About Mizoram Rural Bank Gold Loan
Mizoram Rural Bank is a rural bank in the state of Mizoram sponsored by State Bank of India. The bank was established in 1983. Furthermore, this is the only bank that has its presence in all districts of Mizoram.
The bank has its headquarters in Aizawl with 84 branches spread in the Indian state of Mizoram. A lot of financial services are provided by this bank such as Gold Loan, Personal Loan, and many more.
Mizoram Rural Bank Gold Loan Eligibility
Being eligible for a gold loan is easier in comparison to other loans:
- To begin with, the age of the applicant should lie between 18 years to 70 years.
- Secondly, the applicant should be a citizen of India.
- The quality of gold should be from 18 Carat to 22 Carat in order to get a loan.
- Another equally important criteria are the weight of gold which should be more than 10 grams.
- Anyone can apply for Mizoram Rural Bank Gold Loan whether you are a salaried applicant or self-employed.
Documents required for Mizoram Rural Bank Gold Loan
- Proof of Adress of Applicant: The applicant has to particularly choose from: Aadhar Card /Pan Card/Valid Driving License/ Ration Card/ Utility Bills on the name of applicant/ Rental Agreement of applicant/ Voter ID card.
- Proof of Identity: The document for proof of identity should be specifically from one of the following: Aadhar Card/ Pan Card/ Driving License/ Voter ID Card
- Signature Proof: The documents considered for proof of signature are namely, Bank’s Verification document/ Valid Passport.
Mizoram Rural Bank Gold Loan Interest Rate
- The Gold Loan Interest Rate of this service starts at 10.5%-12% p.a.
- The financial organizations provide these loans for 1 to 4 years.
- The pre-closure charges are in between 0% to 2% of the value of Mizoram Rural Bank Gold Loan.
Mizoram Rural Bank Gold Loan Features
- Great Availability: First and foremost, Loan against gold is a secured service, therefore the processing of this loan is quick as the bank is mostly concerned with the quality and weight of the gold.
- Low Rate of Interest: In contrast to services like personal loans, the gold loan has the least interest rate as banks keep security against the loan.
- Negligible foreclosure charges: Generally, banks do not have any prepayment charges but some banks can charge a penalty of just 1%.
- Safety of Ornaments: The ornaments are more secure with the banks due to the strict security In the banking institutions which is quite less at homes.
- No qualification of Credit Score: As this is a secured loan, therefore, the applicant does not have to worry about bad loan repayment history.
- Income-proof not required: The salary of an applicant is not an issue for availing a gold loan as it depends majorly on the weight and quality of gold available with the applicant.
- No loan processing charges: Another advantage is that the applicant does not have to pay extra for this service as the approval solely depends upon the asset kept as security.
How to apply for Mizoram Rural Bank Gold Loan?
- To start with, a lot of products are available in the market thus all the people who aspire to avail a loan are generally confused about the best loan offer for themselves.
- In order to clear this confusion, our company assists the customer and guides them The Best Loan Deal according to the needs.
- Moreover, the customer is guided throughout the process of the loan without any extra charges of the service.
- Easily Apply for a Gold Loan through www.dialabank.com or Call on 95920-46860.
FAQs About Mizoram Rural Bank Loan
How much Gold Loan can I get per gram in Mizoram Rural Bank?
Gold Loan rate per gram of gold depends on the quality of the gold and the prevailing price of gold in the market. Banks usually provide about 75% funding of the total market value of your gold.
What is Mizoram Rural Bank Gold Loan?
Gold Loan by banks is a financial product for fulfilling the requirements of the individuals whether personal or business. The loans are provided at an attractive interest rate with tenure of the choosing of the individual and can also be used for agricultural purposes. The banks provide convenient methods for the repayment of the loan.
What is the Gold Loan interest rate in Mizoram Rural Bank?
The rate of interest charged on Gold Loan depends on the amount that is to be borrowed and the quality of the gold to be kept as security by the borrower.
How to pay Mizoram Rural Bank Gold Loan online?
Banks usually provide easy payment options for paying your Gold Loan online using a Standing Instruction on the account for the automated deduction of the EMI amount from your account or You can visit the branch for more information.
How to apply Gold Loan in Mizoram Rural Bank?
The application process of Gold Loan is a simple hassle-free process. You can do it offline or online. you just need to fill a form with basic information and submit it with the required documents. You can apply through Dialabank’s digital platform for availing personalized assistance to get the best deal on your Gold Loan.
How to renew Mizoram Rural Bank Gold Loan online?
The renewal process is started once you reach the branch with all the loan related documents and get the gold previously kept as security released and revalued t latest market prices. For more information call on the customer care number of the bank.
How to take Gold Loan from Mizoram Rural Bank?
Taking the Gold Loan is a quick process. 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. Apply through Dialabank.com to avail of the best offers.
What is Gold Loan in Mizoram Rural Bank?
Gold Loan service is offered by banks for meeting the need of funds of individuals. The loans are offered against Gold of at least 18K at attractive interest rates depending on the amount of the loan to be borrowed. The amount of disbursed can be used for any expense. The bank also gives an overdraft facility on the loan.
How to get Mizoram Rural Bank Gold Loan?
Getting Gold Loan from the bank is a hassle-free process. You just need to be eligible for the Loan. The banks give disbursement of funds on the same day as the approval of the application. The whole process takes about 90 minutes from applying for the loan to the disbursement of the funds.
How to check Mizoram Rural Bank Gold Loan status?
Checking the status of your loan can be done by visiting the nearest branch and contacting the representative of the bank or calling on the toll-free helpline number of the bank.
How to close Mizoram Rural Bank Gold Loan?
The closure takes place once the payment for the amount has been done by the borrower and the bank has released the gold ornaments. Payment can be made by using various methods that are offered by the bank.
How to renew Mizoram Rural Bank Gold Loan?
The renewal process requires you to visit the branch with all your loan-related documents and getting the gold revalued at the latest market prices. New terms are formed and the loan is renewed for another tenure once the terms are agreed upon.
What happens if someone defaults Mizoram Rural Bank Gold Loan?
If someone is not able to pay the dues on or before the due date, the bank charges a penalty fee from the borrower and can also auction the gold to recover the amount.
How many branches of Mizoram Rural Bank Gold Loan?
Mizoram Rural Bank has 85 branches. The Bank is headquartered in Aizawl, Mizoram.
Table of Contents
- 1 About Mizoram Rural Bank Gold Loan
- 2 Mizoram Rural Bank Gold Loan Eligibility
- 3 Documents required for Mizoram Rural Bank Gold Loan
- 4 Mizoram Rural Bank Gold Loan Features
- 5 How to apply for Mizoram Rural Bank Gold Loan?
- 6 FAQs About Mizoram Rural Bank Loan
- 6.1 How much Gold Loan can I get per gram in Mizoram Rural Bank?
- 6.2 What is Mizoram Rural Bank Gold Loan?
- 6.3 What is the Gold Loan interest rate in Mizoram Rural Bank?
- 6.4 How to pay Mizoram Rural Bank Gold Loan online?
- 6.5 How to apply Gold Loan in Mizoram Rural Bank?
- 6.6 How to renew Mizoram Rural Bank Gold Loan online?
- 6.7 How to take Gold Loan from Mizoram Rural Bank?
- 6.8 What is Gold Loan in Mizoram Rural Bank?
- 6.9 How to get Mizoram Rural Bank Gold Loan?
- 6.10 How to check Mizoram Rural Bank Gold Loan status?
- 6.11 How to close Mizoram Rural Bank Gold Loan?
- 6.12 How to renew Mizoram Rural Bank Gold Loan?
- 6.13 What happens if someone defaults Mizoram Rural Bank Gold Loan?
- 6.14 How many branches of Mizoram Rural Bank Gold Loan?