Allahabad Bank Gold Loan

Gold Loan @ 7%

Apply & Get Instant Money

Allahabad Bank Gold Loan Key Features

Loan Amount Up to Rs. 1 Crore (With Income Proof)
Allahabad Bank Gold Loan Interest Rate 7.0% per annum
Allahabad Bank Gold Loan Per Gram Rate Per Gram Today is ₹ 5,268
Processing Fee 1.50% of the Principal Loan Amount
Prepayment Charges 2%+GST (Within 3 Months), 0 (After 3 months)
Repayment Tenure 3 Months to 24 Months
Repayment Scheme Bullet Payment Scheme, Overdraft Scheme

All About Allahabad Bank

You can overcome your financial crises with the best possible option; Gold Loan. No need to wait so long or stand in a queue for the approval of your loan. Get instant approval and hassle-free process. Available on simple documentation. So, apply for Allahabad Bank Loan against Gold and avail the best offers on your product.

What is Allahabad Bank Gold Loan?

Gold loan is a secured loan, as the loan is given by the banks against gold security. Banks give borrowers loan by keeping gold ornaments and coins, which is returned back to the loan borrower once he returns the due. The borrower keeps his gold ornaments as collateral with the lender and takes the money against those ornaments. Many go for the fulfilment of their short term goal through gold loans, such as their child’s education, marriage or other family problems. Step ahead to BookMyLoans to grab the best offer from Allahabad Bank.allahabad bank gold loan

Advantages of Taking Gold Loan

  1. Easy and Hassle-free Process.
  2. Approval in 30 minutes.
  3. Simple Documentation.
  4. Dedicated Assistance.
  5. No salary certificate or credit card history is required.
  6. Lowest Interest Rate.

Interest Rate of Allahabad Bank

  1. Generally, gold loan is available at the interest rate of 7%.
  2. ROI for tenure less than 1 year is also available at 7%.
  3. Processing fees is 1%*.
  4. The borrower will be given an option to pay only interest during the entire term and at the end of the tenure, you can pay the complete borrowed amount in a single shot.

Eligibility for Allahabad Bank

  1. Minimum age of applicant: 21 years.
  2. Maximum age of applicant at loan maturity: 65 years.
  3. Gold jewelry should be owned by the applicant or any of the family members.
  4. The gold ornament submitted should be at least 18 carats or above.
  5. The gold loan can be availed by an applicant who has at least 10 grams of gold.

Documents for Loan from Allahabad Bank

  1. Identity Proof (Passport Copy/ Voters ID card/ PAN Card/Aadhaar Card).
  2. Address Proof(Passport/ Electricity Bill/Telephone bill/ Aadhaar Card).
  3. Signature Proof ( Passport/ PAN Card/Banker’s verification/ cheque).
  4. 2 passport size photographs.

How to Apply?

  1. The applicant has to mortgage his gold to the Bank in return for the loan amount. The in-house jewelers access your gold in terms of quality and quantity.
  2. Then, according to the market value of gold, the bank gives the finances to the borrower the cash equivalent to around 70%-75% of the value of their gold.
  3. Now, the bank has the possession of your gold ornaments until the full repayment of the loan amount is done.
  4. Finally, when you repay the whole amount, the bank returns the gold to the customer.

This process is available online also. You can apply on www.bookmyloans.in

Gold Loan Interest Rate of Major Banks

Bank

 Interest Rates

HDFC Bank Gold Loan

7.00% – 14.50%

ICICI Gold Loan

7.00% – 16.10%
Muthoot Finance Gold Loan

7.00% – 24.00%

Axis Bank Gold Loan

7.00% – 17.00%
Manappuram Gold Loan

7.00% – 26.00%

Yes Bank Gold Loan

7.00% – 15.99%
Bank of India Gold Loan

7.00% – 26.00%

Federal Bank Gold Loan 

7.00% – 13.50%
IIFL Gold Loan

7.00% – 12.00%

Central Bank of India Gold Loan

7.00% – 14.65%

Canara Bank Gold Loan

7.00% – 12.65%

Allahabad Bank Gold Loan

7.00% – 10.45%

Induslnd Bank Gold Loan

7.00% – 15.75%
PNB Gold Loan

7.00% – 11.75%

Bajaj Finance Gold Loan

7.00% – 26%
SBI Gold Loan

7.00% – 15.99%

Indian Bank Gold Loan

7.00% – 15.99%
UCO Bank Gold Loan

7.00% – 26.00%

Kotak Mahindra Bank Gold Loan

7.00% – 13.50%
Syndicate Bank Gold Loan

7.00% – 12.00%