Central Bank of India Gold Loan Key Features
|Central Bank of India Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Central Bank of India Gold Loan Interest Rate||7.25% per annum|
|Central Bank of India Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,219
|Central Bank of India Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Central Bank of India Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Central Bank of India Gold Loan Repayment Tenure||3 Months to 24 Months|
|Central Bank of India Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
Advantages of Central Bank of India Gold Loan:
- Quick Process: Central Bank of India loan is very convenient and dispensed very rapidly and without issues. The loan receives sanction in an hour.
- Lesser Documentation: The documentation manner of this loan is apparent and fewer, vital documents are required for the Central Bank of India gold loan.
- Transparent System: The financial institution tries its best to get complete transparency to the client; that is, there are not any hidden expenses from you.
- Amount of Loan: The minimal base amount of loan that the Central Bank of India presents to its consumer is Rs. 15000. Likewise, it has to not be over Rs 10,000 in rural zones.
- Safety of Jewelry: One extremely good point to note is that the bank is dependable altogether for the safety of your gold. consequently, the gold is intact in a fire-resistant vault.
- Loan Tenure: The tenure of the loan can range from three months to two years. Henceforth, you could decide on a selection according to your comfort.
- Advantages for Farmers: Central Bank of India presents a few splendid proposals for agricultural usage. That is, the bank gives a particularly decrease in the Gold loan rate for agricultural use.
- No Burden of Debt: There are likewise instances that the investor isn’t always capable of pay off the loan amount, in this sort of scenario the loaner will now no longer be under any responsibility as an end result in the bank will by myself confiscate the gold jewellery.
- No Income Restrictions: There are not any regulations at the salary or profits of the loaner, henceforth, anyone with any pay range can avail a gold loan
How Much Gold Loan can I Get through Central Bank of India Gold Loan:
Central Bank of India Gold Loan Per Gram – Updated September 2020
Updated - Gold Loan Per Gram Rate
Central Bank of India Gold Loan Eligibility:
18-70 years of age Salaried, Self-Employed Minimum 18 Carats
18-70 years of age
Minimum 18 Carats
Central Bank of India Gold Loan Documents Required:
2 Passport Size
Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
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)
Central Bank of India Gold Loan Interest Rate, Fees, and Charges:
1.50% of the Principal Loan Amount 2%+GST (Within 3 Months), 0 (After 3 months) Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs 2% p.a. + Applicable rate of interest.
HDFC Gold Loan Interest Rate
7.00% per annum
Late Repayment Charges
Renewal Processing Fees
Rs 350 + GST
1.50% of the Principal Loan Amount
2%+GST (Within 3 Months), 0 (After 3 months)
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
2% p.a. + Applicable rate of interest.
About Central Bank of India Gold Loan:
Sometimes there come conditions in lives in which you could need urgent money to manage up with cash hurdles to your life. All through this case, you will be capable of getting a Gold Loan to combat with the cash crisis. A gold loan is usually a secured loan. Thus the people with low CIBIL rating can also additionally, honestly, avail of this service. Central Bank of India Gold Loan is one in all of the best gold loans in Bharat.
Though there are hundreds of cash banking and non-banking corporations that come up with a gold loan, Central Bank of India is one of all the biggest banks in India.
- Central Bank of India Gold Loan Interest Rate is 7.25% per annum
- Central Bank of India Gold Loan Per Gram is ₹ 5,219
- Central Bank of India Gold Loan Tenure: Up to 24 months
- Central Bank of India Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST
Types of Central Bank of India Gold Loan:
Central Bank of India gives numerous schemes attached Gold Loan product that is indexed below:
- Loan Against Gold – Central Bank of India offers Gold Loan at an engaging rate of interest to fulfil anyone’s urgent requirement of the budget for any reason whether personal or skilled. The gold loan will be a sincerely secured kind of loan and so, the bank has no burden in loaning the variety to the individual consequently, it is supplied at a lower rate of interest as in comparison to opportunity types of Loan merchandise.
- Loan Against Gold for Agriculture – Central Bank of India offers different Gold Loans mainly for agriculture features to farmers at a unique rate of interest in comparison to gold loans given for other opportunity uses. They may be given unique offers and that they should produce the bank Land proofs that they may be taking the Loan.
Central Bank of India Gold Loan EMI Calculator:
Rate of Interest
How to Pay Your Central Bank of India Gold Loan EMI?
Your Central Bank of India gold loan is often reimbursed within the following 3 alternative ways.
- Standing Instruction (SI): Standing Instruction is the most dependable method of repayment if you’re currently an account holder with the Central Bank of India. Your EMI quantity is going to be credited mechanically towards the end of the month to month amount from the Central Bank of India checking account you show.
- Electronic Clearing Service (ECS): This program is often applied if you’ve got a non-Central Bank of India record and would possibly want your EMIs to be debited consequently close to the decline of the month to month cycle from this account.
- Post-Dated Checks (PDC): you can show post-dated EMI analyses from a non-Central Bank of India statement at your nearest Central Bank of India loan Center. a brand new version of PDCs ought to be given right away. It’ll be excellent if you note Post Dated Checks are going to be collected non-ECS states as it was.
Central Bank of India Gold Loan Contact Number:
Call 9878981144 and acquire instant facilitate and approval for your Central Bank of India Gold Loan. You may be ready to apprehend the foremost effective offers on Gold Loan out there from all the Central Bank of India Branches throughout the country to avail the most effective deal applicable to your desires.
Gold Ornaments Accepted by Central Bank of India:
- Gold jewellery for example Gold Bangles, Gold rings, Gold anklets, Gold necklaces, etc. all of those are accepted by the Central Bank of India for availing a Gold Loan.
- Quality: the standard of gold has got to be between 18 Carat to 22 Carat. Any gold ornament that is 24 Carat, can’t be used for availing a gold loan.
Use of Central Bank of India Gold Loan:
The funds obtained by availing the Central Bank of India Gold Loan service can be utilized for many functions such as:
- To finance any specific investments like matrimony, hiking, instalment of upper tuition payments, etc.
- For all of your marketing desires, like getting supplies, developing promoting, etc., loan service is procurable.
- You can furthermore avail of a Gold Loan for agriculture ideas. The bank provides lower costs of interest for Gold Loans that unit of measurement used for farming or connected comes.
Gold Loan Interest Rate of Major Banks
7.25% – 14.50%
|7.25% – 16.10%|
|Muthoot Finance Gold Loan||
7.25% – 24.00%
|7.25% – 17.00%|
|Manappuram Gold Loan||
7.25% – 26.00%
|7.25% – 15.99%|
|Bank of India Gold Loan||
7.25% – 26.00%
|7.25% – 13.50%|
|IIFL Gold Loan||
7.25% – 12.00%
|7.25% – 14.65%|
7.25% – 12.65%
|Allahabad Bank Gold Loan||
7.25% – 10.45%
|7.25% – 15.75%|
|PNB Gold Loan||
7.25% – 11.75%
|7.25% – 26%|
|SBI Gold Loan||
7.25% – 15.99%
|7.25% – 15.99%|
|UCO Bank Gold Loan||
7.25% – 26.00%
|7.25% – 13.50%|
|Syndicate Bank Gold Loan||
7.25% – 12.00%
FAQs About Central Bank of India Gold Loan:
What is the Central Bank of India Gold Loan?
Central Bank of India Gold Loan is a loan scheme that you easily can avail of for overcoming financial problems by keeping your gold as collateral security with the bank. It additionally comes with appealing interest rates on Term Loan, Overdraft, and EMI based mostly on loan. The average Gold Loan disbursal time at Central Bank of India is simply 45 minutes
How can I get the Gold Loan from Central Bank of India?
You can get a Central Bank of India Gold Loan by visiting any of the gold loans providing branches of Central Bank of India otherwise you can apply online with LoanNow from the comfort and ease of your home and find the best deals and offers. Central Bank of India is one in every one of the leading banks in the country that gives Gold Loan service.
What is the Gold Loan Interest Rate in Central Bank of India?
The Gold Loan rate in Central Bank of India is 7.25% every year. The interest rate usually depends upon a number of items, namely: loan tenure, loan quantity, the authenticity of gold, and your relationship with the Central Bank of India.
How much Gold Loan can I get per gram in Central Bank of India?
The per gram Gold Loan in the Central Bank of India that you just will get depends on the purity of your gold. Central Bank of India accepts gold of purity between 18 carats to 22 carats to supply a Gold Loan. You can get the approval of up to ₹ 5,219 Per Gram in Central Bank of India Gold Loan.
How to check Gold Loan status in Central Bank of India?
In order to ascertain your Central Bank of India Gold Loan status, all you have to try to do is visit the Central Bank of India loan status tracker web page and fill in your details within the structure given. You’ll simply be able to track the standing of your loan from anyplace and be updated.
How to calculate Gold Loan Interest in the Central Bank of India?
You can calculate the interest on your Central Bank of India Gold Loan by making use of the LoanNow’s EMI Calculator which provides you correct amounts based on the information you enter into the calculator.
How to Pay Central Bank of India Gold Loan Interest Online?
You can pay Central Bank of India Gold Loan interest online through web banking on the official Central Bank of India loan reimbursement website or as an alternative, you’ll conjointly repay your Central Bank of India Gold Loan on Paytm using your most preferred payment technique.
What if I can’t pay the interest on the Central Bank of India Gold Loan for 3 months?
If you are unable to pay your Central Bank of India Gold Loan due to some issues, within 3 months, the bank can initially prompt you of your unfinished dues. If the payment requests go unhearable an official legal notice is distributed regarding the reimbursement and closure of the loan. Defaulting on your Gold Loan ends up in a decrease of your credit score and conjointly causes you to vulnerable to face legal actions by the bank as well as arrogation and auction of your gold.
How can I apply for EMI Moratorium on Central Bank of India Gold Loan?
You can apply for EMI Moratorium on Central Bank of India Gold Loan currently between 1st March and 31st August 2020 and should be done by contacting the Bank client care or visiting the closest Central Bank of India Bank branch.