Pandyan Grama Bank Gold Loan Approval Process


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    Pandyan Grama Bank Gold Loan Approval Process

    Pandyan Grama Bank Gold Loan Features

    Pandyan Grama Bank Gold Loan is available to anyone with repayment capacity. Pandyan Grama Bank Gold LoanPandyan Grama Bank Gold Loan is offered at an attractive rate of interest of 7% p.a. Pandyan Grama Bank operates in various cities of Tamil Nadu and offers Gold Loan with minimal documentation at a quick processing time.

    Gold Loan is a secured loan that is offered after pledging your gold ornaments with the bank as collateral or security. After the evaluation of your gold is done, the loan amount is ascertained by the bank.

    The various features of Pandyan Grama Bank Gold Loan are:

    1. Low and attractive interest rates.
    2. Fast and minimal documentation.
    3. Available for personal and business requirements.
    4. Any individual can apply.
    5. Repayment may vary depending upon the scheme.

    Pandyan 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.

    Pandyan 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 above-mentioned documents) or Form 60
    One Passport Size Photograph
    Agri Allied Occupation Documentation( in case of bullet repayment for agriculture customers)

    Pandyan Grama Bank Gold Loan Approval Process

    1. Visit the nearest branch.
    2. Fill out the loan application to apply and provide all the required details.
    3. Provide all the documents with the bank.
    4. After completing your documentation, take your gold for its evaluation.
    5. Discuss and negotiate loan terms like loan amount, tenure, payment options, fees if any, etc. with the representative of the bank.
    6. After processing your application, the loan will be granted to you.

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

    FAQs on Pandyan Grama Bank Gold Loan Approval Process

    ✅ What are the types of Gold loans?

    There are two types of gold loans – Gold Loan and Realty Gold Loan. The repayment tenures for both are up to 36 months.

    ✅ What are the benefits of taking a Gold Loan?

    Low-interest rate, minimal documentation, lack of CIBIL score required, high LTV ratio, low or no foreclosure charges are among the few benefits of taking a Gold Loan.

    ✅ How is Gold Loan calculated?

    You can calculate the gold loan interest by subtracting the principal amount from the total amount to be paid. The total amount you would pay by the end of tenure can be calculated with the help of a repayment calculator. You can calculate your Gold Loan online with the help of Dialabank. Click here.