UCO Bank Gold Loan Approval Process


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UCO Bank Gold Loan Approval Process

UCO Bank Gold Loan Features

UCO Bank is a Commercial Bank and a Government of India undertaking founded in 1943 and headquartered in Kolkata, India.

A gold loan is a secured loan that customers can avail of from UCO Bank in lieu of gold ornaments like gold jewellery, and it is one of the easiest ways to meet your financial necessities, such as; international education, marriage expenses, medical emergencies, etc. With Dialabank’s easy endorsement process, you can avail of a gold loan with just a few simple and agile steps.

  • UCO Bank Gold Loan Approval ProcessInterest rate: UCO Bank offers low-interest rates in comparison to other loan options.
  • Safety: UCO Bank provides 100% safety and security of your gold ornaments.
  • Simple documentation: UCO Bank gold loan involves simple documentation and fast processing of the loan amount.
  • Fee: UCO Bank charges a low processing fee on gold loans.
  • Tenure: UCO Bank also offers flexible loan tenure options.
  • Repayments: UCO Bank provides multiple repayments options.
  • Loan amount: UCO Bank’s applicants for gold loans can leverage a comparatively higher maximum cap on the loan amount.
  • Schemes: UCO Bank gold loans can be repaid through various schemes.

UCO 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
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.

UCO 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

UCO Bank Gold Loan Approval Process

  • Visit the Dialabank.
  • Confirm the required information.
  • You will get required details such as the amount of loan, interest rate, and loan tenure.
  • Proceed with the application and submit the form.
  • Call 9878981166, and our relationship manager will assist you.

FAQs on UCO Bank Gold Loan Approval Process

How to apply for UCO Bank Gold Loan?

You can apply for UCO Bank Gold Loan by visiting the branch and enquiring with your financial service provider. You can also apply online with Dialabank and get the offers and deals as per your needs.

✅ What is the tenure of the UCO Bank Gold Loan?

The maximum tenure of your gold loan at UCO Bank gold loan is up to 36 months.

 Is my gold pledged with the bank safe?

Banks take a lot of care while collecting your gold and keep it secure until the loan amount is returned.