Features of Purvanchal Bank Gold Loan
Gold loans are a feasible and worthwhile solution in an uncertain setting, such as hospitalisation or farming, by using gold jewellery as collateral to receive the greatest amount from lenders. Gold loans are a rapid way to receive credit, so if you have a spotless credit history, you can get one in a flash. For more information, as well as to connect and use other services, go to the dialabank website.
The following are some characteristics of a gold loan:
- Loan funds are disbursed quickly, especially during times of crisis.
- You can receive credit amounts without having to visit a bank if you use a digital gateway for gold loans.
- Individuals can take out loans ranging from Rs 10,000 to Rs 25 lakhs at varied interest rates.
Purvanchal Bank Gold Loan comparison with banks
| Bank / NBFC | Rate Per Gram | Interest Rate | Gold Loan Tenure | Min – Max Loan Amount |
| ₹ 3,506 to ₹ 4,621 | 0.099 | 3 to 24 months | ₹ 10 thousand to 5 crore | |
| Private Gold Loan | ₹ 3,506 to ₹ 4,621 | 0.1 | 6 to 12 months | ₹ 10 thousand to 5 crore |
| ₹ 3,506 to ₹ 4,621 | 0.12 | 7 days to 36 months | ₹ 3 thousand to 1 crore | |
| ₹ 3,506 to ₹ 4,621 | 0.1225 | 12 months | ₹ 3 thousand to 1 crore | |
| ₹ 3,506 to ₹ 4,621 | 0.1025 | 36 months | ₹ 20 thousand to 50 lakh | |
| ₹ 3,506 to ₹ 4,621 | 0.1 | 3 to 36 months | ₹ 10 thousand to 5 crore | |
| SBI Gold Loan | ₹ 3,506 to ₹ 4,621 | 0.0975 | 12 to 36 months | ₹ 20 thousand to 50 lakh |
| ₹ 3,506 to ₹ 4,621 | 0.075 | 3 to 36 months | ₹ 20 thousand to 50 lakh | |
| ₹ 3,506 to ₹ 4,621 | 0.1025 | 12 months | ₹ 20 thousand to 50 lakh | |
| ₹ 3,506 to ₹ 4,621 | 0.1025 | 12 months | ₹ 10 thousand to 5 crore | |
| IIFL Gold Loan | ₹ 3,506 to ₹ 4,621 | 0.12 | 11 months | ₹ 3 thousand to 50 lakh |
Purvanchal Bank Gold Loan EMI Calculator
Calculate your loan eligibility based on your jewellery collection with our loan calculator. On the other hand, calculating a precise amount based on your pocket is complicated and time-consuming. As a result, we’ve devised a strategy for assisting clients with calculating the sum. Our calculators allow customers to calculate the exact rate of interest and loan term.
Purvanchal Bank Gold Loan Documents Required
At the time of application the following documents are required:
- Proof of the citizenship of India
- Duly filled application form
- 2 passport-sized photographs
- Applicant’s KYC documents to establish Identity and Address
- Salary/ Income Proof
- Witness Letter in case of illiterate borrowers
- In the case of Agriculture Loan of more than Rs. 1 lac, land proof
- Certificate by the Jewel Appraiser (Bank will arrange)
At the time of disbursement the following documents are required:
- Demand Promissory Note & Demand Promissory Note Take Delivery Letter
- Gold Ornaments Take Delivery Letter
- Arrangement Letter
Purvanchal Bank Gold Loan Documents Required – FAQs
✅ Is it feasible to foreclose or close my loan account before the tenor expires? In such a circumstance, what charges would be levelled?
Clients can close their accounts and pay off their debts before the period expires, releasing their gold from the branch. If you pay off your loan before the three-month period is complete, you’ll be charged a minor termination fee ranging from Rs. 0-150. After three months, there are no cancellation fees.
✅ What are the additional costs I’ll incur if I apply for a loan?
Each gold loan is subject to a small processing fee. Each bank imposes different amounts of hidden expenses, but they rarely reach 2% of the loan amount. We will charge you a gold verification cost in addition to the service fee, which will be covered by the lender.
✅ Is it possible for me to pay back the loan in instalments?
The debt can be paid in instalments. The gold pledged will not be returned until the total loan sum is paid back.
