Features of Madhya Pradesh Gramin Bank Gold Loan Documents Required
Madhya Pradesh is one of the states of India which is situated in the heart of the Country. Customers can apply for Gold Loans in Madhya Pradesh Gramin Bank. For more queries/details, Dialabank is always there for its customers.
The key features of Madhya Pradesh Gramin Bank Gold Loan are as follows:
- Prepayment Charges: Madhya Pradesh Gramin Bank Gold Prepayment Charges are 2%+GST Within three Months and zero After three months.
- Zero Processing Fees: Several banks and NBFCs don’t charge any processing fees since gold loans are provided instantly with gold as collateral control by the bank.
- Rate Per Gram: Madhya Pradesh Gramin Bank Gold Loan Rate Per Gram is ₹ 3,506 to ₹ 4,621
- Interest Rate: Madhya Pradesh Gramin Bank Gold Loan Interest rate is 7% per annum.
Madhya Pradesh Gramin Bank Gold Loan Comparision with banks
| Bank / NBFC | Rate Per Gram | Interest Rate | Gold Loan Tenure | Min – Max Loan Amount |
| ₹ 3,506 to ₹ 4,621 | 0.099 | 3 to 24 months | ₹ 10 thousand to 5 crore | |
| Private Gold Loan | ₹ 3,506 to ₹ 4,621 | 0.1 | 6 to 12 months | ₹ 10 thousand to 5 crore |
| ₹ 3,506 to ₹ 4,621 | 0.12 | 7 days to 36 months | ₹ 3 thousand to 1 crore | |
| ₹ 3,506 to ₹ 4,621 | 0.1225 | 12 months | ₹ 3 thousand to 1 crore | |
| ₹ 3,506 to ₹ 4,621 | 0.1025 | 36 months | ₹ 20 thousand to 50 lakh | |
| ₹ 3,506 to ₹ 4,621 | 0.1 | 3 to 36 months | ₹ 10 thousand to 5 crore | |
| SBI Gold Loan | ₹ 3,506 to ₹ 4,621 | 0.0975 | 12 to 36 months | ₹ 20 thousand to 50 lakh |
| ₹ 3,506 to ₹ 4,621 | 0.075 | 3 to 36 months | ₹ 20 thousand to 50 lakh | |
| ₹ 3,506 to ₹ 4,621 | 0.1025 | 12 months | ₹ 20 thousand to 50 lakh | |
| ₹ 3,506 to ₹ 4,621 | 0.1025 | 12 months | ₹ 10 thousand to 5 crore | |
| IIFL Gold Loan | ₹ 3,506 to ₹ 4,621 | 0.12 | 11 months | ₹ 3 thousand to 50 lakh |
Madhya Pradesh Gramin Bank Gold Loan EMI calculator
The EMI Calculator calculates your monthly EMI at the chosen rate for a selected period. The EMI is set by the loan quantity, rate, and loan term.
Loan quantity: If you provoke a bigger gold loan online, your EMI is higher.
Interest rate: The rate is directly proportional to the value of EMI. The higher the rate higher the EMI.
Loan Duration: In the case of an extended loan amount/period, the EMI on a gold loan is reduced.
Madhya Pradesh Gramin Bank Gold Loan Documents Required
Madhya Pradesh Gramin Bank Gold Loan Documents Required are mentioned below:
At the time of application the following documents are required:
- Proof of the citizenship of India
- Duly filled application form
- 2 passport-sized photographs
- Applicant’s KYC documents to establish Identity and Address
- Salary/ Income Proof
- Witness Letter in case of illiterate borrowers
- In the case of Agriculture Loan of more than Rs. 1 lac, land proof
- Certificate by the Jewel Appraiser (Bank will arrange)
At the time of disbursement the following documents are required:
- Demand Promissory Note & Demand Promissory Note Take Delivery Letter
- Gold Ornaments Take Delivery Letter
- Arrangement Letter
Madhya Pradesh Gramin Bank Gold Loan Documents Required – FAQs
✅ Is taking a gold loan safe?
Gold loans are thought-about a secure investment possibility. Physical gold might not yield nice worth or it’s going to be terribly less, however, with gold loans borrowers will build use of the money for varied expense needs.
✅ What are the documents needed for a gold loan?
Aadhaar Card issued by UIDAI, PAN (Permanent Account Number) Card (along with any of above-mentioned documents), One Passport Size Photograph, Agri Allied Occupation Documentation( only in case of bullet reimbursement for agriculture customers)
✅ Is checking account necessary for a gold loan?
To avail a gold loan in Madhya Pradesh Gramin Bank, you do not have to be compelled to submit any document for financial gain or remuneration proof as banks and non-financial establishments offer gold loans with the smallest documents for identity and address proof.
