Gold Loan
Utkarsh Small Finance Bank offers hassle free Gold loan against the pledge of your gold ornaments to fulfil your urgent need of funds for agricultural, educational, business, medical and other personal needs.
We offer two schemes under our gold loan product with simple rate of interest and maximum loan to value (LTV)
Utkarsh Navya: The loan amounts range between 10,000 and 15,00,000 with repayment tenure of six months. Under this scheme borrower has the flexibility to repay interest along with the principal at the end of tenure.
Utkarsh Swarna: The loan amounts range between 10,000 and 15,00,000 with repayment tenure of twelve months. Under this scheme borrower enjoy the flexibility of repaying interest on monthly basis and principal at the end of loan’s tenure.
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Rewards
1 reward point on every 100 spends on debit card
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15% discount
1 reward point on every 100 spends on debit card
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Free
Cash withdrawal on Utkarsh Bank ATMs
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Instant Gold Loan: To get instant loan, visit any of our branch offering Gold Loans with your gold jewellery. We offer maximum value Gold Loan between 10,000 to 15,00,000 in few minutes.
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Safe: We follow industry-best safety protocols. Your gold is completely safe in our bank's vaults/lockers that are monitored by a CCTV 24 x 7. We offer free gold insurance policy for your pledged gold items.
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Documentation: Only a valid ID and address proof is needed to open an account and get instant Gold Loan.
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Convenience: As there is no minimum lock-in period, you can prepay your loan any time and get your gold jewellery back.
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Offering: Options for bullet repayment schemes
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Tenure: Loan is available for minimum 6 months
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Interest Rate: Utkarsh Gold Loan comes with competitive interest rates starting from as low as 12% per annum
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Repayment Flexibility: Repay the interest and principal at the end of the tenure of loan
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Processing: Experience a completely transparent process with speedy disbursals and no hidden charges
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One passport size photo
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ID Proof such as Driving License / PAN Card* / Form 60 / Passport Copy / Voter ID Card / Aadhaar Card / Ration Card. Any one document needs to be submitted
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Address Proof such as Driving License / Voter ID Card / Ration Card / Aadhaar Card / Passport Copy / registered lease agreement with not older than 3 months utility bills in the name of landlord (any one)
click here to calculate the eligible loan amount against gold jewellery or know the net weight of gold jewellery required to apply for a specific loan amount
| Particulars | Charge | Deviation Approval |
|---|---|---|
| Processing Fee | 1% of the loan amount or 750 whichever is higher plus GST |
100% of the charge can be waived by NSH-Liabilities/Head -Liabilities/Business Head- Gold Loan |
| Valuation Charges | 0.25% of the loan amount or 250 whichever is higher plus GST |
Nil Deviation |
| Top-up Charges | 1% on the top-up amount or 500 whichever is higher plus GST |
100% of the charge can be waived by NSH-Liabilities/Head -Liabilities/Business Head- Gold Loan |
| Renewal Charges | 500 plus GST | Nil Deviation |
| NACH/SI Bounce Charges | 200 plus GST | Nil Deviation |
| Pre-Payment Charges | 1% of the pre-payment amount plus GST | 100% of the charge can be waived by NSH-Liabilities/Head- Liabilities/Business Head- Gold Loan -Liabilities/Business Head- Gold Loan |
| Fore-closure Charges | 1% of the principal outstanding plus GST | 100% of the charge can be waived by NSH-Liabilities/Head- Liabilities/Business Head- Gold Loan |
| Late Payment Fees | 3% per month on total overdue amount | Nil Deviation |
| Stamp Charges | At Actual [As per applicable law of the state] | 100+ Stamp duty applicable as per the law of the state |
| Auction Charges | At Actual | |
| Legal & Collection Charges | At Actual |
Apply to Utkarsh Gold Loan
Loan calculator
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Interest Rate 8.00% |
Interest Earned 3,50,452 |
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Maturity Value 13,50,452 |
Maturity Date 20 Apr 2023 |
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(Indicative interest rates for calculation only. click here for latest rates.) |
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FAQs
This type of loan is a Loan against Gold ornaments having purity of more than 18 Carat.
You can repay the loan by visiting the branch and get your gold ornaments released.
The rate of interest for Utkarsh Gold loan ranges between 12% p.a. - 24% p.a.
Yes, you can make pre-payment of the loan by paying applicable fees and charges.
Bank proactively reminds customers of their dues and advises you to keep adequate funds available to avoid additional costs. If you miss timely payment of your dues, late payment charges will be applicable according to the terms of your loan agreement.
Yes, the loan can be closed before tenure expiry.
You can avail Utkarsh Gold Loan against the gold coins issued by banks only [operating in India] with 99.99% purity. The weight of the gold coin[s] cannot exceed 50 grams per customer as per the RBI guidelines.
Anyone between the age of 18 and 70 years is eligible to apply for Utkarsh Gold Loan.
i. One passport size photograph.
ii. ID Proof.
iii. Address Proof.
You may visit any Utkarsh SFB branch offering Gold Loans or give us a call on our toll-free no. [1800-123-9878] 24×7 [Except National Holidays]
Loans get disbursed on the very same day within few minutes once we receive your application along with all the necessary supporting documents and Gold jewellery as collateral.
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