Uttarakhand Gramin Bank Gold Loan Approval Process


I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Uttarakhand Gramin Bank Gold Loan Approval Process

Uttarakhand Gramin Bank Gold Loan Features

Uttarakhand Gramin Bank Gold Loan Approval Process

Gold is one of the most popular loans nowadays since it is easier to obtain than a personal loan. Uttarakhand Gramin Bank Gold Loan Approval Process is considered one of the most transparent ones among banking institutions.

The reason for this is that when a gold loan is a secured loan in which you must pledge your gold as collateral, many financial institutions are willing to grant it. The Uttarakhand Gramin Bank Gold Loan Approval Process is simple and quick. They give you low-interest loans secured by your gold.

You can visit Dialabank to get more information about gold loans.

Features of Gold Loan:

  • Interest rates are reasonable, and processing fees are negligible.
  • There is very little documentation.
  • Charges for loan foreclosure are minimal or non-existent.
  • Repayment terms that are flexible.
  • LTV ratio is high.
  • Various loan payback options.

Uttarakhand Gramin 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
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.

Uttarakhand Gramin 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

Uttarakhand Gramin Bank Gold Loan Approval Process

The following are some basic procedures in the approval of a gold loan:

  • Visit the Uttarakhand Gramin Bank branch closest to you.
  • Fill out the bank’s application and submit it along with all of the relevant documents to get your loan approved.
  • Bring your gold to the bank for the appraisal; the bank will determine the loan amount following the appraisal.
  • Examine the loan’s common terms, such as tenure and interest rate, with the bank’s representative.
  • All of the terms will be finalized by the bank, and your application will be reviewed for a period of time.
  • Following approval, the bank will assist you with the rest of the process and disbursement of the loan funds.

FAQs on Uttarakhand Gramin Bank Gold Loan Approval Process

What exactly is a gold loan?

A gold loan, sometimes known as a “Loan Against Gold,” is a secured loan that a person can get by pledging their gold jewellery as collateral to the lender. A gold loan, unlike other secured loans such as an automobile or home loan, can be used for any purpose.

What is the formula for calculating the interest rate on a Gold Loan?

The interest rate on a gold loan is determined by a number of criteria, including the loan amount, loan tenure, gold grade, relationship with the lending bank, and loan to value ratio. The interest rate is calculated differently by different banks.

What is the maximum amount of Gold Loan I can get per gram?

Banks offer gold loans ranging from 3,506 to 4,621 per gram of gold, depending on the quality of your gold.