Madhyanchal Gramin Bank Gold Loan Key Features
|Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Interest Rate||Starting 10.70%|
|Gold Required||Minimum 18 Cr|
|Processing Fee||1% or ₹1000 whichever is higher|
|Repayment Tenure||Up to 36 months|
|Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
You just need to give a call on 9878981144 to avail of the best deals and offers on Madhyanchal Gramin Bank Gold Loan.
Advantages of Madhyanchal Gramin Bank Gold Loan
- Instant Gold Loan: To begin with, loan on gold the bank sanctions Gold Loan quickly. The sum of the loan ranges from Rs. Ten thousand to Rs. 15 Lacs. The amount of quantity can be availed over the counter rapidly.
- Gold Coins: Secondly, Madhyanchal Gramin Bank Gold Loan can also be avail against the security of 24-Karat gold coins which holds complete purity issues by banks operating in India. However, the weight of gold cannot exceed more than fifty grams per customer. The rules are laid down by RBI and are subject to change.
- Loan Tenure: Also, When it comes to availing Madhyanchal Gramin Bank Gold Loan, then it holds the minimum duration of a half year to a most of extreme of a year.
- Attractive interest rates: the Fascinating rate of interest: On per gram of gold, the borrower can get the fascinating interest rate. Take a glimpse at the gold’s recent running interest rate.
How much Loan can I get through Madhyanchal Gramin Bank Gold Loan
About Madhyanchal Gramin Bank Gold Loan
Madhyanchal Gramin Bank (MGBs) is known as a regional rural bank in India. It set up by merging three rural banks in the state of Madhya Pradesh in central India namely Madhya Bharat Bank, Sharda Grameen Bank, Rewa Sidhi Grameen Bank, sponsored by State Bank Of India, Allahabad Bank and Union Bank of India. Its headquarters is in Saugor. Current sponsor of the bank is State Bank of India. Madhyanchal Gramin Bank has a presence over 12 districts in Madhya Pradesh Damoh, Saugor, Shivpuri, Guna, Ashoknagar, Tikamgarh, Chhatarpur, Panna, Satna, Rewa, Sidhi and Singrauli.
Madhyanchal Gramin Bank Gold Loan Eligibility
Madhyanchal 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 financial service provided by banks at low rates of interest and also requires minimal documentation for the same. Madhyanchal 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 the Madhyanchal Gramin Bank Gold Loan is:
|Age||18-70 years of age|
|Employment Status||Salaried, Self-Employed|
|Gold Quality||Minimum 18 Carats (10 Grams)|
A good Credit or CIBIL score is not required to apply for the Gold Loan as it is a fully secured financial service against your gold as collateral security.
APPLY FOR GOLD LOAN AT 1% P.M.
Madhyanchal Gramin Bank Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Madhyanchal 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 Madhyanchal 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 Madhyanchal Gramin Bank Gold Loan are :
A duly filled and signed Gold Loan application form shall be submitted along with the following documents:
|Photographs||2 Passport Size|
|Identity Proof||Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)|
|Residence Proof||Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)|
|Agricultural Land Proof||Required only if the Loan is taken for Agricultural Purpose|
*Any other documents as requested by the bank shall be duly submitted.*
Madhyanchal Gramin Bank Gold Loan Interest Rate, Fees and Charges
A Madhyanchal Gramin Bank Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged with depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates offered by the Madhyanchal Gramin Bank are lower in comparison to other loans because it is a fully secured loan.
The Gold Loan interest rates in the Madhyanchal Gramin Bank starts at 10.70% per annum.
The bank also charges some additional fees along with the rate of interest in some cases, which are :
|Processing Fee||1% of the Principal Loan Amount|
Madhyanchal Gramin Bank Gold Loan Apply Online
Applying for the Madhyanchal Gramin Bank Gold Loan service is a simple and hassle-free process which can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with necessary information regarding yourself and the Gold Loan you wish to avail. You will then need to visit the branch with the required documents and your gold.
You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.
- Visit Dialabank’s digital platform, where you will have just to fill a form without any registration.
- Our Relationship Manager will contact you and assist you throughout the Gold Loan process and guide you in fulfilling your financial needs.
- You will get personalised service, giving you the option of comparing and taking the best deal according to your needs without any extra charges.
- With Dialabank, you can compare the different offers and schemes from various banks based on funding provided and the rate of interest charged for choosing the best loan deal for yourself.
Madhyanchal Gramin Bank Gold Loan EMI Calculator
How to Pay Your Madhyanchal Gramin Bank Gold Loan EMI?
Your Madhyanchal Gramin Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with Madhyanchal Gramin Bank, Standing Instruction is the best method of repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the Madhyanchal Gramin Bank account you indicate.
- Electronic Clearing Service (ECS): This mode can be utilised if you have a non-Madhyanchal Gramin Bank account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-Madhyanchal Gramin Bank account at your closest Madhyanchal Gramin Bank Loan Branch. A new arrangement of PDCs should be submitted on time. It will be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.
Madhyanchal Gramin Bank Gold Loan Contact Number
You can use this amount of Gold Loan to fulfil your personal needs. An individual need can be anything, whether related to a wedding or education. Madhyanchal Gramin Bank Gold Loan can be linked to your business or agricultural activities. Bank doesn’t put any restriction on the use of the loan amount.
You just need to give a call on 9878981144 to avail the best deals and offers on Madhyanchal Gramin Bank Gold Loan.
Gold Ornaments Accepted by Madhyanchal Gramin Bank
- Bank accepts only gold of 18 carats to 22 carats.
- The bank accepts gold jewellery and gold coins weigh less than 50 grams.
- That minted coins are not accepted.
- The applicant should have a minimum of 10 grams of gold to get a gold loan.
Use of Madhyanchal Gramin Bank Gold Loan
The funds acquired by availing the Madhyanchal Gramin Bank Gold Loan service can be used for several purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, etc.
- For all your business needs, such as buying raw material, expansion of business, etc.
- You can also avail a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.
FAQs About Madhyanchal Gramin Bank Gold Loan
✅ What is Madhyanchal Gramin Bank Gold Loan?
Gold Loans are a secured loaning scheme that can be used for urgent monetary needs. Interest Rates in Madhyanchal Gramin Bank starts from 10.25% per annum for a minimum tenure of 6 months and a maximum of 12 months. The loan can be used for productive as well as non-productive purposes.
✅ How Can I Get Gold Loan From Madhyanchal Gramin Bank?
You can get a Madhyanchal Gramin Bank Gold Loan by going into the nearest branch with your gold and documents or through the online channel of Dialabank in few easy steps. You may also call on the number 9878981144 in case of any queries.
✅ How much Gold Loan Can I get per gram from Madhyanchal Gramin Bank?
Madhyanchal Gramin Bank’s Gold Loan comes with attractive features and benefits. The per gram rate for Gold Loan depends on the purity and market price of your gold. Currently, you can get around Rs. 2,472 to Rs. 3,023.
✅ How Does Madhyanchal Gramin bank Gold Loan work?
Gold Loans are your answer for urgent financial needs. You can take a Gold Loan from Madhyanchal Gramin Bank by walking into your branch with your gold and documents. Once verified and valued, the loan amount will be transferred to your bank account. Your gold will be kept as collateral
✅ What is the Gold Loan interest rate in Madhyanchal Gramin Bank?
Gold Loans from Madhyanchal Gramin Bank starts from 10.25% per annum for a tenure of 6 to 12 months. The rates may vary depending on your credit history and your income.
✅ How to check gold loan status in Madhyanchal Gramin Bank?
You can check the status of your Gold Loan by contacting your Madhyanchal Gramin Bank branch either in person or through customer care number. You will have to provide the bank with your application details.
✅ How to calculate gold loan interest in Madhyanchal Gramin Bank?
Just subtract the principal loan amount from the final repayment amount and you will get the interest.
✅ How much processing fee is applicable to the Madhyanchal Gramin bank Gold loan?
The Madhyanchal Gramin Bank bank charges a processing fee for its gold loan which is about 1% of the outstanding loan amount or Rs. 1000, whichever is higher.
✅ What are the charges for pre-payment in the Madhyanchal Gramin bank gold loan?
The prepayment charges range from 0 to 1% of the loan amount. Prepayment helps you reduce the burden of your EMIs and thus avoid you from having any bad debts.
✅ How can I apply for the EMI moratorium on the Madhyanchal Gramin Bank Gold loan?
The moratorium means a period wherein you don’t have to repay your loan. This can be applied for in person or through the online portal of the bank. You can only do so until 5 days before the due date of your EMI payment.