United Bank of India Gold Loan

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Unlock the Real Value of your Gold

Rates as low as 1% p.m.
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

About United Bank of India Gold Loan

United Bank of India is a government-owned bank. Union Bank of India provides banking and financial services to the customers. The bank was founded in 1950, and headquarters in Kolkata, India. Union Bank of India Gold loan is the quickest way to get funds for personal or business requirements. The funds from the Union Bank of India Gold loan can be used for weddings, education, business expansion or any other similar purpose. With minimal documentation and secure storage, the Union Bank of India gold loan is a simple funding option to meet your needs.

United Bank of India Gold Loan at a Glance
Interest RateStarts at 9.35%
Gold Loan Per GramUp to 75% of your Gold’s market value
TenureUp to 12 months
Processing Fee1% + GST

Different forms of Gold Ornaments Accepted for United Bank of India Gold Loan

  • Gold Bangles
  • Gold rings
  • Gold anklets
  • Gold necklace
  • Any other form of Gold Jewellery

Acceptable Purity of Gold – 18 Carat to 22 Carat.

United Bank of India Gold Loan Features and Benefits

United Bank of India Gold Loan

  1. Loan amount – Rs.50,000 onwards
  2. Instant funds– Get funds instantly against your gold, and repay with affordable repayment options
  3. Low-Interest Rates– Union Bank of India Gold Loan comes with competitive interest rates on Term Loan, Overdraft and EMI based loan. Repay your gold loan in lower EMIs, over a tenure of your choice.
  4. Collateral Held securely– Any gold surrendered to the UBI bank as collateral is kept safely in a locker, so you don’t have to worry about the safety or security of your gold.
  5. Quick and Efficient Servicing– Over the counter disbursement in just 30 minutes with minimal documentation
  6. Complete Transparency– Loan rates & other charges are communicated up front in writing, along with the quotation, so you don’t have to worry about any hidden costs or fees.

United Bank of India Gold Loan Interest Rate

United Bank of India Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged with depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates offered by the United Bank of India are lower in comparison to other loans because it is a fully secured loan.

The Gold Loan interest rates in the Bank starts at 9.35% per annum.

The bank also charges some additional fees along with the rate of interest in some cases, which are :

  • Processing fee – 1% of the loan amount or ₹1000 whichever is higher
  • Documentation charges 
  • Gold Valuation charges
  • The bank charges no additional fees for part payment or the foreclosure of the Gold Loan.

United Bank of India Gold Loan Rate per Gram

The amount of Gold Loan that you get per gram of your gold is directly dependent on the purity of your gold and the current prevailing rates of that purity of Gold in the market. The rate of gold changes daily in the market and therefore, the United Bank of India Gold Loan Rate per Gram also varies every day. United Bank of India gives a funding of up to 70% of the total market price of your Gold keeping the remaining 30% as security margin.

The amount that you get for a gram of Gold varies depending on its purity and the market price for your United Bank of India Gold Loan. 

**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**

United Bank of India Gold Loan Eligibility

United Bank of India Gold Loan is a financial product provided by the bank which caters to your needs of short term or long term funds. It is easy to avail financial service provided by banks at low rates of interest and also requires minimal documentation for the same. United Bank of India gives you the Loan amount within an hour of application as the valuation and approval process is quickly done keeping in mind your urgency regarding the need for funds.

Major Eligibility criteria for availing the United Bank of India Gold Loan is: 

  • The applicant should be a permanent Indian citizen who is at least 18 years of age and not more than 70 years (In most cases). 
  • The applicant should be the rightful owner of the Gold that he/she wishes to pledge with the bank. 
  • The Minimum weight of Gold that can be pledged is 10 grams and the applicant becomes ineligible for Gold Loan if he/she has less than 10 grams of gold. 
  • The Minimum purity of Gold required to be eligible for Loan is 18 carats. Also, Gold coins issued by banks are accepted up to 50 grams (In most cases). 
  • 24 Carat Gold in any form, Gold bars, Gold biscuits, and etc. are not recognised as valid forms of Gold to be kept as security for the United Bank of India Gold Loan.
  • A good Credit or CIBIL score is not required to apply for the Gold Loan as it is a fully secured financial service against your Gold as collateral security.

United Bank of India Gold Loan Documents Required

Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the United Bank of India wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire United Bank of India Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures high security of your gold ornaments till the loan is closed.

Documents required for Applying for United Bank of India Gold Loan are :

A duly filled and signed Gold Loan application form shall be submitted along with the following documents:

  1. 2 latest passport-sized photographs
  2. Basic KYC documents :
      • Identity Proof (Only one is required): Aadhar Card, Pan Card, Passport, Voter ID, and etc. 
      • Residence Proof (Only one is required): Aadhar Card, Pan Card, Voter ID, Ration Card, Electricity or Water Bills in the name of the applicant, or Rental Agreement(In case you live in a rented house). 
  3. Agricultural Land Proof and Income Statement of the applicant are required in the case the applicant wants the United Bank of India Gold Loan for Agricultural purposes.  
  4. If you are an existing customer of the bank you may not be required to submit any documents as the bank will already have your verified details.

**Any other documents as requested by the bank shall be duly submitted.**

United Bank of India Gold Loan Apply Online

Applying for the United Bank of India Gold Loan service is a simple and hassle-free process which can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with basic information regarding yourself and the Gold Loan you wish to avail. You will then need to visit the branch with the required documents and your gold.

You can also apply with Dialabank by following the below mentioned steps to get a Gold Loan as per your need.

  • Visit Dialabank’s digital platform, where you will have to just fill a form without any registration. 
  • Our Relationship Manager will contact you and assist you throughout the Gold Loan process and guide you in fulfilling your financial needs. 
  • You will get personalised service giving you the option of comparing and taking the best deal according to your needs without any extra charges.
  • With Dialabank you can compare the different offers and schemes from different banks on the basis of funding provided and the rate of interest charged to choose the best loan deal for yourself.

Use of United Bank of India Gold Loan

The funds acquired by availing the United Bank of India Gold Loan service can be used for a number of purposes such as:

  • To finance any personal expenses such as a wedding, travel, payment of higher education fees, and etc. 
  • For all your business needs such as buying raw material, expansion of business, and etc.
  • You can also avail a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities. 

FAQs About United Bank of India Gold Loan

Q. How much Gold Loan can I get per gram in United Bank of India?

Gold Loan per gram depends on the quality of your gold and the rates of gold currently prevailing in the market. TheUnited Bank of India gives you approximate funding of up to 75%.

Q. What is United Bank of India Gold Loan?

United Bank of India provides gold loans at competitive interest rates to anybody in possession of gold and in urgent need of funds. The loans are provided for a maximum period of 12 months and a maximum amount of Rs.10 lacs.

Q. What is the Gold Loan interest rate in United Bank of India?

The rate of interest charged by the banks on Gold Loans is comparatively less than the interest rate charged on other loans as it is a fully secured loan. The bank charges an interest rate of MCLR-Y+1.05% i.e. 9.35%.

Q. How to pay United Bank of India Gold Loan online?

The bank gives you various methods for the repayment of Gold Loans online and offline. For more information on this, contact the customer care executive or the loan officer in the branch.

Q. How to apply Gold Loan in United Bank of India?

Applying for the Loan against Gold from United Bank of India is an easy and a hassle-free process with minimal paperwork and low processing fee. You just need to visit the branch and fill a form. You can also apply online from the comfort of your home through Dialabank’s digital platform.

Q. How to renew United Bank of India Gold Loan online?

You can renew your Gold Loan by visiting your United Bank of India Gold Loan branch with your loan documents.

Q. How to take Gold Loan from United Bank of India?

You can take a Gold Loan from United Bank of India by going into the branch with your Gold ornaments and filling a form. To compare the offers from different banks and to avail the best deals suited for your needs you can apply for a Gold Loan online with Dialabank.

Q. What is Gold Loan in United Bank of India?

Gold Loan in United Bank of India is a service to fulfil the emergency requirements of an individual who is at least 21 years of age and below 70 years of age, in possession of gold. They can use this amount to cover personal or business expenses. The amounts are given at competitive interest rates for a maximum period of 12 months.

Q. How to get United Bank of India Gold Loan?

Gold Loan is a quick disbursing secured loan that you can avail to fulfil all your urgent financial needs. To get a Gold Loan from United Bank of India you will need to visit the bank branch with your gold ornaments and KYC documents.

Q. How to check United Bank of India Gold Loan status?

Status of your Gold Loan from United Bank of India can be checked at the bank branch by contacting your loan officer.

Q. How to close United Bank of India Gold Loan?

United Bank of India gives you the option of choosing the repayment option which could be on EMI basis or payment of lump-sum amount at the end of the tenure. The bank does not charge any prepayment charges.

Q. How to renew United Bank of India Gold Loan?

The renewal process of Gold Loan is fairly simple. Just visit the branch with all your loan-related documents and get the gold kept as security earlier released and revalued again at the current market prices. New terms for the loan would be formed upon the agreement of which the renewal process will be completed.

Q. What happens if someone defaults United Bank of India Gold Loan?

United Bank of India does not charge a penalty fee on the late payment of dues but auctions the gold for recovery if defaults are continued.

Q. How many branches of United Bank of India Gold Loan?

Presently the bank has a three-tier organisational setup consisting of its head office in Kolkata, 36 regional offices and 2054 branches spread all over India.

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