United Bank of India Gold Loan Approval Process

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    United Bank of India Gold Loan Approval Process

    United Bank of India Gold Loan Features

    United Bank of India Gold Loan Approval ProcessHeadquartered in Kolkata, India, the United Bank of India is a wholly-owned subsidiary of Punjab National Bank and has 36 regional offices with 2054 branches across the country. The government approved the restructuring of the United Bank of India on 30th March 2009. A gold loan or loan against gold is a secured financial loan taken by the borrower from a lender by pledging their gold articles as collateral. A gold loan helps an individual in meeting his/her immediate financial requirements, be it an international education, marriage expenses, covering medical emergencies, or any other personal use.

    United Bank of India Gold Loan Approval Process Features:

    • Interest rate: United Bank of India offers low interest rate.
    • Processing fee: United Bank of India charges a low processing fee.
    • Repayment: Flexible repayment schedule available.
    • Documentation: Simple documentation with quick disbursals.
    • Tenure: It also provides flexible tenure options.
    • Safe: Your collateral deposited (gold) will be safe and stored in a secured locker.
    • Easy EMI options are also available.

    United Bank of India Gold Loan Eligibility

    Minimum and Maximum Age
    21 Yrs – 60 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 proofs 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.

    United Bank of India 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

    United Bank of India Gold Loan Approval Process

    United Bank of India Gold Loan Approval Process via Dialabank:-

    Step 1: Visit the Dialabank gold loan application page.

    Step 2: Enter the required information.

    Step 3: You will get required details such as the amount of loan, interest rate, and loan tenure.

    Step 4: Go forward with the application and submit the form.

    Step 5: Call 9878981166 and our relationship manager will serve you.

    FAQs on United Bank of India Gold Loan Approval Process

    How to apply for the United Bank of India Gold Loan?

    Apply for Gold Loan with the United Bank of India by visiting the branch and enquiring about the same with your financial service provider. You can also apply online with Dialabank and get the offers and deals as per your requirements.

    What is the loan tenure of the United Bank of India Gold Loan?

    The loan tenure of the United Bank of India gold loan is up to 12-36 months.

    What payments methods are available?

    You can make a repayment or pay your interest through any of the following modes:
    – Internet Banking
    – Debit Cards
    – UPI
    – Money transfer using RTGS/IMPS (we don’t recommend NEFT due to delayed processing)