About Purvanchal Bank Gold Loan
Purvanchal Bank is a regional rural bank which was established after merging of two main regional banks namely Gorakhpur Kshetriya Bank and Basti Bank. The bank came into existence on 12 September 2005. Purvanchal Bank has its headquarter in Gorakhpur. And, it has a wide network of 571 branches in the entire state of Uttar Pradesh. The bank provides a good number of financial services like Gold Loan, Personal Loan, Home Loan and many more.
Purvanchal Bank Gold Loan Features
- Great Availability : First and foremost, Purvanchal Bank Gold Loan is a secured service, therefore the processing of Purvanchal Bank Gold Loan is quick as the bank is mostly concerned with the quality and weight of the gold.
- Low Rate of Interest : In contrast to services like personal loans, the gold loan has the least interest rate as banks keep security against the loan.
- Negligible foreclosure charges : Generally, banks do not have any prepayment charges but some banks can charge a penalty of just 1%.
- Safety of Ornaments : The ornaments are more secure with the banks due to the strict security In the banking institutions which is quite less at homes.
- No qualification of Credit Score : As Purvanchal Bank Gold Loan is a secured loan, therefore, the applicant does not have to worry about bad loan repayment history.
- Income-proof not required : The salary of an applicant is not an issue for availing a gold loan as it depends majorly on the weight and quality of gold available with the applicant.
- No loan processing charges: Another advantage is that the applicant does not have to pay extra for this service as the approval solely depends upon the asset kept as security.
- Flexible tenure: In addition to other advantages, the applicant can choose the tenure of the loan according to their requirements and needs.
- Only payment of interest: Lastly, the applicant has the option to pay the principal amount at the end of the tenure and only the interest every month.
Purvanchal Bank Gold Loan Eligibility
The applicant can avail a loan as long as the eligibility criteria are fulfilled:
- Firstly, The applicant should lie in the age group 18-70 years
- Most importantly, you should be a citizen of India
- No employment status is considered, therefore, both salaried and self-employed can apply
- The weight and quality of gold are equally important as a result the gold should weight at least 10 grams and purity should lie between 18 carats to 22 carats
- Maximum funding that can be availed is up to 1Crore.
Documents Required for Purvanchal Bank Gold Loan
- Proof of Adress of Applicant: The applicant has to particularly choose from:
- Aadhar Card / Pan Card / Valid Driving License / Ration Card / Utility Bills on the name of applicant / Rental Agreement of applicant / Voter ID card.
- Proof of Identity: The document for proof of identity should be specifically from one of the following:
- Aadhar Card / Pan Card / Driving License / Voter ID Card
- Signature Proof: The documents considered for proof of signature are namely, Bank’s Verification document / Valid Passport.
- Besides the above requirements, the applicant needs 2 passport size colored photographs.
Purvanchal Bank Gold Loan Interest Rate
- The interest rate of this service starts at 10.5%-12% p.a.
- The financial organizations provide these loans for 1 to 4 years.
- The pre-closure charges are in between 0% to 2% of the value of the loans.
How to Apply for Purvanchal Bank Gold Loan?
- To begin with, you can easily Apply Online through our website.
- Next, the loan seeker has to fill a form Online with current information.
- After this, you will get a call from our Relationship Manager to clear all doubts and to assist you in the entire process of the loan.
- After this, you can check your eligibility for further clarification of the approval of a loan.
- Furthermore, submit all the documents required as proofs in the banks.
- Finally, the loan is approved in some minutes and disbursed within a day.
*Besides that, You can directly call us on 95920-46860.
FAQ’s About Purvanchal Bank Gold Loan
Q. How much Gold Loan can I get per gram in Purvanchal Bank?
Gold Loan rate per gram of gold depends on the quality of the gold and the rate of gold in the market. Banks usually provide 80% funding of the total market value of your gold.
Q. What is Purvanchal Bank Gold Loan?
Purvanchal Bank gives high funding to the customer against Gold. Furthermore, the bank provides Gold Loan at a low rate of interest. It is a safe and secure method and the bank takes full responsibility for the safety of your gold ornaments.
Q. What is the Gold Loan interest rate in Purvanchal Bank?
The interest rate charged by Purvanchal Bank on Gold Loan starts from 10.70% per annum and varies according to the amount that is borrowed by the customer. The banks charge less rate of interest on these loans as these are fully secured loans and the bank has zero risks in lending the money.
Q. How to pay Purvanchal Bank Gold Loan online?
You can pay the Gold Loan by making payments through fund transfer as well as a Standing Instruction or an Electronic Clearance System on your account. It can be done online as well as offline. For more information on this, you need to visit the nearest bank branch.
Q. How to apply Gold Loan in Purvanchal Bank?
Applying for Gold Loan is a simple and hassle-free process that requires minimal documentation. You can apply by visiting the local branch of the bank and filling a form or apply online from the comfort of your room through Dialabank’s digital platform.
Q. How to renew Purvanchal Bank Gold Loan online?
Renewal can be done by visiting the bank and getting the gold revalued at new market prices. You need to carry all loan-related documents with you as well. The new terms are formed and upon their agreement, the loan is renewed.
Q. How to take Gold Loan from Purvanchal Bank?
Taking Gold Loan from Purvanchal Bank is easy and hassle-free. You just need to have owned the gold and visit the nearest bank branch. You are not required to submit any income proof or have a good credit score to take a Gold Loan.
Q. What is Gold Loan in Purvanchal Bank?
Gold Loan is a loan against your gold ornaments or coins which can be used to fulfill any emergency money requirements. The rate of interest charged on such loans is less as compared to home loans or personal loans as these are fully secured loans. Purvanchal Bank provides Gold Loan facilities at an attractive rate of interest for a maximum period of 12 months.
Q. How to get Purvanchal Bank Gold Loan?
You can easily get an instant Purvanchal Bank Gold Loan by visiting the nearest Purvanchal Bank branch with your gold and KYC documents. You can alternatively apply online at Dialabank’s digital platform and get the best deals and offers and avail personalized assistance to help you through the entire loan process.
Q. How to check Purvanchal Bank Gold Loan status?
Checking the status of your loan can be done by visiting the branch and contacting the loan officer. You can also email the bank for checking the status from the comfort of your home.
Q. How to close Purvanchal Bank Gold Loan?
Closure of the loan takes place once you have completed the due payment for the loan. The bank releases the gold after realizing the value completely. The closure takes place once the no dues certificate has been issued.
Q. How to renew Purvanchal Bank Gold Loan?
You can renew your Gold Loan from the same branch where the loan was initially approved. Your pledged gold is first released then revalued according to the current market rates.
Q. What happens if someone defaults Purvanchal Bank Gold Loan?
If someone defaults with repayment of the Gold Loan, the bank charges a penalty fee and have the right to even sell your gold to recover the money.
Q. How many branches of Purvanchal Bank Gold Loan?
The bank has a wide network of branches across the state of Uttar Pradesh.
Other Major Gold Loan Providers
Table of Contents
- 1 About Purvanchal Bank Gold Loan
- 2 Purvanchal Bank Gold Loan Features
- 3 Purvanchal Bank Gold Loan Eligibility
- 4 Documents Required for Purvanchal Bank Gold Loan
- 5 Purvanchal Bank Gold Loan Interest Rate
- 6 How to Apply for Purvanchal Bank Gold Loan?
- 7 FAQ’s About Purvanchal Bank Gold Loan
- 7.1 Q. How much Gold Loan can I get per gram in Purvanchal Bank?
- 7.2 Q. What is Purvanchal Bank Gold Loan?
- 7.3 Q. What is the Gold Loan interest rate in Purvanchal Bank?
- 7.4 Q. How to pay Purvanchal Bank Gold Loan online?
- 7.5 Q. How to apply Gold Loan in Purvanchal Bank?
- 7.6 Q. How to renew Purvanchal Bank Gold Loan online?
- 7.7 Q. How to take Gold Loan from Purvanchal Bank?
- 7.8 Q. What is Gold Loan in Purvanchal Bank?
- 7.9 Q. How to get Purvanchal Bank Gold Loan?
- 7.10 Q. How to check Purvanchal Bank Gold Loan status?
- 7.11 Q. How to close Purvanchal Bank Gold Loan?
- 7.12 Q. How to renew Purvanchal Bank Gold Loan?
- 7.13 Q. What happens if someone defaults Purvanchal Bank Gold Loan?
- 7.14 Q. How many branches of Purvanchal Bank Gold Loan?
- 8 Other Major Gold Loan Providers