Utkarsh Small Finance Bank Gold Loan Features
Utkarsh Small Finance Bank Gold Loan Approval Process. Know details about Gold loan is one of the easiest and fastest loans to get in time of need. It has a flexible loan tenure from 3 to 24 months with low interest. The documentation process of a gold loan is also simple, One even doesn’t need to have their income documents for a gold loan. Also, you can repay a gold loan easily either by EMI or by paying interest monthly and principal value at the end of tenure. One doesn’t need to worry about the security of their gold as they are put in vaults with a special security system.
Utkarsh Small Finance 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
Utkarsh Small Finance 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:
Utkarsh Small Finance Bank Gold Loan Approval Process
Utkarsh Small Finance Bank Gold Loan Approval Process is instant and hassle free:
- The first step for the approval of the loan is filling out the application form. You can either fill the form through the website or in person and submit documents needed for the loan like identity proof, address proof, and passport size photographs.
- The next step is for approval is verification of gold and documents.
- The last step of gold loan approval is loan disbursement. Also, you can not cancel a loan after its disbursement
FAQs on Utkarsh Small Finance Bank Gold Loan Approval Process
✅ Can I get a gold loan if my credit score is not good?
Yes, you can get a gold loan even if you do not have a good credit score.
✅ What happens when the gold loan is not paid?
The gold used as collateral is auctioned off when the gold loan is not paid on time.
✅ How long does it take for approval of a gold loan?
It takes about 1-2 hours for a gold loan.
Table of Contents
- 1 Utkarsh Small Finance Bank Gold Loan Features
- 2 Utkarsh Small Finance Bank Gold Loan Eligibility
- 3 Utkarsh Small Finance Bank Gold Loan Documents Required
- 4 Utkarsh Small Finance Bank Gold Loan Approval Process
- 5 FAQs on Utkarsh Small Finance Bank Gold Loan Approval Process