Karur Vysya Bank gold loan is one of the easiest ways of finance. Usually people use a jewellery loan for business and personal purposes such as working capital, renting workplace, wedding, medical emergency, farming, home repair, travel, education, etc. Some of the popular jewel loan schemes by Karur Vysya are Swarnamitra in the form of overdraft and other short-term loans for personal and non-agricultural purposes.
At Loanbaba, you will get all the details about Karur Vysya Bank jewel loan.
Karur Vysya Bank Gold Loan |
Details |
Loan Amount |
Rs. 5,000 to Rs. 75 lakhs |
Interest Rate |
8.90% to 11.10% |
Tenure |
Up to 12 months |
Below-mentioned are benefits of Karur Vysya Bank gold loan, and why to choose it to finance your needs.
Following are the features of jewel loan by the bank.
Below-provided is the Karur Vysya Bank gold loan rate MCLR basis per gram rate.
Gold Loan Schemes |
Maximum Loan Amount |
Current Rate Per Gram Rate in Rs. From 2019 |
MCLR Interest Rate |
Agricultural gold loan for 12 months |
Amount based on extent of cultivation and land. |
Rs. 2250 |
Six month MCLR 9.35% for amount up to Rs. 1 lakh. One year MCLR 9.65% for an amount more than Rs. 1 lakh. |
Quick jewel loan for agricultural purpose up to 6 months |
Rs. 25 lakhs |
Rs. 2300 |
8.90%, three month MCLR for amount up to Rs. 1 lakh. 9.65% one year MCLR for amount more than Rs. 1 lakh. |
Jewellery loan for trade up to 12 months |
Rs. 25 lakhs |
Rs. 1950 |
One year MCLR 9.65% + 1.45% = 11.10%. |
Quick jewel loan for trade up to 6 months |
Rs. 25 lakhs |
Rs. 2050 |
One year MCLR 9.65% + 1.45% = 11.10%. |
Jewel loan for other purposes up to 12 months |
Rs. 25 lakhs |
Rs. 1950 |
One year MCLR 9.65% + 1.45% = 11.10%. |
Quick jewel loan for other purposes up to 6 months |
Rs. 25 lakhs |
Rs. 2050 |
One year MCLR 9.65% + 1.45% = 11.10%. |
Swarna Mithra Scheme Overdraft |
Rs. 75 lakhs |
Rs. 2050 |
One year MCLR 9.65% + 1.45% = 11.10%. |
You can determine the rate of interest, your loan eligibility, and EMI amount to pay by using free tools on our website. For instance, Karur Vysya Bank gold loan EMI calculator will help understand the interest component and principal component combined together that you have to pay every month. On the other hand, Karur Vysya Bank gold loan eligibility calculator will help you know the loan amount you are eligible for based on your existing financial liabilities and EMIs.
To understand the rate of interest applicable, you may refer the loan aspects considered by Karur Vysya Bank Gold Loan Interest Rate Calculator:
Below-given is a procedure to apply for gold loan online at the bank.
Listed below are the details of Swarnamitra jewel loan.
Loan amount |
Rs. 5,000 to Rs. 75 lakhs |
Tenure of repayment |
The overdraft facility is available for 12 months. You can get it renewed. However, it shall be possible only at the discretion of the banking authority. |
SCHEME |
ROI (floating) p.a. |
Swarnamitra |
One Year MCLR + 1.45% |
Collateral |
You have to pledge gold jewellery. The asset must be at least 22 Carats. |
Guarantee requirement |
NA or optional |
Processing fee |
0.50% of the loan amount including the appraisal fee |
Other Terms & Conditions |
Interest amount should be paid monthly. Only people having gold Jewelleries can avail these loans. No jewellery exchange shall be allowed. Any outstanding overdue if not paid by borrower, will be recovered by repossessing gold assets and auctioning these. |
Below-mentioned are documentation for jewellery loan.
Following are frequently asked questions about gold loan Karur Vysya Bank.
Loans against gold for non-resident Indians are designed to meet the immediate cash requirements of customers in financial emergencies. They can avail funds for trade and personal reasons. Maximum loan amount is Rs. 25 lakhs, starting at 11.10%.
Those from the agricultural sector can apply for a loan against gold at Karur Vysya Bank and get funds between Rs. 10,000 and Rs. 25 lakhs. Tenure of loan is between 6 months and 12 months. All farmers who engage in short-term crop production are eligible for this loan.
You can repay on EMI basis. There may be bullet repayment scheme for a few customers. It is best to enquire at the bank for a suitable repayment option as per your need and the loan against gold scheme.
Even after repeated communication by the bank, you fail to repay the loan in complete within the tenure and stipulated grace period, then the bank has all the rights to auction the pledged gold ornaments in order to recover the outstanding dues.
You can walk-in to the nearest bank branch and ask for the loan details and application form. Do carry all the required documents and its hard-copies for verification and documentation procedure. Also, you have to submit the collateral gold for valuation so that a loan amount, rate of interest, and tenure can be determined as per your suitability. The loan amount however will be transferred to your bank account.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of State Bank of India.
Karur Vysya Bank gold loa is one of the easiest ways of finance. Usually people use a jewellery loan for business and personal purposes such as working capital, renting workplace, wedding, medical emergency, farming, home repair, travel, education, etc. Some of the popular jewel loan schemes by Karur Vysya are Swarnamitra in the form of overdraft and other short-term loans for personal and non-agricultural purposes.
At Loanbaba, you will get all the details about Karur Vysya Bank jewel loan.
Karur Vysya Bank Gold Loan |
Details |
Loan Amount |
Rs. 5,000 to Rs. 75 lakhs |
Interest Rate |
8.90% to 11.10% |
Tenure |
Up to 12 months |
Below-mentioned are benefits of Karur Vysya Bank Gold Loan, and why to choose it to finance your needs.
Following are the features of jewel loan by the bank.
Below-provided is the Karur Vysya Bank gold loan rate MCLR basis per gram rate.
Gold Loan Schemes |
Maximum Loan Amount |
Current Rate Per Gram Rate in Rs. From 2019 |
MCLR Interest Rate |
Agricultural gold loan for 12 months |
Amount based on extent of cultivation and land. |
Rs. 2250 |
Six month MCLR 9.35% for amount up to Rs. 1 lakh. One year MCLR 9.65% for an amount more than Rs. 1 lakh. |
Quick jewel loan for agricultural purpose up to 6 months |
Rs. 25 lakhs |
Rs. 2300 |
8.90%, three month MCLR for amount up to Rs. 1 lakh. 9.65% one year MCLR for amount more than Rs. 1 lakh. |
Jewellery loan for trade up to 12 months |
Rs. 25 lakhs |
Rs. 1950 |
One year MCLR 9.65% + 1.45% = 11.10%. |
Quick jewel loan for trade up to 6 months |
Rs. 25 lakhs |
Rs. 2050 |
One year MCLR 9.65% + 1.45% = 11.10%. |
Jewel loan for other purposes up to 12 months |
Rs. 25 lakhs |
Rs. 1950 |
One year MCLR 9.65% + 1.45% = 11.10%. |
Quick jewel loan for other purposes up to 6 months |
Rs. 25 lakhs |
Rs. 2050 |
One year MCLR 9.65% + 1.45% = 11.10%. |
Swarna Mithra Scheme Overdraft |
Rs. 75 lakhs |
Rs. 2050 |
One year MCLR 9.65% + 1.45% = 11.10%. |
You can determine the rate of interest, your loan eligibility, and EMI amount to pay by using free tools on our website. For instance, Karur Vysya Bank gold loan EMI calculator will help understand the interest component and principal component combined together that you have to pay every month. On the other hand, Karur Vysya Bank gold loan eligibility calculator will help you know the loan amount you are eligible for based on your existing financial liabilities and EMIs.
To understand the rate of interest applicable, you may refer the loan aspects considered by Karur Vysya Bank Gold Loan Interest Rate Calculator:
Below-given is a procedure to apply for gold loan online at the bank.
Listed below are the details of Swarnamitra jewel loan.
Loan amount |
Rs. 5,000 to Rs. 75 lakhs |
Tenure of repayment |
The overdraft facility is available for 12 months. You can get it renewed. However, it shall be possible only at the discretion of the banking authority. |
SCHEME |
ROI (floating) p.a. |
Swarnamitra |
One Year MCLR + 1.45% |
Collateral |
You have to pledge gold jewellery. The asset must be at least 22 Carats. |
Guarantee requirement |
NA or optional |
Processing fee |
0.50% of the loan amount including the appraisal fee |
Other Terms & Conditions |
Interest amount should be paid monthly. Only people having gold Jewelleries can avail these loans. No jewellery exchange shall be allowed. Any outstanding overdue if not paid by borrower, will be recovered by repossessing gold assets and auctioning these. |
Below-mentioned are documentation for jewellery loan.
Following are frequently asked questions about gold loan Karur Vysya Bank.
Loans against gold for non-resident Indians are designed to meet the immediate cash requirements of customers in financial emergencies. They can avail funds for trade and personal reasons. Maximum loan amount is Rs. 25 lakhs, starting at 11.10%.
Those from the agricultural sector can apply for a loan against gold at Karur Vysya Bank and get funds between Rs. 10,000 and Rs. 25 lakhs. Tenure of loan is between 6 months and 12 months. All farmers who engage in short-term crop production are eligible for this loan.
You can repay on EMI basis. There may be bullet repayment scheme for a few customers. It is best to enquire at the bank for a suitable repayment option as per your need and the loan against gold scheme.
Even after repeated communication by the bank, you fail to repay the loan in complete within the tenure and stipulated grace period, then the bank has all the rights to auction the pledged gold ornaments in order to recover the outstanding dues.
You can walk-in to the nearest bank branch and ask for the loan details and application form. Do carry all the required documents and its hard-copies for verification and documentation procedure. Also, you have to submit the collateral gold for valuation so that a loan amount, rate of interest, and tenure can be determined as per your suitability. The loan amount however will be transferred to your bank account.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of State Bank of India.
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