Corporation Bank Gold Loan Key Features – Apply Now!
|Corporation Bank Gold Loan Interest Rate||7.11% per annum|
|Corporation Bank Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,032
|Corporation Bank Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Corporation Bank Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Corporation Bank Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Corporation Bank Gold Loan Repayment Tenure||3 Months to 24 Months|
|Corporation Bank Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
About Corporation Bank Gold Loan
Corporation Bank Gold Loan is a type of loan where you get a loan against your gold jewelry/gold coins or any other form of gold. You have to give your gold to the bank as a security and you will get a gold loan according to the value of your gold. You will have to give the prescribed amount to the bank in the form of interest and whenever you return back this amount to the bank you will get your gold back.
Why Gold Loan?
Most importantly, the bank takes full responsibility for your gold. Furthermore in this type of loan is a type of loan where you get a gold loan against your gold jewelry/gold coins or any other form of gold. You have to give your gold to the bank as a security and you will get a gold loan according to the value of your gold. Besides that, You will have to give the prescribed amount to the bank in the form of interest and whenever you return back this amount to the bank you will get your gold back. Hence the bank takes full responsibility for your gold.
Types of Corporation Bank Gold Loan
Corporation Bank provides a gold loan under three schemes
- First of all Jewel loans apart from agriculture.
- After that Mortgage of gold jewelry-this loan can be used to fulfill the business requirements of the applicant.
- An agriculture jewel loan-this loan can be used by farmers to fulfill their agricultural needs. Maximum Rs. 3 Lakhs can be provided to the customers under this scheme but only for 12 months.
Why Gold Loan Is Preferred?
Gold Loan is preferred because it is quickly disbursed, easy to access. Another reason after that is that if you have gold in any form and you are not using this gold. Furthermore, if you want it to put safely in the bank. You to buy a locker in the bank and bank charged for this and the bank will not take its full responsibility. So it’s better to get the gold loan you will get money as the security of your gold at the same time and same place. What would be better than this?
Features of Corporation Bank Gold Loan
- First of all Interest rates are very low.
- Besides that the process is hassle-free.
- Less paperwork is required.
- Therefore one can get a maximum amount of loan according to the value of their gold.
- So the loan is sanctioned very transparently.
You can use the gold loan to fulfill your personal needs. similarly, you can start a new business by using the given amount of loan. Furthermore, farmers can use the gold loan for the agricultural purposes. So you can also use this amount of loan to get over the financial crises. Furthermore, we can use this loan for educational purposes.
Corporation Bank Gold Loan Eligibility
- There are some conditions that the applicant should fulfill to get a gold loan.
- First of all the age of the applicant should be more than 18 years.
- After that, the applicant should have gold in the form of coins/ jewelry. But the purity of the gold should be 18 karats to 22 karats. (24 Carat Gold will not be accepted)
- •First of all the interest rates offered by the bank to the customers are comparatively very low. It starts at 10.60% and can be up to 12.60%.
- After that, they can be varied a little bit up and down. Besides that, you can return the loan within 2 years.
- Furthermore, the amount of loan provided can be from 10 thousand to Rs. 2 Lakhs.
Corporation Bank Gold Loan Documents
The process of documentation is very easy and simple.
- Identity proof (Passport/Id card/voter card/driving license) can be any one of them. Everyone easily has these documents so there is no problem with the submission.
- 3 passport size photos
- A passport can be used as ID proof because a passport has a name, age, address and photograph of the customer. If you are having a passport then there is no need to bring your address proof separately.
- Residence proof can be Aadhar card, voter card, and passport (Passport/Id card/voter card/driving license). Similarly, electricity and water bill for the last three months also, because these are the proofs that you are residing in that particular place.
- Driving license is also regarded as a proof of identity and residence proof because it contains the name, date of birth and a photograph of the customer.
- Aadhar card provided by UIDAI that contains biometric details of the customers like age date of birth and photograph of the individual.
- PAN card is the permanent account number that is provided to the customers and it prevents from the financial frauds. So it can be another identity/residence proof. Pan card is very essential document under KYC (know your customer) formality.
- Likewise, Ration card is also a residence proof because it provides enough information about the applicant.
- A signature proof is also required to get a Gold Loan.
About Corporation Bank
Corporation bank is a public sector banking company. Bank was founded on 12 March 1906. Corporation bank has launched RuPay Select and RuPay Platinum credit cards recently. Bank gives so many financial services to its customers like banking, credit cards, loans etc. is one of them. Besides that, the bank provides a gold loan also. And it is very popular because it is easily accessible and quickly disbursed among all the loans.
How to apply on lendingwale.com
- First of all search for lendingwale.com on google.
- A form will open up.
- After that fill the form with the required information.
- Our Relationship Manager will Assist you as soon as possible and help you get your Gold Loan