Karur Vysya Bank (KVB) Gold Loan Features
|Karur Vysya Bank Gold Loan at a Glance|
|KVB Gold Loan Interest Rate||7.0% per annum|
|KVB Gold Loan Rate Per Gram||Gold Loan Rate Per Gram today is ₹ 5121|
|Tenure||Up to 12 months|
|Processing Fee||1% of the loan amount|
Each Feature Explained in Detail Below
Advantages of Karur Vysya Bank (KVB) Gold Loan
- Loan Amount: A maximum amount of Rs.10,00,000 can be availed.
- EMI options: Hassle-free payment of EMIs.
- Instant liquidity: Enjoy liquidity of cash at any time. Generate instant cash in time of an urgent need.
- Security: The customer is assured that his/her gold is kept safe inside the bank vault.
- Interest Rates: Individuals can get the advantage of lower interest rates for this loan.
- A person can also apply for Gold Finance on Agricultural Land on their name and get a discount of 1% on the interest rate charged.
Karur Vysya Bank Gold Loan Per Gram
According to the latest prices of gold prices, KVB offers a gold loan per gram today of ₹ 5121. The highest KVB gold loan rate per gram now is ₹ 5121 for 22-carat jewellery calculated at a maximum LTV of 75% and average gold loan rates of the last 30 days in 2020 are ₹ 5121 of 22 carats.
KVB Gold Loan Rate Per Gram – Updated October 2020
Updated - Gold Loan Per Gram Rate w.e.f 1 Oct 2020
|Gold Weight||Gold Purity
About Karur Vysya Bank Gold Loan
Karur Vysya Bank began its operations in 1916 in Karur. The bank provides many financial services and products to retail and institutional consumers. These include loans for personal needs. Many people need instant finance for certain expenses, and a Gold Loan is the best suited for such short term needs. It provides instant loans against gold. Gold Loan is taken to overcome the short term requirements of a person.
Karur Vysya has it’s gold loan scheme named as Swarna Mitra which has many features.
Gold is one of the most precious and costly metals in India. Its value in our lives cannot be ignored because every person is attached to it emotionally. However, what is the point of keeping your gold in a closed drawer when it can help you in times of an emergency? Taking a Loan Against Gold can help you overcome any drastic situation. Gold Loan is the best way to get cash in a short span.
- KVB Gold Loan Interest Rate is 7.0% per annum
- KVB Gold Loan Per Gram Rate Today is ₹ 5121
- KVB Gold Loan Tenure: Up to 24 months
- KVB Gold Loan Processing Fee is Up to 1% of the Loan Amount + GST
Karur Vysya Bank (KVB) Gold Loan Eligibility
Karur Vysya Bank Gold Loan is a fiscal scheme released by the bank to cater to your needs of short and long term funds. It is simple to avail of commercial service provided by Karur Vysya at low interest and also requires minimal documentation for the same. Karur Vysya 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.
Primary Eligibility criteria for availing the Karur Vysya Bank Gold Loan is:
|Requirements||Gold ornaments (18-22 carats)|
|CIBIL score||Above 500|
Karur Vysya Bank (KVB) Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Karur Vysya 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 Karur Vysya Bank Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures high protection of your gold ornaments till the loan is closed.
Documents required for applying for Karur Vysya Bank Gold Loan are :
|Identity Proof||Aadhar Card/Pan Card/ Passport/ Voter ID (Anyone)|
|Residence Proof||Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card (Anyone)|
|Agriculture Proof ( if applicable)||Agriculture Land Ownership Proof|
|Photographs||2 Passport sized colored|
Karur Vysya Bank (KVB) Gold Loan Interest Rates, Fees & Charges
Karur Vysya 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 Karur Vysya Bank are lower in comparison to other loans because it is a fully secured loan.
The Gold Loan interest rates in the bank start at 7.0% per annum.
|Swarnamitra||7.0% Interest Rate per annum|
|Primary security||Pledge of Gold Jewellery with Minimum purity of 22 Carats and Gold Ingots sold by banks.|
|Collateral security||Nil (Optional)|
|Processing charges||0.50 Per Loan of Rs.100.00 (inclusive of Appraisal charges)|
|Minimum Loan Amount||Rs.1.00 Lakhs|
|Repayment Tenor||12 Months (Overdraft Facility). The Limit can be renewed for a further period of 12 months, subject to the discretion of sanctioning authority.|
Karur Vysya Bank (KVB) Gold Loan Schemes
|S.No||Jewel Loan Products||Per Gram Rate (Rs.)||Rate Of Interest (%) With Effect From 24.02.2016||Maximum Limit|
|JEWEL LOAN (AGRI)|
|1||JEWEL LOAN (AGRI)-12 MONTH||1950||10.4||Any amount|
|(Long term)||(Base rate)||(Based on extend of land and cultivation)|
|2||KVB QUICK JEWEL LOAN (AGRI)-6 MONTH||2000||10.4||Rs.25 lacs|
|(Short term)||(Base rate)|
|JEWEL LOAN – OTHERS (NON-AGRI)|
|3||JEWEL LOAN (OTHERS)-12 MONTH||1625||12||Rs.40 lacs|
|3||JEWEL LOAN (TRADE)-12 MONTH||1625||11.75||Rs.40 lacs|
|4||KVB QUICK JEWEL LOAN (TRADE) – 6 MONTH||1725||12.15||Rs.25 lacs|
|5||KVB QUICK JEWEL LOAN (PERSONAL) – 6 MONTH||1725||12.15||Rs.25 lacs|
|6||KVB-SWARNA MITHRA SCHEME||1900||12||Rs.75 lacs|
|OVERDRAFT (OD) PRODUCT||(Base rate+1.60)|
KVB Gold Loan Apply Online
You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.
- Minister Dialabank’s digital platform, where you will have only to fill a form without any registration.
- Our Contact Director will talk to you and help you during the Gold Loan rule and lead you to fulfill your business necessities.
- You will get personalized help, giving you a choice to compare and choose the most desirable deal according to your demands without any extra charges.
- With Dialabank, you can connect the various offers and schemes from multiple banks based on funding given and the rate of interest charged for choosing the most suitable loan deal for yourself.
Karur Vysya Bank Gold Loan EMI Calculator
|Rate||6 months||1 Yr||2 Yrs||3 Yrs|
How to Pay Your Karur Vysya Bank Gold Loan EMI?
Your Karur Vysya Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If a person is a current account owner with Karur Vysya Bank, Standing Instruction is the most reliable mode of repayment. Your EMI amount will be charged automatically toward the finish of the month to month cycle from the Karur Vysya Bank account you indicate.
- Electronic Clearing Service (ECS): This method can be employed if you have a non-Karur Vysya Bank account and might need your EMIs to be required consequently near the finish of the month to month cycle from this account.
- Post-Dated Checks (PDC): Person can present post-dated EMI checks from a non-Karur Vysya Bank account at your closest Karur Vysya Bank Loan Center. A new version of PDCs should be given on time. It will be comprehensive if you see Post Dated Checks will be collected non-ECS areas as it were.
Karur Vysya Bank (KVB) Gold Loan Contact Number
For any assistance regarding a gold loan in Karur Vysya Bank, you can contact on the number 9878981144
Gold Ornaments Accepted by Karur Vysya Bank (KVB)
- The Karur Vysya bank accepts only Gold jewellery of 18 carats to 22 carats.
- Minted gold coins are not accepted.
- The applicant should pledge at least 10 grams of gold to get a gold loan.
Use of Karur Vysya Bank (KVB) Gold Loan
The funds acquired by availing the Karur Vysya Bank Gold Loan service can be used for several purposes such as:
- To bankroll any special payments such as a trip, wedding, payment of higher education fees, etc.
- For all your market needs, such as the expansion of business, buying raw material, etc.
- You can also avail of a Gold Loan for farming ideas. The bank advances more moderate rates of interest for Gold Loans that are used for agriculture or related activities.
FAQs About Karur Vysya Bank Gold Loan
✅ What is Karur Vysya Bank Gold Loan?
Gold Loan by Karur Vysya Bank is an easy to avail financial service for the fulfilment of your business needs at attractive rates of interest and a maximum tenure of 12 months. The bank requires minimal documentation and has convenient modes of repayment.
✅ How to get a Gold Loan?
You can take a Gold Loan in quick and easy steps:
- Visit Dialabank and submit a duly filled application form along with your documents.
- You will be contacted by Dialabank’s Relationship Manager to assist you further.
- We will suggest you the best deals and offers on gold loan.
- Submit your gold with the assigned bank and get your money in your bank account within an hour.
✅ How much Gold Loan can I get per gram in Karur Vysya Bank?
You can get your Karur Vysya Gold Loan on per gram of your gold starting from Rs. 5,121 depending on the quality of the gold.
✅ How does Karur Vysya Bank Gold Loan work?
The Karur Vysya Bank Gold loan is a secure credit availing service available for those who have urgent cash requirements and can pledge gold ornaments as collateral security. Once the gold pledged with the bank is valued, the bank processes the loan amount in your indicated account immediately. Various repayment options are available for repaying the loan.
✅ What is the Gold Loan interest rate in Karur Vysya Bank?
The rate of interest for Karur Vysya Bank Gold Loan starts at 7.0% per annum. These rates depend on the amount of Gold Loan sanctioned and the purpose of use.
✅ How to check Karur Vysya Bank Gold Loan status?
You can quickly check the status of your Gold Loan by visiting your loan branch and asking your banker in person. You can also contact the customer care number of the bank to stay updated with all your loan details.
You can easily calculate the gold loan interest rate in Karur Vysya Bank by subtracting the principal amount from the total sum to be paid.
You can get a maximum amount of Rs 1 crore on a Karur Vysya Bank Gold Loan as the bank offers around 75% of the gold ornaments’ market value.
The maximum tenure of your Karur Vysya Bank Gold Loan is up to 36 months. However, kindly renew your loan plan after a year.
A processing fee of 1% of the loan amount is charged.
✅ How to renew Karur Vysya Bank Gold Loan?
Once you reach the end of your Gold Loan tenure, you can renew it by visiting your loan branch and submitting a renewal form. For more information, you can contact your loan officer.
✅ How to renew Karur Vysya Bank Gold Loan online?
You can renew your Gold Loan with Karur Vysya Bank by applying for renewal with your loan branch. Your gold will be released and valued again at the latest market prices, and upon agreement of terms, your loan will be renewed.
Bank charges approximately Rs. 250- Rs. 500 for renewal of the gold loan.
Karur Vysya Bank charges 1% for the pre-payment of the gold loan.
✅ How to pay Karur Vysya Bank Gold Loan Interest online?
You can pay for your Karur Vysya Bank Gold Loan online through the net-banking facility of the bank. You can also give a Standing Instruction or use ECS to pay your EMIs directly from your bank.
If someone defaults on the payments of Karur Vysya Bank Gold Loan interest for three months, a penalty fee is charged on the total amount due, and in case of repeated defaults, the bank will have the authority to auction your gold ornaments to recover the amount publicly.
You can apply for the Karur Vysya Bank Gold loan moratorium online by logging in with your credentials or by personally visiting the main branch. The moratorium request has to be submitted at least five working days before the due date of your EMI.
As per RBI Guidelines, Karur Vysya Bank Gold loan cannot be repaid via credit cards. Other payment modes such as net banking, debits cards, cheques, DDs can be used for loan repayment.
Other Major Gold Loan Providers
Table of Contents
- 1 Karur Vysya Bank (KVB) Gold Loan Features
- 2 Advantages of Karur Vysya Bank (KVB) Gold Loan
- 3 Karur Vysya Bank Gold Loan Per Gram
- 4 About Karur Vysya Bank Gold Loan
- 5 Karur Vysya Bank (KVB) Gold Loan Eligibility
- 6 Karur Vysya Bank (KVB) Gold Loan Documents Required
- 7 Karur Vysya Bank (KVB) Gold Loan Interest Rates, Fees & Charges
- 8 Karur Vysya Bank (KVB) Gold Loan Schemes
- 9 KVB Gold Loan Apply Online
- 10 Karur Vysya Bank Gold Loan EMI Calculator
- 11 How to Pay Your Karur Vysya Bank Gold Loan EMI?
- 12 Karur Vysya Bank (KVB) Gold Loan Contact Number
- 13 Gold Ornaments Accepted by Karur Vysya Bank (KVB)
- 14 Use of Karur Vysya Bank (KVB) Gold Loan
- 15 FAQs About Karur Vysya Bank Gold Loan
- 15.1 ✅ What is Karur Vysya Bank Gold Loan?
- 15.2 ✅ How to get a Gold Loan?
- 15.3 ✅ How much Gold Loan can I get per gram in Karur Vysya Bank?
- 15.4 ✅ How does Karur Vysya Bank Gold Loan work?
- 15.5 ✅ What is the Gold Loan interest rate in Karur Vysya Bank?
- 15.6 ✅ How to check Karur Vysya Bank Gold Loan status?
- 15.7 ✅ How to calculate Gold Loan Interest in Karur Vysya Bank?
- 15.8 ✅ What is maximum loan amount I can avail on Gold Loan from Karur Vysya Bank?
- 15.9 ✅ What is the loan tenure of Karur Vysya Bank Gold Loan?
- 15.10 ✅ How much Processing Fee is applicable on Karur Vysya Bank Gold Loan?
- 15.11 ✅ How to renew Karur Vysya Bank Gold Loan?
- 15.12 ✅ How to renew Karur Vysya Bank Gold Loan online?
- 15.13 ✅ What are the charges for renewal in Karur Vysya Bank Gold Loan?
- 15.14 ✅ What are the charges for Pre-payment in Karur Vysya Bank Gold Loan?
- 15.15 ✅ How to pay Karur Vysya Bank Gold Loan Interest online?
- 15.16 ✅ What if I cannot pay the interest on Karur Vysya Bank Gold Loan for three months?
- 15.17 ✅ How can I apply for EMI Moratorium on Karur Vysya Bank Gold Loan?
- 15.18 ✅ How to pay Karur Vysya Bank Gold loan through credit card?
- 16 Other Major Gold Loan Providers