Meghalaya Rural Bank Gold Loan

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Rates as low as 1% p.m.
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Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

About Meghalaya Rural Bank Gold Loan

Meghalaya Rural Bank was set up on 27th January 1982 under Section 3 (1) of RRB Act 1976. The Rural Bank is well aware of the crucial role it has in strengthening the rural economy of Meghalaya. Provide quality banking services. Promote growth in the community and be a part of growth opportunities. Bank offers a complete range of products at very competitive rates. Therefore, to avail financial services like Gold Loan in your village, apply online. To get a Gold Loan to overcome money crisis.

About Gold Loan

Gold Loan is a type of financial service, in which the applicant has to put the gold ornament in the bank in return of loan amount. In this, the gold is considered as collateral by the bank. That further means, the applicant has to repay the amount of loan within the period of the loan. If one fails to do so, the ornaments are confiscated by the banks. Furthermore, this is one of the popular services as Gold Loan Interest Rates are quite less in comparison to other services.

Meghalaya Rural Bank Gold Loan Interest Rate

In general Loan on Gold, the 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 personal loan or any other kind of loans. Though the Gold loan rate keeps on changing with the passage of time as well as person to person. Meghalaya Rural Bank Gold Loan is available at 1% per month interest rate.

  • Meghalaya Rural Bank Gold Loan Interest rate – 10.70 %
  • Offer low processing fee –  0.85%
  • Pre-closer charges range from 0 – 2 %.
  • Tenure minimum six months; maximum five year
  • Amount – Thousand to a crore

Meghalaya Rural Bank Gold Loan Features

  1. The bank is very dedicated to its customers.
  2. High Loan amount from a minimum in thousands to a crore.
  3. Quick processing.
  4. Bad credit history/ CIBIL score, not an issue.
  5. Instant Processing and Disbursal happens in Meghalaya Rural Bank Gold Loan.
  6. The lowest interest rate.
  7. Minimum documentation required for Meghalaya Rural Bank Gold Loan.
  8. Flexible repayment options

Meghalaya Rural Bank Gold Loan Advantages

  • Less Documentation Process – Firstly, Documentation requirements for availing a Gold Loan from Meghalaya Rural Bank Gold Loan are quite less. The applicants are not asked to provide lengthy proofs to avail the financial service.
  • Easy to get – Another feature is, Availability of Langpi Dehangi Rural Bank Gold Loan service is excellent. That is, people can easily avail a gold loan at nearby branches. It is not tough to find a nearby branch.
  • CIBIL Score – In addition to this, Credit Score does not matter in this service, that is, the applicant does not have to worry about low credit repayment history. If anybody has a bad repayment history, they can improve the same by taking a Gold Loan.
  • Processing Fees – Furthermore, Meghalaya Rural Bank Gold Loan does not charge any processing cost for a loan application. Most of the banks charge a fee, but in the case of this company, there are no charges of availing a Gold Loan.
  • Tenure – Also, Meghalaya Rural Bank Gold Loan provides a flexible period of the loan. It starts at one year and can go up to 1 year.
  • Safety – Moreover, the protection of ornaments is the responsibility of the bank. That is, the applicant does not have to worry about the ornaments they have deposited.
  • Simple Process – Last but not least, the system of this service is very transparent. That is, Meghalaya Rural Bank Gold Loan does not hide anything from the customers.

Meghalaya Rural Bank Gold Loan Documentation

  • Firstly, an Identity Proof is required. It can be an Aadhar Card / Voter ID card / PAN Card / Driving License / Passport.
  • Secondly, One proof of residence is also required while applying for a gold loan; it can also be an Aadhar Card / Voter ID card / PAN Card / Driving License / Passport / Ration Card / Electricity or Water bills of last three months with the name of the applicant.
  • Two colored photographs.

Meghalaya Rural Bank Gold Loan Process

Meghalaya Rural Bank Gold Loan

  1. The bank checks the purity of the gold.
  2. The bank verifies the market rate for gold and the price of the previous day is take into consideration
  3. The LTV (Loan to Value) set by the RBI is 75%.
  4. If you have acknowledged the Gold loan amount and terms, the lender processes the application. The processing fees & other charges deducted from your Gold loan amount.
  5. After signing the agreement, the loan amount is disbursed to your account.

FAQs About Meghalaya Rural Bank

Q. How much Gold Loan can I get per gram in Meghalaya Rural Bank?

The rate of Gold Loan per gram offered by the bank depends on the quality of your gold and the market rate of that gold. Banks usually provide 75% funding of the total market value of your gold.

Q. What is Meghalaya Rural Bank Gold Loan?

Gold Loan is a financial service offered by banks for fulfilling the needs of the individuals whether personal or professional. These loans are provided at competitive interest with flexible tenure and can also be used for agricultural purposes. The banks provide easy repayment options with an overdraft facility as well.

Q. What is the Gold Loan interest rate in Meghalaya Rural Bank?

The rate of interest charged on these loans usually start from 10.70% per annum and usually depend on the total amount that is to be borrowed by the individual.

Q. How to pay Meghalaya Rural Bank Gold Loan online?

Banks usually provide convenient methods to pay your Gold Loan online using a Standing Instruction on the account for automated deduction etc. You need to visit the branch for more information.

Q. How to apply Gold Loan in Meghalaya Rural Bank?

The application process of Gold Loan is fairly simple and requires minimal documentation and takes no time. You can do it by visiting the branch and filling a form or apply online through Dialabank’s digital platform for availing the best offers and deals.

Q. How to renew Meghalaya Rural Bank Gold Loan online?

Renewal process I started once you reach the branch with all the loan related documents and get the gold previously kept as security released. For more information contact the loan officer in the branch.

Q. How to take Gold Loan from Meghalaya Rural Bank?

Taking Gold Loan is a simple and hassle-free process and can be done by applying for it either online or offline. You need minimal documents with no requirement of a guarantor or an income proof. You just need to be above 18 years of age in possession of gold. The banks give quick disbursal of funds once the application is approved.

Q. What is Gold Loan in Meghalaya Rural Bank?

Gold Loan service is offered by banks for fulfilling the short term need of funds of individuals for any expense other than speculative reasons. The loans are offered against Gold of at least 18K at competitive interest rates depending on the total amount of the loan. The bank gives convenient repayment options with renewal facility as well.

Q. How to get Meghalaya Rural Bank Gold Loan?

Getting Gold Loan from the banks is a quick and easy process, you just need to be eligible for the Loan which depends on the bank’s policies. The banks give disbursement of funds on the same day of approval of the application. The whole process takes about 90 minutes.

Q. How to check Meghalaya Rural Bank Gold Loan status?

Checking the status of your loan can be done by the Net banking service or visiting the nearest branch and contacting the representative of the bank.

Q. How to close Meghalaya Rural Bank Gold Loan?

Closure of Gold Loan is done once the bank has realized the total amount due and has released the gold ornaments and issued the No Dues Certificate. The bank offers convenient methods for the same.

Q. How to renew Meghalaya Rural Bank Gold Loan?

The renewal process is completed once the Gold has been released and revalued again at the latest market prices and the new terms formed are agreed upon. For more information, contact the nearest branch of the bank.

Q. What happens if someone defaults Meghalaya Rural Bank Gold Loan?

If someone defaults with the repayment of the Gold Loan, the bank charges a penalty and also reduces the credit score. The bank also has the legal right to auction your golf to recover the amount in case the defaults are continued.

Q. How many branches of Meghalaya Rural Bank Gold Loan?

The Bank has its headquarter in Shillong and has 87 branches in the state.

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