Gold Loan is useful in many essences, but most important is that your gold will be at the safest place. Besides that, Karnataka bank takes full guaranty of your gold. Even if you want to put your gold in bank lockers safely and securely, then you have to pay to the bank for it, but the bank provides you locker only not security. So it’s better to get a Gold Loan, you will get money and security at the same time. Bank will be responsible for any miss happening. Karnataka Bank Gold loan is available at very fewer interest rates in many banks.
Why Karnataka Bank Gold Loan?
Karnataka Bank Gold Loan provides you many features and benefits.
The loan sanction and disbursal process are fast and straightforward. The documents required are simple, and after submitting the necessary documents, the loan is issued instantly. Disbursement can be made either by a credit to the Savings Account or Current Account or any other appropriate account of the borrower.
The bank charges low-interest rates for Gold Loans so that the customers can afford the loan repayment easily without having to worry about the high-interest rates.
Eligibility of Karnataka Bank Gold Loan
There are some conditions that the applicant should fulfill to get a gold loan. These are written below
- Age of the applicant should be more than 18 years and less than 75 years.
- Applicant should have gold in the form of coins/ jewelry/bricks. But the purity of the gold should be 18 carats to 22 Carat.
Karnataka Bank Gold Loan Interest Rate
- Interest rate starts from 10.49% of the principal amount for general purpose.
- Bank will provide you up to Rs. 20 Lakhs Bank will accept gold in all forms with purity 18 karat to 22 karats. You have to return the amount of loan within 24 months.
Basically, the rate of interest depends on the reason for which loan is taken, i.e., for
Agriculture purpose (10.20% – 12.20%)
Personal Medical Purpose (12.45% – 14.20%)
Business Purpose (12.45% – 14.20%)
Karnataka Bank Gold Loan Documentation
- The whole process is straightforward and simple. Documents required in the straightforward form. You instantly get a gold loan after issuing the documents. 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.
- Two passport size photos, a passport is needed because a passport has a name, age, address, and a photograph of the customer. If you have 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). Electricity and water bill for the last three months 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 the financial frauds. So it is also considered as an identity/residence proof. Pan card is an essential document under KYC (know your customer)
- Ration card also can be a residence proof because it provides enough information about the applicant.
About Karnataka Bank
Karnataka Bank Limited is a Scheduled Commercial Bank based in Mangalore in Karnataka, India. Karnataka Bank Limited has a network of 849 branches, 1374 ATMs and 330 e-lobbies/mini e-lobbies across 22 states and two union territories. It has 8,300+ employees and over 10 million customers throughout the country. Over 1,85,000 shareholders privately own its shares. The tagline of the bank is “Your Family Bank Across India.”
How to Apply for Gold Loan
First of all, visit our site at www.lendingwale.com.
Fill all the essential details mentioned and wait, our Relationship Manager will contact you as soon as possible and help you get Gold Loan
Gold Loan Interest Rate of Major Banks
|HDFC Bank Gold Loan||10.00% – 14.50%|
|ICICI Gold Loan||10.00% – 16.10%|
|Muthoot Finance Gold Loan||12.00% – 24.00%|
|Axis Bank Gold Loan||14.50% – 17.00%|
|Manappuram Gold Loan||19.00% – 26.00%|
|Yes Bank Gold Loan||10.00% – 15.99%|
|Bank of India Gold Loan||19.00% – 26.00%|
|Federal Bank Gold Loan||11.75% 13.50%|
|IIFL Gold Loan||12.00% – 12.00%|
|Central Bank of India Gold Loan||12. 90% – 14.65%|
|Canara Bank Gold Loan||12.65% – 12.65%|
|Andhra Bank Gold Loan||11.70% – 10.45%|
|Induslnd Bank Gold Loan||11.15% – 15.75%|
|PNB Gold Loan||10.75% – 11.75%|
|Bajaj Finance Gold Loan||14% – 26%|
|Bandhan Bank Gold Loan||11.5% – 14.5%|
|Karnataka Bank Gold Loan||14% – 16%|
|SBI Gold Loan||11.05%-15%|
|Indian Bank Gold Loan||10.00% – 15.99%|
|UCO Bank Gold Loan||19.00% – 26.00%|
|Kotak Mahindra Bank Gold Loan||11.75% – 13.50%|
|Syndicate Bank Gold Loan||12.00% – 12.00%|
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