Madhya Pradesh Gramin Bank Gold Loan Key Features – Apply Now
| Madhya Pradesh Gramin Bank Gold Loan Interest Rate | 7.25% per annum |
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Madhya Pradesh Gramin Bank Gold Loan Rate Per Gram
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Rate Per Gram is ₹ 3,800 to ₹ 4,350 |
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Madhya Pradesh Gramin Bank Processing Fee
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0.75% of the Principal Loan Amount
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| Madhya Pradesh Gramin Bank Maximum Loan Amount |
Up to Rs. 1 Crore (With Income Proof)
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| Madhya Pradesh Gramin Bank Minimum Loan Amount |
70% LTV
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Madhya Pradesh Gramin Bank Gold Prepayment Charges
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2%+GST (Within 3 Months), 0 (After 3 months)
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Madhya Pradesh Gramin Bank Gold Repayment Tenure
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Up to 36 Months
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Madhya Pradesh Gramin Bank Gold Repayment Scheme
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Bullet Payment Scheme, Overdraft Scheme
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Advantages of Madhya Pradesh Gramin Bank Gold Loan
- Transparent System – Firstly, the system of the Gold Loan is very clear. Therefore, there are no hidden norms.
- No Debt Burden – Secondly, There can be situations in which a borrower is not able to repay the gold loan amount in such a case the borrower will not be under debts as the bank will position to take Gold jewelry.
- Low Rate of Interest – Most importantly, the applicant will have to pay a low-interest rate in comparison to other loans.
- The low-interest rate for Farmers – As a matter of fact, The farmers are given a rebate on the rate of interest on availing the gold loan.
- No Income bounds – There are no restrictions on the salary or income of the borrower hence, a person with any income rage can avail of a gold loan from the bank/NBFC’s.
- Security of Assets – One of the significant advantages, the borrower does not, has to worry about the safety of the gold ornament as it is the headache of the bank/NBFC’s and not the owner for protection of there ornament.
- Quick Process – This is a secured loan. Therefore, you can get your gold loan disbursed in just 30min.
- Less Documentation process – Lastly, the applicant has to submit decidedly fewer documents to avail a gold loan which makes it a hassle-free service.
- Foreclosure: Madhya Pradesh Gramin Bank Gold Loan enables a borrower to .50% on the key astonishing if there should be an occasion of a Gold Loan Foreclosure.
How many loans Can I Get Through Madhya Pradesh Gramin Bank Gold Loan?
| Madhya Pradesh Gramin Bank Gold Loan Rates/ Gram | ||||
| Weight | Loan on 18Cr gold | Loan on 20Cr gold | Loan on 22Cr gold | Loan on 24Cr Gold |
| 1 gm | 2431 | 2713 | 2996 | 3278 |
| 10 gms | 24310 | 27130 | 29960 | 32780 |
| 20 gms | 48620 | 54260 | 59920 | 65560 |
| 30 gms | 72930 | 81390 | 89880 | 98340 |
| 50 gms | 121550 | 135650 | 149800 | 163900 |
| 100 gms | 243100 | 271300 | 299600 | 327800 |
| 200 gms | 486200 | 542600 | 599200 | 655600 |
| 300 gms | 729300 | 813900 | 898800 | 983400 |
| 500 gms | 1215500 | 1356500 | 1498000 | 1639000 |
About Madhya Pradesh Gramin Bank Gold Loan
Madhya Pradesh Gramin Bank Best Gold loan is a financial product provided by the banks/financial company to its customers. In this type of loan, you can have a loan against your gold jewellery. There is nothing to worry about even if you are not employed.
The gold loan doesn’t require the customer to be salaried or self-employed. Anybody can have a gold loan if he/she has gold of given purity.
Madhya Pradesh Gramin Bank Gold Loan Eligibility
Madhya Pradesh Gramin Bank Gold Loan is a financial product provided by the bank which caters to your needs of short term or long term funds. It is easy to avail of financial services provided by banks at low rates of interest and also requires minimal documentation for the same. Madhya Pradesh Gramin 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.
Major Eligibility criteria for availing of the Madhya Pradesh Gramin Bank Gold Loan is:
| Age | 18-75 years |
| Requirements | Gold ornaments (18-22 carats) |
| CIBIL score | Above 500 |
| Nationality | Indian |
Madhya Pradesh Gramin Bank Bank Gold Loan At Home
With the changing requirements of the times, Madhya Pradesh Gramin Bank Bank has devised a simple yet effective solution that will simplify your life. Just as you can get groceries, clothes, and other necessities delivered to your door, you can now acquire a gold loan from the comfort of your own home.
Madhya Pradesh Gramin Bank Gold Loan At Home is a one-step option if you are in urgent need of finances, are too busy to visit a bank, or prefer social distancing. The procedure is simple to follow. To apply for a gold loan, you must first contact us by phone. Our executive from the nearest branch will pay you a visit as soon as possible.
Following are some of the benefits of Madhya Pradesh Gramin Bank Gold Loan At Home:
- Faster processing
- Attractive interest rates
- Maximum value of gold
- Flexible repay tenures
- Easy payment options
- No additional charges
- 24*7 customer support
- Full security of the gold
- No hidden fees
- Service at your doorstep within 30 minutes
Madhya Pradesh Gramin Bank Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Madhya Pradesh Gramin 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 Madhya Pradesh Gramin Bank Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures high security of your gold ornaments till the loan is closed.
Documents required for Applying for Madhya Pradesh Gramin Bank Gold Loan are :
| Identity Proof | Aadhar Card/Pan Card/ Passport/ Voter ID (Anyone) |
| Residence Proof | Aadhar 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 coloured |
Madhya Pradesh Bank Gold Loan Interest Rate
In general Loan on Gold, 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 loan. However, the Gold loan rate keeps on changing with the passage of time as well as person to person.
| Madhya Pradesh Bank Gold Loan Rate | 7.25% per annum |
| Processing Fee | 0.85% of the loan amount |
| Loan Amount | ₹ 1,000 to ₹ 1 crore |
| Prepayment Charges | 0-2% of the outstanding principal amount |
Madhya Pradesh Bank Gold Loan Apply Online
Applying for the Madhya Pradesh Bank Gold Loan service is a hassle-free and straightforward process that can be done from your home. Visit the bank’s official site and submit a form with necessary details regarding yourself and the Gold Loan to be availed. An individual should check the gold loan rate per gram rate before deciding. You’ll have to visit the bank with the necessary documents and your gold ornaments.
Apply via Dialabank by following the steps mentioned below to get a Gold Loan as per your requirements.
- Visit Dialabank’s Digi-platform and fill a form without doing any registration.
- Our Relationship Manager will get in touch with you and assist you throughout the Gold Loan process and guide you in fulfilling your monetary needs.
- You’ll get personalised service, giving you comparing options and choosing the best deal according to your requirements without any extra charges.
- With Dialabank, you can compare the different offers and schemes from different banks based on funding provided and the rate of interest charged for choosing the best loan deal for yourself.
Madhya Pradesh 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 |
How to Pay Your Madhya Pradesh Bank Gold Loan EMI?
Your Madhya Pradesh Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): For Madhya Pradesh Bank users.
- Electronic Clearing Service (ECS): For Non-Madhya Pradesh Bank users.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-Madhya Pradesh Bank account at your closest Madhya Pradesh Bank Loan Center.
Madhya Pradesh Bank Gold Loan Contact Number
For any sort of assistance regarding the Madhya Pradesh Bank gold loan, you can contact us on the number 9878981144.
Gold Ornaments Accepted by Madhya Pradesh Bank
Gold jewellery of 18-24 carats such as Gold Bangles, Gold rings, Gold anklets, and Gold necklaces, all which are accepted for availing a Gold Loan.
Uses of Madhya Pradesh Bank Gold Loan
The funds acquired by availing the Madhya Pradesh Bank Gold Loan service can be used for several reasons:
- To finance any personal expenses like marriages, travelling, higher education fees, etc.
- For all your business requirements, such as buying raw material, expansion of business, etc.
- You can also avail of a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.
Know More – Five mistakes to avoid while applying for a Gold Loan
Madhya Pradesh Gramin Bank Agricultural Jewel Loan Scheme
| Scheme | Agricultural Jewel Loan Scheme |
| Interest Rate | Starting from 7.25% per annum (depends on the sum of the loan |
| Least amount of Loan | Depends on the value of the jewel which is being kept as security |
| Loan period | Adjustment of advance sum inside 2 months from the date of reap of yields |
Benefits of Madhya Pradesh Gramin Bank Agricultural Jewel Loan Scheme
- There is no getting sorted out expense is legitimate up to ₹ 25,000
- 0.30% of the credit complete, Minimum of ₹ 300 charge is material to the absolute going from above ₹ 25,000 – not for the most part ₹ 5 lakh
- 0.28% of the credit absolute, subject to at any rate Rs.1,500 is real to the total more than Rs.5 lakh regardless under Rs.1 crore
Madhya Pradesh Bank Gold Loan Overdraft Scheme
Madhya Pradesh Bank offers an Overdraft Scheme. With this, you are given an improvement supreme as an overdraft office. It works like a Credit Card, where you can spend your Gold Loan Amount as you need at point any spot. The general movement all out will have a Credit/Loan Limit. In the Madhya Pradesh Bank Gold Loan Overdraft office, the bank charges pay fundamentally on the absolute you pull out/use.
FAQs About Madhya Pradesh Bank Gold Loan
✅ What is Madhya Pradesh Bank Gold Loan?
Madhya Pradesh Bank provides Gold Loan to people aged 18-70 years at attractive interest rates depending on the amount to be sanctioned and the quality of your gold. Madhya Pradesh Bank gives gold loans starting from Rs 1000 to a maximum of Rs 1 crore with a tenure commencing between 6 to 60 months.
✅ How can I get the Gold Loan from Madhya Pradesh Bank?
You can get a gold loan from Madhya Pradesh Bank by either personally visiting any of the branches near you, or you can apply online with Dialabank by merely filling a form online. Once your documentation is verified, the loan amount will be disbursed in the account.
✅ What is Gold Loan Interest Rate in Madhya Pradesh Bank?
The lowest gold loan interest rate in Madhya Pradesh Bank starts at 7.25% per annum.
✅ How to check Gold Loan status in Madhya Pradesh Bank?
To check your gold loan status in Madhya Pradesh Bank, just follow the steps given below:
- Visit the Madhya Pradesh Bank web page.
- Fill in your details and unique credentials to log in.
- Track the status of your loan application.
✅ How to calculate Gold Loan Interest in Madhya Pradesh Bank?
You can calculate the gold loan interest on your Madhya Pradesh Bank Loan by merely subtracting the borrowed amount from the payable loan amount.
✅ What is the maximum loan amount I can avail of on Gold Loan from Madhya Pradesh Bank?
You can avail a Gold Loan of up to Rs 1 crore from Madhya Pradesh Bank provided you fulfil the eligibility requirements.
✅ How much Processing Fee is applicable on Madhya Pradesh Bank Gold Loan?
The processing fee applicable to Madhya Pradesh Bank Gold Loan is 0.85% of the loan amount.
✅ What are the charges for Prepayment in Madhya Pradesh Bank Gold Loan?
The prepayment charges in the Madhya Pradesh Bank Gold loan is 0-2% of the outstanding loan amount.
✅ How to renew Madhya Pradesh Bank Gold Loan Online?
To renew the Madhya Pradesh Bank loan against gold online, you will have to apply for the same on Madhya Pradesh Banks’ portal.
✅ What if I can’t pay the interest on Madhya Pradesh Bank Gold Loan for three months?
If you cannot pay your Madhya Pradesh Bank gold loan amount for three months, the bank will warn you to repay the loan amount on time. If in case you continuously make loan defaults, the bank will have all rights to sell your gold ornaments pledged.
✅What is an overdraft scheme for Madhya Pradesh Bank Gold Loan?
Madhya Pradesh Bank offers an Overdraft Scheme. With this, you are given an improvement supreme as an overdraft office. It works like a Credit Card, where you can spend your Gold Loan Amount as you need at the point any spot.
✅What is the customer care number for Madhya Pradesh Bank Gold Loan?
Call at 9878981144 for any query.
✅What is the foreclosure procedure for Madhya Pradesh Bank Gold Loan?
Madhya Pradesh Gramin Bank Gold Loan enables a borrower to .50% on the key astonishing if there should be an occasion of a Gold Loan Foreclosure.
✅What is the Madhya Pradesh Bank Gold Loan maximum loan tenure?
The maximum loan tenure is up to 36 months.
✅What is the Madhya Pradesh Gramin Bank Gold Loan closure procedure?
The Gold loan will close after the loan payment is done in full.
✅ What are Madhya Pradesh Gramin Bank Gold Loan Preclosure charges?
The Preclosure charges are 2%+GST (Within 3 Months), 0 (After 3 months)
✅ What is the minimum gold loan tenure?
The minimum gold loan tenure is 6 months.
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