Corporation Bank Gold Loan

Corporation Bank Gold Loan Key Features – Apply Now

Corporation Bank Gold Loan Interest Rate	7.25% per annum
Corporation Bank Gold Loan Rate Per Gram	Rate Per Gram is ₹ 3,800 to ₹ 4,350
Corporation Bank Processing Fee	0.75% of the Principal Loan Amount
Corporation Bank Maximum Loan Amount	Up to Rs. 1 Crore (With Income Proof)
Corporation Bank Minimum Loan Amount	75% LTV
Corporation Bank Gold Prepayment Charges	2%+GST (Within 3 Months), 0 (After 3 months)
Corporation Bank Gold Repayment Tenure	Up to 12 Months
Corporation Bank Gold Repayment Scheme	Bullet Payment Scheme, Overdraft Scheme

Corporation Bank issues a Gold Loan per gram rate of ₹ 2,506 to ₹ 4,621 in line with the current gold rate. The best Corporation Bank 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

You just need to give a call on 9878981144 to avail of the best deals and offers on Corporation Bank Gold Loan.

Corporation Bank Bank GL Explanation

Gold Loan are loans availed by pledging your gold ornaments with a bank. Corporation Bank 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 Corporation Bank has the following benefits:

Corporation Bank 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 Corporation Bank. These reward points are redeemable in various online transactions.

Comparison Of Bank Gold Corporation Bank Loan With Other Banks

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

Particulars	Corporation Bank	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

 

Tips To Get Best Gold Loan Amount Per Gram From Corporation Bank

• Corporation Bank 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  Jewel loan.
• Corporation Bank will calculate the net weight of jewellery to calculate the loan amount 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. Corporation Bank 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, resulting in a lower amount of jewel loan you can be eligible to get. Further, Corporation 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 rate per gram.
• Always try to get the maximum LTV on the value of gold. Punjab and Sind Bank is allowed by RBI to charge a maximum LTV of up to 85% to calculate the amount of gold loan you are eligible for.

Advantages Of Corporation Bank Gold Loan 

• Interest rates charged are very low.
• The Application Process is hassle-free.
• Less paperwork is required.
• One can get the maximum amount of loan according to the value of their gold.
• Transparent process
• The Bank charges about 0.50% of the principal amount as foreclosure charges.

 

How Much Gold Loan Can I Get Through Corporation Bank Gold Loan?

According to the latest gold prices, Corporation Bank is offering gold loan per gram is ₹ 3,800 to ₹ 4,350. The Highest Corporation Bank gold loan rate per gram today is ₹ 3,800 to ₹ 4,350 for 24-carat jewellery calculated at a maximum LTV of 75%, and average gold loan prices of the last 30 days in 2021 are ₹ 3,800 to ₹ 4,350 of 22 carats.

Corporation Bank Gold Loan Per Gram – Nov 21 2024

₹ 3,800 to ₹ 4,350

 

About Corporation Bank Gold Loan

Corporation Bank is a public sector bank. The headquarters of the bank is in Mangalore. Jai Kumar Garg is the C.E.O of the bank. The bank was set up in 1906. The bank is so old and reliable that customers like to get financial services only from the Corporation bank.

The bank provides online banking, loans, banking, insurance, wealth management and loans to customers. Gold Loan is one of them. Gold Loan is easily accessible as well as quickly disbursed among all the loans. A gold loan is a loan where you get a loan against your gold ornament/gold coins or any other form of gold. 

Corporation Bank provides a gold loan to the customers at very low rates of interest. It is also known as a loan against gold. In a gold loan, the bank provides the loan amount to the customers at some interest rate in exchange for the gold as a security.

• Corporation Gold Loan Interest Rate is 7.25% per annum
• Corporation Gold Loan Per Gram Rate is ₹ 3,800 to ₹ 4,350
• Corporation Bank Gold Loan Tenure: Up to 12 months
• Corporation Bank Gold Loan Processing Fee is Up to 1.0% of the Loan Amount or Rs 1000(Which one is higher) + GST

Know More – What happens when you don’t pay a Gold Loan?

 

Corporation Bank Gold Loan Eligibility

Gold Loan is a financial product provided by the Corporation Bank that caters to your short-term or long-term funds. It is easy to avail of financial service provided by Corporation Bank at low rates of interest and requires minimal documentation for the same. Moreover, the corporation 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 of the Corporation Bank Gold Loan is: 

Age	18-75 years
Requirements	Gold ornaments (18-22 carats)
CIBIL score	Above 500
Nationality	Indian

 

Corporation Bank Gold Loan at Home 

Gold Loan at Home is a doorstep loan service that allows you to borrow money from the convenience of your own home. The service is rapid, flexible, and cost-effective because interest rates are low. You may use the gold loan calculator to calculate 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.

One of our representatives will contact you and arrive at your home within 30 minutes. The appropriate gold loan amount will be paid immediately to your bank account when all e-documentation and gold identification is completed at your home.

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

• Diverse Range of Gold Loan Schemes
• Your Gold will just be released the same day.
• You can get free insurance for your Gold
• There are no hidden fees.
• You will get the maximum value of your Gold
• Service at Your Door in 30 Minutes

Corporation Bank Gold Loan Documents Required

Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Corporation Bank wherein funds are provided for fulfilling the applicant’s financial needs. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire Corporation 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 Corporation Bank Gold Loan are :

Identity Proof	Aadhar Card/Pan Card/ Passport/ Voter ID (Anyone)
Residence Proof	Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card (Anyone)
Agriculture Proof ( if applicable)	Agriculture Land Ownership Proof
Photographs	2 Passport sized coloured

 

Corporation Bank Gold Loan Interest Rate, Fees and Charges

Corporation Gold Loan Interest Rate	7.25% per annum
Processing Fee	1.0% of the Principal Loan Amount
Prepayment/Foreclosure Charges	2%+GST (Within 3 Months), 0 (After 3 months)
Valuation Fee	Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
Late Repayment Charges	2% p.a. + Applicable rate of interest.
Renewal Processing Fees	Rs 350 + GST

 

Types Of Corporation Bank Gold Loan 

Corporation Bank provides a gold loan under three schemes:

• First, jewel loans are apart from agriculture.
• Mortgage of gold jewellery – This loan can be used to fulfil the business requirements of the applicant.
• An agriculture jewel loan – Farmers can use this loan to meet their agricultural needs. Maximum Rs. 3 Lakhs can be provided to the applicant under this scheme but only for 12 months.

Corporation Bank Gold Loan Apply Online

You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan with Corporation Bank as per your need.

• Visit the website of Dialabank. 
• Fill the form available on the main page of the website.
• Our Relationship Manager will contact you on your provided number and assist you throughout the Gold Loan process with Corporation Bank. 
• The relationship manager will present all the offers available from the marketplace and help you choose the right deal for yourself.

 

Corporation Bank Gold Loan EMI Calculator

Rate of Interest	6 months	1 Yr	2 Yrs	3 Yrs
7.00%	17008	8652	4477	3088
8.00%	17058	8699	4523	3134
8.50%	17082	8722	4546	3157
9.00%	17107	8745	4568	3180
9.50%	17131	8678	4591	3203
10.00%	17156	8791	4614	3227
10.50%	17181	8815	4637	3250
11.00%	17205	8838	4661	3274
11.50%	17230	8861	4684	3298
12.00%	17254	8885	4707	3321
12.50%	17279	8908	4731	3345
13.00%	17304	8932	4754	3369
13.50%	17329	8955	4778	3393
14.00%	17354	8979	4801	3418
14.50%	17378	9002	4825	3442
15.00%	17403	9026	4845	3466

 

How To Pay Your Corporation Bank Gold Loan EMI?

Your Corporation Bank gold advance can be repaid in the following three different ways.

1. Standing Instruction (SI): If you have an account with Corporation Bank, Standing Instruction is the best method of r repayment.
2. Electronic Clearing Service (ECS): This mode can be utilised if you have a non-Corporation Bank account.
3. Post-Dated Checks (PDC): You can also submit post-dated EMI checks from a non-Corporation Bank account at your closest Corporation Bank Loan Center.

Corporation Bank Gold Loan Contact Number

Call 9878981144 and get instant help and approval for your Corporation Bank Gold Loan.

Gold Form Accepted For Corporation Bank Gold Loan

• Gold ornaments in all forms
• Gold coins are not accepted.

Uses Of Corporation Bank Gold Loan

The funds acquired by availing the Corporation 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 of a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold loans that are used for agriculture or allied activities.

Corporation Bank Agricultural Jewel Loan Scheme

Scheme	Agricultural Jewel Loan Scheme
Interest Rate	Starting from 7.25% per annum (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 Corporation Bank Agricultural Jewel Loan Scheme

• There is no processing fee chargeable up to ₹ 25,000
• 0.30% of the loan amount, Minimum of ₹ 300 charge applies 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 applies to the amount more than Rs.5 lakh however, under Rs.1 crore

Corporation Bank Gold Loan Overdraft Scheme

Corporation Bank Offers an Overdraft facility. It is like a Credit Card, where the money is spent as necessary. The overall loan amount comes with a Credit/Loan Limit. In the Corporation Bank Gold Loan Overdraft facility, the bank charges interest on the amount withdrawn.

 

Corporation Bank Gold Loan Highlights 

Age	18-75 years
Minimum Loan Amount	Rs. 25,001
Maximum Loan Amount	Rs. 25 Lakh
Corporation Bank 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
Corporation Bank Gold Loan Processing Charges	0.23% of the loan amount

 

How Does Corporation Bank Gold Loan Work? Here’s An Example

The loan amount eligibility is decided based on the 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 75% will vary by the purity of gold. Hence, it will result in varying gold loan eligibility.

FAQs About Corporation Bank Gold Loan

✅ What is Corporation Bank Gold Loan?

Customers can pledge their gold jewellery as security and use the loan amount to meet personal and business fund requirements under this scheme. The bank charges a low rate of interest with a tenure of your choosing and easy repayment methods.

 ✅ How much Gold Loan Can I get per gram from Corporation Bank?

You can avail of a loan of ₹ 3,800 to ₹ 4,350 per gram from Corporation Bank, depending on the quality of your gold.

✅ What is the Gold Loan interest rate in Corporation Bank

The  Interest rate on a gold loan in Corporation Bank is 7.25% per annum onwards.

✅ How to check gold loan status in Corporation Bank?

To check your Corporation Bank Gold Loan status online, just visit the portal from your web browser and fill in your Gold Loan application details.

 ✅ How to calculate gold loan interest in Corporation Bank?

The gold loan per gram in Corporation Bank can be calculated by simply subtracting the principal amount from the total amount to be paid.

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

From Corporation Bank, you can avail a maximum of up to 75% of your pledged gold jewellery’s market value.

✅ What is the loan tenure of Corporation Bank gold loan?

The loan tenure of your Corporation gold loan is up to 12 months.

 ✅ How much processing fee is applicable on Corporation Bank Gold loan?

Corporation Bank charges you a processing fee of 1.0% (+GST) for your gold loan.

✅ What are the charges for pre-payment in the Corporation Bank gold loan?

The charges of pre-payment in Corporation Bank loan is 1% of the outstanding loan amount.

✅ How to renew Corporation Bank Gold Loan online?

To renew the Corporation Bank Gold loan online, just log in to the bank’s portal with your personal credentials and fill a form of renewal of the loan.

✅ How to pay Corporation Bank Gold loan interest online?

You can pay the Corporation Bank loan against gold interest online using any of the following options:

• Net banking
• Debit cards
• i-mobile app

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

If you fail to pay your loan amount with Corporation Bank for 3 months, the bank will warn you against further defaults. But, if the defaults continue, the bank may even consider selling off your gold ornaments kept as a security.

✅ How can I apply for an EMI moratorium on a Corporation Bank Gold loan?

You can apply for EMI Moratorium on Corporation Bank Gold loan online by logging in with your unique ID and password or visiting the bank personally and applying for the same.

✅ How to pay Corporation Bank Gold loan through credit card?

You cannot pay Corporation Bank Gold Loan through a credit card as per RBI’s guidelines.

✅ What is Corporation Bank Gold Loan Overdraft Scheme

Corporation Bank Offers an Overdraft facility. It is like a Credit Card, where the money is spent as necessary. The overall loan amount comes with a Credit/Loan Limit. In the Corporation Bank Gold Loan Overdraft facility, the bank charges interest on the amount withdrawn.

✅ What is the foreclosure procedure for Corporation Bank Gold Loan?

Corporation Bank charges a borrower up to 0.50% of the principal amount if there is a Gold Loan Foreclosure.

✅ What is the Corporation Bank Gold Loan closure procedure?

The Gold loan will only close after the payment is done in full.

✅ What are Corporation Bank Gold Loan Preclosure charges?

The Bank preclosure charges are 2%+GST (Within 3 Months), 0 (After 3 months)

✅ What is the maximum gold loan tenure?

The maximum gold loan tenure is 36 months for Corporation Bank.

✅ What is the minimum gold loan tenure?

The minimum Corporation Bank Gold loan tenure is 6 months.

✅ What is the customer care number for Corporation Bank Gold Loan?

All the queries regarding Corporation bank can be answered on 9878981144.