Andhra Bank Gold Loan

Gold Loan at 7.25% p.a

Apply & Get Instant Money

Andhra Bank Gold Loan Key Features

Andhra Bank Gold Loan Amount Up to Rs. 1 Crore (With Income Proof)
Andhra Bank Gold Loan Interest Rate 7.25% per annum
Andhra Bank Gold Loan Per Gram Rate Per Gram Today is ₹ 5,219
Andhra Bank Gold Loan Processing Fee 1.50% of the Principal Loan Amount
Andhra Bank Gold Loan Prepayment Charges 2%+GST (Within 3 Months), 0 (After 3 months)
Andhra Bank Gold Loan Repayment Tenure 3 Months to 24 Months
Andhra Bank Gold Loan Repayment Scheme Bullet Payment Scheme, Overdraft Scheme

Advantages of Andhra Bank Gold Loan:

  • Quick processing: The approval and disbursement method of the Andhra Bank Gold Loan is swift and quick. Usually, in an hour, the loan passes.
  • Low-interest rate: The interest rate for gold loans is much lower in comparison to other loans, as it is a secured loan.
  • Minimum Paperwork: The documentation process is clear and straightforward; it includes the minimum number of documents needed to accept a gold loan from the Andhra Bank.
  • Transparent system: We do not enforce secret fees on loans-the priorities of a bank.
  • Loan Sum: The minimum amount of loan available to customers is Rs. 15000. Sometimes, it may be less than Rs 10000 in remote areas.
  • Jewellery Security: We are responsible for the care of your jewellery. The gold, therefore, is contained in vaults that are fireproof.
  • Loan tenure: The tenure of gold loans can range from 3 months to 2 years. Depending on your convenience, you can establish an option for tenure.
  • Benefits for farmers: Some special incentives are provided for agricultural purposes by the Andhra Bank. This means that the bank provides farmers with a marginally lower rate of interest on gold loans for agricultural use.
  • No Debt Burden: We are mindful that there might be occasions where a borrower is unable to pay for the loan sum, in such a situation where the bank will only seize the ornaments held by you, hence, the lender will not be under debt.
  • No income restrictions: there are no such restrictions on the lender’s wages or income; anyone of any income range may also use a gold loan at any time.

How Much Gold Loan can I Get through Andhra Bank Gold Loan:

Andhra Bank Gold Loan Per Gram – Updated September 2020

Updated - Gold Loan Per Gram Rate

Gold Weight

Gold Purity

Gold Purity

Gold Purity

Gold Purity

24 Carat

22 Carat

20 Carat

18 Carat

1 gram

4680 4290 3900 3510

10 gram

46800 42900 39000 35100

20 gram

93600 85800 78000 70200

30 gram

140400 128700 117000 105300

40 gram

187200 171600 156000 140400

50 gram

234000 214500 195000 175500

100 gram

468000 429000 390000 351000

200 gram

936000 858000 780000 702000

300 gram

1404000 1287000 1170000 1053000

400 gram

1872000 1716000 1560000 1404000

500 gram

2340000 2145000 1950000 1755000

Andhra Bank Gold Loan Eligibility:

Age

18-70 years of age

Nationality

Indian

Employment Status

Salaried, Self-Employed

Gold Quality

Minimum 18 Carats

Andhra Bank Gold Loan Documents Required:

Photographs

2 Passport Size

Identity Proof

Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)

Residence Proof

Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)

Andhra Bank Gold Loan Interest Rate, Fees, and Charges:

HDFC Gold Loan Interest Rate

7.00% per annum

Processing Fee

1.50% of the Principal Loan Amount

Prepayment/Foreclosure Charges

2%+GST (Within 3 Months), 0 (After 3 months)

Valuation Fee

Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs

Late Repayment Charges

2% p.a. + Applicable rate of interest.

Renewal Processing Fees

Rs 350 + GST

About Andhra Bank Gold Loan:

If you are facing financial problems, solve them with the Gold Loan option that is most suitable. Loans provided for gold are called loans for gold. The borrower retains the gold jewel with the lender as security and receives cash. Get immediate consent and a hassle-free method. A short paper is at your disposal. A gold loan is a loan that is insured. This service can therefore be conveniently used even by individuals with a low CIBIL rank. Nonetheless, while there are several forms of financial banking and non-banking companies that provide gold loan services, Andhra Bank Gold Loans are the most common. These are a couple of India’s most reputed and valued banks. Besides this, for its very good financial services, it is popular. To apply for a Gold Loan from Andhra Bank and take advantage of the best deals for your product.

  • Andhra Bank Gold Loan Interest Rate is 7.25% per annum
  • Andhra Bank Gold Loan Per Gram is ₹ 5,219
  • Andhra Bank Gold Loan Tenure: Up to 24 months
  • Andhra Bank Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST

Types of Andhra Bank Gold Loan:

Andhra Bank provides multiple Gold Loan product-related schemes that are described below:

  • Loan Against Gold – Andhra Bank provides gold loans at interest rates for any purpose, whether personal or technical or not, to meet the urgent need for funds. Then the gold loan is definitely a secured loan; the bank has no risk of granting the amount to the individual, so compared to different types of loan merchandise, it is given at a lower rate of interest.
  • Agriculture Loan Against Gold – The Andhra Bank explicitly offers farmers gold loans for agricultural functions at a particular interest rate compared to gold loans provided for other uses. They are given special incentives, and they can turn out the bank land documents for which the loan is taken out.

Andhra Bank Gold Loan EMI Calculator:

Rate of Interest
6 months
1 Yr
2 Yrs
3 Yrs
7.00% 17008 8652 4477 3088
8.00% 17058 8699 4523 3134
8.50% 17082 8722 4546 3157
9.00% 17107 8745 4568 3180
9.50% 17131 8678 4591 3203
10.00% 17156 8791 4614 3227
10.50% 17181 8815 4637 3250
11.00% 17205 8838 4661 3274
11.50% 17230 8861 4684 3298
12.00% 17254 8885 4707 3321
12.50% 17279 8908 4731 3345
13.00% 17304 8932 4754 3369
13.50% 17329 8955 4778 3393
14.00% 17354 8979 4801 3418
14.50% 17378 9002 4825 3442
15.00% 17403 9026 4845 3466

How to Pay Your Andhra Bank Gold Loan EMI?

Currently, the Andhra Bank gold loan is repaid using the following three alternative methods:

  • Standing Instruction (SI): If you are already a holder of an Andhra Bank account, standing instruction is the shortest and most convenient method of payment. Your EMI number will be credited automatically from the Andhra Bank bank account displayed at the end of the month.
  • Electronic Clearing Service (ECS): Usually, this payment method is used if you have a non-Andhra Bank record, and you want to debit your EMIs from the account you registered with us near the month-to-month decline.
  • Post-Dated Checks (PDC): At your nearest Andhra Bank Loan Centre, you can disclose your post-dated EMI reports from a Non-Andhra Bank financial statement. There was a need to immediately grant a new version of PDCs. If you mention that, since they were, Post Dated Checks are progressing, it would be nice to gather non-ECS states.

Andhra Bank Gold Loan Contact Number:

Call 9878981144 to get instant support and approval for your Andhra Bank Branch Gold Loan. To use the most productive offer specific to your needs, you can easily get to know the most attractive Gold Loan offers out there from all Andhra Bank branches worldwide.

Gold Ornaments Accepted by Andhra Bank :

  • Gold jewels For eg, gold bracelets, gold bracelets, gold anklets, gold necklaces, etc. All these ornaments were purchased by the Andhra Bank for a gold loan.
  • Quality: Gold quality must range from 18 carats to 22 carats in value. In applying for a gold loan, any gold decoration that is 24 carats will not be included.

Use of Andhra Bank Gold Loan:

For multiple functions, the funds raised by the use of the Andhra Bank Gold Loan service can be used, such as:

  • The funding of other private investments, such as marriage, cycling, higher education rates, etc.
  • There are also loan services available for all of your marketing needs, such as getting materials, designing, promoting, etc.
  • In addition, you can also benefit from a Gold Loan for agricultural concepts. The bank has lower interest rates on gold loans that are used for agriculture or similar projects.

Gold Loan Interest Rate of Major Banks

Bank

 Interest Rates

HDFC Bank Gold Loan

7.25% – 14.50%

ICICI Gold Loan

7.25% – 16.10%
Muthoot Finance Gold Loan

7.25% – 24.00%

Axis Bank Gold Loan

7.25% – 17.00%
Manappuram Gold Loan

7.25% – 26.00%

Yes Bank Gold Loan

7.25% – 15.99%
Bank of India Gold Loan

7.25% – 26.00%

Federal Bank Gold Loan 

7.25% – 13.50%
IIFL Gold Loan

7.25% – 12.00%

Central Bank of India Gold Loan

7.25% – 14.65%

Canara Bank Gold Loan

7.25% – 12.65%

Allahabad Bank Gold Loan

7.25% – 10.45%

Induslnd Bank Gold Loan

7.25% – 15.75%
PNB Gold Loan

7.25% – 11.75%

Bajaj Finance Gold Loan

7.25% – 26%
SBI Gold Loan

7.25% – 15.99%

Indian Bank Gold Loan

7.25% – 15.99%
UCO Bank Gold Loan

7.25% – 26.00%

Kotak Mahindra Bank Gold Loan

7.25% – 13.50%
Syndicate Bank Gold Loan

7.25% – 12.00%

FAQs About Andhra Bank Gold Loan:

  • What is Andhra Bank Gold Loan?

The Andhra Bank Gold Loan is a type of loan that you can only use by keeping your gold as collateral with the bank for urgent financial support. Also included are Term Loan, Overdraft, and EMI interest rates, mostly loan dependent. In India, the average Gold Loan disbursement time is just 45 minutes.

  • How can I get the Gold Loan from Andhra Bank?

By visiting any of India’s gold loan approval branches, you can get an Andhra Bank Gold Loan; otherwise, you can apply online with LoanNow from the comfort of your home and get the best offers and deals. It is one of India’s few leading banks that offers gold loan facilities.

  • What is the Gold Loan Interest Rate in Andhra Bank?

In India, the gold loan rate is 7.25 per cent per annum. The interest rate usually depends on a number of components, including the size of the loan, the loan tenure, the purity of the gold, and your relationship with the bank.

  • How much Gold Loan can I get per gram in Andhra Bank?

The gold loan that you earn per gramme from the Andhra Bank depends on the purity of your gold. Andhra Bank accepts 18-carat and 22-carat purity gold in order to get a gold loan. On the Andhra Bank Gold Loan, you can use up to 5,219 per gramme.

  • How to check Gold Loan status in Andhra Bank?

You just need to go to the Andhra Bank loan status tracker web page and fill in your information with the published application to check your Andhra Bank Gold Loan status. You can directly track the status of your loan from anywhere and keep it updated.

  • How to calculate Gold Loan Interest in Andhra Bank?

By using the LoanNows’ EMI Calculator, you can calculate the interest on your Andhra Bank Gold loan interest, which gives you accurate amounts based on the data you insert into the calculator.

  • How to Pay Andhra Bank Gold Loan Interest Online?

On the official Andhra Bank loan repayment website or else, you can pay Andhra Bank Gold Loan interest directly online through internet banking; you can also repay your Andhra Bank Gold Loan using Paytm or any most popular payment form.

  • What if I can’t pay the interest on Andhra Bank Gold Loan for 3 months?

The bank will inform you of your uncompleted dues first if you fail to pay the Andhra Bank Gold Loan within three months. A formal legal notice concerning the repayment and termination of the loan is distributed if the payment demands go unanswered. Defaulting on your gold loan contributes to a decrease in your credit score that allows the bank to face legal proceedings, along with the confiscation of your gold sale.

  • How can I apply for EMI Moratorium on Andhra Bank Gold Loan?

Currently, you can apply for an Andhra Bank Gold Loan EMI moratorium between 1 March and 31 August 2020, and you must do so by contacting the customer service department of the bank or visiting the nearest Andhra Bank branch.