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Get in touch
- 838 Andy Street, Madison, NJ
- akashdeep14@gmail.com
- +91 8860001105
- Monday to Friday: 9am to 6pm
- P3, 203, Central Square, Bara Hindu Rao Central Delhi -110006
- Support +91 8860001105
Gold Loan
Eligibility
- Age :21 years and above. In case of gold loan against gold chains from unknown persons, minimum age is 30 years.
- Profession :Any individual (singly or jointly) with Steady source of income including: Bank’s Employees, Pensioners. (No Proof of income required)
- A person can avail maximum 3 gold loans, including the existing one up to Rs 50.00 lakhs.
KYC
- Internal mechanism for ensuring ownership of gold jewellery and ornaments.
- Proof of identity-
- For loan above Rs. 5 lakh, a PAN card is a must.
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For loan below Rs. 5 lakh, any of the Valid Passport / PAN (Permanent Account Number) card / Voter ID card / Valid Permanent Driving license / Aadhaar Card / Job card issued by NREGA duly signed by an officer of the State Government / Identity card issued by Central/State Government, Public sector undertaking, any Scheduled Commercial Bank, or any Public Financial Institution for their employees is also acceptable.
- Proof of Present and Permanent Address-
- Present – Rental Agreement or Lease Agreement /Utility Bills (water, electricity, phone or gas bill).
- Permanent- Passport / Voter ID Card or Election Commission Photo ID Card / Ration Card / Utility Bills (water, electricity, phone or gas bill).
- Verification of the Ownership of Gold – (a) Where the gold jewellery pledged by a borrower at any one time or cumulatively on loan outstanding is more than 20 grams, Kalyan Capitals shall keep a record of the verification of the ownership of the jewellery, primarily through original purchase receipts. Where the original purchase receipts are not available, a notorised declaration of original ownership shall be obtained from the borrower, particularly in each and every case where the gold jewellery pledged by a borrower at any one time or cumulatively on loan outstanding is more than 20 grams.
Quantum Of Gold Loan
- The maximum loan amount is decided on the 75% value of the gold measured in 22 carat, including accrual interest.
- Minimum amount is Rs. 1 lakh and maximum is Rs. 50 lakh, to be given by cheque /NEFT/IMPS/RTGS.
Tenure
Minimum tenure is 3 months and maximum 24 months.
Margin
- Gold Loan (EMI based): 25%
- 3 Months Bullet Repayment Gold Loan* : 30%
- 6 Months Bullet Repayment Gold Loan*: 30%
- 12 Months Bullet Repayment Gold Loan: 35%
- No further appraisal of pledged gold is required at the time of two subsequent renewals, subject to the pledged gold remaining in the custody of the Bank.
Processing Fees
- 50% of loan amount subject to minimum Rs. 500 + applicable GST.
- Others: Gold appraiser charges will be paid by the borrower in advance.
Interest Rate
- 3 Months Bullet Repayment Gold Loan – 16%
- 6 Months Bullet Repayment Gold Loan – 17%
- 12 Months Bullet Repayment Gold Loan – 18%
- Gold Loan EMI based – 18%
Repayment
Repayment Mode
- 3 Months Bullet Repayment Gold Loan: Interest and Principal on or before end of term.
- 6 Months Bullet Repayment Gold Loan: Interest and Principal on or before end of term.
- 12 Months Bullet Repayment Gold Loan: Interest and Principal on or before end of term.
- For EMI Based – 24 Months.Gold Loan (EMI based): Repayment of Principal and Interest will commence from month following the month of disbursement.
Repayment Period
- 3 Months Bullet Repayment Gold Loan:3 months
- 6 Months Bullet Repayment Gold Loan: 6 months
- 12 Months Bullet Repayment Gold Loan: 12 months.
Maximum Gold Loan (EMI based) : 24 months
Note: Drawing power may fluctuate according to current market price of gold, within sanctioned limit.
Preclosure
A pre-closure fee of 3% will be charged