Utkal Grameen Bank Gold Loan

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About Utkal Grameen Bank Gold Loan

Utkal Grameen Bank is a rural bank in the state of Odisha. The bank was established in 2012 after the merger of Rushikulya Gramya Bank and Utkal Gramya Bank. The bank is owned by the Government of India, Government of Odisha and State Bank of India. Also, the head office of the bank is in Bolangir and also it operates in 17 districts of Odisha State. Finally, there are a lot of financial services provided by this bank namely, Gold Loan, Home Loan, Personal Loan and many more.

Why Utkal Grameen Bank Gold Loan?

  • Fast Process: This is a  secured loan, therefore, you can get your gold loan disbursed in just 30 minutes
  • Transparent System: The system of the gold loan is very clear, therefore, there are no hidden norms
  • No Debt Burden: There can be situations in which an applicant is not able to repay the loan amount in such a case the applicant will not be under debts as the bank will only confiscate the ornaments.
  • Advantage on the rate of interest for Farmers: The farmers are given a rebate on the interest rate on availing this service.
  • No Income bounds: There are no restrictions on the salary or income of the applicant hence, anyone with any income rage can avail a Utkal Grameen Bank Gold Loan.
  • Low Rate of Interest: The applicant will have to pay the least interest rate in comparison to other loans.
  • Security of Assets: The applicant does not has to worry about the safety of the ornaments as it is the headache of the bank and not the owner.
  • Minimal Documents:The applicant has to submit very fewer documents to avail a Utkal Grameen Bank Gold Loan which makes it a hassle-free service.

Utkal Grameen Bank Gold Loan Interest Rate

  1. The interest rate of this service starts at 10.5%-12% p.a.
  2. The financial organizations provide these loans for 1 to 4 years.
  3. The pre-closure charges are in between 0% to 2% of the value of the loans.

Documents Required for  Utkal Grameen Bank Gold Loan

Utkal Grameen Bank Gold Loan

  • Proof of Adress of Applicant: The applicant has to particularly choose from: Aadhar Card /Pan Card / Valid Driving License / Ration Card / Utility Bills on the name of applicant / Rental Agreement of applicant / Voter ID card.
  • Proof of Identity: The document for proof of identity should be specifically from one of the following: Aadhar Card / Pan Card / Driving License / Voter ID Card
  • Signature Proof:  The documents considered for proof of signature are namely, Bank’s Verification document/ Valid Passport.

Besides the above requirements, the applicant needs 2 passport size colored photographs.

Utkal Grameen Bank Gold Loan Eligibility

Being eligible for a gold loan is easier in comparison to other loans:

  1. The age of the applicant should lie between 18 years to 70 years.
  2. The applicant should be a citizen of India.
  3. The quality of gold should be from 18 Carat to 22 Carat in order to get a loan.
  4. Another equally important criteria are the weight of gold which should be more than 10 grams.
  5. Anyone can apply for a gold loan whether you are a salaried applicant or self-employed.

How to Apply for Utkal Grameen Bank Gold Loan?

To begin with, you can easily Apply Online through our website.

  1. The loan seeker has to fill a form Online with current information.
  2. You will get a call from our Relationship Manager to clear all doubts and to assist you in the entire process of the loan.
  3. You can check your eligibility for further clarification of the approval of a loan.
  4. Submit all the documents required as proofs in the banks.
  5. The loan is approved in some minutes and disbursed within a day.
  6. You can also give a call on 95920-46860.

FAQ’s About Utkal Grameen Bank Gold Loan

Q. How much Gold Loan can I get per gram in Utkal Grameen Bank?

The rate of Gold Loan per gram of gold depends on the market price of the gold and the purity of your gold. The rat per gram varies daily

Q. What is Utkal Grameen Bank Gold Loan?

Utkal Grameen Bank offers Gold Loans for agriculture as well as non-agricultural purposes at a different rate of interest with lower interest for priority sector loans. The bank gives the loan with less paperwork and quick disbursal. The bank offers prepayment facilities and renewal of tenure options as well.

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

The Gold Loan rate of interest charged by the bank varies depending on the purpose of the loan. The interest rates start from 7% per annum (floating rate) for Gold Loan taken for agriculture and 13.50% per annum (floating) taken for personal consumption.

Q. How to pay Utkal Grameen Bank Gold Loan online?

You can repay your Gold Loan with Utkal Grameen Bank through several methods, the most common being monthly interest payment, EMI. You can contact your loan branch for further details or contact Dialabank for all personalized financial advice.

Q. How to apply Gold Loan in Utkal Grameen Bank?

You can apply by visiting the branch or through Dialabank’s digital platform to get personalized service and compare the offers from different banks and taking the offer suitable to you.

Q. How to renew Utkal Grameen Bank Gold Loan online?

The renewal process requires the presence of the borrower in the bank’s branch. For more information on this, just visit the branch and contact the loan officer or call the customer care helpline.

Q. How to take Gold Loan from Utkal Grameen Bank?

To take Gold Loan from Utkal Grameen Bank you just need to apply for it with the bank. After submission of the application, the valuation of your gold is done after which the amount and the rate of interest are agreed upon. Once approved, the loan amount is disbursed within hours.

Q. What is Gold Loan in Utkal Grameen Bank?

Utkal Grameen Bank provides loan against gold as security for fulfilling the urgent requirement of funds of the borrowers. The bank gives loans at an attractive rate of interest and offers different schemes depending on the purpose for which the loan is taken.

Q. How to get Utkal Grameen Bank Gold Loan?

You can easily get a Gold Loan from Utkal Grameen Bank by pledging your gold. The loan amount is dependent on the purity of your gold and the rate of gold in the market. You will need to visit the bank branch with basic KYC documents and your gold or you can apply online with Dialabank and avail personalized assistance from the comfort of your home.

Q. How to check Utkal Grameen Bank Gold Loan status?

You can check the status by emailing the bank’s executive and asking them about your application or by visiting the branch and meeting the loan officer. In most cases, the disbursal of the amount is done on the same day of the approval of the application.

Q. How to close Utkal Grameen Bank Gold Loan?

To close your Utkal Grameen Bank Gold Loan you will need to pay the outstanding loan amount. Upon verification of your payment, the bank will return your Gold to you. For more information, contact the loan officer who is in charge of your file.

Q. How to renew Utkal Grameen Bank Gold Loan?

Renewal of Gold Loan can be done by visiting the branch along with all the loan documents. The gold is released and revalued based on new market rates and new terms are agreed upon for the renewal of the loan.

Q. What happens if someone defaults Utkal Grameen Bank Gold Loan?

Defaulting on your Gold Loan will give the bank legal rights to confiscate and sell your Gold. You may also become liable for further legal actions in case the bank is unable to recover the entire overdue amount.

Q. How many branches of Utkal Grameen Bank Gold Loan?

The Utkal Grameen Bank has a wide network of 442 branches, of which 360 are in remote rural areas with their headquarters in Bolangir, Odisha.

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