About Yes Bank Gold Loan
Yes Bank is one of the most renowned banks in India. It offers a low rate of interest and quick disbursal with minimal Documentation. Why let go of opportunities and dreams due to the financial crisis when you have the gold power with you. Idle Gold in your safe will not give you anything, but Yes Bank Gold Loan will provide you with a chance of fulfilling your dreams. Yes Bank offers Gold Loan at a low rate of interest. The process of getting a Gold Loan is speedy and secure.
Gold Loan is a loan against Gold. Gold is treated as a security. After proper verification of Documents and Gold, the Loan amount is disbursed. It requires minimal Documentation. So from now don’t think much and fulfil your dreams by applying for Yes Bank Gold Loan.
Why choose Yes Bank Gold Loan?
- Yes, the bank offers a very Low Rate of Interest to the customer.
- Bank provides the facility of quick disbursal to the customer.
- The bank offers fast disbursal on Yes Bank Gold Loan.
- Basic documentation and low paperwork.
- It charges low processing fees.
- Guarantor/collateral is not required.
Know More – Gold Loan Features and Benefits
Advantages of YES Bank Gold Loan
- A gold loan is a fast loan as compares to other loans individual get cash within a day
- The gold loan can be taken for education purpose
- It tends to help extend a business or working capital requirement
- To enhance agribusiness by purchasing apparatus for the water system and different needs
- At the point when a healing crisis strikes, a gold loan can be a friend in need.
- To get urgent money while going on a trip.
- Gives the feeling of utilising a possess advantage for fund your requirements
Yes Bank Gold Loan Eligibility
Gold Loan is a financial product provided by the Yes bank which caters to your needs of short term or long term funds. It is easy to avail commercial service provided by banks at low rates of interest and also requires minimal documentation for the same. Yes, the bank gives you the Loan amount within an hour of application as the valuation and approval process is quickly done, keeping in mind your urgency regarding the need for funds.
Major Eligibility criteria for availing the Yes Bank Gold Loan is:
- The applicant should be a permanent Indian citizen who is at least 18 years of age and not more than 70 years (In most cases).
- The applicant should be the rightful owner of the gold that he/she wishes to pledge with the bank.
- The Minimum weight of gold that can be pledged is 10 grams, and the applicant becomes ineligible for Gold Loan if he/she has less than 10 grams of gold.
- The Minimum purity of gold required to be eligible for a loan is 18 carats. Also, Gold coins issued by banks are accepted up to 50 grams (In most cases).
- 24 Carat Gold in any form, Gold bars, Gold biscuits, etc. are not recognised as valid forms of gold to be kept as security for the Yes Bank Gold Loan.
- A good Credit or CIBIL score is not required to apply for the Gold Loan as it is a fully secured financial service against your gold as collateral security.
Yes Bank Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Yes bank wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire Yes Bank Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures high security of your gold ornaments till the loan is closed.
Documents required for Applying for Yes Bank Gold Loan are :
A duly filled and signed Gold Loan application form shall be submitted along with the following documents:
- 2 latest passport-sized photographs
- Basic KYC documents:
Identity Proof (Only one is required): Aadhar Card, Pan Card, Passport, Voter ID, etc.
Residence Proof (Only one is required): Aadhar Card, Pan Card, Voter ID, Ration Card, Electricity or Water Bills in the name of the applicant, or Rental Agreement(In case you live in a rented house).
- Agricultural Land Proof and Income Statement of the applicant have required in the case the applicant wants the Yes Bank Gold Loan for Agricultural purposes.
- If you are an existing customer of the bank you may not be required to submit any documents as the bank will already have your verified details.
**Any other documents as requested by the bank shall be duly submitted.**
Yes Bank Gold Loan Interest Rate, Fees and Charges
- Yes bank offers a rate of interest of 11%
- Processing Fee charges in YES Bank are 1.5%
- Yes bank charges Prepayment at the rate 2% as well as maximum tenure 48 months.
- Loan sanctioned against gold is a minimum of Rs 25,000 and a maximum of 50 lakhs.
- The easiest way of applying for a gold loan in Yes Bank
- The applicant can easily apply online on the site dialabank.com by filling up the form of Gold Loan by giving some information and personal detail.
- After that, the Bank representative will get notified, and they contact the applicant.
- They will confirm some of the features and let you know if you are eligible for the Yes Bank Gold Loan or not.
- They will tell the applicant the rate of interest offers by Yes Bank Gold Loan services. The applicant needs to visit the bank with the gold against which he/she is taking a gold loan.
- At last, the amount will be disbursed, and the lender will provide you with different options to repay the amount, and you can choose according to your ability to repay.
Yes Bank Gold Loan Rate per Gram
The amount of Gold Loan that you get per gram of your gold is directly dependent on the purity of your gold and the current prevailing rates of that purity of gold in the market. The rate of gold changes daily in the market and therefore, the Yes Bank Gold Loan Rate per Gram also varies every day. Yes bank gives funding of up to 70% of the total market price of your gold keeping the remaining 30% as a security margin.
You will get ₹2,420 to ₹2,958 for a gram of gold depending on its purity and the market price for your Yes Bank Gold Loan.
**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**
Yes Bank Gold Loan Apply Online
Applying for the Yes Bank Gold Loan service is a hassle-free and straightforward process which can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with necessary information regarding yourself and the Gold Loan you wish to avail. You will then need to visit the branch with the required documents and your gold.
You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.
- Visit Dialabank’s digital platform, where you will have just to fill a form without any registration.
- Our Relationship Manager will contact you and assist you throughout the Gold Loan process and guide you in fulfilling your financial needs.
- You will get personalised service, giving you the option of comparing and taking the best deal according to your needs without any extra charges.
- With Dialabank, you can compare the different offers and schemes from different banks based on funding provided and the rate of interest charged for choosing the best loan deal for yourself.
Yes Bank Gold Loan EMI Calculator
How to Pay Your Yes Bank Gold Loan EMI?
Your Yes Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with Yes Bank, Standing Instruction is the best method of r repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the Yes Bank account you indicate.
- Electronic Clearing Service (ECS): This mode can be utilised if you have a non-Yes Bank account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-Yes Bank account at your closest Yes Bank Loan Center. A new arrangement of PDCs should be submitted on time. It will be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.
Gold Ornaments Accepted by YES 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 Yes Bank Gold Loan
The funds acquired by availing the Yes Bank Gold Loan service can be used for several purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, etc.
- For all your business needs, such as buying raw material, expansion of business, etc.
- You can also avail a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.
- Know More – Five mistakes to avoid while applying for a Gold Loan
FAQs About Yes Bank Gold Loan
Loan on gold is straightforward to understand. The Banks /NBFC provide you with funds against your gold ornament. The amount depends upon the gold weight.
Yes, it is essential to note that the Loan on Gold comes in the category of secured loans. Because in a gold loan, the applicant put their gold ornaments into the bank’s locker as security or as collateral.
If the borrower is unable to return the gold loan on time, then the bank is liable to sell his gold ornaments.
No, to avail the Gold loan you don’t need any co-applicant
Yes, a Gold loan is better than a personal loan because in Gold Loan banks/NBFC’s takes Gold ornament as well as a gold coin as collateral and in case of Personal Loan it is unsecured and hence carries higher interest than a gold loan.
Dialabank is the best platform to get a loan. Dialabank provides you hassle-free process as well as the lowest interest rate in the market as compared to others.
Yes, you have to pay the loan processing fee (non-refundable) as well as Valuation fee.
A gold loan is an excellent choice because:
- Minimal Documentation
- Disbursal in 30 minutes
- Flexible Loan Tenure
- Wide-ranging Repayment Options
- Prepayment option
- Negligible Processing Fees
You can avail the service of a gold loan in a few clicks.
- Fill in your expected details in the web-form on Dialabank.
- Now all you have to do is, wait; our relationship managers will get back to you within 30 minutes.
- We will suggest you the loan which meets your requirements, in your specific region.
- Submit the required documents with our representative, who will be in touch with you.
- Accept the loan amount in just 30 minutes.
Yes, a gold loan is far better than a personal loan. Reasons being:
- A gold loan does not require a CIBIL score or any proof of your income.
- Gold loans are less time-consuming and hustle free in comparison with Personal Loans.
- A gold loan is a secured loan and therefore, is the most opted Loan nation-wide. Gold Loan Interest Rate of Different Banks – Updated on 2019
Gold loans have various benefits, which are why it is the most opted loan in the country. Some of the benefits are listed below:
- Proof of your income is not needed loan.
- Disbursal in just 30 minutes
- CIBIL score is not required
- Less Documentation
- Maximum Funding
- It is a Secured Loan
- Instant Approval
- Best Gold Loan Providers
Yes Bank Gold Loan scheme provides loans for various uses against the gold kept as collateral security. You can get up to ₹2,420 to ₹2,958 per gram depending on the purity of your gold.
Yes bank provides Gold Loan to people aged 18-65 years at attractive interest rates depending on the amount to be sanctioned and the quality of your gold. Yes bank gives gold loans starting from Rs 25100 to a maximum of Rs 25 lacs with a tenure commencing between 6 to 36 months. Apply for a gold loan at Dialabank’s digital platform to compare and avail the best deals regarding Gold Loan and other financial services across India.
Yes Bank Gold Loan Interest Rate starts at 11.25% per annum and goes as high as 16.25% per annum depending on the loan amount sanctioned. They also charge a processing fee of 1% or a minimum of Rs 500.
You can pay your Gold Loan online by visiting the Transaction Zone on Yes Bank’s website where you can pay from your bank account directly.
Applying for Gold Loan is a simple process. All you need is your gold along with some basic documents, and you can quickly get a loan by visiting the nearest branch. You can also visit Dialabank’s digital portal and compare the gold loan options of different banks and financing companies and apply for the same.
For the renewal of your Yes Bank Gold Loan visit your loan branch and apply for renewal. The renewal process requires a reevaluation of your gold based on the current market rates.
Yes bank offers Gold Loans at attractive interest rates with minimal documentation. All you need is necessary identification, and address proofs and 2 passport sized photographs. Visit the branch with these documents and your gold and apply for a gold loan. Disbursal occurs within an hour of the approval of the loan. With Yes Bank, you don’t require a guarantor or co-borrower for successfully securing a loan.
Gold Loans are secured loans that can be availed by using your gold as a security with the bank. The Yes Bank gold loan is an instant solution for all your urgent monetary needs. The rate of interest starts at 11.25% per annum with a maximum loan tenure of 36 months.
Loans against gold are disbursed within an hour of the approval of the documents and the valuation of the gold. The process is quick and straightforward, with the requirement of only gold and minimal documents (Aadhar, Pan, 2 photographs). For getting the loan just need to visit the branch with your gold and documents. You can also apply to Dialabank’s digital platform to get the best offers from all the banks across the country.
You can call the customer care number for checking the status of your loan application, or you can also visit the branch and meet the loan officer.
Yes bank gives you flexible repayment options for closing your gold loan account. You can pay online through your debit cards or visit the branch with a cheque/ DD. Ornaments are released and returned to you once the due amount has been paid. Remember to collect your No Dues Certificate (NDC).
For the renewal of your Yes Bank Gold Loan, you need to visit the branch with all your loan documents. The gold will be taken out and revalued again at the current market prices. You may be asked to fill a renewal form, and a renewal fee may also be charged.
If someone defaults the Gold Loan repayment, the bank has full rights to sell the gold ornaments that were kept as security to recover the loan amount. The default is also reflected in your credit report and will make it difficult for you to avail a loan in the future.
Yes bank has over 1000 branches all over India that provide quick and hassle-free gold loans.
Table of Contents
- 1 About Yes Bank Gold Loan
- 2 Why choose Yes Bank Gold Loan?
- 3 Advantages of YES Bank Gold Loan
- 4 Yes Bank Gold Loan Eligibility
- 5 Yes Bank Gold Loan Documents Required
- 6 Yes Bank Gold Loan Interest Rate, Fees and Charges
- 7 Yes Bank Gold Loan Rate per Gram
- 8 Yes Bank Gold Loan Apply Online
- 9 Yes Bank Gold Loan EMI Calculator
- 10 How to Pay Your Yes Bank Gold Loan EMI?
- 11 Gold Ornaments Accepted by YES Bank
- 12 Uses of Yes Bank Gold Loan
- 13 FAQs About Yes Bank Gold Loan