Ellaquai Dehati Bank Gold Loan Approval Process

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    Ellaquai Dehati Bank Gold Loan Approval Process

    Ellaquai Dehati Bank Gold Loan Features

    Ellaquai Dehati Bank Gold Loan Approval Process

    Ellaquai Dehati Bank Gold Loan Approval Process is considered to be very fluid and easy for the customers. A gold loan is a loan you can take against a gold commodity you can put up as surety/security. This loan helps you get the funds very quickly in cases of emergencies.

    Ellaquai Dehati Bank offers a very low-interest rate on these loans. Low processing charges on the loan. You can have a tenure ranging from 3 months to 24 months. A total of up to 80% will be offered as a loan.

    The disbursement of the funds is quick and there is very little documentation involved. You have to put the gold commodity as security for the loan, in case of default. If you fail to repay the loan, then the gold commodity that you put up as security will be auctioned off to pay back the loan and if it still falls short then you will have to pay them back. This usually happens after 3 bank notices.

    You can learn more about taking an Ellaquai Dehati Bank gold loan by visiting dialabank. You can even have our relationship manager do all the work for you without you having to do much work.

    Ellaquai Dehati Bank Gold Loan Eligibility

    Minimum and Maximum Age
    21 Yrs – 60 Yrs
    Note: However, many banks require a minimum age of 23 years
    Loan Amount
    Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh
    Interest rates are lower for a higher loan amount
    Employment Type
    Salaried and self-employed both are eligible
    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
    Gold ornaments should range in between 18 to 24 Carats
    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
    CIBIL Score
    Banks do not check CIBIL score for granting a gold loan
    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 bars and coins
    Gold with 18-24 carat purity
    Employment track record and income proofs
    Banks do not check your job stability or business stability to sanction you a gold loan. Gold loans are granted without income proofs. You only need to submit your basic KYC documents such as address proof, identity proof, and an Aadhaar card to avail of this loan.

    Ellaquai Dehati Bank  Gold Loan Documents Required

    At the time of application the following documents are required:

    • Proof of the citizenship of India
    • Duly filled application form
    • 2 passport-sized photographs
    • Applicant’s KYC documents to establish Identity and Address
    • Salary/ Income Proof
    • Witness Letter in case of illiterate borrowers
    • In the case of Agriculture Loan of more than Rs. 1 lac, land proof
    • Certificate by the Jewel Appraiser (Bank will arrange)

    At the time of disbursement the following documents are required:

    • Demand Promissory Note & Demand Promissory Note Take Delivery Letter
    • Gold Ornaments Take Delivery Letter
    • Arrangement Letter

    Ellaquai Dehati Bank Gold Loan Approval Process

    1. Visit the gold loan application page on dialabank.
    2. Verify all the details for the application.
    3. Select Ellaquai Dehati Bank as your preferred bank for the gold loan.
    4. An amortisation table will be displayed with all the details including the loan amount you will be eligible for, the loan tenure, the interest you would be paying per month, and the interest rate.
    5. Proceed with the application and submit the form.
    6. One of our relationship managers will contact you to get your gold commodity valued for the loan to be sanctioned.

    FAQs on Ellaquai Dehati Bank Gold Loan Approval Process

    Do I need to be an already existing customer of the bank to apply for a gold loan?

    Although some banks might require you to be the customer of their to avail a gold loan, many of the banks don’t.

    ✅ What is a gold loan overdraft?

    A gold loan overdraft is when the disbursed amount is credited and you only pay for what you have spent. This kind of like a credit card with a limit. The loan can be completely paid off at once.

    ✅ What is a gold loan EMI calculator?

    A gold loan EMI calculator helps you calculate the EMI you would be paying based on the loan amount you are getting, the tenure, and the interest rate.