%|
|Prepayment Charges||Up to 1% of the outstanding principal amount|
Types of Credit Bank Gold Loan
- EMI Option: is the most widely preferred option in which the borrower pays monthly installments in the form of EMIs to repay the loan amount borrowed. The EMI amount constitutes both, a part of the principal amount as well as the interest rate.
- Bullet Repayment Option: is another widely used loan repayment option in which the borrower only pays the interest rates every month while his principal amount borrowed is paid at the end of the tenure.
Development Credit Bank Gold Loan Apply Online
The process to apply online for the Development Credit Bank loan against gold is instant and straightforward with DialaBank. The steps required to be followed include:
- Visit the website of DialaBank, and fill a form available online.
- Fill in all the credentials required and provide your valid contact number.
- Our Relationship Manager will contact you on the number given in the form and assist you throughout the Gold Loan process.
- You will get personalized 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 various banks based on funding provided and the rate of interest charged for choosing the best loan deal for yourself.
Development Credit Bank Gold Loan EMI Calculator
How to Pay Your Development Credit Bank Gold Loan EMI?
Your DCB Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If the person is a current account renter with ICICI, Standing Instruction is the most dependable method of compensation. Your EMI sum will be credited automatically near the finish of the month to month cycle from the ICICI account you register.
- Electronic Clearing Service (ECS): This method can be used if you have a non-ICICI Finance record and might need your EMIs to be required consequently toward the end of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-ICICI account at your nearest Bajaj Finance Loan Center. A new arrangement of PDCs should be made on time. It will be ideal if you see Post Dated Checks will be managed non-ECS operations as it were.
Development Credit Bank Gold Loan Contact Number
For any sort of assistance regarding the Development Credit Bank gold loan, you can contact us on the number 9878981144.
Gold Ornaments accepted by ICICI Gold Loan
- Development Credit Bank accepts Gold of 18 carats to 22 carats only.
- The bank accepts only gold ornaments in the form of collateral.
- Minted coins are not accepted.
- A minimum of 10 grams of Gold is essential to get a gold loan.
Use of Development Credit Bank Gold loan
- Gold loans are secured loans and thus are fast processing loans as compared to personal loans.
- Being secured loans, gold loans offer a lower rate of interest.
- The loan amount can be used for multiple purposes like paying off previous debt amounts, meeting business requirements, and even for agricultural purposes.
FAQs About Development Credit Bank Gold Loan
DCB Gold Loan is a secured loan with maximum funding of 75% of the total market value of your gold ornaments. The loan amount can be used for all your personal and business needs. Gold Loan by DCB is a financial product that can fulfill your short term fiscal requirements. If you are above the age of 18 years and are a permanent resident of the country with possession of gold, you can apply for DCB Gold Loan.
You can get a Gold Loan from the DCB in a hassle-free and straightforward process:
- Fill in your vital information in the form available on Dialabank.
- Our trained Relationship Manager will get in touch with you within 30 minutes.
- We will suggest you the loan according to your requirements, in your specific city.
- Visit the assigned branch of the bank.
- Get the loan sanctioned in just 30 minutes.
Per gram Gold Loan rates in DCB varies according to the purity of your gold and the current prevailing market rates.
The DCB Gold Loan is a secure credit availing service available for those who have urgent cash requirements and can pledge gold ornaments as collateral security. Once the gold pledged with the bank is valued, the bank processes the loan amount in your indicated account immediately. Various repayment options are available for repaying the loan.
DCB Gold Loan interest rate is 7.0% per annum.
You can check the status of your Gold Loan by contacting the loan officer at your loan branch.
You can easily calculate the gold loan interest rate in DCB by subtracting the principal amount from the total sum to be paid.
You can get a maximum amount of Rs 1 crore on a DCB Gold Loan as the bank offers around 75% of the gold ornaments’ market value.
The loan tenure of your DCB Gold Loan is up to 36 months. However, you’ll be required to renew your loan plan after a year.
A processing fee of up to 2% of the loan amount is charged.
Renewal of Gold Loan can be made after completing tenure by hitting the bank with all the loan records. New terms are determined after revaluation of your gold, and the loan is recovered for another time.
Renew your Gold Loan with DCB by visiting the branch with your loan documents. Your gold will undergo a revaluation process, and upon confirmation of terms, your Gold Loan will be renewed for another tenure.
The charges for renewal by the bank is approximately Rs. 250- Rs. 500.
DCB charges up to 1% of the outstanding principal amount for the prepayment of the gold loan.
For DCB account holders, online payments can be made through the bank’s online portal or mobile application via net banking, debit cards, or mobile wallets such as Paytm.
If you cannot make the payments of DCB Gold Loan interest for 3 months, a penalty fee is charged on the total amount due, and in case of repeated defaults, the bank will have the authority to auction your gold ornaments to recover the amount publicly.
You can apply for the EMI moratorium on DCB gold loan online by logging in with your credentials or by personally visiting the main branch. The moratorium request has to be submitted at least five working days before the due date of your EMI.
As per RBI Guidelines, DCB Gold loan cannot be repaid via credit cards. Other payment modes such as net banking, debits cards, cheques, DDs can be used for loan repayment.
Other Major Gold Loan Providers
Table of Contents
- 1 Development Credit Bank (DCB) Gold Loan Key Features
- 2 Advantages of Development Credit Bank (DCB) Gold Loan
- 3 How Much Can I Get Through Development Credit Bank (DCB) Gold Loan?
- 4 About Development Credit Bank (DCB) Gold Loan
- 5 Development Credit Bank Gold Loan Eligibility
- 6 Development Credit Bank Gold Loan Documents Required
- 7 Development Credit Bank Interest Rate, Fees and Charges
- 8 Types of Credit Bank Gold Loan
- 9 Development Credit Bank Gold Loan Apply Online
- 10 Development Credit Bank Gold Loan EMI Calculator
- 11 How to Pay Your Development Credit Bank Gold Loan EMI?
- 12 Development Credit Bank Gold Loan Contact Number
- 13 Gold Ornaments accepted by ICICI Gold Loan
- 14 Use of Development Credit Bank Gold loan