Madhyanchal Gramin Bank Gold Loan Documents Required

Features of Madhyanchal Gramin Bank Gold Loan

Some Key features of Madhyanchal Gramin Bank Gold loan are:

1. Madhyanchal Gramin Bank Gold Loan Documents Required are basic KYC documents – identity and address proof. Banks don’t ask for income proof in case of a gold loan.
2. When you need Funds for getting finance the best way to get finance is through a gold loan from banks. Banks keep your gold safe and can be a high loan to value ratio up to 75 to 80% of the value of the gold.
3. Gold loans come under the secured type of loan. In case of emergency, you can get funds through gold loan banks give quick service for gold loan. Processing of gold loans can be done in an hour.
4. This loan comes with various options for repayment. An individual can choose repayment type according to his convenience.
5. Banks don’t ask for credit scores for gold loans.
6. A gold loan can be availed by anyone in the age group 18 to 65.

Madhyanchal Gramin Bank Gold Loan Comparision with banks

Madhyanchal Gramin Bank Gold Loan EMI calculator

EMI calculator is a simple tool that gives borrowers to calculate the approximate amount of EMI to be paid by borrowers. This calculator mainly takes loan amount, interest rate, and repayment tenure as input and gives monthly repayment amount to be paid by you.

What to check how much EMI you have to pay if you take Madhyanchal Gramin Bank Gold loan? We at Dialabank Have made a simple Gold loan EMI calculator which will help you in calculating your finance after availing of a Gold loan.

Madhyanchal Gramin Bank Gold Loan Documents Required

Madhyanchal 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

Madhyanchal Gramin Bank Gold Loan Documents Required – FAQs

✅ What is the maximum amount for a loan?

The maximum amount for a loan varies from one bank to another. The maximum amount for a loan can be up to 1 crore depending on the eligibility criteria of the bank.

✅ Do we have to give any foreclosure charges for a loan? 

Loan foreclosure charges are applicable on the outstanding amount of your gold loan ranging from 0% to 3%.

✅ How can I repay the loan?

The loan can be paid through online and offline modes. You can make the payment through cheque, Demand draft, or net banking.