Gold Loans
Choose from our gold loan schemes designed for quick processing, secure storage, and flexible repayment options.
Features
- Instant Gold Loan: Get instant loan against gold from Warangal District Co-operative Central Bank and fulfill all your immediate financial needs with ease.
- Complete Safety of Your Gold: Avail loan against gold jewellery with utmost safety and security of your gold at Warangal District Co-operative Central Bank Ltd.
- Minimal Documentation: Get swift approvals with easy documentation, as we believe in minimal paperwork.
- Easy Repayment Options: Repay hassle-free in monthly or yearly mode. You can pay your gold loan any multiple times within a year.
- Immediate Valuation of Your Gold: Ornaments pledged by the customer will be assessed and valued immediately by appraisers appointed by our bank.
Eligibility Criteria
The beauty of gold loans is that most adults who own gold are eligible. If you want to apply, check the criteria below:
- Age: Indian citizen above 18 years but below 75 years. We usually prefer customers to be residents of the local area of the business areas of our branches.
- Quality of Gold: Gold ornaments pledged as collateral should be between 18 to 22 karats.
Documents Required
Documents required are minimal, as eligibility is independent of factors such as service/profession and income. Please ensure you have proof of ID and address as per KYC guidelines:
- Aadhaar Card Xerox
- Saving account with our bank
- Photograph
- Revenue Stamp
Interest Rates, Tenure & Charges
The interest rate depends on the type of gold loan you choose. Our Bank’s gold loan facility is available under the following schemes:
- Normal gold loan
- Express gold loan
- Cash credit
Note: The rate of interest levied is solely at the bank’s discretion and is subject to change.
Below is the detailed list of gold loan fees and charges:
- Shares: ₹ 300 (First-time Gold Loan customer)
- Entrance Fee: ₹ 10 (First-time Gold Loan customer) + GST
- Appraiser Charges: ₹ 3 for every ₹ 1000
Minimum ₹ 3 to Maximum ₹ 600 (every time you avail loan; depends on the value appraised) - Foreclosure Charges: ₹ 100 + GST (if Gold Loan is closed within a month)
- Overdue Interest: 2% compounded monthly
Why apply for a Warangal District Co-operative Central Bank Gold Loan?
Gold loans at our Bank are customized to your specific needs. They come bundled with benefits such as tenure up to 1 year and lower interest rates compared to other players in the industry.