Union Bank Of India Gold Loan

Gold Loan at 1%* p.m.

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Union bank of india gold loan

Union bank of india gold loan helps their customers obtain their various monetary requirements like medical emergency, travel, wedding etc. For easiness of customers the Bank is committed to easy documentation as well as quick allotment with the motive to help customers to avail a lot of services and making their life easier by being better at finance management.

Why opt for Union bank of india gold loan

Uniquely, union bank of india grants you Gold Loan starting at Rs.10000 to Rs.15 lacs depending on the client’s financial power, cibil 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.
Also, no Guarantor or Cosigner is required to avail the Loan.

Eligibility

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 23 years.

Self-Employed

Eligible Age: The Minimum age to apply for a Personal Loan is 19 years.

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

 Interest rate

Interest rates start from 10- 16% and vary according to the following reasons;
Profile of Customers

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

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.

About union bank of india

Union Bank of India was registered on 11 November 1919 as a limited company in Mumbai and was inaugurated by the father of the nation, Mahatma Gandhi. When india became independent,the bank had around four branches – three in Mumbai and one in gujrat, in trade centres. When the Indian government nationalized this bank in 1969, it had approximately 240 branches. In 1975, Union Bank of India bought Belgaum Bank, a private sector bank established in 1930 that had itself merged in a bank in 1964, the Shri Jadeya Shankarling Bank.

FAQs (Frequently Asked Questions)

Q1. Why should I take a gold loan from union bank of india?
Ans. Union bank of india 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?
Ans. 10.70% is the minimum interest rate charged by the Bank.
Q 4. What is the tenure?
Ans: The tenure of Gold Loan is 3-12 months.
Q 5. What amount Gold Loan amount I can borrow?
Ans: Comaparatively, The applicant can get a loan amount of Rs. 10 thousand-2 lacs at maximum for three year.
Q 6. How much is the processing fee?
Ans: The processing fee charged is 1% for gst.
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 charge on a Gold loan from union bank of india apply?
Ans: The pre-closure charges are 0.