About Jana Small Finance Bank
Jana Small Finance Bank started its operations in 28th March 2018, and it is one of the tenth financial institutions which got the approval from RBI to set up a Small Finance Bank in 2015. It has a headquarter in Bengaluru. Currently, It is operating its functions in 19 states and 500 more branches will be operational in 19 countries at the end of 2019.
What is Gold Loan?
Gold loan is a loan against gold ornaments which is kept as security or collateral by banks. After proper verification of documents and the quality as well as the quantity of gold. It is a hassle-free process of taking a loan to meet your financial requirements.
Advantages of taking Jana Small Finance Bank
- Multipurpose Gold loan can be for any purpose as there is no restriction on the usage.
- Quick approval It can be avail with minimal paperwork, and less documentation required so its a fast and hassle-free process of taking a loan.
- Competitive interest It provides the loan at a lower interest rate as compared to the other competitors.
- Prepayment The Customer, can repay the loan amount before tenure without worrying about the fees and the charges.
- Collateral Held securely There is no requirement of any collateral and security against the gold loan.
- Quick and efficient servicing Disbursement of credit is very quickly within just 30 minutes.
Know More Gold Loan Features to Remember
Jana Small Finance Bank Interest Rates
The interest rate of Jana Small Finance Bank starts at 11.5% and can go up to 15.5% p.a. and the tenure of the loan is 3 12 months; further the amount of credit is from Rs 1000 to Rs 1 crore, or it may vary based on the value of gold.
Know more about: Gold Loan Interest Rate
Eligibility Criteria of Jana Small Finance Bank
Age: Minimum age of the applicant is 18 years and above.
Loan Amount: The loan amount may vary on applicant eligibility.
Quality of Gold: The quality of the gold should be 18 22 karats.
Profession: Regular income group, professionals, salaried, business persons, homemakers, and others.
CIBIL Score: Banks do not check the applicant credit score in case of a gold loan.
Documents required for Jana Small Finance Bank
| Photographs | Two passport size colored photos |
| Policy | Know Your Customer |
| Identity Proof | Aadhar Card/Pan Card/ Passport/ Voter ID/ Driving License. |
| Residence Proof | Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of applicant/ Rental Agreement of applicant/ Voter ID card. |
Know about the terms and conditions:
The fees and the charges are applicable under the Jana Small Finance Bank are offered as:
- Processing Charges 1% of the loan amount sanctioned plus the applicable service tax
- Overdue Charges 2% p.a over and above the applicable interest rate
- Foreclosure charges It can be up to 1% or Nil vary from bank to bank.
* fees that are to be paid when the loan is closed before the tenure is completed is called Foreclosure charges.
Jana Small Finance Bank Procedure
First of all, apply online on www.loannow.com.
Afterward, the customer has to fill the application form.
Then, the bank will keep evaluating the gold in terms of its weight and purity.
Finally, the Loan is approved after evaluating the real value of the ornaments.
Lastly, for any further queries against gold loan, our relationship managers are there to help you.
Know More Top Reasons why Gold Loan is the best borrowing option
Gold Loan Interest Rates: Updated
| Bank | Interest Rates |
| 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% |
| ManapYadgiram 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% |
| DCB 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% |