Karnataka Bank Gold Loan is the best finance you can take help of when in need of fulfilling urgent expenses. The KBL Agri Gold Loan Scheme is also known as the Karnataka Bank Gold Loan Scheme. It is specific and is created to meet the expenditure which is agricultural in nature. Hindu Undivided Families (HUFs), corporate and farmers can avail of the facility. Peasants can apply for this scheme in association with someone or individually.
|Karnataka Bank Gold Loan Details Updated on 18th January 2020|
a) Rs 1, 00, 00,000 per borrower
b) Rs. 25, 00,000 per account
c) Rs. 3, 00,000 for Agri Subvention
At Loanbaba.com, you can also access Karnataka bank EMI calculator and know Karnataka Bank gold loan eligibility, documents required for gold loan, and gold loans interest rates in Karnataka bank for free. Loanbaba.com provides all the information about Gold Loan Karnataka Bank.
Karnataka Bank has attractive offer on gold loan. It charges nominal rate of interest. The loan amount can be used for desirable purpose. Loan tenure is flexible and one can get maximum amount as per the gold weight. The procedure for loan sanctioning is transparent and the bank has helped several customers fulfil their financial needs with loan against gold.
The bank accepts all the jewellery and ornaments made of gold for granting loan against gold. Minted gold metallic money sold in banks is readily accepted. Gild coin’s mass exceeding from fifty grams per borrower is prohibited.
Rupees three lakh (maximum) is lent to candidates borrowing for agricultural subvention. For agricultural production purposes rupees twenty five lakh (maximum) is given to each account and rupees one lakh (maximum) is given to each borrower.
The principal amount of the credit must be returned before or on the date of maturity. The interest may be paid on the due date or on yearly basis. An interest rate of eighteen percent (Goods and Services Tax) will be added to all banking commodities and services starting from first of July, 2017.
Loanbaba provides comprehensive information about gold loans online by Karnataka Bank. Keep a note of this page to stay updated with recent information on this bank loan scheme. You can also quickly apply for Loan against gold online on the bank's official website without having to visit the bank branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.
Interest rate of Gold Loan in Karnataka Bank is 7% per year. The Karnataka bank gold loan interest rate is discounted for loan on agricultural subvention.
Rate of interest for loan against gold depends on the current rate set by bank and product variant.
Gold loan eligibility may differ from one candidate to another. You can also use free-of-cost Karnataka Bank gold loan eligibility calculator at Loanbaba.com
Karnataka Bank has gold loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.
Below provided are important questions about gold loan Karnataka Bank.
The gold promised to bank as for credit money serves as collateral security. Crops and property are to be hypothecated as primary guarantee.
For both agricultural subvention and production the bank provides, highest loan tenure is one year on gold loans.
For Agricultural subvention and production the scheme offers loan in exchange of gold as security. According to the instructions of the central government of India, agricultural subvention is carried out in semi urban as well as the rural bank branches.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Karnataka Bank.