Nainital Bank Gold Loan Key Features – Apply Now
|Collateral reqired||Gold ornaments|
|Interest Rate||7.0% per annum|
|Nainital Bank Gold Loan Rate per Gram||Rs.5,044|
|Age of Borrower||18 – 70 years|
|Maximum Loan Amount||Up to Rs. 1 crores|
|Maximum Loan to Gold Value Ratio||Up to 70%|
|purity of Eligible gold||18 carat to 22-carat gold|
|Maximum Loan Tenure||Up to 12 months|
About Nainital Bank Gold Loan
The Nainital Bank Limited is known as a scheduled commercial bank, headquartered in Nainital, Uttarakhand, India. The bank was set up in 1922 by Gobind Bhalla Pant. The bank has 139 branches in Delhi, Haryana, and Rajasthan. Nainital Bank Gold loan is the quickest way to get funds for personal or business requirements. The funds from the loan can be used for weddings, education, business expansion, or any other similar purpose. With minimal documentation and secure storage, the Nainital Bank Gold Loan is a simple funding option to meet your needs.
- Nainital Bank Gold Loan Interest Rate is 7.0% per annum.
- Nainital Bank Gold Loan Rate Per Gram is Rs.5121.
- Nainital Bank Gold Loan Tenure is up to 12 months.
- Nainital Bank Gold Loan processing fee is 1% + GST or ₹1000 whichever is higher.
Nainital Bank Gold Loan Interest Rate
Nainital Bank Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged 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 rate is offered by the Nainital Bank are lower in comparison to other loans because it is a fully secured loan.
|Nainital Bank Gold Loan Interest Rate||7.0% per annum|
|Repayment Scheme||Bullet Repayment Scheme, Overdraft Scheme|
|Minimum Gold||10 grams|
|Processing Fee||1% + GST or ₹1000 whichever is higher|
*The bank also charges documentation and gold valuation fee.
Why Should You Choose Nainital Bank Gold Loan?
There are so many banks and non-financial organizations that provide a Gold Loan. Then why should you choose Nainital Bank for a Gold Loan? Here are some reasons:
- The bank is very dedicated to its customers.
- High Loan amount from a minimum in thousands to a crore.
- The bank offers Quick processing of Gold Loan.
- A bad credit history/ CIBIL score is not an issue.
- Instant Disbursal is given of Gold Loan by Nainital Bank.
- The lowest interest rate is provided in Nainital Bank Gold Loan.
- Minimum documentation is required for Nainital Bank Gold Loan.
- Flexible repayment options.
Advantages of Nainital 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, Nainital 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 Nainital 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.
- Foreclosure: The bank charges a borrower up to .50% on the principal outstanding in case of a Gold Loan Foreclosure.
Nainital Bank Gold Loan Eligibility
Gold Loan is a financial product provided by the Nainital 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. Nainital 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 Nainital Bank Gold Loan is:
|Age||18-70 years of age|
|Employment Status||Salaried, Self-Employed|
|Gold Quality||Minimum 18 Carats|
|Requirements||Gold ornaments (18-22 carats)|
|CIBIL score||Above 500|
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.
Nainital Bank Gold Loan Documents Required
Nainital Bank offers this loan product called Gold Loan for the borrowers for satisfying their financial requirements and move with pace along with the society. The applicant is asked to keep their Gold articles as collateral with the bank in exchange for the loan funds till the end of the Loan Tenure. Nainital Bank Gold Loan process is real quick, reliable, and very minimal use of paperwork is made.
Documents required for Applying for Nainital Bank Gold Loan are :
A duly filled and signed Gold Loan application form shall be submitted along with the following documents:
|Photographs||2 Passport-Sized photos, clear, without spectacles|
|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.**
Nainital Bank Gold Loan Process
- The bank checks the purity of the gold to be pledged.
- The bank verifies the market rate of gold and the price of the previous day is taken into consideration.
- The LTV (Loan to Value) set by the RBI is 75%.
- If you have acknowledged the Gold loan amount and terms, the lender processes the application. The processing fees & other charges are deducted from the total amount of your Gold Loan.
- After signing the agreement, the loan amount is disbursed to your account.
Nainital Bank Gold Loan Rate per Gram
The purity of your Gold articles provided to the bank is the key used to decide the amount of loan that can be provided to the applicant. Nainital Bank Gold Loan Rate keeps on swinging as per the Gold Rates in the market each day. 30% is kept as the marginal security and a loan is provided up to 70% worth of your gold.
The amount that you will get for a gram of Gold varies depending on its purity and the market price for your Nainital Bank Gold Loan.
**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**
How Much Can I Get Through Nainital Bank Gold Loan
Nainital Bank Gold Loan Per Gram – Update January 2021
Updated - Gold Loan Per Gram Rate w.e.f Apr 22 2021
|Gold Weight||Gold Purity
Nainital Bank Gold Loan EMI Calculator
|Rate of Interest||6 months||1 Yr||2 Yrs||3 Yrs|
Gold Loan Apply Online
The Dialabank website makes the process a lot easier for you. All you have to do is click on the gold loan option on the homepage and fill-up the form. Our team will shortlist some offers and mail them to you. Our relationship manager will give you a call and help you compare the offers.
You can also call on the number 9878981144.
Why Dialabank for online Nainital Bank Gold Loan?
- Dialabank provides you with personalized service. We are available for you every step of the way.
- We shortlist the best offers for you and help you choose the one that fits you well.
- We are here to clear up any of your queries.
- The process through Dialabank is much easier.
Use of Nainital Bank Gold Loan
The gold loan from Nainital Bank help you in many areas of life. If you need money urgently, a gold loan is the one to go. You can use it to fund your education, a wedding in your house, expand your business, or for agriculture purposes. All you have to do is give a minimum of 10 grams of gold as collateral to the bank.
Nainital Bank Agricultural Jewel Loan Scheme
|Scheme||Nainital Bank Agricultural Jewel Loan Scheme|
|Interest Rate||Starting from 7% (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 Nainital Bank Agricultural Jewel Loan Scheme
- Nainital Bank charges a processing fee of up to ₹ 500
- Minimum of ₹ 300 charge, that is 0.30% of the loan amount, applies to the amount ranging from above ₹ 20,000 – less than ₹ 20 lakh
- 0.28% of the credit sum, subject to at least Rs.1,500 applies to the amount more than Rs.5 lakh however under Rs.1 crore.
Nainital Bank Gold Loan Overdraft Scheme
Nainital Bank offers an Overdraft Scheme. With this, the loan amount is provided as an overdraft facility. It functions as a Credit Card, where you can spend your Gold Loan Amount as per your wishes, anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Nainital Bank Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
FAQs About Nainital Bank Gold Loan
✅ What is Nainital Bank Gold Loan?
Nainital Bank Gold Loans are used to fulfill any short-term emergency requirement of funds, whether personal or business. These loans are given at a low rate of interest with easy repayment options against your Gold kept as security.
✅ How Can I Get Gold Loan?
✅How much Gold Loan Can I get per gram from Nainital Bank?
Gold Loan by Nainital Bank rate per gram depends upon the quality of the gold jewellery and its worth in the market. You can get up to 70% funding of the total market value of your gold. A loan amount of a maximum of 1 crore can be applied for. Nainital Bank Gold Loan Rate Per Gram is Rs.5,121.
✅ How Does Nainital Bank Gold Loan work?
gold loan by Nainital bank works in a simple manner. If you are above the age of 18 years and are a permanent resident of India with possession of Gold ornaments, you can apply for the loan by submitting a form at the nearest bank branch. The loan officer will check your documents and get the gold valuated. After the loan is approved, you get the amount in your bank account.
✅ What is the Gold Loan interest rate in Nainital Bank?
Gold Loan provided by Nainital Bank has an Interest rate of 7.0% per annum. Nainital Bank also charges you with a processing fee on your loan, as well as gold valuation and service charges.
✅ How to check gold loan status in Nainital Bank?
You can check the status of your Nainital Bank gold loan through email or by visiting the branch and meeting your loan officer in person. You can also keep yourself updated and track your loan application on the bank’s website.
✅ How to calculate gold loan interest in the Nainital Bank?
Interest is the difference between the loan principal which the lender gives you and the amount which you repay.
✅What is the maximum gold loan amount I can avail of on a gold loan from Nainital Bank?
With income proof and a stable income, it is easy for an applicant to avail of a Nainital Bank gold loan amounts up to 1 crore. However, this depends a lot on the quality of gold you give s collateral and its price in the market.
✅ What is the loan tenure of the Nainital Bank gold loan?
The loan tenure in Nainital bank gold loan extends up to 1 year as a gold loan is a quick loan. You can also opt for renewal by paying a small fee.
✅How much processing fee is applicable to the Nainital Bank Gold loan?
The processing fee for Nainital Bank gold loan is the standard 1% of the loan amount plus the applicable taxes or Rs. 1000 whichever is higher.
✅ What are the charges for pre-payment in the Nainital Bank gold loan?
For prepaying your Nainital Bank gold loan, you don’t have to pay any fee.
✅How to renew Nainital Bank Gold Loan online?
For the renewal process of your Gold Loan given by Nainital Bank, you need to visit the branch with your loan-related documents. The gold kept as security will be released and revalued and new terms for your Gold Loan will be decided.
✅ How to pay Nainital Bank Gold loan interest online?
Nainital Gold Loan provides you with easy and convenient methods to repay your Gold Loan. You can pay by giving a Standing Instruction or ECS on your bank account.
✅What if I can’t pay the interest on the Nainital Bank Gold loan for 3 months?
If someone defaults the Gold Loan repayment of the Nainital Gold loan interest, the bank has the right to auction their gold to recover the amount. The bank will also charge some penalty fees. This will discourage many banks and NBFCs from offering you any loans in the future.
✅How can I apply for the EMI moratorium on the Nainital Bank Gold loan?
You can apply for a Nainital gold loan moratorium very easily with Nainital Bank. All you have to do is give the bank your application details in person by visiting the bank or online on its app. The bank will only approve of a moratorium minimum of 5 days before the EMI payment due date.
✅How to pay the Nainital Bank Gold loan through credit card?
You cannot pay the Nainital Gold Loan through a credit card. If paying in cash is inconvenient for you, you can use debit cards, online transactions, or demand drafts. You can also pay through PayTM.
✅What is the Overdraft Scheme for Nainital Bank Gold Loan?
Nainital Bank does provide an Overdraft Scheme and the overall loan amount will have a Credit/Loan Limit. In Nainital Bank Gold Loan Overdraft facility, the bank charges interest only on the amount that you will withdraw/utilize.
✅What is the Nainital Bank Gold Loan closure procedure?
Once the loan is paid, the bank will close your gold loan immediately.
✅What is the Nainital Bank customer care number?
The Nainital Bank customer care number is 9878981144.
✅ What is Nainital Bank Gold Loan Preclosure charges?
The Nainital Bank decides the preclosure charges from time to time.
✅What is the maximum gold loan tenure?
The maximum gold loan tenure of Nainital Bank is up to 36 months
✅ What is the minimum gold loan tenure?
The minimum gold loan tenure of Nainital Bank is 12 months
✅ What are the foreclosure charges of the Nainital Bank Gold Loan?
Nainital Bank charges an interested borrower up to .50% on the principal amount in case of a Gold Loan Foreclosure.
Table of Contents
- 1 Nainital Bank Gold Loan Key Features – Apply Now
- 2 About Nainital Bank Gold Loan
- 3 Nainital Bank Gold Loan Interest Rate
- 4 Why Should You Choose Nainital Bank Gold Loan?
- 5 Advantages of Nainital Bank Gold Loan
- 6 Nainital Bank Gold Loan Eligibility
- 7 Nainital Bank Gold Loan Documents Required
- 8 Nainital Bank Gold Loan Process
- 9 Nainital Bank Gold Loan Rate per Gram
- 10 How Much Can I Get Through Nainital Bank Gold Loan
- 11 Nainital Bank Gold Loan EMI Calculator
- 12 Gold Loan Apply Online
- 13 Why Dialabank for online Nainital Bank Gold Loan?
- 14 Use of Nainital Bank Gold Loan
- 15 Nainital Bank Agricultural Jewel Loan Scheme
- 16 Benefits of Nainital Bank Agricultural Jewel Loan Scheme
- 17 Nainital Bank Gold Loan Overdraft Scheme
- 18 FAQs About Nainital Bank Gold Loan
- 18.1 ✅ What is Nainital Bank Gold Loan?
- 18.2 ✅ How Can I Get Gold Loan?
- 18.3 ✅How much Gold Loan Can I get per gram from Nainital Bank?
- 18.4 ✅ How Does Nainital Bank Gold Loan work?
- 18.5 ✅ What is the Gold Loan interest rate in Nainital Bank?
- 18.6 ✅ How to check gold loan status in Nainital Bank?
- 18.7 ✅ How to calculate gold loan interest in the Nainital Bank?
- 18.8 ✅What is the maximum gold loan amount I can avail of on a gold loan from Nainital Bank?
- 18.9 ✅ What is the loan tenure of the Nainital Bank gold loan?
- 18.10 ✅How much processing fee is applicable to the Nainital Bank Gold loan?
- 18.11 ✅ What are the charges for pre-payment in the Nainital Bank gold loan?
- 18.12 ✅How to renew Nainital Bank Gold Loan online?
- 18.13 ✅ How to pay Nainital Bank Gold loan interest online?
- 18.14 ✅What if I can’t pay the interest on the Nainital Bank Gold loan for 3 months?
- 18.15 ✅How can I apply for the EMI moratorium on the Nainital Bank Gold loan?
- 18.16 ✅How to pay the Nainital Bank Gold loan through credit card?
- 18.17 ✅What is the Overdraft Scheme for Nainital Bank Gold Loan?
- 18.18 ✅What is the Nainital Bank Gold Loan closure procedure?
- 18.19 ✅What is the Nainital Bank customer care number?
- 18.20 ✅ What is Nainital Bank Gold Loan Preclosure charges?
- 18.21 ✅What is the maximum gold loan tenure?
- 18.22 ✅ What is the minimum gold loan tenure?
- 18.23 ✅ What are the foreclosure charges of the Nainital Bank Gold Loan?