Telangana Bank Gold Loan Features
Telangana Bank Gold Loan is granted to the customers against gold as collateral, which is returned when the loan is repaid. This loan can then be used for any purpose by the borrower. Telangana Bank Gold Loan is provided at an attractive interest rate and for various purposes. No matter what occupation you belong to, whether you are a salaried, self-employed professional, entrepreneur, farmer or businessman, you can get a gold loan from Telangana Bank.
You can visit Dialabank for more information about gold loans.
Telangana Bank Gold Loan Eligibility
Minimum and Maximum Age
Note: However, many banks require a minimum age of 23 years
Interest rates are lower for a higher loan amount
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
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
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 with 18-24 carat purity
Employment track record and income proofs
Telangana Bank Gold Loan Documents Required
At the time of application the following documents are required:
At the time of disbursement the following documents are required:
Telangana Bank Gold Loan Approval Process
Telangana Bank is yet to begin accepting applications for the Telangana Bank Gold Loan Approval Process online.
However, if you wish to avail of a gold loan from Telangana Bank offline, you can follow these steps:
- Visit the nearest branch of the bank.
- Fill up and submit the application form along with the documents required.
- Get your gold ornaments checked.
- Discuss the terms of the loan with the representative.
- Confirm the loan and get the approval.
FAQs on Telangana Bank Gold Loan Approval Process
✅ What is the tenure for a gold loan at Telangana Bank?
The tenure of a gold loan can range from a few months to a few years. The actual tenure is determined by the bank depending on the convenience of the borrower and the loan amount.
✅ Do I have to be an existing customer of Telangana Bank to avail of a gold loan?
Telangana Bank will allow you to avail of a gold loan even if you are not an existing customer, provided that you have a good credit score.
✅ How is a gold loan amount calculated?
The loan amount is calculated by the formula:
Gold loan amount = Net weight x Per gram rate x Purity of gold
Table of Contents
- 1 Telangana Bank Gold Loan Features
- 2 Telangana Bank Gold Loan Eligibility
- 3 Telangana Bank Gold Loan Documents Required
- 4 Telangana Bank Gold Loan Approval Process
- 5 FAQs on Telangana Bank Gold Loan Approval Process