Union Bank Gold Loan

Gold Loan @ 7%

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Union Bank Gold Loan Key Features

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

Advantages of Union Bank Gold Loan:

  • Quick Process: Union Bank loan is accepted and distributed very fast and with no issues. The loan gets sanctioned in an hour.
  • Lesser Documentation: The documentation process of this loan is clear and fewer, necessary reports are required for the Union Bank gold loan.
  • Transparent System: The bank provides its best to get full transparency to the client; that is, there aren’t any hidden charges from you.
  • Amount of Loan: The minimum base quantity of loan that Union Bank provides to its shopper is Rs. 15000. Likewise, it should not be over Rs 10 thousand in rural zones.
  • Safety of Jewelry: One outstanding issue to note is that the bank is reliable altogether for the protection of your gold. consequently, the gold is unbroken in the fire-resistant vault.
  • Loan Tenure: The tenure of the loan can vary from 3 months to a couple of years. Henceforth, you can prefer a decision as per your comfort.
  • Advantages for Farmers: Union Bank provides some extraordinary proposals for agricultural usage. That is, the bank offers a somewhat lower Gold loan charge per unit for agricultural use.
  • No Burden of Debt: There is also circumstances throughout that the investor is not able to repay the loan amount, in such a state of affairs the loaner will not be beneath any obligation, as a result, the bank will alone confiscate the gold jewellery.
  • No Income Restrictions: There aren’t any restrictions on the regular payment or income of the loaner, henceforth, anybody with any pay vary can avail a gold loan

How Much Gold Loan can I Get through Union Bank Gold Loan:

 Union Bank 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

 Union Bank Gold Loan Eligibility:

Age

18-70 years of age

Nationality

Indian

Employment Status

Salaried, Self-Employed

Gold Quality

Minimum 18 Carats

 Union Bank Gold Loan Documents Required:

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)

 Union Bank Gold Loan Interest Rate, Fees, and Charges:

Gold Loan Interest Rate

7.00% per annum

Processing Fee

1.50% of the Principal Loan Amount

Prepayment/Foreclosure Charges

2%+GST (Within 3 Months), 0 (After 3 months)

Valuation Fee

Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs

Late Repayment Charges

2% p.a. + Applicable rate of interest.

Renewal Processing Fees

Rs 350 + GST

About Union Bank Gold Loan:

Sometimes there come situations in lives where you may want cash to cope up with money hurdles in your life. during this case, you’ll be able to get a Gold Loan to fight with the money crisis. A gold loan could be a secured loan. Thus the individuals with low CIBIL score may simply avail of this service. Union Bank Gold Loan is one in all the simplest gold loans in Union Bank.

Though there are loads of money banking and non-banking firms that give you a gold loan, Union Bank is one of the largest government-owned banks in India. The bank is listed in Forbes and inaugurated by Mahatma Gandhi at the time of independence. If you have a need for Gold then go for Union Bank Gold Loan.

  • Union Bank Gold Loan Interest Rate is 7.0% per annum
  • Union Bank Gold Loan Per Gram is ₹ 5,268
  • Union Bank Gold Loan Tenure: Up to 24 months
  • Union Bank Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST

Types of Union Bank Gold Loan:

Union Bank offers varied schemes hooked up to the Gold Loan product that ar listed below:

  • Loan Against Gold – Union Bank provides Gold Loan at enticing rates of interest to satisfy anyone’s dire need of funds for any purpose whether or not personal or skilled. The gold loan could be an absolutely secured sort of loan and so, the bank has no risk in loaning the number to the individual, therefore, it’s provided at a lower rate of interest compared to alternative varieties of Loan merchandise.
  • Loan Against Gold for Agriculture – Union Bank provides Gold Loans specifically for agriculture functions to farmers at a special rate of interest as compared to gold loans given for alternative uses. they’re given special offers and they have to produce the bank Land proofs that they’re taking the Loan.

Union Bank 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 Union Bank Gold Loan EMI?

Your Union Bank gold loan is often reimbursed within the following 3 alternative ways.

  • Standing Instruction (SI): If you’re currently an account holder with Union Bank, Standing Instruction is that the most dependable methodology of repayment. Your EMI quantity is going to be credited mechanically towards the end of the month to month amount from the Union Bank checking account you show.
  • Electronic Clearing Service (ECS): This program is often applied if you’ve got a non-Union Bank 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-Union Bank statement at your nearest Union Bank 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.

Union Bank Gold Loan Contact Number:

Call 9878981144 and acquire instant facilitate and approval for your Union Bank Gold Loan. You may be ready to apprehend the foremost effective offers on Gold Loan out there from all the Union Bank Branches throughout the country to avail the most effective deal applicable to your desires.

Gold Ornaments Accepted by Union Bank:

  • Gold jewellery for example Gold Bangles, Gold rings, Gold anklets, Gold necklaces, etc. all of those are accepted by Union Bank 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 Union Bank Gold Loan:

The funds obtained by availing the Union Bank 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

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%

 

FAQs About Union Bank Gold Loan:

  • What is Union Bank Gold Loan?

Union Bank Gold Loan is a loan scheme that you simply can avail for pressing financial problems by keeping your gold as collateral security with the bank. It additionally comes with engaging interest rates on Term Loan, Overdraft, and EMI based mostly on loan. The average Gold Loan disbursal time at Union Bank is simply forty-five minutes

  • How can I get the Gold Loan from Union Bank?

You can get Union Bank Gold Loan by visiting any of the gold loans providing branches of Union Bank otherwise you can apply online with BookMyLoans from the comfort and ease of your home and find the best deals and offers. Union Bank 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 Union Bank?

The Gold Loan rate in Union Bank is 7.0% 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 Union Bank

  • How much Gold Loan can I get per gram in Union Bank?

The per gram Gold Loan in Union Bank that you just will get depends on the purity of your gold. Union Bank accepts gold of purity between 18 carats to 22 carats to supply a Gold Loan. You can get approved of up to ₹ 5,268 Per Gram in Union Bank Gold Loan

  • How to check Gold Loan status in Union Bank?

In order to ascertain your Union Bank Gold Loan status, all you have to try to do is visit the Union Bank 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 Union Bank?

You can calculate the interest on your Union Bank Gold Loan by making use of the EMI Calculator which provides you correct amounts based on the data you enter into the calculator.

  • How to Pay Union Bank Gold Loan Interest Online?

You can pay Union Bank Gold Loan interest online through web banking on the official Union Bank loan reimbursement website or as an alternative, you’ll conjointly repay your Union Bank Gold Loan on Paytm using your most preferred payment technique.

  • What if I can’t pay the interest on the Union Bank Gold Loan for 3 months?

If you are unable to pay your Union Bank 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 Union Bank Gold Loan?

You can apply for EMI Moratorium on Union Bank Gold Loan currently between 1st March and 31st August 2020 and should be done by contacting the Bank client care or visiting the closest Union Bank Bank branch.