Gold Loan scheme
The schemes for acquiring Capital Small Finance Bank Gold Loan are:-
1. Agricultural purpose Gold Loan
This loan can be acquired by farmers or agricultural laborers.
Proof of agricultural land is mandatory.
The loan amount can only be used for agricultural purposes.
2. Non-Agricultural purpose Gold Loan
This loan can be acquired by self-employed, salaried, business people, homemakers, students, etc.
The occupation barrier is not present.
No Income proof is required.
The gold loan can be avail for
Medical emergencies due to health issues or accidents
Home renovation or construction purposes
Higher education purpose
Debt consolidation purpose
Travel purpose
Wedding purpose
Gold loan eligibility
A gold loan can be obtained regardless of occupation or wages.
You must submit your KYC documents to verify your identity and address, such as your Aadhar card, PAN, passport, voter ID, or driving license.
It would be best to carry gold for a purity examination, which will examine its quantity and consistency.
The applicant must be between the age group of 18 and 70 to be considered.
The gold which has to be kept mortgage must be over 18 carats.
A CIBIL Score of above 500 is required but not mandatory.
Gold Loan process
The application process of a Gold loan can be submitted through Capital Small Finance Bank's official website or app or in-person by visiting the nearest branch of a bank. After a short span, the bank representative will call you and schedule your appointment for a bank visit for documentation and purity test of gold. While visiting the Bank to complete an application, the borrower can proceed to this step. In the documentation, Proof of identity and address proof has to be submitted for verification. In the Purity test of gold, the gold is evaluated for its composition, weight, and impurities present in it by Bank authorities.
The loan is approved after completing all the procedures. An approval letter is given to the borrower, which contains detailed information about the lending bank, gold loan scheme, gold loan per gram, interest rate, tenure period, repayment options, foreclosure charges, processing fee, etc., terms and conditions of the Bank. After depositing the gold, it is safely kept in Bank Lockers. The gold valuables are sealed in a bag and marked with a unique application no present on your approval letter. After a while, the loan amount gets credited to your bank account.
Repayment option
To make debt consolidation smoother, repayment options are offered. Debt is complex and costly, so we make it simple with three choices.
Electronic Clearance System: the digital transfer is done from a Capital Small Finance Bank.
Standing instruction: an instruction is given to the Bank to make payments to set a regular interval for Capital Small Finance Bank customers.
Post Dated Cheques: The cheques are issued on a future date and submitted to Capital Small Finance Bank's nearest branch.
Advantages of Gold Loan
The most convenient process with minimal bank visitation.
No credit score is required. As gold is kept collateral, no other details are not required.
No income proof is required.
Address and identity proof is required to prevent fraud or forgery.
The loan is processed much more quickly than others.
It has low-interest rates.
Processing fee of 0.85% of the loan amount.
No documentation charges are required.
No foreclosure charges are present after three months.
Repayment options are given.
A loan amount of up to 1 crore can be sanctioned.
To conclude, Capital Small Finance Bank gold loan with a low-interest rate and the tenure of repayment will be based on the borrower's preference through EMI or periodic payments. Gold is your valuable asset, and we value you.
Comentarios