J & K Grameen Bank Gold Loan Documents Required

Features of J & K Grameen Bank Gold Loan

At times of need, different assets besides money are not of that much use. Thus to make use of those assets like Gold and loan them easily for quick money, the J &K Grameen Bank provides you with the facility of availing a Gold loan. J & K Grameen Bank Gold Loan Documents Required information is very beneficial for quick approval of the loan.

Key features of J & K Grameen Bank Gold Loan are:

• Easy Procedure of obtaining Loan: Banks disburse loans within hours of initiating the procedure of obtaining a loan as the borrower presents the collateral in the form of Gold at the time of the application.
• Security of Gold: As the customer presents their Gold for a loan to the bank, it becomes the bank’s responsibility to keep their assets safe until they repay the principal along with the interest.
• No Proof of income: Unlike other loans, Gold loans are based on the Gold that the borrower has to present to the bank. This leaves the income out of the profile and thus there is no need for income proof to be presented.
• Low or Nil Foreclosure Charges:  Banks usually have either around 1% or no minimum prepayment charges on gold loans.

J & K Grameen Bank Gold Loan Comparision with banks

J & K Grameen Bank Gold Loan EMI calculator

Calculating monthly EMI payments towards your Gold loan can sometimes become hectic, thus J & K Grameen Bank Gold Loan EMI calculator is made available to make your lives easier. This Gold Loan EMI calculator calculates your net monthly EMI payments for the interest rate you provide it with.

Calculation of EMI is dependent on the factors below:-

• Rate of Interest: As the Rate of Interest increases the amount of EMI also increases.
• Loan Period: For a longer period of payment, the amount of EMI is reduced.
• Loan Amount: The loan amount is directly proportional to the amount of EMI.

J & K Grameen Bank Gold Loan Documents Required

J & K Grameen Bank Gold Loan Documents Required are required for processing the loan application by J & K Grameen Bank.

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

J & K Grameen Bank Gold Loan Documents Required – FAQs

✅ How Can I avail Gold loan at J & K Grameen Bank?

To avail a gold loan from J & K Grameen Bank, visit their nearest branch with gold and required documents.

✅ What is the Gold Loan rate of interest at J and K Grameen Bank?

The interest rate of the Gold loans at J & K Grameen Bank starts at 10.70%.

✅ What is the maximum amount of Gold Loan I can avail myself?

The range varies from Rs. 10 thousand to Rs. 15 lakhs.