Andhra Bank Gold Loan

Gold Loan at 1%* p.m.

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Andhra Bank Gold Loan

Andhra Bank Gold Loan allows customers to meet their various monetary requirements like medical emergency, travel, debt consolidation, etc. Furthermore, The Bank is committed to easy verification and fast allotment through which customers will be able to avail a lot of services making their life easier by being better at Gold finance management.
Also, anyone looking for fast and straightforward disposal of Gold Loan may apply with Andhra Bank by checking in all the documentation and suitable requirements.

Why opt for Andhra Bank Gold Loan

Uniquely, Andhra Bank grants you Gold Loan starting at Rs.10000 to Rs.2 crores depending on the client’s financial power, credit score, and professional background.
Furthermore, customers can benefit the Gold Loan without much tension, and they can have their request permitted inside four working hours.
Andhra Bank requires very less documentation for the approval of the Loan, and the loan process is very speedy.
Also, no Guarantor or Cosigner is required to avail the Loan.

Eligibility for Andhra Bank Gold Loan

Salaried

Profession: The person should be working in a government, private or MNC Company.
Eligible Age: The Minimum age to apply for a Personal Loan is 18 years.

Self-Employed

Eligible Age: The Minimum age to apply for a Personal Loan is 18 years.

Profession: The Person should be professionals like Doctors, CA, CS, Architects, Lawyer, or, doing his own business.
The customer has to be a citizen of India.
The borrower must possess an updated Aadhaar ID.
The customer should hold an active bank account that has an internet banking facility.

Andhra Bank Gold Loan Interest rate

Interest rates start from 10.70% and vary according to the following reasons;
Profile of Customers
Tenure of the Loan
Geography of residence
Nature of Collateral (If provided)
Prior/Existing relationship with the Bank.

Documents Required

Salaried

Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Last six months Bank statement & 3 months’ salary slip
Latest form 16
PAN card

Self-Employed

Identity Proof: Adhar Card, Passport, Voter ID card or Driving License
Address proof: Ration card, Passport, rent agreement, electricity/water bill.
Equally, important are last six months Bank statements.
Likewise, Latest ITR along with computation of income along with P/L audited by certified CA for the previous two years.

Tenure

As a matter of fact, Tenure is the period for which you get the Loan; here it is for one to five years.

About Andhra Bank

Andhra Bank is a mid-size public sector bank of India, with a total of almost 2885 branches, four extension counters, 38 satellite offices and 3798 automated teller machines as of 31 March 2019. During 2011–12, the Bank broke into the hilly states of Tripura and Himachal Pradesh. The Bank is now present in almost 25 states and three Union Territories. Andhra Bank is headquarters in Hyderabad, Telangana, India as the name suggests.
The Government of India owns about 90.85% of its share capital as on the end of financial year 31 March 2019. The state-owned Life Insurance Corporation of India holds about 7.66% of the shares. The Bank has a total business of ₹3,106 billion (approx US$45 billion) and has earned a net profit of around ₹5.40 billion (approx US$78 million) for the Fiscal Year 2015-16.

FAQs (Frequently Asked Questions)

Q1. Why should I take a gold loan from Andhra Bank?
Ans. Andhra Bank gold loan per gram allows you to know an estimate of the amount of Loan you can get in exchange for your gold jewelry.Moreover  Credit is provided based on the purity of gold and the price of your jewelry adjusted for Loan to value the ratio.
Q 2. What interest is charged Andhra Bank Gold Loan?
Ans. 10.70% is the minimum interest rate charged by the Bank.
Q 4. What is the tenure of Andhra Bank Gold Loan?
Ans: The tenure of Gold Loan is 3-12 months.
Q 5. What amount Gold Loan amount I can borrow from Andhra Bank Gold Loan?
Ans: Comaparatively, The applicant can get a loan amount of Rs. 10 thousand-2 crores at maximum for one year.
Q 6. How much does the Andhra Bank Gold Loan charge a processing fee?
Ans: The processing fee charged is 0.
Q 7. Is age an eligibility criterion in getting a Gold loan?
Ans: Yes, age is a factor to apply for a Gold loan. The minimum age of the applicant should be 18years.
Q 8. Do prepayment charges on a Gold loan from Andhra Bank Gold Loan apply?
Ans: The pre-closure charges are 0.