Utkal Grameen Bank Gold Loan Approval Process

GOLD LOAN @ 0.57%*
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⍟  Highest Rate Per Gram
⍟  Lowest Interest Rate of 0.57% p.m.

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    Utkal Grameen Bank Gold Loan Approval Process

    Utkal Grameen Bank Gold Loan Features

    Utkal Grameen Bank Gold Loan Approval ProcessUtkal Grameen Bank Gold Loan Approval Process is easier, and the interest rate is comparatively lower. Because a gold loan is a type of secured loan as you provide your gold as security with Utkal Grameen Bank. Therefore the Loan process is a lot easier, and funds are provided instantly. Moreover, you can repay the borrowed money in a flexible loan tenure anywhere between 12 to 48 months.

    • Easy Process and instant approval: Utkal Grameen Bank Gold Loan Approval Process is comparatively easy, and the loan is provided instantly.
    • Lower Interest Rate: Utkal Grameen Bank Gold Loan interest rate can be as low as 7%.
    • Less Documentation: Utkal Grameen Bank Gold Loan involves an easy documentation process and less paperwork.
    • No Processing Fee: Utkal Grameen Bank doesn’t charge any processing fee on gold loans.
    • Flexible Tenure: Utkal Grameen Bank Gold Loan Tenure is flexible between 12 to 48 months.
    • Multiple Repayments Options: Utkal Grameen Bank Gold Loan offers multiple repayments options like bullet repayment, Term Loan, Regular EMI, and Overdraft.
    • Flexible instalment schedule: Utkal Grameen Bank Gold Loan instalments can be done weekly or monthly.
    • Maximum Gold Value: Utkal Grameen Bank provides a maximum value of 75% on your gold loan.
    • Safe: Your Gold deposited with Utkal Grameen Bank as collateral will be safely stored in a unique triple-layered secure locker.

    Utkal Grameen Bank 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.

    Utkal Grameen Bank 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

    Utkal Grameen Bank Gold Loan Approval Process

    Visit Utkal Grameen Bank official Website or follow these Easy Utkal Grameen Bank Gold Loan Approval Process steps.

    • Visit Dialabank or call 9878981166
    • Provide some details
    • Dialabank’s Relationship Managers will reach out to you
    • Your loan will be sanctioned immediately after your documents are approved

    FAQs on Utkal Grameen Bank Gold Loan Approval Process

    How much Gold Loan can I get from Utkal Grameen Bank for each gram?

    Per gram gold loan rates in Utkal Grameen Bank depends on your gold’s purity and the current prevailing market price.

    What is the lowest Gold Loan interest rate in Utkal Grameen Bank?

    The lowest Utkal Grameen Bank Gold Loan interest rate is 7% per annum, depending on your amount and the purpose of getting your loan. They can also charge some documentation fees, processing fees and valuation fees from the applicant.

    How can I calculate my EMI in Utkal Grameen Bank?

    You can visit Dialabank and use the EMI calculator to calculate your EMI for free.