Sarva UP Gramin Bank Gold Loan Approval Process

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Sarva UP Gramin Bank Gold Loan Features

Sarva UP Gramin Bank Gold Loan Approval Process is easier and faster than you think. Sarva UP Gramin Bank Gold Loan Approval Process provides gold loans for all its customers with low interest and instant loan approval. You can avail of a loan even if your CIBIL score is less than 750. The required CIBIL Score for Sarva UP Gramin Bank Gold Loan is 500, and the loan tenure for the gold loan is flexible.

Easy Process and instant approval: Sarva UP Gramin Bank Gold Loan Approval Process is comparatively easy, and the loan is provided instantly.
Lower Interest Rate: Sarva UP Gramin Bank Gold Loan lowest interest rate is 7%.
Less Documentation: Sarva UP Gramin Bank Bank Gold Loan involves an easy documentation process and less paperwork.
Low Processing Fee: Sarva UP Gramin Bank processing fee on gold loans is 0.85%.
Flexible Tenure: Sarva UP Gramin Bank Gold Loan Tenure is flexible between 6 to 36 months.
Multiple Repayments Options: Sarva UP Gramin Bank Gold Loan offers multiple repayments options like bullet repayment, Term Loan, Regular EMI, and Overdraft.
Flexible instalment schedule: Sarva UP Gramin Bank Gold Loan instalments can be done weekly or monthly.
Maximum Gold Value: Sarva UP Gramin Bank provides a maximum value of 75% on your gold loan.
Safe: Your Gold deposited with Sarva UP Gramin Bank as collateral will be safely stored in a unique triple-layered secure locker.

Sarva UP Gramin 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.

Sarva UP Gramin 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