Catholic Syrian Bank Agriculture Gold Loan

Catholic Syrian Bank Agriculture Gold Loan Features & Benefits

CSB Bank Limited, originally Catholic Syrian Bank Limited, is a private-sector Indian bank headquartered in Thrissur, Kerala. The bank operates a nationwide network of approximately 450 locations and 319 ATMs.

CSB was established on November 26, 1920, long before India’s independence, and began operations on January 1, 1921, with a paid-up capital of 45,270 rupees and an authorised capital of 5 lakhs.

Catholic Syrian Bank Agriculture Gold Loan Calculator

The Catholic Syrian Bank Agriculture Gold Loan allows farmers to get cash in exchange for insured gold, which they may use to help with agricultural planting and harvesting. 

However, it’s also critical to understand the loan’s terms, which can be done with the help of an online EMI calculator, which shows the monthly EMI charges for the required amount. Some of the factors that determine EMI estimations are as follows:

• The value of the jewellery you may put up as collateral with the bank determines the amount of a gold loan you may be qualified for. The amount of a gem loan is usually determined by the weight of gold.
• This changes depending on the gold purity and the amount of the loan, which is calculated using a pre-determined LTV ratio. On higher sums of money, banks provide lower interest rates. The Catholic Syrian Bank offers loans ranging from Rs. 5,000 to Rs. 20 lakh.
• When consumers create accounts with Catholic Syrian Bank, they may take advantage of attractive rates, incentives, and fees. Customers of the Catholic Syrian Bank who have previously paid their gold loans on time are eligible for low-interest loans.
• Shorter-term gold loans have higher interest rates, whereas longer-term gold loans have lower interest rates. The Catholic Syrian Bank offers gold loans for six to twelve months. For gold jewellery, the Reserve Bank of India has set a maximum loan-to-value (LTV) ratio of 75 per cent.
• On the other hand, the Catholic Syrian Bank offers loans with lower LTVs. The interest rate for agriculture gold loans with a lower LTV will be cheaper than those with a higher LTV. Based on the net weight of gold in your jewellery, the Catholic Syrian Bank provides a maximum LTV of 75%. One of the key lending criteria of the Catholic Syrian Bank is gold loans for agriculture.

Catholic Syrian Bank Agriculture Gold Loan Eligibility

There are certain requirements that are required to be fulfilled to avail a agriculture gold loan:

• The applicant should have attained at least 18 years of age
• The individual should have his own gold ornaments or articles that can be pledged
• The gold to be pledged should be 18 carats or above
• The applicant should have a decent CIBIL score

Documents Required for Catholic Syrian Bank Agriculture Gold Loan

Catholic Syrian Bank Agriculture Gold Loan Rate Per Gram by Gold Purity

Gold provided to the loan provider against the amount is also a consideration for him to evaluate the loan. In India, most of the loan providers are institutional in nature, and they are banks and NBFCs that provides loans and have a large number of employees to undertake different segment of the loan provision procedure.

Banks and financiers set their own conditions for the quality of gold they would accept as collateral against the loan. The common stigma in this regards is that backs at least require 18-carat purity gold for collateral.

The above table shows the method by which Banks will calculate your per gram gold loan for gold of varying purity.

• Gold loan per gram offer for 22-carat jewelry will be between ₹ 4,620 to ₹ 4,956
• Gold loan per gram offer for 20-carat jewelry will be between ₹ 3,795 to ₹ 4,178
• Gold loan per gram offer for 18-carat jewelry will be between ₹ 3,460 to ₹ 3,784

Catholic Syrian Bank Agriculture Gold Loan Interest Rates Per Gram

Gold loan rates as per the weight of the gold offered under the Catholic Syrian Bank Agriculture Gold Loan are as under:

Historical Gold Loan Rates Per Gram

Because of India’s imperial heritage and abundance of natural resources, our soil can sustain a wide variety of plants and flowers. In different sections of the nation, numerous geographical conditions influence the development and long-term survival of various crops and plants.

Despite the fact that farming is the country’s most common activity, the bulk of it is done for profit.

Using current methods, commercial farming is not practised on a big enough scale in the country. The market provides a variety of agriculture-specific gold loans, such as the Catholic Syrian Bank Agriculture Gold Loan, to address this issue.

Major Banks Agriculture Gold Loan Per Gram Rate Comparison 

Tips to Get The Highest Agriculture Gold Loan Amount from Catholic Syrian Bank

Any farmer may acquire an agriculture gold loan from one of the many lenders on the market, but applicants must meet the following criteria to receive the best deal and avoid fraud and other financial problems:

• Since a gold loan is secured, the loan amount is determined by the value of the gold you put up as security. Banks and non-bank financial organisations (NBFCs) cannot lend more than 75% of the value of gold, according to the Reserve Bank of India.
• These loans are typically awarded within a few hours of receiving the loan application since they need minimal paperwork. As a consequence, a gold loan may be a viable option for coping with financial difficulties.
• Lenders will demand processing fees and expenditures once you’ve completed your gold loan application. It normally varies from 0% to 2% of the overall loan amount. A one-time fee may be charged by some lenders. This expense should be researched before filing your loan application since it may be taken into account if you are looking for a large-ticket loan.
• Gold loans are short-term loans with periods ranging from seven to three years and repayment options ranging from seven to three years. In addition to the usual EMI repayment option, borrowers can choose to return the whole interest amount now and the principal component later at the end of the loan period.
• The interest rate on a gold loan is determined by the lender’s risk assessment, which can range from 7% to 12% each year. The interest rate on gold loans is determined by the loan-to-value (LTV) ratio, loan period, loan amount, and other variables.