About Karnataka Vikas Grameena Bank Gold Loan
Regional Rural Banks (RRBs) under the provisions of an Ordinance passed on September 1975 and the RRB Act Thus, RRBs were a low-cost Bank designed to cater to the needs of small and marginal farmers, rural artisans, petty traders, etc., who operate in rural areas and bring them into the economic mainstream, as 70% of the Indian population is of rural orientation. 
In Karnataka state, Syndicate Bank had sponsored four RRBs, namely Malaprabha Grameena Bank, Bijapur Grameena Bank, Varada Grameena Bank, and Netravathi Grameena Bank. The single entity that so emerged now operates in the nine districts of Bagalkot, Belgaum, Bijapur, Dakshin Kannada, Dharwad, Gadag, Haveri, Udupi and Uttar Kannada catering to the financial needs of the people in these districts.
Karnataka Vikas Grameena Bank Gold Loan Key Features – Apply Now
| Karnataka Vikas Grameena Bank Gold Loan Collateral | Gold ornaments |
| Karnataka Vikas Grameena Bank Gold Loan per gram |
variable depending on the purity of gold
|
| Karnataka Vikas Grameena Bank Gold Loan Age of Borrower | 18 – 70 years |
| Karnataka Vikas Grameena Bank Gold Loan Maximum Loan Amount | Up to 10 lakhs |
| Karnataka Vikas Grameena Bank Gold Loan Maximum Loan to Gold Value Ratio |
Up to 70%, 90% in case of higher interest rates
|
| Karnataka Vikas Grameena Bank Gold Loan purity of Eligible gold | 18 carat to 22-carat gold |
| Karnataka Vikas Grameena Bank Gold Loan Tenure | 12 months to 36 months |
How Much Can I Get Through Karnataka Vikas Grameena Bank Gold Loan?
| Karnataka Vikas Grameena Bank Gold Loan Rates/ Gram Jan 2021 | ||||
| Weight | Loan on 18Cr Gold | Loan on 20Cr Gold | Loan on 22Cr Gold | Loan on 24Cr Gold |
| 1 gm | 2455 | 2737 | 3020 | 3302 |
| 10 gms | 24550 | 27370 | 30200 | 33020 |
| 20 gms | 49100 | 54740 | 60400 | 66040 |
| 30 gms | 73650 | 82110 | 90600 | 99060 |
| 50 gms | 122750 | 136850 | 151000 | 165100 |
| 100 gms | 245500 | 273700 | 302000 | 330200 |
| 200 gms | 491000 | 547400 | 604000 | 660400 |
| 300 gms | 736500 | 821100 | 906000 | 990600 |
| 500 gms | 1227500 | 1368500 | 1510000 | 1651000 |
Benefits of Karnataka Vikas Grameena Bank Gold Loan
- Low-interest rate.
- The loan is processed quickly.
- The gold collateral is kept safely in bank lockers of up to the mark quality.
- You can use the gold loan money for any personal purpose.
- Less documentation only, No CIBIL score required in Karnataka Vikas Grameena Bank Gold Loan.
- Furthermore, Flexible repayment options as well as lower monthly outflow.
- Besides that, No processing fee is charged for Karnataka Vikas Grameena Bank Gold Loan.
- Low or no foreclosure charges.
- Bad credit history, not an issue.
- Instant Processing and Disbursal in Karnataka Vikas Grameena Bank Gold Loan.
- Bank charges a borrower up to .50% on the principal outstanding in case of a Gold Loan Foreclosure.
Interest Rate for Karnataka Vikas Grameena Bank Gold Loan
| Gold Loan Rate | 7.25% per annum |
| Repayment Scheme |
Bullet Repayment Scheme, Overdraft Scheme
|
| Prepayment Charges | 0 – 2 %. |
| Service Charges | variable |
| Document Charges | variable |
| Gold Valuation Charges | variable |
| Processing Fee | 0.85%. |
Eligibility for Karnataka Vikas Grameena Bank Gold Loan
| Age | 18-70 years of age |
| Nationality | Indian |
| Employment Status |
Salaried, Self-Employed
|
|
Gold Quality, Quantity
|
Minimum 18 Carats, minimum 10 grams
|
| Requirements |
Gold ornaments (18-22 carats)
|
| CIBIL score | Above 500 |
Karnataka Vikas Grameena 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
Documentation for Karnataka Vikas Grameena Bank Gold Loan
| Photographs |
2 Passport-Sized latest coloured photos
|
| 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. In the case of Agriculture Loan on the gold of more than Rs. 1 lakh there is no requirement of proof for allied agriculture purposes.
|
| Demand Promissory Note |
Certificate by the Jewel Appraiser (Bank will arrange)
|
Why Should I avail of Karnataka Vikas Grameena Bank Gold Loan
- The gold loan is available to you online so you can avail of it from the comfort of your houses.
- The bank provides high funding, up to Rs. 10 lakhs, to take care of your needs.
- If you cannot pay in the form of EMIs, you have other repayment options.
- The prepayment charges are very low which helps to reduce the burden of your EMIs
- The loan gets approved and sanctioned in no time.
- Karnataka Vikas Grameena Bank Gold Loan also offers convenient disbursal on the same day
- Minimum documents are required, just for identification
- The gold is safe in the bank’s lockers
- You can avail of a loan at just a 1% per month rate of interest.
- You can easily apply for the Gold Loan by visiting any branch physically or through the website.
How to apply for Karnataka Vikas Grameena Bank Gold Loan?
- Dialabank provides you with the option of applying online. To do so, visit Dialabank.
- Fill in your details in the form for our perusal. We will shortlist offers for you
- You get a call from our Relationship Manager to clear all doubts and to assist you in the entire process of the loan.
- The best Gold Loan Interest Rate is suggested to you by our managers.
- You can also check whether you are eligible for the loan or not.
- Deposit all the documents required as proofs in the banks.
- The loan is approved in a few minutes as well as disbursed within a day.
- If you want to talk to us directly, call us at 9878981144.
Karnataka Vikas Grameena 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 |
Uses of Karnataka Vikas Grameena Bank Gold Loan
The Gold Loan can be used for:
- Personal expenses
- Education Expenses
- Business Expenses
- Agricultural Expenses
Karnataka Vikas Grameena Bank Agricultural Jewel Loan Scheme
| Scheme | Karnataka Vikas Grameena Bank 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 Karnataka Vikas Grameena Bank Agricultural Jewel Loan Scheme
- Karnataka Vikas Grameen Bank does not charge a processing fee up to ₹ 25,000
- 0.30% of the loan amount, Minimum of ₹ 300 is charged 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 is applicable to the amount more than Rs.5 lakh however under Rs.1 crore
Karnataka Vikas Grameena Bank Gold Loan Overdraft Scheme
Karnataka Vikas Grameen Bank offers an Overdraft Scheme. With this, the loan amount is provided as an overdraft facility. It functions as a Credit Card, where you can spend your Gold Loan Amount as per your wishes, anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Muthoot Finance Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
FAQs About Karnataka Vikas Grameena Bank Gold Loan
✅What is Karnataka Vikas Grameena Bank Gold Loan?
Karnataka Vikas Grameena Bank gold loan is a financial product offered by the bank for fulfilling the monetary needs of customers. The bank provides the loan at competitive interest rates for a flexible tenure which can be renewed as well.
✅How much Gold Loan can I get per gram in Karnataka Vikas Grameena Bank?
Karnataka Vikas Grameena Bank Gold Loan Rate per gram rate depends on the purity of your gold and the current price prevailing in the market. Thus, it varies every day. You can get an attractive 70% loan to the collateral ratio in this bank. In case of higher interest rates, the bank might even provide you with funding up to 90%.
✅What is the Gold Loan interest rate in Karnataka Vikas Grameena Bank?
The rate of interest charged on the Karnataka Vikas Grameena Bank gold loan depends on the total amount that will be borrowed and usually starts from 7.25% per annum per annum.
✅How to pay Karnataka Vikas Grameena Bank Gold Loan online?
You can pay for the Karnataka Vikas Grameena Bank gold loan online using various convenient methods offered by Karnataka Vikas Grameena Bank. For detailed information, you can contact the customer care executive.
✅How to apply for Gold Loan in Karnataka Vikas Grameena Bank?
Apply for a Karnataka Vikas Grameena Bank Gold Loan by visiting the branch and filling a form. You need to submit the form with documents and your gold collateral and wait for the approval. You can also apply through Dialabank’s digital platform to get easy approval and personalized assistance.
✅How to renew Karnataka Vikas Grameena Bank Gold Loan online?
To renew your Karnataka Vikas Grameena Bank gold loan, visit your loan branch with the loan documents and apply for a renewal with your loan officer. After revaluation of your gold and payment of any fee as applicable, your loan will be renewed for another term.
✅How to take Gold Loan from Karnataka Vikas Grameena Bank?
To take a Karnataka Vikas Grameena Bank gold loan, the following steps have to be taken:
- visit the nearest branch or the official website.
- Apply for a gold loan.
- Submit the forms, documents, and your jewellery.
- After your jewellery is weighed, the bank will offer you a loan amount.
- Accept the offer.
- Your loan will be sanctioned.
- The processing fee and other charges will be deducted directly from the loan amount.
✅How to check Karnataka Vikas Grameena Bank Gold Loan status?
Checking the status of your Karnataka Vikas Grameena Bank gold loan can be done by visiting the branch and contacting the loan officer. You can also email the bank for checking the status from the comfort of your home.
✅What happens if someone defaults Karnataka Vikas Grameena Bank Gold Loan?
If you are unable to make the payment for the Karnataka Vikas Grameena Bank Gold Loan, the bank charges a penalty fee from the borrower which will reflect in your credit score affecting your loan taking ability in the future. You may be named as a CIBIL defaulter.
✅How can I apply for the EMI moratorium on the Karnataka Vikas Grameena Bank Gold loan?
You can apply for a Karnataka Vikas Grameena Bank gold loan EMI moratorium only until 5 days before the EMI payment date. You can apply by providing the bank with your loan details online or by visiting the branch.
✅What is the Overdraft Scheme for Karnataka Vikas Grameena Bank Gold Loan?
Karnataka Vikas Grameena Bank does provide an Overdraft Scheme and the overall loan amount will have a Credit/Loan Limit. In the Karnataka Vikas Grameena Bank Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
✅What is the Karnataka Vikas Grameena Bank Gold Loan closure procedure?
Once the loan is paid, the bank will close your gold loan immediately.
✅What is the Karnataka Vikas Grameena Bank customer care number?
The customer care number is 9878981144
✅ What is Karnataka Vikas Grameena Bank Gold Loan Preclosure charges?
There are no preclosure charges for the Karnataka Vikas Grameena Bank Gold Loan.
✅ What is the maximum gold loan tenure?
The maximum gold loan tenure is 36 months.
✅ What is the Karnataka Vikas Bank Gold Loan minimum tenure?
The minimum tenure for the Karnataka Vikas Bank Gold Loan is 12 months.
✅ What are the foreclosure charges in Karnataka Vikas Bank Gold Loan?
The bank charges a borrower up to .50% on the principal outstanding in case of a Gold Loan Foreclosure
