Karnataka Vikas Grameena Bank Gold Loan

GOLD LOAN @ 0.57%*
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⍟  Highest Rate Per Gram
⍟  Lowest Interest Rate of 0.57% p.m.

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    Karnataka Vikas Grameena Bank Gold Loan

    About 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. Karnataka Vikas Grameena Bank Gold Loan

    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.

    Karnataka Vikas Grameena Bank Gold Loan Key Features – Apply Now

    Karnataka Vikas Grameena Bank Gold Loan Collateral Gold ornaments
    Karnataka Vikas Grameena Bank Gold Loan per gram
    variable depending on the purity of gold
    Karnataka Vikas Grameena Bank Gold Loan Age of Borrower 18 – 70 years
    Karnataka Vikas Grameena Bank Gold Loan Maximum Loan Amount Up to 10 lakhs
    Karnataka Vikas Grameena Bank Gold Loan Maximum Loan to Gold Value Ratio
    Up to 70%, 90% in case of higher interest rates
    Karnataka Vikas Grameena Bank Gold Loan purity of Eligible gold 18 carat to 22-carat gold
    Karnataka Vikas Grameena Bank Gold Loan Tenure 12 months to 36 months

    How Much Can I Get Through Karnataka Vikas Grameena Bank Gold Loan?

    Karnataka Vikas Grameena Bank Gold Loan Rates/ Gram Jan 2021
    Weight Loan on 18Cr Gold Loan on 20Cr Gold Loan on 22Cr Gold Loan on 24Cr Gold
    1 gm 2455 2737 3020 3302
    10 gms 24550 27370 30200 33020
    20 gms 49100 54740 60400 66040
    30 gms 73650 82110 90600 99060
    50 gms 122750 136850 151000 165100
    100 gms 245500 273700 302000 330200
    200 gms 491000 547400 604000 660400
    300 gms 736500 821100 906000 990600
    500 gms 1227500 1368500 1510000 1651000

    Benefits of Karnataka Vikas Grameena Bank Gold Loan

    1. Low-interest rate.
    2. The loan is processed quickly.
    3. The gold collateral is kept safely in bank lockers of up to the mark quality.
    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. Besides that, No processing fee 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.
    11. Bank charges a borrower up to .50% on the principal outstanding in case of a Gold Loan Foreclosure.

    Interest Rate for Karnataka Vikas Grameena Bank Gold Loan

    In general loan on gold, credit is available at a low-interest rate. Moreover, the reason behind that the Jewel Loan comes in the category of secured loans. So the Best Gold loan interest rate is less than that of a personal loan or any other kind of loan. Though the gold loan rate keeps on changing from time to time as well as from person to person.
    Gold Loan Rate 7% per annum
    Repayment Scheme
    Bullet Repayment Scheme, Overdraft Scheme
    Prepayment Charges 0 – 2 %.
    Service Charges variable
    Document Charges variable
    Gold Valuation Charges variable
    Processing Fee 0.85%.

    Eligibility for Karnataka Vikas Grameena Bank Gold Loan

    Age 18-70 years of age
    Nationality Indian
    Employment Status
    Salaried, Self-Employed
    Gold Quality, Quantity
    Minimum 18 Carats, minimum 10 grams
    Requirements
    Gold ornaments (18-22 carats)
    CIBIL score Above 500

    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:
    Photographs
    2 Passport-Sized latest coloured photos
    Identity Proof
    Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
    Residence Proof
    Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)
    Agricultural Land Proof
    Required only if the Loan is taken for Agricultural Purpose. In the case of Agriculture Loan on the gold of more than Rs. 1 lakh there is no requirement of proof for allied agriculture purposes.
    Demand Promissory Note
    Certificate by the Jewel Appraiser (Bank will arrange)

    Why Should I avail of Karnataka Vikas Grameena Bank Gold Loan

    • The gold loan is available to you online so you can avail of it from the comfort of your houses.
    • The bank provides high funding, up to Rs. 10 lakhs, to take care of your needs.
    • If you cannot pay in the form of EMIs, you have other repayment options.
    • The prepayment charges are very low which helps to reduce the burden of your EMIs
    • The loan gets approved and sanctioned in no time.
    • Karnataka Vikas Grameena Bank Gold Loan also offers convenient disbursal on the same day
    • Minimum documents are required, just for identification
    • The gold is safe in the bank’s lockers
    • You can avail of a loan at just a 1% per month rate of interest.
    • You can easily apply for the Gold Loan by visiting any branch physically or through the website.

    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. Dialabank provides you with the option of applying online. To do so, visit Dialabank.
    2. Fill in your details in the form for our perusal. We will shortlist offers for you
    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 also check whether you are eligible for the loan or not.
    6. Deposit all the documents required as proofs in the banks.
    7. The loan is approved in a few minutes as well as disbursed within a day.
    8. If you want to talk to us directly, call us at 9878981144.

    Karnataka Vikas Grameena Bank Gold Loan EMI Calculator

    Rate of Interest
    6 months 1 Yr 2 Yrs 3 Yrs
    7.00% 17008 8652 4477 3088
    8.00% 17058 8699 4523 3134
    8.50% 17082 8722 4546 3157
    9.00% 17107 8745 4568 3180
    9.50% 17131 8678 4591 3203
    10.00% 17156 8791 4614 3227
    10.50% 17181 8815 4637 3250
    11.00% 17205 8838 4661 3274
    11.50% 17230 8861 4684 3298
    12.00% 17254 8885 4707 3321
    12.50% 17279 8908 4731 3345
    13.00% 17304 8932 4754 3369
    13.50% 17329 8955 4778 3393
    14.00% 17354 8979 4801 3418
    14.50% 17378 9002 4825 3442
    15.00% 17403 9026 4845 3466

    Uses of Karnataka Vikas Grameena Bank Gold Loan

    The Gold Loan can be used for:

    1. Personal expenses
    2. Education Expenses
    3. Business Expenses
    4. Agricultural Expenses

    Karnataka Vikas Grameena Bank Agricultural Jewel Loan Scheme

    Scheme Karnataka Vikas Grameena Bank Agricultural Jewel Loan Scheme
    Interest Rate  Starting from 7% per annum (depends on the sum of the loan
    Least amount of Loan Depends on the value of  jewel which is being kept as security
    Loan period Adjustment of advance sum inside 2 months from the date of reap of yields

    Benefits of Karnataka Vikas Grameena Bank Agricultural Jewel Loan Scheme

    • Karnataka Vikas Grameen Bank does not charge a processing fee up to ₹ 25,000
    • 0.30% of the loan amount, Minimum of ₹ 300 is charged to the amount ranging from above ₹  25,000 – less than ₹ 5 lakh
    • 0.28% of the credit sum, subject to at least Rs.1,500 is applicable to the amount more than Rs.5 lakh however under Rs.1 crore

    Karnataka Vikas Grameena Bank Gold Loan Overdraft Scheme

    Karnataka Vikas Grameen Bank offers an Overdraft Scheme. With this, the loan amount is provided as an overdraft facility. It functions as a Credit Card, where you can spend your Gold Loan Amount as per your wishes, anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Muthoot Finance Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.

    FAQs About Karnataka Vikas Grameena Bank Gold Loan

    What is Karnataka Vikas Grameena Bank Gold Loan?

    Karnataka Vikas Grameena Bank gold loan 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.

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

    Karnataka Vikas Grameena Bank Gold Loan Rate per gram rate depends on the purity of your gold and the current price prevailing in the market. Thus, it varies every day. You can get an attractive 70% loan to the collateral ratio in this bank. In case of higher interest rates, the bank might even provide you with funding up to 90%.

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

    The rate of interest charged on the Karnataka Vikas Grameena Bank gold loan depends on the total amount that will be borrowed and usually starts from 7% per annum per annum.

    How to pay Karnataka Vikas Grameena Bank Gold Loan online?

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

    How to apply for Gold Loan in Karnataka Vikas Grameena Bank?

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

    How to renew Karnataka Vikas Grameena Bank Gold Loan online?

    To renew your Karnataka Vikas Grameena Bank gold loan, 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.

    How to take Gold Loan from Karnataka Vikas Grameena Bank?

    To take a Karnataka Vikas Grameena Bank gold loan, the following steps have to be taken:

    1. visit the nearest branch or the official website.
    2. Apply for a gold loan.
    3. Submit the forms, documents, and your jewellery.
    4. After your jewellery is weighed, the bank will offer you a loan amount.
    5. Accept the offer.
    6. Your loan will be sanctioned.
    7. The processing fee and other charges will be deducted directly from the loan amount.

    How to check Karnataka Vikas Grameena Bank Gold Loan status?

    Checking the status of your Karnataka Vikas Grameena Bank gold 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.

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

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

    ✅How can I apply for the EMI moratorium on the Karnataka Vikas Grameena Bank Gold loan?

    You can apply for a Karnataka Vikas Grameena Bank gold loan EMI moratorium only until 5 days before the EMI payment date. You can apply by providing the bank with your loan details online or by visiting the branch.

    What is the Overdraft Scheme for Karnataka Vikas Grameena Bank Gold Loan?

    Karnataka Vikas Grameena Bank does provide an Overdraft Scheme and the overall loan amount will have a Credit/Loan Limit. In the Karnataka Vikas Grameena Bank Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.

    What is the Karnataka Vikas Grameena Bank Gold Loan closure procedure?

    Once the loan is paid, the bank will close your gold loan immediately.

    What is the Karnataka Vikas Grameena Bank customer care number?

    The customer care number is 9878981144

    ✅ What is Karnataka Vikas Grameena Bank Gold Loan Preclosure charges?

    There are no preclosure charges for the Karnataka Vikas Grameena Bank Gold Loan.

     What is the maximum gold loan tenure?

    The maximum gold loan tenure is 36 months.

    ✅ What is the Karnataka Vikas Bank Gold Loan minimum tenure?

    The minimum tenure for the Karnataka Vikas Bank Gold Loan is 12 months.

    ✅ What are the foreclosure charges in Karnataka Vikas Bank Gold Loan?

    The bank charges a borrower up to .50% on the principal outstanding in case of a Gold Loan Foreclosure

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