Allahabad Bank Gold Loan

Gold Loan at 1%* p.m.

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Allahabad Bank Gold loan is a type of Gold 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. Bank will be fully responsible for the security of your gold.

Why Allahabad Bank Gold Loan

Comparatively Allahabad Bank Gold Loan is preferred because it is quickly disbursed, easy to access. Another thing is that if you have gold in any form and you are not using this gold and if you want it to put safely in the bank you have to buy a locker n bank and you will be charged for this and 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?

Allahabad Bank Gold Loan Eligibility

Every bank has its own criteria to give a gold loan. Allahabad Bank provides Gold Loan :

To all individuals (corporate and noncorporate)

Age of the applicant should be more than 18 years and less than 70 years. Bank gives loan amount from 5 Lakhs to 25 Lakhs to its existing customers.

The borrower must have gold in any form such as jewels, ornaments, etc.

The Gold should be of 18-22 Carat (24 Carat Gold is not accepted)

The Allahabad Bank gold loan amount is given the maximum for 5 Years.

Rate of Interest

There are no prepayment and processing fees.

Amount of loan will be equal to 75% of the market value of the gold.

Rate of interest depends on the purpose of the loan.

For agricultural purposes then BR (base rate) will be 10.20% up to Rs. 50000.

From Rs. 50000 to 2 Lakhs base rate is 11.20%.

Above 2 Lakhs it is 12.20%.

Documentation

The process of documentation is very easy and simple.

Identity proof (Passport/Id card/voter card/driving license) can be any one of them. 

3 passport size photos

•A passport is can be an 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 the Aadhar card, voter card, and passport (Passport/Id card/voter card/driving license). Electricity and water bill for the last three months because these are the proofs that you are residing in that particular place.

Driving license can also be 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 and it prevents from the financial frauds. So it can be an identity/residence proof. Pan card is very essential document under KYC (know your customer) formality.

Ration card also can be a residence proof because it provides enough information about the applicant.

About Allahabad Bank

It is one of the oldest banks in India. The bank was established 153 years ago. Allahabad Bank was founded on 24th April 1865. Headquarter of the bank is in Kolkata. Bank provides financial services to its customers like consumer banking, corporate banking, finance, and insurance. Besides that, the bank operates in 29 states and 3 UT’s in India. Bank provides a gold loan to the customers at very attractive rates of interests.

How to apply on lendingwale.com

Steps to apply

  1. First of all Search for www.lendingwale.com 
  2. After that form will open up.
  3. Fill in the online form.
  4. Our Relationship Manager will contact you as soon as possible and help you get your Gold Loan.




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