Karnataka Vikas Grameena Bank Gold Loan

Gold Rate: ₹ 5,121 Per Gram

⍟ Interest Rate 7.0% p.a. ⍟

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Lowest Rate of Interest
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Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
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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.

Karnataka Vikas Grameena Bank Gold Loan Key Features

Collateral Gold ornaments
Gold Loan per gram
variable depending on the purity of gold
Age of Borrower 18 – 70 years
Maximum Loan Amount Up to 10 lakhs
Maximum Loan to Gold Value Ratio
Up to 70%, 90% in case of higher interest rates
The purity of Eligible gold 18 carat to 22-carat 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
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.
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 a 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.
Gold Loan Rate 10.50% p.a.
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 in just 1% per month rate of interest.
  • You can easily apply for the Gold Loan in 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

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 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 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 10.50% 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.

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