Pallavan Grama Bank Gold Loan Approval Process


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    Pallavan Grama Bank Gold Loan Approval Process

    Pallavan Grama Bank Gold Loan Features

    Pallavan Grama Bank Gold Loan is offered at an attractive rate of interest of Pallavan Grama Bank Personal Loan Customer Care7% p.a. Palllavan Grama Bank operates in various cities of Tamil Nadu and offers Gold Loan with minimal documentation and at a quick processing time.

    Gold Loan is a secured form of loan which is offered by pledging your gold ornaments or jewellery, etc. with the bank. Once a proper evaluation of your gold is done by the bank, the loan amount is ascertained.

    The various features of Pallavan Grama Bank Gold Loan are:

    1. Attractive low-interest rates.
    2. Fast and simple documentation.
    3. Flexible repayment options.
    4. Low processing fees.
    5. All individuals can apply for Gold Loan.

    Pallavan Grama Bank Gold Loan Eligibility

    Minimum and Maximum Age
    21 Yrs – 65 Yrs
    Note: However, many banks require a minimum age of 23 years
    Loan Amount
    Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh
    Interest rates are lower for a higher loan amount
    Employment Type
    Salaried and self-employed both are eligible
    Businessmen are increasingly taking gold loans to meet their working capital requirements.
    In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans.
    Quality of Gold
    Gold ornaments should range in between 18 to 24 Carats
    An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22
    CIBIL Score
    Banks do not check CIBIL score for granting a gold loan
    However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score
    Gold ornaments that can be used for availing loan
    Gold bars and coins
    Gold with 18-24 carat purity
    Employment track record and income proofs
    Banks do not check your job stability or business stability to sanction you a gold loan. Gold loans are granted without income proofs. You only need to submit your basic KYC documents such as address proof, identity proof, and an Aadhaar card to avail of this loan.

    Pallavan Grama Bank Gold Loan Documents Required

    List of Documents
    Passport (Not expired)
    Driving license (Not expired)
    Voters’ ID Card
    Aadhaar Card issued by UIDAI
    PAN (Permanent Account Number) Card (along with any of the above-mentioned documents) or Form 60
    One Passport Size Photograph
    Agri Allied Occupation Documentation( in case of bullet repayment for agriculture customers)

    Pallavan Grama Bank Gold Loan Approval Process

    1. Visit the home branch or the nearest branch of the bank.
    2. Fill out the application.
    3. Provide all necessary documents to the bank like your KYC documents.
    4. Take your gold to the bank for its evaluation to ascertain the loan amount.
    5. Discuss and evaluate loan terms with the bank’s representative like loan amount, tenure, payment options, fees, etc.
    6. After due evaluation of your application, the loan will be granted.

    You can also apply with Dialabank for a hassle-free process or simply call us at 9878981166.

    FAQs on Pallavan Grama Bank Gold Loan Approval Process

    ✅ What happens if Gold Loan is not paid?

    If you fail to repay your Gold Loan for a few consecutive payments or after repeated reminders by your bank then, your pledge gold will be sold off/auctioned to recover the debts.

    ✅ Which bank is best for Gold Loan?

    All banks have their own terms and conditions as well as pros and cons. You can compare Gold Loan products of various banks with Dialabank.

    ✅ What is the maximum loan amount which can be availed under Gold Loan scheme?

    The maximum amount varies from bank to bank. It can range between ₹1,500 and ₹1 Crore depending on the eligibility criteria of a particular bank/institution and the value of your gold ornaments.