Karur Vysya Bank Gold Loan

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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

Why Choose Karur Vysya Bank Gold Loan?

Below-mentioned are benefits of Karur Vysya Bank gold loan, and why to choose it to finance your needs.

  • The quantum of finance is flexible. You can get a loan up to Rs. 75 lakhs.
  • These loans attract flexible and hassle-free EMI options.
  • You can avail instant funds and overcome any financial concern during emergencies.
  • You can enjoy one of the lowest rates of interest applicable on jewellery loan in the market.

Features of Karur Vysya Bank Gold Loan

Following are the features of jewel loan by the bank.

  • These are short term loans or overdraft facilities.
  • You have to pledge self-owned gold jewellery to apply for the loan.
  • Funding against jewellery for agricultural, non-agricultural, and personal purposes.
  • Quick and hassle-free processing of the loan.
  • Disbursal the same-day after gold valuation and loan approval.

Karur Vysya Bank Gold Loan Interest Rates 2019 Information

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%.

Karur Vysya Bank Gold Loan Calculator

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:

  • Loan Amount: The amount of loan influences the rate of interest. Sometimes, banks are prepared to apply a lower rate on higher loan amount, and vice-versa.
  • Relationship with the Bank: If you share a good relationship with the bank and are an existing customer, you may receive discounted interest rates on jewel loans.
  • Loan Tenure: The tenure of the loan influences the interest payout on the loan. Shorter the tenure, bigger the EMIs, but lower the interest amount to pay. Similarly, longer the tenure, EMI burden is lower, but interest payout is higher.
  • Weight and Purity of Gold: Greater the purity and weight of gold, higher is the loan amount and lower is the rate of interest, and vice-versa. For instance, you may receive a lower rate on gold of 22 carat than that against 18 carat gold.
  • Repayment Capacity: If you have a good repayment capacity, the rate of interest is negotiable and you may get the best offer on the rates.

Karur Vysya Bank Gold Loan Application Procedure

Below-given is a procedure to apply for gold loan online at the bank.

  • Start with applying for the gold loan online.
  • Fill the application and submit the form at the bank along with your gold assets.
  • The bank then checks the real value of the gold considering and purity and the weight.
  • The bank sanctions a loan amount after gold valuation and application process.
  • The funds get disbursed to your registered bank account.

Karur Vysya Swarnamitra Gold Loan Details

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.

Documents Required to Apply for Karur Vysya Jewel Loan

Below-mentioned are documentation for jewellery loan.

  • ID proof like Voters ID card/ Passport Copy/ Driving License.
  • PAN card is mandatory.
  • Address Proof like Electricity Bill/ Ration card/ Telephone bill/ Passport copy/ Shop and Establishment License/ Rental bill/ Trade license / Sales Tax certificate.
  • Signature Proof by submitting your Driving License/ Passport Copy/ Banker's verification or cheque.
  • Carry two passport-sized recent photographs along.

Karur Vysya Bank Gold loan FAQs

Following are frequently asked questions about gold loan Karur Vysya Bank.

  • addFAQs
    1. What are NRI jewel loan schemes by the bank?
    2. 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%.

    3. What are the agricultural gold loan schemes?
    4. 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.

    5. What is the repayment option?
    6. 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.

    7. What happens on a loan default?
    8. 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.

    9. Can I apply for the jewellery loan offline?

    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

Why Choose Karur Vysya Bank Gold Loan?

Below-mentioned are benefits of Karur Vysya Bank Gold Loan, and why to choose it to finance your needs.

  • The quantum of finance is flexible. You can get a loan up to Rs. 75 lakhs.
  • These loans attract flexible and hassle-free EMI options.
  • You can avail instant funds and overcome any financial concern during emergencies.
  • You can enjoy one of the lowest rates of interest applicable on jewellery loan in the market.

Features of Karur Vysya Bank Gold Loan

Following are the features of jewel loan by the bank.

  • These are short term loans or overdraft facilities.
  • You have to pledge self-owned gold jewellery to apply for the loan.
  • Funding against jewellery for agricultural, non-agricultural, and personal purposes.
  • Quick and hassle-free processing of the loan.
  • Disbursal the same-day after gold valuation and loan approval.

Karur Vysya Bank Gold Loan Interest Rates 2019 Information

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%.

Karur Vysya Bank Gold Loan Calculator

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:

  • Loan Amount: The amount of loan influences the rate of interest. Sometimes, banks are prepared to apply a lower rate on higher loan amount, and vice-versa.
  • Relationship with the Bank: If you share a good relationship with the bank and are an existing customer, you may receive discounted interest rates on jewel loans.
  • Loan Tenure: The tenure of the loan influences the interest payout on the loan. Shorter the tenure, bigger the EMIs, but lower the interest amount to pay. Similarly, longer the tenure, EMI burden is lower, but interest payout is higher.
  • Weight and Purity of Gold: Greater the purity and weight of gold, higher is the loan amount and lower is the rate of interest, and vice-versa. For instance, you may receive a lower rate on gold of 22 carat than that against 18 carat gold.
  • Repayment Capacity: If you have a good repayment capacity, the rate of interest is negotiable and you may get the best offer on the rates.

Karur Vysya Bank Gold Loan Application Procedure

Below-given is a procedure to apply for gold loan online at the bank.

  • Start with applying for the gold loan online.
  • Fill the application and submit the form at the bank along with your gold assets.
  • The bank then checks the real value of the gold considering and purity and the weight.
  • The bank sanctions a loan amount after gold valuation and application process.
  • The funds get disbursed to your registered bank account.

Karur Vysya Swarnamitra Gold Loan Details

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.

Documents Required to Apply for Karur Vysya Jewel Loan

Below-mentioned are documentation for jewellery loan.

  • ID proof like Voters ID card/ Passport Copy/ Driving License.
  • PAN card is mandatory.
  • Address Proof like Electricity Bill/ Ration card/ Telephone bill/ Passport copy/ Shop and Establishment License/ Rental bill/ Trade license / Sales Tax certificate.
  • Signature Proof by submitting your Driving License/ Passport Copy/ Banker's verification or cheque.
  • Carry two passport-sized recent photographs along.

Karur Vysya Bank Gold loan FAQs

Following are frequently asked questions about gold loan Karur Vysya Bank.

  • addFAQs
    1. What are NRI jewel loan schemes by the bank?
    2. 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%.

    3. What are the agricultural gold loan schemes?
    4. 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.

    5. What is the repayment option?
    6. 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.

    7. What happens on a loan default?
    8. 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.

    9. Can I apply for the jewellery loan offline?

    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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