ING Vysya Bank Gold Loan Approval Process

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ING Vysya Bank Gold Loan Features

A loan taken by placing gold as collateral is called a Gold loan. It is a type of secured loan. Gold loans are super easy to avail. The minimal documentation and fast processing make it an even more appealing option. ING Vysya Bank Gold Loan provides gold loans to those interested people who are in imperative want of cash and require monetary assistance at any point in time. The bank provides attractive offers in the form of an Agricultural Jewel Loan Scheme, Non-agricultural Jewel Loan Scheme and a Gold Loan Overdraft Scheme.

You can visit Dialabank for more information about gold loans.

ING Vysya Bank Gold Loan Eligibility

Minimum and Maximum Age	21 Yrs – 60 Yrs Note: However, many banks require a minimum age of 23 years
Loan Amount	Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh Interest rates are lower for a higher loan amount
Employment Type	Salaried and self-employed both are eligible Businessmen are increasingly taking gold loans to meet their working capital requirements. In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans.
Quality of Gold	Gold ornaments should range in between 18 to 24 Carats An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22
CIBIL Score	Banks do not check CIBIL score for granting a gold loan However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score
Gold ornaments that can be used for availing loan	Gold bars and coins Gold with 18-24 carat purity
Employment track record and income proofs	Banks do not check your job stability or business stability to sanction you a gold loan. Gold loans are granted without income proofs. You only need to submit your basic KYC documents such as address proof, identity proof, and an Aadhaar card to avail of this loan.

ING Vysya Bank Gold Loan Documents Required

At the time of application the following documents are required:

Proof of the citizenship of India
Duly filled application form
2 passport-sized photographs
Applicant’s KYC documents to establish Identity and Address
Salary/ Income Proof
Witness Letter in case of illiterate borrowers
In the case of Agriculture Loan of more than Rs. 1 lac, land proof
Certificate by the Jewel Appraiser (Bank will arrange)

At the time of disbursement the following documents are required:

Demand Promissory Note & Demand Promissory Note Take Delivery Letter
Gold Ornaments Take Delivery Letter
Arrangement Letter

ING Vysya Bank Gold Loan Approval Process

Follow these steps to apply for your ING Vysya Bank Gold Loan and get it approved:

Go to the ING Vysya Bank website.
Click on ‘Loans’.
Choose ‘Gold Loan’.
Click on ‘Apply now’ and fill in the application form that appears on the screen.
The ING Vysya Bank representative will be in touch with you regarding your loan application.
Your loan will be approved after confirming your eligibility and valuation of your gold ornaments.

FAQs on ING Vysya Bank Gold Loan Approval Process

✅ Can I avail loan against gold coins?

Yes, you can avail gold loan against gold coins within the limit of 50 gms per customer. The coins are also required to be 99.9 % pure by the most institutions.

✅What is the age limit to applying for a gold loan?

In ING Vysya Bank the age limit for applying for gold loans is between 18 to 70 years of age.

✅How much Gold Loan can I get per gram in ING Vysya Bank?

The level of Gold Loan per gram depends on the quality of the gold that you submit and the price of gold in the market. ING Vysya Bank offers a subsidy of 75-90% of the market price of gold after the valuation of the gold.