Vijaya Bank gold loan interest rate starts at 11% and is up to 17% per annum. However, the rate of interest may vary with loan amount availed, scheme of loan and tenure of loan. The interest rate is subject to change on periodic basis. A gold loan can help meet any financial requirement, be is for business or personal. You can use the funds for any activity such as agriculture, home repair, business expansion, medical emergency, education, travel, big-ticket purchase, etc.
At Loanbaba, you will get all details about gold loans by Vijaya Bank and interest rates applicable.
Vijaya Bank Gold Loan | Loan Details |
Loan Amount | Rs. 1000 minimum, maximum no limit |
Interest Rate | 11% to 17% |
Tenure | 12 months to 30 months |
Guarantor | Not applicable |
Type of Loan | Cash credit or Term loan |
Below-mentioned are details of Vijaya Bank Jewel Loan Interest Rate.
Below-given are features of Vijaya Bank gold loan rate and loan scheme.
Vijaya Bank gold rate starts at 11% and goes up to 17%. You can use Vijaya Bank gold interest rate calculator to understand how the rate of interest is calculated on the loan. Several factors are considered to determine a rate of interest, such as purity and weight of gold, loan amount, tenure, and other aspects, as mentioned below.
The loan amount will depend on purity and weight of gold, so does the interest rate. Higher the purity of gold asset, lower will be the rate of interest, and vice-versa.
Vijaya Bank offers a discounted rate of interest to existing customers. But new customers can also avail affordable rates if their repayment capacity is excellent, and the gold purity the highest.
A shorter tenure comes with higher rate of interest and a longer period applies lower rate of interest. Thus, it is wise to note the rate of interest over a loan period and select tenure based on your repayment capacity.
As per norms of RBI, you can get finance up to 75% of the gold’s market value. But the bank may offer a lower LTV as per the loan scheme. Lower rates of interest will apply on lending of higher LTV, and vice-versa.
Vijaya Bank gold loan eligibility is not only about meeting the age criteria, gold loan weight and purity, but also able to submit the required documents as follow:
Below-given are frequently asked questions on Vijaya Bank Gold Loan Interest Rate and jewel loan scheme.
This loan is generally sanctioned for a period of one year but can be renewed annually. The bank looks upon the account usage and renews the limit for a further period of one year.
The bank accepts 22 carat gold jewelleries or other gold ornaments bearing hallmark, as security for this loan. The approved jewel appraiser of the bank gives report regarding the quality of gold and the hallmark sign.
The bank has fixed its own limits per gram of gold to be sanctioned. The credit limit of the borrower is determined on the basis of these predetermined limits.
It is Rs. 50 thousand for urban/ metro/ Class A cities, Rs. 15 thousand for semi urban areas and Rs. 5 thousand for rural areas.
The margin requirements are 25 to 35 percent.
The benefits of the jewel loan are mentioned below.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Vijaya Bank for gold loan.
Vijaya Bank gold loan interest rate starts at 11% and is up to 17% per annum. However, the rate of interest may vary with loan amount availed, scheme of loan and tenure of loan. The interest rate is subject to change on periodic basis. A gold loan can help meet any financial requirement, be is for business or personal. You can use the funds for any activity such as agriculture, home repair, business expansion, medical emergency, education, travel, big-ticket purchase, etc.
At Loanbaba, you will get all details about gold loans by Vijaya Bank and interest rates applicable.
Vijaya Bank Gold Loan | Loan Details |
Loan Amount | Rs. 1000 minimum, maximum no limit |
Interest Rate | 11% to 17% |
Tenure | 12 months to 30 months |
Guarantor | Not applicable |
Type of Loan | Cash credit or Term loan |
Below-mentioned are details of Vijaya Bank Jewel Loan Interest Rate.
Below-given are features of Vijaya Bank gold loan rate and loan scheme.
Vijaya Bank gold rate starts at 11% and goes up to 17%. You can use Vijaya Bank gold interest rate calculator to understand how the rate of interest is calculated on the loan. Several factors are considered to determine a rate of interest, such as purity and weight of gold, loan amount, tenure, and other aspects, as mentioned below.
The loan amount will depend on purity and weight of gold, so does the interest rate. Higher the purity of gold asset, lower will be the rate of interest, and vice-versa.
Vijaya Bank offers a discounted rate of interest to existing customers. But new customers can also avail affordable rates if their repayment capacity is excellent, and the gold purity the highest.
A shorter tenure comes with higher rate of interest and a longer period applies lower rate of interest. Thus, it is wise to note the rate of interest over a loan period and select tenure based on your repayment capacity.
As per norms of RBI, you can get finance up to 75% of the gold’s market value. But the bank may offer a lower LTV as per the loan scheme. Lower rates of interest will apply on lending of higher LTV, and vice-versa.
Vijaya Bank gold loan eligibility is not only about meeting the age criteria, gold loan weight and purity, but also able to submit the required documents as follow:
Below-given are frequently asked questions on Vijaya Bank Gold Loan Interest Rate and jewel loan scheme.
This loan is generally sanctioned for a period of one year but can be renewed annually. The bank looks upon the account usage and renews the limit for a further period of one year.
The bank accepts 22 carat gold jewelleries or other gold ornaments bearing hallmark, as security for this loan. The approved jewel appraiser of the bank gives report regarding the quality of gold and the hallmark sign.
The bank has fixed its own limits per gram of gold to be sanctioned. The credit limit of the borrower is determined on the basis of these predetermined limits.
It is Rs. 50 thousand for urban/ metro/ Class A cities, Rs. 15 thousand for semi urban areas and Rs. 5 thousand for rural areas.
The margin requirements are 25 to 35 percent.
The benefits of the jewel loan are mentioned below.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Vijaya Bank for gold loan.
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