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 are very fast and effortless. The loan usually gets passed within an hour.
- Limited Documents: Only 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 the Central Bank of India gives to the customer is Rs. 15000. Moreover, 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. Therefore, your is kept in fireproof protection.
- Tenure of Loan: The tenure period of the loan can be from 3 months to 2 years. Therefore, you can make a choice according to your comfort levels.
- Benefits for Farmers: Central Bank of India has the 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
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
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
Age
Nationality
Indian
Employment Status
Gold Quality
Central Bank of India Gold Loan Documents Required:
Only vital documents are required for gold loan approval. These are given below:
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)
Central Bank of India Gold Loan Interest Rate, Fees and Charges:
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.
Gold Loan Interest Rate
7.00% per annum
Processing Fee
Prepayment/Foreclosure Charges
Valuation Fee
Late Repayment Charges
Renewal Processing Fees
Rs 350 + GST
About Central Bank of India Gold Loan:
Central Bank of India is few of the oldest and largest banks in India. It is a public sector bank. It is moreover 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 financial help through immediate funds to fulfil 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 for funds, you can apply for a gold loan. Central Bank of India provides Gold Loan at considerably lower rates of interest to fulfil anyone’s immediate need of money for any requirement whether private or professional. The gold loan is a totally secured form of Loan, and hence, the bank has no risk in loaning 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 with 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
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 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 Central Bank of India account you show for paying EMI.
- Electronic Clearing Service (ECS): You can avail of 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 period 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 Central Bank of India 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 in 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 the Central Bank of India Gold Loan can be used for several purposes such as:
- To finance any specific investments such as the instalment 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 of 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
|
Bank |
Interest Rates |
|
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 the 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. The average Gold Loan disbursal time at Central Bank of India is just 45 minutes.
-
How can I get the Gold Loan from the 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 a branch of Central Bank of India with the documents, or you can simply apply online with BookMyLoans from your home and get the best deals and offers. Central Bank of India is a few of the leading banks in India that provides Gold Loan service.
-
What is the 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 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 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 carats. 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 the Central Bank of India?
If you want to know the interest in your Central Bank of India Gold Loan, you can do that using BookMyLoans EMI Calculator which gives you an 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 Central Bank of India 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 the Central Bank of India Gold Loan for 3 months?
If you are unable to pay your Central Bank of India Gold Loan within a 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 contact with the Bank customer care or visiting the closest Central Bank of India branch.