Vijaya Bank Gold Loan Key Features – Apply Now
|Vijaya Bank Gold Loan Interest Rate||7.0% per annum|
|Vijaya Bank Gold Loan Rate Per Gram||Rs. 5,121|
Vijaya Bank Gold Loan Processing Fee
|0.85% of the Principal Loan Amount|
|Vijaya Bank Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
Vijaya Bank Gold Loan Prepayment Charges
Vijaya Bank Gold Loan Repayment Tenure
Up to 60 Months
Vijaya Bank Gold Loan Repayment Scheme
Bullet Payment Scheme, Overdraft Scheme
Each Feature Explained in Detail Below
Vijaya Bank Gold Loan Explanation
Vijaya Bank’s gold loan can be the easiest and safest way to finance your immediate needs at an attractive interest rate. With small documents and secure storage, Vijaya Bank’s gold loan is an effective way to get funding quickly. The money thus obtained from a gold loan can be used for marriage, education, business expansion and other similar purposes.
Vijaya Bank Comparision With Other Banks
|Particulars||Vijaya Bank||SBI||HDFC Bank|
|Interest Rate||7.00%||7.50% – 7.50%||9.90% – 17.55%|
|Processing Fees||Upto 0.85% of loan amount||0.50% of the loan amount||1.50% of the loan amount|
|Loan Tenure||3 months to 60 months||3 months to 36 months||3 months to 24 months|
|Loan Amount||Up to Rs. 1 Crore||₹ 20,000 to ₹ 20 Lakh||₹ 25,000 to ₹ 50 Lakh|
|Foreclosure Charges||Upto 0.05% of outstanding amount||Nil||Nil after 3 months|
|Lowest EMI Per Lakh||₹ 2,801 to ₹ 3,424||₹ 3,111 per lakh||₹ 4,610 per lakh|
Tips To Get Gold Loan From Vijaya Bank
- Vijaya Bank welcomes both hallmarked and non-hallmarked jewellery for a gold loan. However, you can get a very high gold loan per gram with remarkable jewelry, as it reduces the chances of a lower rating by the average. Also, some banks charge a lower fee for processing gold jewelry.
- Vijaya Bank fixes the price of 22 carat gold for pure gold. So, always try to borrow high quality jewelry as it will bring you the highest value of gold loans.
- For faster processing of gold loans, you can apply for online gold loan application services by Vijaya Bank.
Advantages Of Vijaya Bank Gold Loan
- No income and salary criteria: Gold loans do not require any documentation or validation of income or salary of the person. So even if you are unemployed and unsalaried, you can still avail of an Vijaya Bank Gold Loan. This is because you are pledging a valuable asset, i.e. gold, in return for the money. Can be provided in cases of bad credit history as well as a low-income level.
- Relatively Lower interest rates: Another advantage of taking a gold loan is that they are available at low-interest rates, say 7.0% annually in comparison to the personal loans interest rates of 15-26% per annum.
- You need to pay the interest only: You have the advantage to return only the interest amount throughout the total gold loan tenure. At the termination of the mandate, you can return the full rented amount in a one-shot.
- Total Convenience: The most convenient of all the loans is a Vijaya Bank Gold Loan. This is because in this all you have to do is pledge your gold with a bank or a private finance institute and the work is done. You can get a loan up to 80% or more of its market value immediately.
- Less processing time: No tedious and lengthy documentation is required in the case of Vijaya Bank Gold Loan. Hence it can be resorted to in times of urgent needs. Banks take a few hours in the processing of the gold loan whereas some NBFC’s state that they only take a few minutes for the same task.
- Foreclosure: Vijaya bank charges the borrower up to 0.50% of the outstanding principal debt in the event of a Gold Loan Foreclosure.
How Much Gold Loan Can I Get From Vijaya Bank Gold Loan?
Vijaya Bank Gold Loan Per Gram – Apr 20 2021
Updated - Gold Loan Per Gram Rate w.e.f Apr 20 2021
About Vijaya Bank Gold Loan
With its corporate office in Bangalore, Vijaya Bank is a public sector bank spread across the nation. Various delivery channels help the bank to provide various kinds of services and financial products to the customers.
A gigantic network of 4000 customer touch points, 2031 branches, and 2001 ATMs makes Vijaya Bank a huge financial supporter.
The government of India announced the merge of Bank of Baroda, Vijaya Bank, and Dena Bank on Sept 17, 2018, and made it India’s 3rd largest lender.
- Vijaya Bank Gold Loan Interest Rate Online is 7.0% per annum.
- Vijaya Bank Gold Loan Rate Per Gram is Rs.5121.
- Vijaya Bank Gold Loan Tenure is 60 months.
- Vijaya Bank Gold Loan processing fee is 0.85% of the Principal Loan Amount.
Vijaya Bank Gold Loan Eligibility
For short term and long term funds required, Vijaya Bank provides its financial product Gold Loan. With minimal documentation required for the process, these commercial services are provided by the bank at low-interest rates. You don’t have to wait for more than an hour for receiving your funds after the approval process ends.
Major Eligibility Criteria For Availing The Gold Loan Is:
|18-70 years of age|
|Minimum 18 Carats (10grams)|
Vijaya Bank Gold Loan Documents Required
Bank offers a product that allows the borrower to get the amount of loan against the Gold provided to the bank which eventually fulfills all the financial needs of the applicant. Gold provided by the applicant is kept safe and secured by the bank as a gage for the loan. Very less paperwork and swift process make Gold Loan the most suitable one.
Documents Required For Applying For Gold Loan Are :
A duly filled and signed Gold Loan application form shall be submitted along with the following documents:
|Photographs||2 Passport Size|
|Identity Proof||Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)|
|Residence Proof||Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)|
|Agricultural Land Proof||
Required only if the Loan is taken for Agricultural Purpose
**Any other documents as requested by the bank shall be duly provided.**
Vijaya Bank Gold Loan Interest Rate, Fees and Charges
Gold Loan is a secured type of loan with low-interest rates on credit. It also has lesser interest rates than personal or any other sort of loan. The interest rates are very dynamic in nature as time passes. Vijaya Bank Gold Loan offers a low rate of interest which are as follows:
Gold Loan usually comes with a low rate of interest. Being a secured loan is one of the reasons behind this. So Interest rates are lower in Gold loans than any other sort of loan available. As time passes, the interest rates also change and also vary from person to person. Turn towards The Vijaya Bank GoldLoan for the lowest interest rate.
|Vijaya Bank Gold Loan Interest Rate||
7.0% per annum
0.85% of the Principal Loan Amount
Vijaya Bank Gold Loan Apply Online
Get your Gold Loan approved from the soft cushion on your back in your home. Do the required process online and be a proud applicant of the Gold Loan. Visit the bank’s official website and update the required information of yours on the form and select the loan you wish from long list of loans available. Following this reach the nearest branch of the bank with the mentioned and needed documents. Provide the Gold against which you need the loan.
You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.
- Meet DialaBank on its official web address and fill the required form. You can also get Vijaya Bank Gold Loan details.
- DialaBank’s well-trained Relationship Manager will contact you very soon for further process guidance.
- Detailed and compared options will be presented to you for making the best Gold Loan deal for yourself with no add-on charges.
- Compare and gain knowledge about various options available for you and lead along with DialaBank for the best Gold Loan for you.
Vijaya Bank Gold Loan EMI Calculator
|Rate of Interest||6 months||1 Yr||2 Yrs||3 Yrs|
How To Pay Your Vijaya Bank Gold Loan EMI?
Your Vijaya Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): Existing record holder with Vijaya Bank can avail this exiting repayment method. Your Vijaya Bank account predefined by you will be debited automatically for the EMI at the end of the monthly cycle.
- Electronic Clearing Service (ECS): This method is for the customer with Non-Vijaya Bank accounts. They can use this method for the repayment and the EMI are charged accordingly at the end of the monthly cycle.
- Post-Dated Cheques (PDC): PDC is also an interesting and easy mode of repayment as you can submit post-dated cheques to the nearest Loan department of the Vijaya Bank. Make sure to provide new arrangements of PDC’s on time.
Gold Ornaments Accepted By Vijaya Bank
Gold jewellery such as Gold Bangles, Gold rings, Gold anklets, and Gold necklaces, all of these are accepted for availing a Gold Loan.
Quality: The quality of Gold should lie between 18 Carat to 22 Carat. Aby gold ornament which is 24 Carat, cannot be used for availing a gold loan.
Uses Of Vijaya Bank Gold Loan
The funds acquired by availing the Vijaya Bank Gold Loan service can be used for several purposes such as:
- Can use it on any personal expense such as travel, wedding etc.
- You can invest it in your own business by buying raw materials etc.
- Gold loans for agricultural purposes are available with very low-interest rates.
Vijaya Bank Agricultural Jewel Loan Scheme
|Scheme||Vijaya Bank Agricultural Jewel Loan Scheme|
|Interest Rate||Starting from 7% (depends on the sum of the loan|
|Least amount of Loan||Depends on the value of jewel which is being kept as security|
|Loan period||Adjustment of advance sum inside 2 months from the date of reap of yields|
Benefits Of Vijaya Bank Agricultural Jewel Loan Scheme
- There is no processing fee is applicable up to ₹ 25,000.
- 0.30% of the loan amount, Minimum of ₹ 300 charge is applicable to the amount ranging from above ₹ 25,000 – less than ₹ 5 lakh.
- 0.28% of the credit sum, subject to at least Rs.1,500 is applicable to the amount more than Rs.5 lakh however under Rs.1 crore.
Vijaya Bank Gold Loan Overdraft Scheme
Vijaya Bank Offers an Overdraft Scheme. With this, you are provided a loan amount as an overdraft facility. It works like a Credit Card, where you can spend your Gold Loan Amount as you want anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Vijaya Bank Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
Vijaya Bank Gold Loan Highlights
|Age||18 – 70 years|
|Minimum Loan Amount||Rs. 1000|
|Maximum Loan Amount||Rs. 1 Crore|
|Vijaya Bank Gold Loan Interest Rate||7.00% p.a. onwards|
|Loan Tenure||From 3 months to 60 months|
|Gold Items accepted||Jewellery and gold coins sold by banks|
|Vijaya Bank Gold Loan Processing Charges||0.85% of the loan amount|
How Does Vijaya Bank Gold Loan Work, Here’s An Example
The suitability of the loan is determined on the basis of the purity of gold, LTV and the weight of gold. Suppose Mr A and his two friends Mr B and Mr C have different gold values for different purity. Mr A has 50 grams of gold per 22 carat purity. Mr B has 60 grams of gold in 20 carats of purity and Mr C has 70 grams of gold in purity or 22 carats. They approached the Vijaya Bank to get a gold loan. The price used to calculate the suitability of their gold loan according to the high 85% LTV will vary with the purity of the gold and therefore, will lead to the validity of the gold loan.
FAQs About Vijaya Bank Gold Loan
✅ What is Vijaya Bank Gold Loan?
Vijaya Bank gold loan is a very simple scheme that provides you with funds against your gold ornament. The amount depends upon the gold weight and its market price. Gold loans offer repayment flexibility and quick disbursal.
✅ How Can I Get Gold Loan From Vijaya Bank?
Getting a Vijaya Bank gold loan through Dialabank is extremely easy. All you have to do is visit the Dialabank website and click on the loan option. Fill a form and click on apply now. Our relationship manager will give you a call. You can call us on the number 9878981144 in case of any queries.
✅How much Gold Loan Can I get per gram from Vijaya Bank?
Vijaya Bank Gold Loan Rate Per Gram is Rs.5,121 currently. This depends on the prices of gold. You can avail of a gold loan of an amount up to 70% of the ornaments you gave as collateral.
✅ How Does Vijaya Bank Gold Loan work?
Vijaya Bank Gold Loan is an easy loan to avail of. You have to fill up some forms and give ornaments as collateral, a minimum of 10 grams. These ornaments will be valued by the bank and a loan amount will be sanctioned to you.
✅ What is the Gold Loan interest rate in Vijaya Bank?
Vijaya Bank Gold Loan Rate is 7.0% per annum. You can avail of a loan at the lowest interest rates if you have a good CIBIL score and a stable income because this makes you a trustworthy borrower.
✅ How to check gold loan status in Vijaya Bank?
To track the status of your gold loan in Vijaya Bank, all you have to do is provide the bank with your application details either online or physically in the bank branch.
✅ How to calculate gold loan interest in the Vijaya Bank?
You can calculate your interest in Vijay Bank by subtracting the loan principal from the final amount. You can also calculate your EMIs using our EMI calculator.
✅What is the maximum gold loan amount I can avail of on a gold loan from Vijaya Bank?
Vijaya Bank allows you to avail of a loan of amounts from Rs. 10000 to Rs. 1 crore. This amount depends on the jewelry you give the bank as collateral.
✅ What is the loan tenure of the Vijaya Bank gold loan?
The loan tenure of the Vijaya Bank gold loan extends from 6 months to 12 months. You can choose your tenure. You can also renew your gold loan when this tenure ends. All you have to do is fill a form and pay a pre-decided fee.
✅How much processing fee applies to the Vijaya Bank Gold loan?
The Bank also charges a meager fee of 0.85% of your loan amount to process your loan, and sanction it.
✅ What are the charges for pre-payment in the Vijaya Bank gold loan?
Prepayment happens when you pay a part of your outstanding loan amount before the tenure ends. The prepayment charges range from 0 to 2% of the loan amount in Vijaya Bank.
✅How to renew Vijaya Bank Gold Loan online?
To renew your Vijaya Bank Gold Loan online, you can visit the nearby branch and fill up a form, or do so online. After application, your gold will be released and valued again. Your loan will be renewed based on the new value of gold.
✅ How to pay Vijaya Bank Gold loan interest online?
You can pay the Vijaya Bank Gold Loan interest online using the net-banking facility of the Bank. However, you will have to visit the Bank and show the receipt to the executive to receive your NDC.
✅What if I can’t pay the interest on the Vijaya Bank Gold loan for 3 months?
In case you fail to pay EMIs on time, you will be given written warnings by the bank. If you still don’t start paying, you will be served a legal notice. The bank will be liable to sell off your jewelry to recover its debt.
✅How can I apply for the EMI moratorium on the Vijaya Bank Gold loan?
A moratorium is a predefined period wherein you don’t have to make monthly repayments. You can apply for this either through the online portal or by visiting the bank branch and providing your application details. This can be done only until 5 days before your repayment date.
✅How to pay the Vijaya Bank Gold loan through credit card?
RBI doesn’t allow customers to repay the gold loan using a credit card. However, you can repay using a debit card, online transactions, demand drafts, cheques, or cash. You can also repay your gold loan using Paytm.
✅ What is the Vijaya Bank Gold Loan customer care number?
For contacting the Vijaya Bank Gold loan customer care just dial 9878981144.
✅ What is the Vijaya Bank Gold Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the Vijaya Bank Gold loan account.
- Pay the pre-closure charges as per Vijaya Bank Gold Loan.
✅ What is the Vijaya Bank Gold Loan preclosure charge?
Up to 2% preclosure charge before 3 months, after that 0.50%.
✅ What is the Vijaya Bank Gold Loan overdraft scheme?
For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at Vijaya bank is provided, it gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary. You do not need to visit bank branches and go through a boring process. Just log in to the Vijaya Bank online banking portal and from there you can fill out a simple form and get an overdraft under your name.
✅ What is the Vijaya Bank Gold Loan maximum tenure?
The maximum tenure of the Vijaya Bank Gold loan is 60 months.
✅ What is the minimum gold loan tenure of Vijaya Bank Gold Loan?
The minimum tenure of Vijaya Bank Gold Loan is 12 months.
✅ What are the foreclosure charges for Vijaya Bank Gold Loan?
Vijaya bank charges the borrower up to 0.50% of the outstanding principal debt in the event of a Gold Loan Foreclosure.
News about Vijaya Bank Gold Loan
Table of Contents
- 1 Vijaya Bank Gold Loan Key Features – Apply Now
- 2 Vijaya Bank Gold Loan Explanation
- 3 Tips To Get Gold Loan From Vijaya Bank
- 4 Advantages Of Vijaya Bank Gold Loan
- 5 How Much Gold Loan Can I Get From Vijaya Bank Gold Loan?
- 6 About Vijaya Bank Gold Loan
- 7 Vijaya Bank Gold Loan Eligibility
- 8 Vijaya Bank Gold Loan Documents Required
- 9 Vijaya Bank Gold Loan Interest Rate, Fees and Charges
- 10 Vijaya Bank Gold Loan Apply Online
- 11 Vijaya Bank Gold Loan EMI Calculator
- 12 How To Pay Your Vijaya Bank Gold Loan EMI?
- 13 Gold Ornaments Accepted By Vijaya Bank
- 14 Uses Of Vijaya Bank Gold Loan
- 15 Vijaya Bank Agricultural Jewel Loan Scheme
- 16 Benefits Of Vijaya Bank Agricultural Jewel Loan Scheme
- 17 Vijaya Bank Gold Loan Highlights