About Jammu and Kashmir Bank Gold Loan
Jammu & Kashmir is a private sector bank. Headquarters of the bank is in Srinagar. It was founded on 1st October 1938. The bank provides a lot of financial services to the customers at very reasonable rates of interest. The major products of the bank are loans, credit cards, banking, and insurances.
Jammu and Kashmir Bank Gold Loan is a secured service provided by the bank to cope up with the financial crisis. In this, the applicant has to put ornaments of gold in the bank as collateral in return of the loan amount.
|Jammu and Kashmir Bank Gold Loan at a Glance|
|Interest Rate||Starts at 11%|
|Gold Loan Per Gram||Varies depending on the purity of gold|
|Tenure||6 to 12 months|
|Processing Fee||1% + GST|
Features of Jammu and Kashmir Bank Gold Loan
- Transparent System: Jammu and Kashmir Bank has a very transparent system of Gold Loan where every fee and charge is conveyed to the customer beforehand and there are no hidden charges asssociated with the Gold Loan.
- No Debt Burden: Even if the borrower is unable to pay back the amount of Gold Loan to the bank, he/she is not under debt as the bank simply auctions off the applicant’s Gold to recover the amount.
- Low Rate of Interest: Jammu and Kashmir Bank charges low rates of interest on Gold Loan as compared to other loans as it is a fully secured form of loan and the banks have no risk in lending the amount.
- An advantage for Farmers: Jammu and Kashmir Bank provides special rates of interest to applicants taking the Gold Loan for agricultural purpose. They just need to submit the Agricultural Land documents.
- No Income bounds: The funds received from the loan are not restricted and can be used once completely or even partially. The banks have no control on the amount.
- Security of Assets: The Gold assets kept as security with the bank need not be worried about. The banks keep the assets in fully secured lockers and take the full responsibility of the gold ornaments.
- Fast Process: The bank gives quick disbursal after the approval of the Gold Loan. The total process of the Gold Loan can be completed in about 90 minutes.
- Minimal Documents: Jammu and Kashmir Bank requires minimum amount of documents for approving any application of the loan.
Use of Jammu and Kashmir Bank Gold Loan
You can use Jammu and Kashmir Bank Gold Loan to fulfill your personal needs. You can start a new business by using the given amount of loan. Farmers can avail the service at special interest rates for agricultural purposes. You can also use this amount of loan to get over any financial crises you are facing. The applicant can use this loan for educational purposes. Therefore, the loan seeker can use the loan amount for any purpose and bank does not put any restriction on its usage.
The funds acquired by availing the Jammu and Kashmir Bank Gold Loan service can be used for a number of purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, and etc.
- For all your business needs such as buying raw material, expansion of business, and 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.
Jammu and Kashmir Bank Gold Loan Eligibility
Jammu and Kashmir Bank Gold Loan is a financial product provided by the 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. Jammu and Kashmir 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 Jammu and Kashmir 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 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, and etc. are not recognised as valid forms of Gold to be kept as security for the Jammu and Kashmir 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.
Jammu and Kashmir Bank Gold Loan Interest Rate
Jammu and Kashmir 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 Jammu and Kashmir Bank are lower in comparison to other loans because it is a fully secured loan.
The Gold Loan interest rates in the Bank starts at 11% per annum.
Jammu and Kashmir 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
- Jammu and Kashmir Bank charges no additional fees for part payment or the foreclosure of the Gold Loan.
Jammu and Kashmir Bank Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Jammu and Kashmir 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 Jammu and Kashmir 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 Jammu and Kashmir 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 Jammu and Kashmir 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 Jammu and Kashmir Bank shall be duly submitted.**
Jammu and Kashmir 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 Jammu and Kashmir Bank Gold Loan Rate per Gram also varies every day. Jammu and Kashmir Bank gives a funding of up to 70% of the total market price of your Gold keeping the remaining 30% as security margin.
The amount that you will get for a gram of Gold varies depending on its purity and the market price for your Canara Bank Gold Loan.
**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**
How to Apply for Jammu and Kashmir Bank Gold Loan?
To initiate, The applicant can apply for a Gold Loan through the nearby branch of Bank of India. To find a branch nearby, search Gold Loan near me on google. Next, google enlists all the nearby branches where one can avail a gold loan. You can go to the most suitable branch for you and get the loan. But, this procedure is quite tiring.
Jammu and Kashmir Bank Gold Loan Apply Online
Applying for the Jammu and Kashmir 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 to just 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 on the basis of funding provided and the rate of interest charged to choose the best loan deal for yourself.
- You can avail best deals using the personalised service offered by the Relationship Managers of Dialabank. Just visit and apply today at Dialabank.com.
- You have to fill the Jammu and Kashmir Bank Gold Loan form, and you will get a call from our side automatically.
- You will get a gold loan at low interest rates.
- You don’t have to go to the Jammu and Kashmir Bank as the bank provides you with the facility of document pickup from doorstep. However, this is only available when you apply through our digital platform.
Jammu and Kashmir Bank Gold Loan EMI Calculator
You can easily check the structure of EMI, in order to repay the debts on time. Jammu and Kashmir Bank provides you the option to check the EMI facility before availing the service of Gold Loan.
* For any assistance regarding Gold Loan, call us on 95920-46860 or 60011600, our trained Relationship Managers will provide you best information.
FAQs About Jammu and Kashmir Gold Loan
Q. How much Gold Loan can I get per gram in Jammu and Kashmir Bank?
Gold Loan rate per gram depends on the purity of your gold which ranges between 18K to 22K. The final loan amount is based on current Gold market rates.
Q. What is Jammu and Kashmir Bank Gold Loan?
J&K Bank Gold Loan is a credit scheme provided by the bank at competitive interest rates starting from 11% to 12.60% per annum for a tenure of 6 to 12 months. The Borrower needs to be an existing account holder with the J&K Bank to avail a Gold Loan. The maximum loan amount is ₹15 lakhs.
Q. What is the Gold Loan interest rate in Jammu and Kashmir Bank?
The Interest rates for Gold Loan in J&K Bank start at just 11% per annum and depend on the loan amount to be disbursed. The loan amount varies depending on your personal need and purity and quantity of your gold.
Q. How to pay Jammu and Kashmir Bank Gold Loan online?
You can repay your Gold Loan with J&K Bank through a number of methods, the most common being monthly interest payment, EMI. You can contact your loan branch for further details or contact Dialabank for all personalized financial advice.
Q. How to apply Gold Loan in Jammu and Kashmir Bank?
To apply for Gold Loan with J&K Bank you will be required to visit the branch with your Gold. You can also apply online from anywhere in the world on Dialabank’s website and avail the best offers and rates from different banks across India.
Q. How to renew Jammu and Kashmir Bank Gold Loan online?
In order to renew your Gold Loan upon the end of its tenure, you will be required to visit your loan branch and ask your banker for the renewal of your loan. Your gold will be revalued and new loan terms will be decided.
Q. How to take Gold Loan from Jammu and Kashmir Bank?
You can take a Gold Loan from J&K Bank by going into the branch with your Gold ornaments but you can only avail a Gold Loan from J&K Bank if you’re an existing internal customer. To compare offers from different banks and avail the best deals suited for your needs you can apply for a Gold Loan online with Dialabank.
Q. What is Gold Loan in Jammu and Kashmir Bank?
J&K Bank Gold Loan is easy to avail loan against your gold which can be used to fulfill the financial requirements of an individual. The borrower should be an existing account holder with the J&K Bank to avail a Gold Loan and should also be the owner of the Gold or be closely related to the owner.
Q. How to get Jammu and Kashmir Bank Gold Loan?
Gold Loan from J&K Bank is easy to avail of credit service for urgent fund requirements. You can get a Gold Loan by visiting the bank’s branch with your gold and KYC documents. You shall be an account holder with J&K Bank to avail of this service.
Q. How to check Jammu and Kashmir Bank Gold Loan status?
You can check for your Gold Loan status by contacting the bank branch either in person or through customer care number.
Q. How to close Jammu and Kashmir Bank Gold Loan?
When you want to close your Gold Loan you shall visit the branch and pay all your pending amount. Upon confirmation, your loan will be closed and your Gold will be returned back to you.
Q. How to renew Jammu and Kashmir Bank Gold Loan?
Renewal of Gold Loan can be done by visiting the branch with all the loan documents. The previously kept gold will be evaluated at current market prices and your loan will then be renewed for another tenure.
Q. What happens if someone defaults Jammu and Kashmir Bank Gold Loan?
If someone defaults on the Gold Loan, the bank has full authority to auction your pledged gold ornaments in order to recover the loan amount. Also, defaulting on your loan reduces your credit score making it difficult to avail loans in the future.
Q. How many branches of Jammu and Kashmir Bank Gold Loan?
The bank operates via a well-spread network of 821 computerized branches to provide various banking services.
Table of Contents
- 1 About Jammu and Kashmir Bank Gold Loan
- 2 Features of Jammu and Kashmir Bank Gold Loan
- 3 Use of Jammu and Kashmir Bank Gold Loan
- 4 Jammu and Kashmir Bank Gold Loan Eligibility
- 5 Jammu and Kashmir Bank Gold Loan Interest Rate
- 6 Jammu and Kashmir Bank Gold Loan Documents Required
- 7 Jammu and Kashmir Bank Gold Loan Rate per Gram
- 8 How to Apply for Jammu and Kashmir Bank Gold Loan?
- 9 Jammu and Kashmir Bank Gold Loan Apply Online
- 10 Why Dialabank?
- 11 FAQs About Jammu and Kashmir Gold Loan
- 11.1 Q. How much Gold Loan can I get per gram in Jammu and Kashmir Bank?
- 11.2 Q. What is Jammu and Kashmir Bank Gold Loan?
- 11.3 Q. What is the Gold Loan interest rate in Jammu and Kashmir Bank?
- 11.4 Q. How to pay Jammu and Kashmir Bank Gold Loan online?
- 11.5 Q. How to apply Gold Loan in Jammu and Kashmir Bank?
- 11.6 Q. How to renew Jammu and Kashmir Bank Gold Loan online?
- 11.7 Q. How to take Gold Loan from Jammu and Kashmir Bank?
- 11.8 Q. What is Gold Loan in Jammu and Kashmir Bank?
- 11.9 Q. How to get Jammu and Kashmir Bank Gold Loan?
- 11.10 Q. How to check Jammu and Kashmir Bank Gold Loan status?
- 11.11 Q. How to close Jammu and Kashmir Bank Gold Loan?
- 11.12 Q. How to renew Jammu and Kashmir Bank Gold Loan?
- 11.13 Q. What happens if someone defaults Jammu and Kashmir Bank Gold Loan?
- 11.14 Q. How many branches of Jammu and Kashmir Bank Gold Loan?