ESAF Small Finance Bank Gold Loan

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Unlock the Real Value of your Gold
Rates as low as 10.00%*
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
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About ESAF Small Finance Bank Gold Loan

ESAF bank is a small finance bank, Located in Thrissur, India. ESAF providing services and small loans to the underbanked. Before the bank was non-banking finance company and micro-finance institution. The bank was established on 10 March 2017. The bank has 400 branches in India.

The bank has designed appropriate loan products that meet the needs of the customers. Bank understands that financial support is inevitable for holistic development of the society. With social upliftment as the prime focus area, ESAF loan products are designed to cater to a multitude of customer segments.

Different Forms of Gold Accepted for ESAF Small Finance Bank Gold Loan

  • Gold Bangles
  • Gold rings
  • Gold anklets
  • Gold necklace
  • Any Other Form of Gold Ornament

Acceptable Purity of Gold – 18 Carat to 22 Carat

ESAF Small Finance Bank Features & Benefits

  • The loan against gold comes with flexible and medium term tenure that allows you to repay the loan quickly.
  • The bank has a low-interest rate starting from 10.50% to 13.50%, which makes the repayment amount smaller than unsecured loans.
  • Minimum documentation required, such as identity proof, address proof, and documents such as salary slips, bank statements, IT return etc is not needed.
  • A prepayment penalty is not charged by all financial institutions, and some may exempt these charges.
  • Disbursal assured the same day of Gold loan approval. The Gold loan can be given in just a few hours.

ESAF Small Finance Bank Gold Loan Interest Rates

ESAF Small Finance Bank Gold Loan

In general, Gold Loan is available at low-interest rates. The reason being that, the gold loan is a fully secured loans.

  • Interest rate – 10.70%
  • Low processing fee of 0.85%
  • Pre-closer charges range from 0-2 %.

Why Should You Choose ESAF Small Finance Bank?

  • The bank is very dedicated to its customers.
  • High Loan amount
  • Quick processing
  • Bad credit history/CIBIL score, not an issue
  • Instant Processing and Disbursal
  • Low interest rate
  • Minimum documentation
  • Flexible repayment options

ESAF Small Finance Bank Gold Loan Eligibility

  • The age of the customer should not be less than 18 years.
  • The applicant should be a citizen of India.
  • The applicant should have gold in an appropriate form.
  • The quality of the gold should be 18 Carat to 22 Carat.

ESAF Small Finance Bank Gold Loan Documentation

  • Identity Proof – It can be an Aadhar Card/ Voter ID card/ PAN Card/ Driving License/ Passport.
  • Proof of Residence – It can be an Aadhar Card / Voter ID card / PAN Card / Driving License / Passport / Ration Card / Electricity / Water Bills of last three months with the name of the applicant.
  • Two colored photographs.
  • Land Proof – In case of Agricultural Gold Loan of more than ₹1 lac.

ESAF Small Finance Bank Gold Loan Process

  • The bank checks the purity of the gold.
  • The bank verifies the market rate for gold and the price of the previous day is take into consideration
  • The LTV (Loan to Value) set by the RBI is 75%.
  • 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.
  • After signing the agreement, the loan amount is disbursed to your account.

FAQ About ESAF Small Finance Bank

Q. How much Gold Loan can I get per gram in ESAF Small Finance Bank?

The bank provides about 65-70% funding of the total market price of your gold based on the quality of your gold and its market price.

Q. What is ESAF Small Finance Bank Gold Loan?

ESAF Small Finance Bank provides loan against gold service for the fulfilment of your medical expenses or your business expenses. You can also avail the service for agriculture purpose. The bank provides the loan at competitive interest rates for a short term. They also provide easy repayment options for the closure of loan.

Q. What is the Gold Loan interest rate in ESAF Small Finance Bank?

ESAF Small Finance Bank charges a different rate of interest based upon the amount of the loan to be borrowed and the purpose of the loan. The bank charges a lower rate of interest for the agriculture sector and comparatively higher from the non-priority sector.
  • Agriculture purpose (10.20% – 12.20%)
  • Personal Medical Purpose (12.45% – 14.20%)
  • Business Purpose (12.45% – 14.20%)”

Q. How to pay ESAF Small Finance Bank Gold Loan online?

ESAF Small Finance Bank offers various convenient methods for the repayment of your Gold Loan. For more information visit the nearest branch or call on the toll-free customer care number.

Q. How to apply Gold Loan in ESAF Small Finance Bank?

You can apply for the Advance against Gold from ESAF Small Finance Bank by visiting the bank’s nearest branch providing this service and filling a form and submitting it with the required documents. You can also apply online by filling a form on Dialabank.com to avail the best offers on gold loans.

Q. How to renew ESAF Small Finance Bank Gold Loan online?

You can renew your Gold Loan from the same branch where the loan was initially approved. Your pledged gold is first released then revalued according to the current market rates.

Q. How to take Gold Loan from ESAF Small Finance Bank?

Taking Gold Loan from ESAF Small Finance Bank is a simple and hassle-free process as one just needs to apply for the loan from Dialabank.com to get the best deals and convenient service. You can compare and take the best offer that is suitable to your needs if you apply through this platform.

Q. What is Gold Loan in ESAF Small Finance Bank?

ESAF Small Finance Bank gives Gold Loans at a competitive rate of interests which can be used for various purposes. The tenure is flexible and the bank gives quick disbursal of the loan. Minimal documents are required for the application to be submitted and the process is usually completed within 90 minutes.

Q. How to get ESAF Small Finance Bank Gold Loan?

You can easily get a Gold Loan from ESAF Small Finance Bank by pledging your gold. The loan amount is dependent on the purity of your gold and the rate of gold in the market. You will need to visit the bank branch with basic KYC documents and your gold or you can apply online with Dialabank and avail personalized assistance from the comfort of your home.

Q. How to check ESAF Small Finance Bank Gold Loan status?

Checking the status of your Gold Loan application is not required as the bank gives disbursal within hours of the approval of the application. For more details contact the officer in charge of the branch.

Q. How to close ESAF Small Finance Bank Gold Loan?

For closing your Gold Loan with ESAF Small Finance Bank you will have to visit the branch with your loan documents and once all the pending payments are made your Gold Loan will be closed and your pledged gold will be returned to you.

Q. How to renew ESAF Small Finance Bank Gold Loan?

If you desire to renew your Gold Loan from ESAF Small Finance Bank all you need to do is visit the branch with your documents and apply for a renewal. Your gold will be revalued and new loan terms will be decided. After you pay a minimal renewal fee, your loan will be renewed for a new tenure.

Q. What happens if someone defaults ESAF Small Finance Bank Gold Loan?

If someone defaults the ESAF Small Finance Bank repayment schedule then the bank charges a late fee penalty on the total amount due and also auctions the gold for the recovery of the amount in case of continuous defaults.

Q. How many branches of ESAF Small Finance Bank Gold Loan?

ESAF Small Finance Bank Limited is a private sector bank in India. It has headquartered in Thrissur. It has 457 branches.

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