About Kotak Mahindra Bank Gold Loan
There are so many banks and non-banking financial companies in India that provides various financial products to the customers. These can be banking, insurance, loans or credit cards. Loans are the widely used product provided by the banks.
People usually tend to get the loan in case of any financial problem. Gold loan is a type of loan where you get the loan amount against the pledged gold assets. Kotak Mahindra Bank is one of the gold loan provider banks in India.
About Kotak Mahindra Bank
Kotak Mahindra Bank is a private sector bank of India. This bank has a license given by RBI and this bank is founded in February 2003. It is a 2nd private bank in the public sector in India. It serves so many financial products to people like banking, home loan, personal loan, gold loan, credit cards etc.
Gold loan is the one of the best financial product given by the bank. Gold loan is easily accessible with less documentation and without waiting for a long time. There are no security and trust issues too because the bank is well reputed and takes care of all the assets of the customer. Repayment options are very comforting.
Advantages of Kotak Mahindra Bank Gold Loan
- Kotak Mahindra bank is very reliable and trustworthy financial organization in India.
- Gold loan interest rates in Kotak Mahindra bank are very low. Bank takes care of all the needs of the customers. Time for the disbursal is very small. Very less documentation is required to apply for the loan.
Interest Rates for Kotak Mahindra Bank Gold Loan
- Interest rates offered by the bank to the customers are comparatively very low. It starts at 10.5% and can be up to 17%.
- Kotak Mahindra Bank Gold Loan can be varied a little bit up and down.
- The amount of loan – 10000 to 10 lakh.
- Time to return gold loan is 12 months for Ornament Scheme Gold Loan and it is 30 months for Term Loan Gold Loan. Processing fees are 2% of the loan amount. Prepayment charges are 2% to 4%.
Eligibility Criteria for Kotak Mahindra Bank Gold Loan
- There are some conditions that the applicant should fulfill to get a gold loan. These are written below
- Age of the applicant should be more than 18 years.
- Applicant should have gold in the form of coins/ jewelry/bricks. But the purity of the gold should be 18 karats to 22 karats.
Documents Required for Kotak Mahindra Bank Gold Loan
For Kotak Mahindra Bank customer
Recent identity proof. It can be any of (Aadhar card, Pan Card, Voter ID card, Driving Licence, Passport )
For Non-Kotak customer
The process of documentation is very easy and simple.
- Identity proof (Passport/Id card/voter card/driving license) can be any one of them. Everyone easily has these documents so there is no problem with the submission.
- 3 passport sized colored photographs are required.
- Residence proof can be Aadhar card, voter card, and passport (Passport/Id card/voter card/driving license). Electricity and water bill for the last three months but with the name of the applicant.
- Driving license is also regarded as a proof of identity and residence proof because it contains the name, date of birth and a photograph of the customer. But the condition is that it should not be expired.
- Aadhar card with your photograph and the proper date of birth is considered as the proof of Identity.
- PAN Card can also be used as the proof of identity as well as the proof of residence.
- Ration card is also the addition in the proof of residence, if you have ration card then you can also present it as proof of residence.
Forms of Gold
- All the gold in the form of jewelry is acceptable.
- Gold coins weight less than 50 grams are acceptable.
- Gold in the raw form is not acceptable.
- The quality of the golf should be 18 carats to 24 carats.
- Gold bars and bricks are unacceptable.
- Minted coins are not accepted for the gold loan.
How can you Apply?
You can easily apply for the Kotak Mahindra bank gold loan online on dialabank
- First of all, open the website of the dialabank.
- After that fill the form online on the website with your basic information.
- You will get a call back from their side.
Table of Contents
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