Features of Telangana Bank Gold Loan
- A gold loan, also known as a loan against gold, helps the borrower to get immediate cash against gold jewellery for financial purposes.
- Gold is an asset that can help in a financial emergency; this gold can be used to avail gold loans. The reason may be business, personal or education-related. Various banks and non-banking financial companies offer this gold loan.
- Getting a gold loan is adaptable and also does not take much documentation. One such bank providing the gold loan is Telangana Bank Gold Loan.
- The lenders do not ask for income proof.
- Loan against gold offers low-interest rates compared to other loans
- The security of gold is considered essential.
- Quick processing of gold loans, unlike most loans- personal loans, car loans etc.
- Zero processing fees.
- Options like ‘Pay only interest’ are available on gold loans. Look for more schemes that can be of your benefit.
- A low CIBIL score doesn’t matter. What matters is repayment options.
- Gold loans are only approved in the form of jewellery. Therefore, gold bars or coins are not accepted for gold loans.
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Telangana Bank Gold Loan Comparision with banks
| Bank / NBFC | Rate Per Gram | Interest Rate | Gold Loan Tenure | Min – Max Loan Amount |
| ₹ 3,506 to ₹ 4,621 | 0.099 | 3 to 24 months | ₹ 10 thousand to 5 crore | |
| Private Gold Loan | ₹ 3,506 to ₹ 4,621 | 0.1 | 6 to 12 months | ₹ 10 thousand to 5 crore |
| ₹ 3,506 to ₹ 4,621 | 0.12 | 7 days to 36 months | ₹ 3 thousand to 1 crore | |
| ₹ 3,506 to ₹ 4,621 | 0.1225 | 12 months | ₹ 3 thousand to 1 crore | |
| ₹ 3,506 to ₹ 4,621 | 0.1025 | 36 months | ₹ 20 thousand to 50 lakh | |
| ₹ 3,506 to ₹ 4,621 | 0.1 | 3 to 36 months | ₹ 10 thousand to 5 crore | |
| SBI Gold Loan | ₹ 3,506 to ₹ 4,621 | 0.0975 | 12 to 36 months | ₹ 20 thousand to 50 lakh |
| ₹ 3,506 to ₹ 4,621 | 0.075 | 3 to 36 months | ₹ 20 thousand to 50 lakh | |
| ₹ 3,506 to ₹ 4,621 | 0.1025 | 12 months | ₹ 20 thousand to 50 lakh | |
| ₹ 3,506 to ₹ 4,621 | 0.1025 | 12 months | ₹ 10 thousand to 5 crore | |
| IIFL Gold Loan | ₹ 3,506 to ₹ 4,621 | 0.12 | 11 months | ₹ 3 thousand to 50 lakh |
Telangana Bank Gold Loan EMI calculator
The EMI calculator of Loan Against gold gives you an approximate idea of the amount to be paid regularly to the bank or NBFC for specific durations. The interest component of your EMI is higher in the beginning and decreases with each EMI.
A Gold loan is favoured due to fewer interest rates, less documentation, quick processing and flexible repayment tenure.
Telangana 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
Telangana Bank Gold Loan Documents Required – FAQs
✅ What are the modes that I can use to repay my gold loan?
The borrower can pay money in the following ways:
- online payments
- cheque,
- cash,
- debit cards
- demand drafts and credit cards are not accepted to make payment.
✅ What is the eligibility of gold for a gold loan in Telangana Bank Gold Loan?
The gold should have a quality of 18 carats to 24 carats.
✅ Can a gold loan be extended?
Gold loans are issued for the short term that period varies from bank to bank. But if you want to extend, you may approach your bank and get details if possible and give a loan entirely in the bank’s hands.
