Central Bank of India Gold Loan | Best Gold Loan Schemes

Central Bank Of India Gold Loan Key Features – Apply Now

Central Bank of India Gold Loan Interest Rate	Starting 7.25% per annum
Central Bank of India Gold Loan Rate Per Gram	Rate Per Gram Today is ₹ 3,800 to ₹ 4,350
Central Bank of India Gold Requirement	Minimum 18 Carat
Central Bank of India Gold Loan Processing Fee	1% of the Principal Loan Amount
Central Bank of India Minimum Loan Amount	90% LTV on Your Gold Market Price
Central Bank of India Maximum Loan Amount	Up to Rs. 1 Crore (With Income Proof)
Central Bank of India Prepayment Charges	2%+GST (Within 3 Months), 0 (After 3 months)
Central Bank of India Repayment Tenure	6 Months to 12 Months
Central Bank of India Gold Loan Schemes	Bullet Payment Scheme, EMI Scheme

Central Bank of India issues a Gold Loan per gram rate of ₹ 3,800 to ₹ 4,350 in line with the current gold rate. The best Central Bank of India Gold Loan Rate per gram is ₹ 4,129 for 22 Carat gold, measured at a maximum 75% loan to value, and the average gold price for the last one month for 22-carat is ₹ 4,129.

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Central Bank Of India Gold Loan Explanation

Gold Loans are loans availed by pledging your gold ornaments with a bank. Central Bank of India gold loan can be taken to meet urgent personal expenses like children’s education, marriage, and other financial emergencies in the family and for business purposes. The gold mortgaged acts as a security to the loan. Taking a loan from Central Bank of India has the following benefits:

Central Bank of India offers gold loans for a long tenure of up to 36 months, which allows you to repay the loan in EMIs of low amounts.

The bank does not charge any foreclosure fees on its Gold loan products, thus ensuring that the customers have full flexibility in managing their loan repayments.
You can earn reward points if you take a loan from the Central Bank of India. These reward points are redeemable in various online transactions.

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Comparison of Central Bank Of India Loan with Other Banks

Central Bank of India offers gold loans at affordable interest rates. However, you must analyze multiple banks and their offers before applying for a jewellery loan.

Particulars	Central Bank of India	SBI	HDFC Bank
Interest Rate	7.25% per annum	7.25% per annum	9.90% – 17.55%
Processing Fees	Up to 1% of the loan amount, minimum Rs. 750	0.50% of the loan amount, minimum Rs. 500	1.50% of the loan amount
Loan Tenure	3 months to 12 months	3 months to 36 months	3 months to 24 months
Loan Amount	₹ 10,000 to ₹ 10 Lakh	₹ 20,000 to ₹ 20 Lakh	₹ 25,000 to ₹ 50 Lakh
Foreclosure Charges	Up to 1% of the outstanding amount	Nil	Nil after 3 months
Repayment Options	Y	Y	Y
Lowest EMI Per Lakh	₹ 8,792 per lakh	₹ 3,111 per lakh	₹ 4,610 per lakh

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Tips To getting Best Gold Loan Amount Per Gram from Central Bank Of India

Central Bank of India accepts both hallmarked and non-hallmarked jewellery for getting a gold loan. However, you can get the highest Gold Loan Per Gram for hallmark jewellery, as it reduces the chances of under-valuation by the valuer. Also, some banks charge a lower processing fee on hallmarked gold jewellery.
Corporation Bank adjusts the price of 22-carat gold for the purity of gold. Hence, always try to borrow against higher purity jewellery as it will fetch you the highest amount for a gold loan.
Central Bank of India will calculate the net weight of jewellery to calculate the amount of loan against the gold you can get. Always, try to choose jewellery that has minimum gems and stones. Most of the banks will reduce the weight of gems and stones from the total weight of the jewellery. The Central Bank of India will rely on the report of its gold valuer to calculate the net weight. Higher the weight of gems and stones in jewellery, lower the net weight and value of jewellery that results in a lower amount of jewel loan you can get Further, Central Bank will not accept diamond jewellery if the gold used is of less than 18-carat purity. Most of the diamond jewellery is made in 16 carats to 18-carat gold and hence, will result in a very low gold loan per gram.
Always try to get the maximum LTV on the value of gold. Central Bank is allowed by RBI to charge a maximum LTV of up to 75% to calculate the amount of gold loan you are eligible for.

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Advantages Of Central Bank Of India Gold Loan

There are some features of the gold loan:

Fast Process: First of all, the approval and disbursal process for the Central Bank of India Gold Loan is speedy and secure. The loan gets approved within an hour.
Easy Documentation: Next, the documentation process for availing of the Central Bank of India Gold Loan is very easy. Very basic documents are required for availing of a gold loan.
Transparency: Central Bank of India provides full transparency to its customers, and there is no kind of hidden charges.
Loan Amount: The bank’s minimum amount of loan to its customer is Rs. 50000. It can be less than Rs—50000 for customers based in rural areas.
Safety of your Gold: One of the most important things to consider and note is that the bank is liable entirely for the security of your gold ornaments. Therefore, your Gold is kept in fireproof security inside the branch.
Loan Tenure: The tenure of the Central Bank of India Gold Loan can be from 1 year to 3 years. Hence, you can choose the duration of the loan according to your choice.
Benefits for Farmers: Central Bank of India provides some special gold loan offers for agricultural purposes. The bank offers a slightly lower Gold loan interest rate for a Gold loan for agricultural use.
No Debt Burden: There can be a situation when the loan taker cannot repay the loan. In such a case since the Gold has already been pledged and is used for recovering the outstanding amount, the loan taker does not reel under any kind of debt burden.
No Income requirements: There are no minimum income requirements for availing of the Central Bank of India Gold Loan, and therefore anyone can apply and avail of this loan.
Foreclosure charges: 0.50% of the Loan Amount is taken as foreclosure charges.

You can call on 9878981144 to Apply for the Central Bank of India Gold Loan and get Quick Approval on your Loan Application.

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How Many Loans Can I Get Through The Central Bank Of India Gold Loan?

As per the latest gold prices, the Central Bank of India Gold Loan Rate Per Gram is ₹ 3,800 to ₹ 4,350.

Central Bank Of India Gold Loan Per Gram – Nov 07 2024

₹ 3,800 to ₹ 4,350

About Central Bank Of India Gold Loan

Life is full of uncertainties. Thus you may need money to cope up with financial obstacles in your life. In this case, you can get a Gold Loan to fight the financial crisis. A gold loan is a secured loan. Therefore, people with low CIBIL scores can also easily avail themselves of this service. Central Bank of India Gold Loan is one of the best gold loans in India.

The Central Bank of India was set up in 1911. Gold Loan from the Central Bank of India comes with a lot of benefits and special features. Thus, make use of your gold in your bad time, and overcome the financial problems.
Though there are many financial banking and non-banking companies that provide you with a gold loan, the Central Bank of India Gold Loan is considered the best. This Bank is one of the most reliable and known for its brilliant financial services.

Central Bank of India Gold Loan Interest Rate is 7.25% per annum.
Central Bank of India Gold Loan Rate Per Gram is ₹ 3,800 to ₹ 4,350.
Central Bank of India Gold Loan Tenure is 12 Months.
Central Bank of India Gold Loan processing fee is 0.5% or Rs.1000 (the higher amount).

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Central Bank Of India Gold Loan Eligibility

Gold Loan is commercial produce presented by the bank that feeds your short-term or long-duration reserves requirements. Therefore, it is simple to avail of financial assistance given by the Central Bank of India at moderate interest rates and needs insignificant documentation for this purpose.
Central Bank of India gives you the Loan sum in an hour of application as the appraisal and endorsement method is quickly done, holding in mind your importance concerning the demand for funds.

Major Eligibility criteria for availing of the Central Bank of India Gold Loan is:

Age	18-70 years of age
Nationality	Indian
Employment Status	Salaried, Self-Employed
Gold Quality	Minimum 18 Carats

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Central Bank Of India Gold Loan at Home

Gold Loan at Home is a cash-on-the-spot or doorstep loan service that allows you to borrow money from the convenience of your own home. The service is fast, flexible, and cost-effective and interest rates are also low. You can use the gold loan calculator to determine the value of your gold or the loan amount before completing a loan request. Obtaining a Gold Loan at home is an easy and quick process that can be done in a matter of minutes.

Within 30 minutes, one of our employees will call you and arrive at your home. When all e-documentation and gold identification are completed at your residence, the appropriate gold loan amount will be sent directly to your bank account.

The benefits of getting a gold loan at your doorsteps are:

Access To Your Loan Account 24 X 7
Diverse Range of Gold Loan Schemes
You can get free insurance for your Gold
There are no hidden fees.
You will get the maximum value of your Gold
You can avail your Gold Loan in just 1 visit

Central Bank Of India Gold Loan Documents Required

Loan On Gold is loan merchandise advanced to the borrowers by the Central Bank of India, wherein reserves are equipped to accomplish the candidate’s financial requirements.
The gold embellishments of the candidate are kept as collateral by the bank in trade for the funds. The whole Central Bank of India Gold Loan method is hassle-free and straightforward to get with minimum documentation. The bank guarantees the excellent protection of your gold adornments until the loan gets settled.

Documents required for Applying for the Central Bank of India 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

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Central Bank Of India Gold Loan Interest Rate, Fees and Charges

A Gold Loan can fulfil all your essential short duration and long duration monetary obligations. The rate of interest that will be imposed depends on the complete loan sum and the state of the Gold you are to grasp as security with the bank. The Interest rate on a gold loan granted by the Central Bank of India is more economical in contrast to different loans because it is a secured loan.

The Gold Loan interest rates in the Central Bank of India starts at 7.00% per annum.

Central Bank of India Gold Loan Interest Rate	7.25% per annum
Processing Fee	0.5% or ₹1000 whichever is higher
Prepayment/Foreclosure Charges	0-1%

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Central Bank Of India Gold Loan Apply Online

Demanding for the Gold Loan help is a hassle-free and outspoken method that can be performed from your house’s convenience. You can do it online by ministering to the bank’s official website and presenting a form with necessary information about yourself and the Gold Loan you need to avail. You will then require to visit the branch with the demanded 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 personalized 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.

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Central Bank Of India Gold Loan EMI Calculator

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How To Pay Your Central Bank Of India Gold Loan EMI?

Your Central Bank of India gold advance can be reimbursed in the following three different ways.

Standing Instruction (SI): If the person is a current account owner with the Central Bank of India, Standing Instruction is the most reliable mode of repayment. Your EMI sum will be accredited automatically near the end of the month to month cycle from the Central Bank of India account you register.
Electronic Clearing Service (ECS): This mode can be utilized if you have a non-Central Bank of India 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 grant post-dated EMI money from a non-Central Bank of India account at your nearest Central Bank of India Loan office. A new version of PDCs should be presented on the course. It will be excellent if you note Post Dated Checks will be collected in non-ECS areas as it were.

Central Bank Of India Gold Loan Contact Number

Central Bank of India offers loans against Gold at the lowest Interest rate. Being one of the significant gold loan suppliers, the Central Bank of India understands the necessities of the clients and disburses the loan amount in 60 minutes. Moreover, the Gold promised is securely secured in the bank locker, and you don’t need to stress over its safety.

You can call on 9878981144 to Apply for the Central Bank of India Gold Loan and get Quick Approval on your Loan Application.

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Gold Ornaments Accepted By Central Bank Of India

Jewellery of gold, such as Gold Bangles, Gold bracelets, Gold anklets, and Gold accessories, are all admitted for availing of a Gold Loan.

Quality: The quality of Gold should lie between 18 Carat to 22 Carat. Any gold ornament which is 24 Carat, cannot be used for availing a gold loan.

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Uses Of Central Bank Of India Gold Loan

The funds acquired by availing the Central Bank of India Gold Loan service can be used for several purposes such as:

To bankroll any special payments such as matrimony, riding, instalment of more expensive tuition fees, etc.
For all your enterprise demands, such as purchasing raw substance, development of business, etc.
You can also avail of a Central Bank of India Gold Loan for horticultural persistence. The bank allows lower rates of interest for Gold Loans that are used for farming or related projects.

Central Bank of India Agricultural Jewel Loan Scheme

Scheme	Agricultural Jewel Loan Scheme
Interest Rate	Starting at 7.25% per annum
Least amount of Loan	Depends on the value of a jewel
Loan period	Adjustment of advance sum inside 2 months from the date of reap of yields

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Benefits of Central Bank of India Agricultural Jewel Loan Scheme

The Bank does not take a huge processing fee
For 0.30% of the loan amount, a Minimum of ₹ 300 is charged ranging from more than ₹25,000 – less than ₹ 5 lakh
0.28% of the credit sum, subject to at least Rs.1,500 applicable on more than Rs.5 lakh and less than Rs.1 crore

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Central Bank Of India Gold Loan Overdraft Scheme

The loan amount is provided as an overdraft facility. It works as a Credit Card, where the Gold Loan Amount can be spent as per the choice of the borrower. The overall loan amount has a Credit/Loan Limit. The Gold Loan Overdraft facility, the interest is charged only on the amount that is withdrawn/utilize.

Central Bank Of India Gold Loan Highlights

Age	18-75 years
Minimum Loan Amount	Rs. 25,001
Maximum Loan Amount	Rs. 25 Lakh
Central Bank of India Gold Loan Interest Rate	7.25% per annum onwards
Loan Tenure	From 3 months up to 36 months
Gold Items accepted	Jewellery and gold coins sold by banks
Central Bank of India Gold Loan Processing Charges	0.23% of the loan amount

How Does The Central Bank Of India Gold Loan Work, Here’s An Example

The loan amount eligibility is decided on the basis of purity of gold, LTV, and weight of gold. For example, suppose Mr A and his two friends Mr B and Mr C own different amounts of gold with varying purity. Mr A has 50 grams of gold with a purity of 22 carats. Mr B has 60 grams of gold with a purity of 20 carats and Mr C has 70 grams of gold with purity or 22 carats. They approach Corporation Bank to avail themselves of a gold loan. The price applied to calculate their gold loan amount eligibility based on a maximum LTV of 85% will vary by the purity of gold. Hence, it will result in varying gold loan eligibility.

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FAQs About Central Bank Of India Gold Loan

✅ What is the Central Bank of India Gold Loan?

Central Bank of India Gold Loan is your ideal credit option when urgent lump sum money is needed. The bank provides loans starting from ₹10000 to ₹25 lacs for a maximum tenure of 12 months at attractive interest rates.

✅ How Can I Get Gold Loan From the Central Bank of India?

It hit the most imminent office of the Central Bank of India and received a Gold Loan in a few ampere-hours. You can also apply for your Gold Loan online with Dialabank and avail the most suitable proposals and opportunities to suit your necessities. For any doubts, you may communicate with us on the number 9878981144.

✅ How much Gold Loan Can I get per gram from the Central Bank of India?

Central Bank of India Gold Loan Rate Per Gram is ₹ 3,800 to ₹ 4,350. And it varies because of the purity of the gold, Tenure of the loan, and Interest rate.

✅ How Does Central Bank of India Gold Loan work?

Gold Loan can fulfil all your urgent financial needs. To take a Gold Loan from the Central Bank of India visit the nearest branch with your Gold. The loan disbursal occurs within hours, and your pledged Gold is safely kept in the bank locker/vault.

✅ What is the Gold Loan interest rate in the Central Bank of India?

The central bank of India’s Interest Rate on Gold loans is 7.25% per annum. This interest rate may increase if you have a poor credit history or unstable income.

✅ How to check gold loan status in the Central Bank of India?

You can check for your Gold Loan status online at the Central Bank of India’s website using your loan reference number. You can also visit your branch or contact the customer care number.

✅ How to calculate gold loan interest in the Central Bank of India?

Interest is the difference between the principal that you applied for and the amount you have to pay. It is a part of your EMIs.

✅ What is the maximum gold loan amount I can avail of on a gold loan from the Central Bank of India?

The Central Bank of India allows you to avail of a loan amount of Rs. 1 crore if you have income proof. In addition, you can avail of an amount of up to 70% of the value of your ornaments.

✅ What is the loan tenure of the Central Bank of India gold loan?

The gold loan tenure in the Central Bank ranges from 6 months to 12 months. You can choose your tenure so make sure you choose a tenure that facilitates your repayment.

✅ How much processing fee is applicable to the Central Bank of India Gold loan?

To enable the bank to process and sanction your gold loan, you have to pay a meagre fee of about 0.5% of your loan amount or Rs. 1000, whichever is higher.

✅ What are the charges for pre-payment in the Central Bank of India gold loan?

For prepayment or foreclosure in the Central Bank of India, you have to pay a fee that amounts up to 1% of the outstanding gold loan amount.

✅ How to renew the Central bank of India Gold Loan online?

You can check for your Gold Loan status online at the Central Bank of India’s website using your loan reference number. You can also visit your branch or contact the customer care number.

✅ How to pay Central Bank of India Gold loan interest online?

You can quickly pay your Gold Loan interest online with the Central Bank of India through automatic deduction from your account in the form of EMIs. For further information, you shall contact the customer care number of the bank.

✅ What if I can’t pay the interest on the Central Bank of India Gold loan for 3 months?

Central Bank of India will charge you a penalty fee if you default on your Gold Loan. On continuous defaults, the bank will have the legal rights to sell your Gold in an auction and recover the amount. You might also be included in the CIBIL defaulter’s list, preventing you from availing of loans in the near future.

✅ How can I apply for the EMI moratorium on the Central Bank of India Gold loan?

If you don’t want to start repaying your loan right away, you can apply for a moratorium. You can do so through the online portal of the Central Bank or by visiting its branch. However, make sure you do it at least 5 days before the date of your EMI payment.