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||7.0% per annum|
|Central Bank of India Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,268
|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:
- Fast Process: Approval and disbursal of gold loan is very fast and effortless. The loan usually gets passed within an hour.
- Limited Documents: Only the vital documents are required. The process of documentation is to the point and quick.
- Lower Rate of Interest: Gold loans, provides a loan at a low rate of interest than others as it is a secured loan.
- Transparent System: The bank tries its best to be fully transparent to the customer; that is, no hidden charges are applied.
- Amount of Loan: The minimum loan amount that Central Bank of India provides to the customer is Rs. 15000. Also, It can be less than Rs 10000 in rural areas.
- Safety and security: One important thing is that you can totally count on the bank for the security of your gold. Thus, the gold is kept in fireproof protection.
- Tenure of Loan : The tenure period of loan can be from 3 months to 2 years. Therefore, you can choose according to your comfort levels.
- Benefits for Farmers: Central Bank of India has provision of some special offers for the farmers. That is, the bank offers a comparatively low Gold loan interest rate for agricultural purposes.
- No Debt Burden: There can arise some situations in which an applicant cannot repay the loan sum in such a case the lender will not be under debts as the bank will seize the ornaments.
- No Income bounds: There are not any limitations on the income or salary of the lender; hence, anyone with any income range can apply for 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:
Your loan can be approved if the following criteria are met:
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:
Only vital documents are required for gold loan approval. These are given below:
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:
A very low interest is applied in a gold loan as compared to other loans as it is a secured loan.
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:
Central Bank of India is one of the oldest and largest banks in India. It is a public sector bank. It is also one of the most reputed banks in India. Central Bank of India Gold Loan avails the highest funding to the customer. The Bank offers banking and financial services at a very reasonable rate of interest.
If you need a financial help through immediate funds to fulfill the dreams, personal needs, wedding parties, business expansion and medical emergency etc, then the gold loan is the right choice for you.
- Central Bank of India Gold Loan Interest Rate is 7.0% per annum
- Central Bank of India Gold Loan Per Gram is ₹ 5,268
- 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 IndiaGold Loan:
Central Bank of India offers various schemes regarding the Gold Loan products which are given below:
- Loan Against Gold – If you have an urgent need of funds, you can apply for a gold loan. Central Bank of India provides Gold Loan at considerably lower rates of interest to fulfill anyone’s immediate need of money for any purpose whether personal or professional. The gold loan is a fully secured form of loan and therefore, the bank has no risk in lending the amount to the applicant.
- Loan Against Gold for Agriculture – Central Bank of India provides special Gold Loans specifically modified for agriculture purposes of farmers, that is, they are provided a loan at a special rate of interest. They are given special offers and they need to supply the bank Land proofs for which they are 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?
You can repay your gold loan EMI in the following three different ways:
- Standing Instruction (SI): If you are currently an account holder in Central Bank of India, Standing Instruction is the best and most dependable method of reimbursement of your sum. Your EMI sum will be credited automatically towards the end of every month from the HDFC Bank account you show for paying EMI.
- Electronic Clearing Service (ECS): You can avail this program if you have a non-Central Bank of India account and you might need your EMIs to be debited automatically near the end of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can show post-dated EMI analyses from a non-Central Bank of India statement at your nearest HDFC Bank Loan Center. A new variety of PDCs would be presented straight away. It will be great if you make note that Post Dated Checks will be collected non-ECS states.
Central Bank of India Gold Loan Contact Number:
Call 9878981144 and get immediate assistance and approval for your Central Bank of India Gold Loan. We can guide you through all the best offers on Gold Loan available from all the Central Bank of India Branches throughout the country and you can avail the best deal suitable to you.
Gold Ornaments Accepted by Central Bank of India:
- Gold Jewellery: viz., Gold Bangles, Gold rings, Gold anklets, Gold necklaces, etc. Central Bank of India agrees to receive all of these for availing a Gold Loan.
- Quality: The quality of gold you give should be between 18 Carat to 22 Carat. Any gold ornament which is 24 Carat, cannot be used while applying for a gold loan.
Use of Central Bank of India Gold Loan:
The money you acquire after approval of Central Bank of India Gold Loan can be used for several purposes such as:
- To finance any specific investments such as installment of higher tuition payments, matrimony, hiking, etc.
- To fund all your marketing requirements, viz. buying fresh supply, development of markets, etc., loans are available.
- Additionally, you can also avail a Gold Loan for garden cultivation and management. The bank provides lower prices of interest for Gold Loans that are consumed for farming or related projects.
Gold Loan Interest Rate of Major Banks
7.00% – 14.50%
|7.00% – 16.10%|
|Muthoot Finance Gold Loan||
7.00% – 24.00%
|7.00% – 17.00%|
|Manappuram Gold Loan||
7.00% – 26.00%
|7.00% – 15.99%|
|Bank of India Gold Loan||
7.00% – 26.00%
|7.00% – 13.50%|
|IIFL Gold Loan||
7.00% – 12.00%
|7.00% – 14.65%|
7.00% – 12.65%
|Allahabad Bank Gold Loan||
7.00% – 10.45%
|7.00% – 15.75%|
|PNB Gold Loan||
7.00% – 11.75%
|7.00% – 26%|
|SBI Gold Loan||
7.00% – 15.99%
|7.00% – 15.99%|
|UCO Bank Gold Loan||
7.00% – 26.00%
|7.00% – 13.50%|
|Syndicate Bank Gold Loan||
7.00% – 12.00%
FAQs About Central Bank of India Gold Loan:
What is Central Bank of India Gold Loan?
Central Bank of India Gold Loan is a loan scheme that you can avail and get immediate funds by pledging your gold. It also comes with considerably lower interest rates on Term Loan, Overdraft, and EMI based loan. Average Gold Loan disbursal time at Central Bank of India is just 45 minutes.
How can I get the Gold Loan from Central Bank of India?
You can avail Central Bank of India Gold Loan by paying a visit to any of the nearest gold loan offering branch of Central Bank of India with the documents or you can simply apply online with Dialabank from your home and get the best deals and offers. Central Bank of India is one of the leading banks in India that provides Gold Loan service.
What is Gold Loan Interest Rate in Central Bank of India?
The Gold Loan interest rate in Central Bank of India is 7.0% per annum. The interest rate usually depends upon a limited number of factors, namely: loan amount, loan tenure, purity of gold, and relationship with Central Bank of India.
How much Gold Loan can I get per gram in Central Bank of India?
The per gram Gold Loan in Central Bank of India which you can get basically depends upon the purity of your gold. Central Bank of India accepts gold of purity between 18 carats to 22 carats and not 24 carrats. You can avail up to ₹ 5,268 Per Gram in Central Bank of India Gold Loan
How to check Gold Loan status in Central Bank of India?
Whenever you want to check your Central Bank of India Gold Loan status you just need to go to the Central Bank of India Loan Status Tracker web page and fill in your details in the form provided there. You can very easily track the status of your loan and stay updated.
How to calculate Gold Loan Interest in Central Bank of India?
If you want to know the interest on the your Central Bank of India Gold Loan you can do that using Dialabank’s EMI Calculator which gives you accurate amount based on the information you provide to the calculator.
How to Pay Central Bank of India Gold Loan Interest Online?
You can pay your Central Bank of India Gold Loan interest online through net banking on the official HDFC loan repayment web page or on the other hand, you can also repay your Central Bank of India Gold Loan through Paytm, using your preferred payment method.
What if I can’t pay the interest on Central Bank of India Gold Loan for 3 months?
If you are not able to pay your Central Bank of India Gold Loan within the period of 3 months, the bank will first try to remind you of your unsettled dues. If the payment requests are unheard, an official legal notice is sent to the lender demanding the repayment of the loan. Loan Defaulting will result in a downfall of your credit score and will also make you accountable to face legal actions by the bank including confiscation and sale 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 now between 1st March and 31st August 2020 and has to be done by making a contact with the Bank customer care or visiting the closest Central Bank of India branch.