Karnataka Vikas Grameena Bank Gold Loan

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About Karnataka Vikas Grameena Bank Gold Loan

Karnataka Vikas Grameena Bank Gold Loan

Regional Rural Banks (RRBs)  under the provisions of an Ordinance passed on September 1975 and the RRB Act  Thus, RRBs were a low-cost Bank designed to cater to the needs of small and marginal farmers, rural artisans, petty traders, etc., who operate in rural areas and bring them into the economic mainstream, as 70% of the Indian population is of rural orientation.

In Karnataka state, Syndicate Bank had sponsored four RRBs, namely Malaprabha Grameena Bank, Bijapur Grameena Bank, Varada Grameena Bank, and Netravathi Grameena Bank. The single entity that so emerged now operates in the nine districts of Bagalkot, Belgaum, Bijapur, Dakshin Kannada, Dharwad, Gadag, Haveri, Udupi and Uttar Kannada catering to the financial needs of the people in these districts.

Features of Karnataka Vikas Grameena Bank Gold Loan

  1. Low-interest rate.
  2. Quick processing.
  3. Your Gold is safe and secured in a bank locker.
  4. You can use the gold loan money for any personal purpose.
  5. Less documentation only, No CIBIL score required in Karnataka Vikas Grameena Bank Gold Loan.
  6. Furthermore, Flexible repayment options as well as lower monthly outflow.
  7. Beside that No processing fees is charged for Karnataka Vikas Grameena Bank Gold Loan.
  8. Low or no foreclosure charges.
  9. Bad credit history, not an issue.
  10. Instant Processing and Disbursal in Karnataka Vikas Grameena Bank Gold Loan.
Interest Rate for Karnataka Vikas Grameena Bank Gold Loan
In general loan on gold, the credit is available at a low interest rate. Moreover, the reason behind that the Gold Loan comes in the category of secured loans. So the Gold interest rates are less than that of personal loan or any other kind of loans. Though the gold loan rate keeps on changing time to time as well as person to person.
  • The Karnataka Vikas Grameena Bank Gold Loan is available at 1% PM interest rate.
  • Gold Loan Interest rate – 10.70 %.
  • Offer low processing fee that is  0.85%.
  • pre-closer charges range from  0 – 2 %.

Eligibility for Karnataka Vikas Grameena Bank Gold Loan

  1. The applicant should be an Indian citizen.
  2. Age limit minimum – 18 year and maximum – 70 years.
  3. An applicant should own his/her gold
  4. The purity of the gold ornament should lie in between 18 Karats to 22 Karats.
  5. The applicant should have gold weigh more than 10 Grams at least.

Documentation for Karnataka Vikas Grameena Bank Gold Loan

However, the process of documentation in Karnataka Vikas Grameena Bank Gold Loan is very easy and simple but, still, there are certain documents that a bank asks for a loan on gold:
  1. Identity Proof – Firstly one proof of identity is required. Anyone of the given proofs is valid (Aadhar Card/Voters Card/Driving License/ Passport)
  2. Residence Proof – After that, one proof of residence is also required to get a loan on gold. It can be like (Aadhar Card/PAN Card/Ration Card/ Electricity Bill of last three months with the name of the applicant/ Telephone Bill of previous three months with the name of applicant / Passport Copy)
  3. The applicant should have two passports sized colored photographs.

Additional Documentation for Karnataka Vikas Grameena Bank Gold Loan.

The bank needs a Proof of ownership of Land if you are applying for an agriculture gold loan:
  1. Land Proof – In the case of Agriculture Loan on gold of more than Rs. 1 lakh there is no requirement of proof for allied agriculture purposes.
  2. Required a Demand Promissory Note – Certificate by the Jewel Appraiser (Bank will arrange).
  3. Income Proof or Salary Certificate as well as Form No.16

Benefits of Karnataka Vikas Grameena Bank Gold Loan

  • You can get a Gold Loan Online, no need to go anywhere.
  • High Funding is available to the customers
  • It also provides Gold Loan with the flexible repayment scheme with multiple options.
  • There are no prepayment charges in Karnataka Vikas Grameena Bank
  • Bandhan Bank also provides instant approval and sanctioning of the Loan
  • Karnataka Vikas Grameena Bank Gold Loan also offers quick disbursals
  • Bandhan bank also requires minimum documentation for the loan approval
  • It provides safe and secure custody of the Gold
  • It gives loan at a low rate of interest
  • It provides a maximum of Rs 10 lakh loan
  • You can easily apply for the Gold Loan in Vikas Grameena Bank

How to apply for Karnataka Vikas Grameena Bank Gold Loan?

To start, the best option to apply for a gold loan is through Dialabank. When you apply through Dialabank, you will not have to worry about finding the best choice near you. Also, We provide all our services free of cost. Follow the steps to get a loan very easily:
  1. You can easily Apply Online through our website. To do so, Click Here.
  2. The loan seeker has to fill a form Online with current information.
  3. You get a call from our Relationship Manager to clear all doubts and to assist you in the entire process of the loan.
  4. The best Gold Loan Interest Rate is suggested to you by our managers.
  5. You can check your eligibility for further clarification of the approval of a loan.
  6. Deposit all the documents required as proofs in the banks.
  7. The loan is approved in few minutes as well as disbursed within a day.
  8. If you want to talk to us directly, call us at 9592046860.

FAQs About Karnataka Vikas Grameena Bank Gold Loan

Q. How much Gold Loan can I get per gram in Karnataka Vikas Grameena Bank?

Gold Loan rate per gram depends on the purity of your gold and the current price prevailing in the market.

Q. What is Karnataka Vikas Grameena Bank Gold Loan?

Gold Loan service of Karnataka Vikas Grameena Bank is a financial product offered by the bank for fulfilling the monetary needs of customers. The bank provides the loan at competitive interest rates for a flexible tenure which can be renewed as well.

Q. What is the Gold Loan interest rate in Karnataka Vikas Grameena Bank?

The rate of interest charged on the gold loan depends on the total amount that will be borrowed and usually starts from 10.70% per annum.

Q. How to pay Karnataka Vikas Grameena Bank Gold Loan online?

You can pay for the loan using various convenient methods offered by Karnataka Vikas Grameena Bank. For detailed information, you can contact the customer care executive.

Q. How to apply Gold Loan in Karnataka Vikas Grameena Bank?

Apply for a Gold Loan from Karnataka Vikas Grameena Bank by visiting the branch and filling a form. You need to submit the form with documents and wait for the approval. You can also apply through Dialabank’s digital platform to get easy approval and personalized assistance.

Q. How to renew Karnataka Vikas Grameena Bank Gold Loan online?

Visit your loan branch with the loan documents and apply for a renewal with your loan officer. After revaluation of your gold and payment of any fee as applicable, your loan will be renewed for another term.

Q. How to take Gold Loan from Karnataka Vikas Grameena Bank?

Taking the Gold Loan is a simple and hassle-free process. You just need to be eligible for the loan and in possession of gold to apply either online or offline. Karnataka Vikas Grameena Bank gives quick disbursement with low processing charges.

Q. What is Gold Loan in Karnataka Vikas Grameena Bank?

Karnataka Vikas Grameena Bank provides an advance against gold service to fulfill the need of funds of the borrowers. They just need to apply for the loan by visiting the branch with the gold and the required documents to get quick disbursement.

Q. How to get Karnataka Vikas Grameena Bank Gold Loan?

Getting Gold Loan depends on whether you’re eligible for the product or not. Eligible candidates can apply through Dialabank’s digital platform to get personalized assistance for taking the best deal suitable to their needs.

Q. How to check Karnataka Vikas Grameena Bank Gold Loan status?

Checking the status of your loan can be done by visiting the branch and contacting the loan officer. You can also email the bank for checking the status from the comfort of your home.

Q. How to close Karnataka Vikas Grameena Bank Gold Loan?

Closure of Gold Loan takes place once the amount due to the loan has been realized by the bank and gold ornaments are released.

Q. How to renew Karnataka Vikas Grameena Bank Gold Loan?

For the renewal of your Gold Loan visit the nearest Bank branch where your previously pledged gold will be released and revalued according to the current market rates and renewal fee might be charged as applicable.

Q. What happens if someone defaults Karnataka Vikas Grameena Bank Gold Loan?

If you are unable to make the payment for the Gold Loan from Karnataka Vikas Grameena Bank, the bank charges a penalty fee from the borrower which will reflect in your credit score affecting your loan taking ability in the future.

Q. How many branches of Karnataka Vikas Grameena Bank Gold Loan?

The Karnataka Vikas Grameena Bank is an Indian Regional Rural Bank. The bank provides retail banking services to rural users and has more than 600 branches in areas of Karnataka, around Dharwad.

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