Prathama Bank Gold Loan Approval Process


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    Prathama Bank Gold Loan Approval Process

    Prathama Bank Gold Loan FeaturesPrathama Bank Gold Loan Approval Process

    Prathama Bank gives all the financial services to its customers like saving deposits, fixed deposits, recurring deposits, loans, personal loans, net banking, and many more. The Bank can provide you with the opportunity to sanction a Gold loan. Prathama Bank Gold Loan Approval Process is quite simple and quick. The bank provides customers with loans usually in a few periods of hours of sanctioning the loan, the reason behind this being that the borrower presents Gold at the time of the application and processing. The Gold is kept safe and secured in the Bank lockers.

    You can visit Dialabank for more information about gold loans.

    Prathama 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 proof 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.

    Prathama 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)

    Prathama Bank Gold Loan Approval Process

    The Prathama Bank Gold Loan Approval Process is largely carried out offline. You can follow these steps to apply for a gold loan at Prathama Bank :

    • Visit any branch of the bank.
    • Fill up the application form for the gold loan and submit all the required documents correctly.
    • Have your eligibility confirmed and gold valued by the bank representatives.
    • Discuss the terms of the loan and have the gold loan approved by the bank.

    Alternately, if you wish to carry out the Prathama Bank Gold Loan Approval Process online, you can visit Dialabank for the best services. Fill up the form and our relationship managers will be in touch with you in a short time. You can also choose to directly call us at 9878981166 to avail of our services.

    FAQs on Prathama Bank Gold Loan Approval Process

    ✅ What is the period of Loan repayment at Prathama Bank?

    The loan tenure at Prathama Bank gold loan ranges from 6 to 60 months.

    ✅ What is the maximum loan amount I can avail of Gold Loan from Prathama Bank?

    You can avail of a Gold Loan of up to Rs 1 crore from Prathama Bank provided you fulfil the eligibility requirements.

    ✅ What if I can’t repay the Prathama Bank Gold Loan on time?

    If you cannot pay your Prathama Bank gold loan amount, the bank will warn or notify you to repay the loan amount on time. If you continuously make a loan non-payment, the bank will have gained all the rights to sell your gold ornaments mortgaged.