JK Grameen Bank Gold Loan Approval Process


I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

JK Grameen Bank Gold Loan Approval Process

JK Grameen Bank Gold Loan Features

The features of JK Grameen Bank Gold Loan Approval Process are :

  • JK Grameen Bank Gold Loan Approval ProcessEasy Procedure of obtaining Loan: JK Grameen Bank disburses 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 JK Grameen 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:  JK Grameen Bank usually has either around 1% or no minimum prepayment charges on gold loans.

JK Grameen 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
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.

JK Grameen 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

JK Grameen Bank Gold Loan Approval Process

The following is a simplified version of the JK Grameen Bank Gold Loan Approval Process:

  • Visit the home branch or the nearest branch of JK Grameen Bank.
  • Fill out the application.
  • Provide all necessary documents to the bank like your KYC documents.
  • Take your gold to the bank for its evaluation to ascertain loan amount.
  • Discuss and evaluate loan terms with the bank’s representative.
  • After due evaluation of your application, the loan will be granted.

You can also apply with Dialabank for a hassle-free process.

FAQs on JK Grameen Bank Gold Loan Approval Process

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

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

What is the processing fee for J & K Grameen Bank Gold Loan?

The processing fee for J & K Grameen Bank Gold Loan is Rs. 500.

What is the maximum tenure for a gold loan for J & K Grameen Bank?

The maximum tenure for a gold loan for J & K Grameen Bank is 1 year.