Oriental Bank of Commerce Gold Loan

Get Loan in 30 Mins

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Unlock the Real Value of your Gold

Rates as low as 1% p.m.
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

About Oriental Bank of Commerce Gold Loan

Oriental Bank of Commerce Gold Loan

Gold is one of the most precious and celebrated metals in India. Buying and gifting gold is an old tradition of our culture. However, the service of Loan Against Gold has changed the scenario of how people use this metal. Nowadays, people buy Gold to overcome financial troubles in life.

Gold Loan is the fastest growing financial service in the banking industry. Majority of people have gold ornaments which are just lying in the bank lockers or at home. Thus, Loan Against Gold provides an opportunity for the people to unleash the worth of this valuable yellow metal by availing a gold loan against them.

Oriental Bank of Commerce Gold Loan at a Glance
Interest RateStarts at 12.25%
Gold Loan Per GramVaries depending on the purity of gold
TenureUp to 12 months
Processing Fee1%

Oriental Bank of Commerce Gold Loan Eligibility

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. Oriental Bank of Commerce 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 Oriental Bank of Commerce Gold Loan is: 

  • The applicant should be a permanent Indian citizen who is at least 18 years of age and not more than 70 years (In most cases). 
  • The applicant should be the rightful owner of the Gold that he/she wishes to pledge with the bank. 
  • The Minimum weight of Gold that can be pledged is 10 grams and the applicant becomes ineligible for Gold Loan if he/she has less than 10 grams of gold. 
  • The Minimum purity of Gold required to be eligible for Loan is 18 carats. Also, Gold coins issued by banks are accepted up to 50 grams (In most cases). 
  • 24 Carat Gold in any form, Gold bars, Gold biscuits, and etc. are not recognised as valid forms of Gold to be kept as security for the Oriental Bank of Commerce Gold Loan.
  • 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.

Oriental Bank of Commerce Gold Loan Interest Rate

A 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 Oriental Bank of Commerce are lower in comparison to other loans because it is a fully secured loan.

The Gold Loan interest rates in the Oriental Bank of Commerce starts at 12.25% 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 loan amount or ₹1000 whichever is higher
  • Documentation charges 
  • Gold Valuation charges
  • The Oriental Bank of Commerce charges no additional fees for part payment or the foreclosure of the Gold Loan.
Advance Against Gold Jewellery1.)Rate of Interest for Agriculture  purpose
Loan upto Rs.50000BR +1.50%   =12.25%
Loan above Rs.50000 & upto Rs. 2.00 LacsBR +2.50%   =13.25%
Above Rs. 2.00 Lac & up to Rs. 10.00 LacsBR +3.50%  = 14.25%
2.) Other than Agriculture purposeBR +5.00%   =15.75%

Oriental Bank of Commerce Gold Loan Documents Required

Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Oriental Bank of Commerce 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 Oriental Bank of Commerce 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 Oriental Bank of Commerce Gold Loan are :

A duly filled and signed Gold Loan application form shall be submitted along with the following documents:

  1. 2 latest passport-sized photographs
  2. Basic KYC documents :
      • Identity Proof (Only one is required): Aadhar Card, Pan Card, Passport, Voter ID, and etc. 
      • Residence Proof (Only one is required): Aadhar Card, Pan Card, Voter ID, Ration Card, Electricity or Water Bills in the name of the applicant, or Rental Agreement(In case you live in a rented house). 
  3. Agricultural Land Proof and Income Statement of the applicant are required in the case the applicant wants the Oriental Bank of Commerce Gold Loan for Agricultural purposes.  
  4. If you are an existing customer of the bank you may not be required to submit any documents as the bank will already have your verified details.

**Any other documents as requested by the bank shall be duly submitted.**

Oriental Bank of Commerce Gold Loan Rate per Gram

The amount of Gold Loan that you get per gram of your gold is directly dependent on the purity of your gold and the current prevailing rates of that purity of Gold in the market. The rate of gold changes daily in the market and therefore, the Oriental Bank of Commerce Gold Loan Rate per Gram also varies every day. Oriental Bank of Commerce gives a funding of up to 70% of the total market price of your Gold keeping the remaining 30% as security margin.

The amount you will get for a gram of Gold depending on its purity and the market price for your Oriental Bank of Commerce Gold Loan. 

**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**

Oriental Bank of Commerce Gold Loan Apply Online

Applying for the Oriental Bank of Commerce 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 basic 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 to just 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 different banks on the basis of funding provided and the rate of interest charged to choose the best loan deal for yourself.

Use of Oriental Bank of Commerce Gold Loan

The funds acquired by availing the Oriental Bank of Commerce Gold Loan service can be used for a number of purposes such as:

  • To finance any personal expenses such as a wedding, travel, payment of higher education fees, and etc. 
  • For all your business needs such as buying raw material, expansion of business, and etc.
  • You can also avail a Oriental Bank of Commerce Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.

Oriental Bank of Commerce Gold Loan Features

  1. You can avail Loan up to Rs.1 Crore or more & up to 70% of value for any purpose
  2. You get 100% Safety & Security of your Gold Jewellery
  3. Get your Loan processed in less than 30 minutes
  4. Enjoy Anytime Liquidity.
  5. No EMI, Service only Interest and enjoy the Loan facility
  6. Lower Interest Rates on Oriental Bank of Commerce Gold Loan
  7. Oriental Bank of Commerce Gold Loan has Simple documentation and fast processing.
  8. Overdraft limit varies depending on the market rate of gold.
  9. The interest rate on Oriental Bank of Commerce Gold Loan is payable the only amount of the overdraft that you use.

FAQs About Oriental Bank of Commerce Gold Loan

Q. How much Gold Loan can I get per gram in Oriental Bank of Commerce?

The per gram Gold Loan rates in Oriental Bank varies depending on the purity of your Gold. Oriental Bank of Commerce accepts gold ornaments of purity of 22K and 24K only. Maximum funding of 70% of your Gold’s market price can be availed.

Q. What is Oriental Bank of Commerce Gold Loan?

Oriental Bank of Commerce provides loans at attractive rates and tenure of choosing the borrower to fulfill the monetary needs of the borrower whether personal or professional. The bank also provides loans against gold for agriculture purposes at interest rates slightly lower than loans against gold for non- agricultural purposes.

Q. What is the Gold Loan interest rate in Oriental Bank of Commerce?

The Gold Loan rates in Oriental Bank of Commerce are 1.5% higher than the prevailing 1 Year MCLR rate.

Q. How to pay Oriental Bank of Commerce Gold Loan online?

You can pay for your Gold Loan with Oriental Bank in easy monthly installments. For more details, you can contact your loan branch either in person or through customer care number.

Q. How to apply Gold Loan in Oriental Bank of Commerce?

You can apply for a Gold Loan from Oriental Bank of Commerce either online on Bank’s website or by visiting the nearest branch. You can also visit Dialabank‘s website and apply for your preferred option after comparing rates and offers from different banks across India.

Q. How to renew Oriental Bank of Commerce Gold Loan online?

You will need to visit your loan branch in person in order to renew your Oriental Bank of Commerce Gold Loan. The gold will be revalued and a renewal fee may be charged.

Q. How to take Gold Loan from Oriental Bank of Commerce?

You can take a Gold Loan in few hours and fulfill all your monetary needs. Just visit the nearest Oriental Bank branch with your Gold and start your loan process. The disbursement occurs after the verification and valuation of your pledged gold.

Q. What is Gold Loan in Oriental Bank of Commerce?

Oriental Bank of Commerce provides Gold Loan facility for a maximum loan amount of ₹10 lacs for agricultural purposes and ₹50 lacs for non-agricultural purposes. The loan can be taken for a period of 12 months at attractive interest rates.

Q. How to get Oriental Bank of Commerce Gold Loan?

Gold Loan is a quick disbursing secured loan that you can avail to fulfill all your urgent financial needs. To get a Gold Loan from Oriental Bank you will need to visit the bank branch with your gold ornaments and KYC documents.

Q. How to check Oriental Bank of Commerce Gold Loan status?

You can easily track your loan online using your Gold Loan reference number. You may also call their customer care number or visit the branch in person.

Q. How to close Oriental Bank of Commerce Gold Loan?

Once you have paid all the pending dues you can close your Gold Loan by visiting the loan branch. The bank after verification will give your pledged gold to you and close your loan account.

Q. How to renew Oriental Bank of Commerce Gold Loan?

The renewal process of the Oriental Bank of Commerce Gold Loan is fairly simple. You just need to visit the branch with all the documents related to your loan and get your gold revalued. The new terms of the loan are discussed and agreed upon for the renewal.

Q. What happens if someone defaults Oriental Bank of Commerce Gold Loan?

If someone defaults the payment of the loan, the bank charges a penal fee of 0-2% on the total amount. The bank also has the right to auction your gold in case you fail to repay the loan amount.

Q. How many branches of Oriental Bank of Commerce Gold Loan?

Oriental Bank of Commerce has over 2300 branches across India to provide its banking services.

Share This

Menu