Rajasthan Marudhara Gramin Bank Gold Loan

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Rajasthan Marudhara Gramin Bank Gold Loan

Rajasthan Marudhara Gramin Bank Gold Loan

Regional rural banks Rajasthan was set up in  01 st April 2014. The license issued by the Government of India, Ministry of Finance as well as Department of Economic Affairs (Banking Division) u/s 23A of RRB Act 1976.

The erstwhile Marudhara Gramin Bank and Mewar Aanchalik Gramin Bank were amalgamated into one entity, and a new bank is known as Rajasthan Marudhara Gramin Bank, sponsored by SBI having its head office at Jodhpur city in state Rajasthan.

About Gold Loan

Gold Loan is a secured service that helps people to cope up with the financial problems of life. In this, the loan seeker has to put ornaments of gold in the bank in return of money. As soon as, the applicant gives back the loan amount, the decorations are given back to the customer in the same shape. Most of the people avail this service because the Gold Loan Interest Rates are quite affordable in contrast to other services.

Rajasthan Marudhara Gramin Bank Gold Loan Eligibility

  1. The age of the customer should not be less than 18 years.
  2. The applicant should be a citizen of India.
  3. The applicant should have gold in an appropriate form.
  4. The quality of the gold should be 18 karats to 22 karats.

Rajasthan Marudhara Gramin Bank Gold Loan Interest Rate

In general Loan on Gold, the credit is available at a low-interest rate. Moreover, the reason behind that the gold loan comes in the category of secured loans. So the Gold interest rates are less than that of personal loan or any other kind of loans. Though the Gold loan rate keeps on changing with the passage of time as well as person to person. The Rajasthan Marudhara Gramin Bank Gold Loan is available at 1% per month interest rate.

  • Rajasthan Marudhara Gramin Bank Gold Loan Interest rate – 10.70 %
  • Offer low processing fee –  0.85%
  • Pre-closer charges range from 0 – 2 %.
  • Tenure minimum six months; maximum five year
  • Amount – Thousand to a crore

Rajasthan Marudhara Gramin Bank Gold Loan Documentation

  • Firstly, an Identity Proof is required. It can be an Aadhar Card/ Voter ID card/ PAN Card/Driving License/ passport.
  • Secondly, One proof of residence is also required while applying for a gold loan; it can also be an Aadhar Card / Voter ID card / PAN Card /Driving License / Passport / Ration Card / Electricity or water bills of last three months with the name of the applicant.
  • Two colored photographs.

Additional Documentation for Rajasthan Marudhara Gramin Bank Gold Loan

The bank needs a Proof of ownership of Land if you are applying for an agriculture gold loan.

  • Land Proof – In the case of Agriculture Loan on gold of more than Rs. 1 lac. The proof is not needed for allied agriculture purposes.
  • Income Proof or Salary Certificate as well as Form No.16

Why should Farmers choose Rajasthan Marudhara Gramin Bank Gold Loan?

Gold Loan is a good service for the farmers. Because, if the loan amount has to be used for farming purposes. Then, the banks provide a further discount on the interest rates. Therefore, the farmers can avail the service of the gold loan at a discount of 1% on the interest rate. Finally, if you want to use the loan amount for agricultural purposes and you have gold jewelry then, Gold Loan is the best option for you.

Rajasthan Marudhara Gramin Bank Gold Loan Process

  1. The bank checks the purity of the gold.
  2. The bank verifies the market rate for gold and the price of the previous day is take into consideration
  3. The LTV (Loan to Value) set by the RBI is 75%.
  4. If you have acknowledged the Gold loan amount and terms, the lender processes the application. The processing fees & other charges deducted from your Gold loan amount.
  5. After signing the agreement, the loan amount is disbursed to your account.

FAQs about Rajasthan Marudhara Gramin Bank Gold Loan

Q. How much Gold Loan can I get per gram in Rajasthan Marudhara Gramin Bank?

The loan rate per gram of gold depends on the purity of the gold that is to be pledged in the bank and the market price of the gold.

Q. What is Rajasthan Marudhara Gramin Bank Gold Loan?

Rajasthan Marudhara Gramin Bank avails high funding to the customer against Gold Loan. 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 Rajasthan Marudhara Gramin Bank?

Rate of Interest charged by the bank on Gold Loan depends on the amount of the loan that is borrowed and the quality of the gold to be pledged. The rate of interest starts at 10.70% per annum.

Q. How to pay Rajasthan Marudhara Gramin Bank Gold Loan online?

You can pay the Gold Loan EMI online through a standing instruction on your Rajasthan Marudhara Gramin Bank account or an ECS on some other bank account to automatically deduct the amount. You also have some other offline options to pay the amount.

Q. How to apply Gold Loan in Rajasthan Marudhara Gramin Bank?

Rajasthan Marudhara Gramin Bank gives the Gold Loan facility to people to fulfill their monetary requirements. You can apply for the loan by visiting the branch of the bank with basic identity proofs and gold for valuation. You can apply also online at Dialabank’s digital platform.

Q. How to renew Rajasthan Marudhara Gramin Bank Gold Loan online?

You have to be physically present in the bank branch for the renewal process. Call on the customer care number to know the exact process.

Q. How to take Gold Loan from Rajasthan Marudhara Gramin Bank?

Taking Gold Loan from Rajasthan Marudhara Gramin Bank is a simple and hassle-free process. You can apply by visiting the nearest branch or through Dialabank.com. The bank gives a good funding rate at low-interest rates and tenure of a maximum of 12 months.

Q. What is Gold Loan in Rajasthan Marudhara Gramin Bank?

Gold Loan in Rajasthan Marudhara Gramin Bank is a loan product that allows you to get a loan by submitting your gold as collateral security. The loan amount and interest rates depend on the purity of your gold. Rajasthan Marudhara Gramin Bank Gold Loan can be availed instantly and is your best option if you are in urgent need of money.

Q. How to get Rajasthan Marudhara Gramin Bank Gold Loan?

Getting Gold Loan from Rajasthan Marudhara Gramin Bank is a quick process as they provide loans with minimal documentation, no income proof and the complete security of your gold ornaments. The bank does not check the credit score for the loan and the borrower also doesn’t require a co-applicant.

Q. How to check Rajasthan Marudhara Gramin 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 Rajasthan Marudhara Gramin Bank Gold Loan?

Closure of your Gold Loan takes place once you have paid the due amount of your Gold Loan which has been realized by the bank and the gold ornaments have been released along with the issue of No Dues Certificate.

Q. How to renew Rajasthan Marudhara Gramin Bank Gold Loan?

Renewal of Rajasthan Marudhara Gramin Bank Gold Loan is a simple and hassle-free process wherein you just need to reach the branch of the bank with all loan-related documents and get the gold kept as security evaluated according to the new prices.

Q. What happens if someone defaults Rajasthan Marudhara Gramin Bank Gold Loan?

If you cannot pay for the Gold Loan from Rajasthan Marudhara Gramin Bank the bank charges a penalty fee from the borrower and this reflects in your credit score which affects your loan taking capacity.

Q. How many branches of Rajasthan Marudhara Gramin Bank Gold Loan?

Rajasthan Marudhara Gramin Bank has more than 700 branches in the state.

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