Saurashtra Gramin Bank Gold Loan Features
Every once in a while, we end up in a situation where we need money urgently. when you have gold this becomes very easy, as gold loans are a safe and quick way to avail monetary support. Saurashtra Gramin Bank Gold Loan is a convenient way to get monetary support against your gold. Saurashtra Gramin Bank Gold Loan Approval Process can be compared to other banks’ processes as well. Dialabank can help you know more about the perfect gold loan that you want to avail yourself of. Some features of Gold Loans are:
- Low-interest rates: Gold loans starting at 11.99% p.a.
- Loan amounts from Rs.5,000.
- 1.25% processing fee.
- Comfortable return options and tenures: You can choose from various EMI options.
- Quick processing: Gold loans are handed out even within hours, making it easier to avail.
- Easy documentation: Documents are processed quickly.
- Safe and secure: Your gold remains safely with the bank till you pay back the borrowed amount with interest.
Saurashtra Gramin Bank Gold Loan Eligibility
Minimum and Maximum Age
Note: However, many banks require a minimum age of 23 years
Loan Amount
Interest rates are lower for a higher loan amount
Employment Type
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
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
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 with 18-24 carat purity
Employment track record and income proofs
Saurashtra Gramin Bank Gold Loan Documents Required
At the time of application the following documents are required:
At the time of disbursement the following documents are required:
Saurashtra Gramin Bank Gold Loan Approval Process
Saurashtra Gramin Bank Gold Loan Approval process is quite seamless and easy to follow. Steps to be followed are:
- You can submit your loan request offline with relevant documents.
- You will have to carry the gold, as it would have to be valued and handed over in the bank if the loan is approved.
- Once your application is submitted, and documents are verified, the loan amount is processed and handed over.
- This process can even be completed within an hour if the documentation is perfect.
FAQs on Saurashtra Gramin Bank Gold Loan Approval Process
✅ Are gold loans based on high interest rates?
Gold loan interest rates are usually nominal and lie somewhere around 9 to 12% usually, but this may depend on various factors.
✅ What are the criteria to be qualified for a gold loan?
To be able to avail of a gold loan, one must be over or of 18 years of age and must have gold to mortgage.
✅ How long does it usually take to process a gold loan?
It usually takes around an hour to disburse the loan if your documents and eligibility are perfect.
