Vananchal 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.

Vananchal Gramin Bank Gold Loan Approval Process

Vananchal Gramin Bank Gold Loan Features

Vananchal Gramin Bank Gold Loan is available for agricultural as well as non-agricultural uses. Vananchal Gramin Bank was amalgamatedVananchal Gramin Bank Gold Loan Approval Process with Jharkhand Rajya Gramin Bank on 1 April 2019 into Jharkhand Rajya Gramin Bank which is a Regional Rural Bank for the state of Jharkhand

Gold Loan is a secured loan that is offered by pledging your gold ornaments such as gold bangles, gold rings, gold anklets, and gold necklaces, etc. with the bank as collateral. After a proper evaluation of your gold is done by the bank, the loan amount is ascertained.

The various features of Vananchal Gramin Bank Gold Loan are:

  1. Low processing fee.
  2. Competitive interest rates.
  3. Loan to Gold value up to 75%.
  4. Minimal prepayment charges.
  5. Repayment tenure of 6 to 36 months.

Vananchal Gramin Bank Gold Loan Eligibility

Minimum and Maximum Age
21 Yrs – 65 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 proof 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.

Vananchal Gramin Bank Gold Loan Documents Required

List of Documents
Passport (Not expired)
Driving license (Not expired)
Voters’ ID Card
Aadhaar Card issued by UIDAI
PAN (Permanent Account Number) Card (along with any of the above-mentioned documents) or Form 60
One Passport Size Photograph
Agri Allied Occupation Documentation( in case of bullet repayment for agriculture customers)

Vananchal Gramin Bank Gold Loan Approval Process

  1. Visit the nearest branch of the bank.
  2. Fill out the application to apply for Gold Loan.
  3. Provide all necessary documents like KYC Documents, etc. to the bank.
  4. Take your gold to the bank for its evaluation.
  5. Evaluate and negotiate loan terms with the bank’s representative like loan amount, tenure, payment options, fees if any, etc.
  6. After due evaluation of your application, the loan will be granted to you.

You can also apply with Dialabank for a hassle-free process or simply call us at 9878981166.

FAQs on Vananchal Gramin Bank Gold Loan Approval Process

✅ What is the maximum sanction limit for a Gold Loan?

In a gold loan, the banks and financial institutions can sanction a credit limit of up to 75% of the market value of the gold mortgaged. The loan to value (LTV) ratio is set by the Reserve Bank of India.

✅ How can I get an instant Gold Loan?

You can get an instant Gold Loan with Dialabank for a hassle-free process. You can either visit our website to apply or call us at 9878981166.

✅ Can I calculate Gold Loan EMI online?

Yes, you can calculate your Gold Loan EMI online with Dialabank. Click here to calculate your EMI instantly.