About Dhanlaxmi Bank Gold Loan
Dhanlaxmi Bank is a private sector bank which was set up in 1927. Headquarter of the bank is in the state of Kerala. It became a commercial bank in 1977. Bank serves its customers with so many financial products like Loans, banking as well as credit cards. Moreover, Dhanlaxmi Bank provides Gold loan with a low-interest rate as well as the gold loan is disbursed very quickly i.e within an hour. Gold Loan’s whole process takes just few minutes for the approval.
Dhanlaxmi bank provides a Gold loan. Bank/financial organization will take care of all the gold/jewelry, and it will return to you whenever you pay back that particular amount of loan with interest to the bank/financial company.
Why Choose Dhanlaxmi Bank Gold Loan?
So many banks and non- financial organizations provide a Gold Loan. Then why should you choose Dhanlaxmi Bank for a Gold Loan? Here are some reasons
- The bank is very dedicated to its customers.
- High Loan amount from a minimum in thousands to a crore.
- Quick processing.
- Bad credit history/ CIBIL score, not an issue.
- Instant Processing and Disbursal.
- The lowest interest rate on Dhanlaxmi Bank Gold Loan.
- Minimum documentation required to avail Dhanlaxmi Bank Gold Loan.
- Flexible repayment options
Advantages of Dhanlaxmi Bank Gold Loan
- A gold loan is a fast loan as compares to other loans individual get cash within a day
- The gold loan can be taken for education purpose
- It tends to help extend a business or working capital requirement
- To enhance agribusiness by purchasing apparatus for the water system and different needs
- At the point when a medicinal crisis strikes, a gold loan can be a friend in need.
- To get urgent money while going on a trip
- Gives the feeling of utilising a possess advantage for fund your requirements
Dhanlaxmi Bank Gold Loan Eligibility
Gold Loan is a financial product provided by the Dhanlaxmi 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. Dhanlaxmi 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 Dhanlaxmi 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 a 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, etc. are not recognised as valid forms of gold to be kept as security for the Dhanlaxmi 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.
Dhanlaxmi Bank Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Dhanlaxmi 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 Dhanlaxmi 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 Dhanlaxmi 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 Dhanlaxmi 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.**
Dhanlaxmi Bank Gold Loan Interest Rate, Fees and Charges
Dhanlaxmi 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 Dhanlaxmi Bank are lower in comparison to other loans because it is a fully secured loan.
The Gold Loan interest rates in the bank start at 9.90% per annum.
Dhanlaxmi 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.
Dhanlaxmi 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 Dhanlaxmi Bank Gold Loan Rate per Gram also varies every day. Dhanlaxmi Bank gives funding of up to 70% of the total market price of your gold keeping the remaining 30% as a security margin.
You will get ₹1755 to ₹2145 for a gram of gold depending on its purity and the market price for your Dhanlaxmi Bank Gold Loan.
**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**
Dhanlaxmi Bank Gold Loan Apply Online
Applying for the Dhanlaxmi 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 just to 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 based on funding provided and the rate of interest charged for choosing the best loan deal for yourself.
Dhanlaxmi Bank Gold Loan EMI Calculator
How to Pay Your Dhanlaxmi Bank Gold Loan EMI?
Your Dhanlaxmi Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with Dhanlaxmi Bank, Standing Instruction is the best method of repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the Dhanlaxmi Bank account you indicate.
- Electronic Clearing Service (ECS): This mode can be utilised if you have a non-Dhanlaxmi Bank account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-Dhanlaxmi Bank account at your closest Dhanlaxmi Bank Loan Center. A new arrangement of PDCs should be submitted on time. It will be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.
Gold Ornaments Accepted by Dhanlaxmi Bank
Gold jewellery such as Gold Bangles, Gold rings, Gold anklets, and Gold necklaces, all of these are accepted for availing a Gold Loan.
Quality: The quality of gold should lie between 18 Carat to 22 Carat. Aby gold ornament which is 24 Carat, cannot be used for availing a gold loan.
Uses of Dhanlaxmi Bank Gold Loan
The funds acquired by availing the Dhanlaxmi Bank Gold Loan service can be used for several purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, etc.
- For all your business needs, such as buying raw material, expansion of business, 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 Dhanlaxmi Bank Gold Loan
The per gram Gold Loan ranges between ₹1755 to ₹2145, and it is subject to change based on the purity of your gold and the market prices. Dhanlaxmi Bank provides Gold Loans at competitive interest rates for the customers in need of urgent funds.
Dhanlaxmi Bank offers loans against gold at competitive rates of interest which depends on the amount of the loan to be borrowed. You can Gold loan to fulfil any expenses, whether leisure (travel, wedding, etc.) or professional (business use). The bank also provides easy repayment options.
Dhanlaxmi Bank offers Gold Loans at interest rates starting from 9.90% per annum. The bank also charges a processing fee of 1% of the loan amount.
Payment of Dhanlaxmi Bank Gold Loan can be made using Standing Instruction or ECS payment system. For more information, you can contact the customer care executive of the bank.
You can apply for Gold Loan from Dhanlaxmi Bank by visiting the branch physically and submitting your application form with the required documents. You can also apply online through Dialabank’s digital platform to avail the best deals on Gold Loans from different banks.
You will have to visit the branch and contact the officer in charge of your file to understand and initiate the process of renewal. Your gold will undergo a revaluation process for new terms to be decided.
Taking a Gold Loan from Dhanlaxmi Bank is a hassle-free and straightforward process that just requires you to fill a form and submit your documents along with your gold as security. The bank ensures quick disbursal of loans and secure repayment options.
Dhanlaxmi Bank provides Gold Loans at an attractive rate of interest, starting from 9.90% per annum for the fulfilment of your urgent monetary requirements. The loan amount can be used to meet several expenses.
You can get a Gold Loan through a simple and hassle-free process either by visiting the bank branch or applying online at Dialabank.
You can check the status of your Gold Loan by contacting your loan branch either in person or through customer care number.
Your Dhanlaxmi Bank Gold Loan can be closed by repaying the entire due amount in the following three ways:
- Standing Instruction on your Dhanlaxmi Bank account.
- ECS on your other bank’s account.
- Post-Dated Cheques deposited with the branch.
The renewal process requires you to visit your loan branch for a revaluation process of your gold. You may be charged with a renewal fee and will have to submit a renewal application form with the bank.
If you default the repayment of your Dhanlaxmi Bank Gold Loan, the bank will charge a penalty fee and may even auction your gold to recover the amount. Defaulting on your loan also decreases your Credit Score and makes it difficult to avail of an investment in the future.
Dhanlaxmi Bank is a private sector bank which was founded in 1927. The bank has over 280 branches spread across the nation to meet your banking needs.
Table of Contents
- 1 About Dhanlaxmi Bank Gold Loan
- 2 Why Choose Dhanlaxmi Bank Gold Loan?
- 3 Advantages of Dhanlaxmi Bank Gold Loan
- 4 Dhanlaxmi Bank Gold Loan Eligibility
- 5 Dhanlaxmi Bank Gold Loan Documents Required
- 6 Dhanlaxmi Bank Gold Loan Interest Rate, Fees and Charges
- 7 Dhanlaxmi Bank Gold Loan Rate per Gram
- 8 Dhanlaxmi Bank Gold Loan Apply Online
- 9 Dhanlaxmi Bank Gold Loan EMI Calculator
- 10 How to Pay Your Dhanlaxmi Bank Gold Loan EMI?
- 11 Gold Ornaments Accepted by Dhanlaxmi Bank
- 12 Uses of Dhanlaxmi Bank Gold Loan
- 13 FAQs About Dhanlaxmi Bank Gold Loan