Kerala Gramin Bank Gold Loan Features
Kerala Gramin Bank Gold Loan is a convenient way to get monetary support against your gold. It is not always necessary to sell your gold off when you can avail a loan against it. Kerala Gramin Bank Gold Loan Approval Process is very easy for customers to follow as the bank undertakes all the activities with complete transparency.
Dialabank can help you know more about the perfect gold loan that you want to avail yourself of. Some features of Gold Loans are:
- Low-interest rates: Gold loans starting at 11.99% p.a.
- Loan amounts from Rs.20,000 up to Rs.1 lakh can be availed.
- 0.5% processing fee.
- Comfortable return options and tenures: You can choose from various EMI options.
- Quick processing: Gold loans are handed out even within hours, making it easier to avail.
- Easy documentation: Documents are processed quickly.
- Safe and secure: Your gold remains safely with the bank till you pay back the borrowed amount with interest.
Kerala Gramin Bank Gold Loan Eligibility
Minimum and Maximum Age
Note: However, many banks require a minimum age of 23 years
Interest rates are lower for a higher loan amount
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
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
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 with 18-24 carat purity
Employment track record and income proofs
Kerala Gramin Bank Gold Loan Documents Required
At the time of application the following documents are required:
At the time of disbursement the following documents are required:
Kerala Gramin Bank Gold Loan Approval Process
Kerala Gramin Bank Gold Loan Approval process is quite seamless and easy to follow. Steps to be followed are:
- You can submit your loan request offline with relevant documents.
- You will have to carry the gold, as it would have to be valued and handed over in the bank if the loan is approved.
- Once your application is submitted, and documents are verified, the loan amount is processed and handed over.
- This process can even be completed within an hour if the documentation is perfect.
FAQs on Kerala Gramin Bank Gold Loan Approval Process
✅ Are gold loans based on high interest rates?
Gold loan interest rates are usually nominal and lie somewhere around 9 to 12% usually, but this may depend on various factors.
✅ What are the types of gold loans?
Gold loans are of 2 types, Personal and Realty.
✅ How long does it usually take to process a gold loan?
It usually takes around an hour to disburse the loan if your documents and eligibility are perfect.
Table of Contents
- 1 Kerala Gramin Bank Gold Loan Features
- 2 Kerala Gramin Bank Gold Loan Eligibility
- 3 Kerala Gramin Bank Gold Loan Documents Required
- 4 Kerala Gramin Bank Gold Loan Approval Process
- 5 FAQs on Kerala Gramin Bank Gold Loan Approval Process