What is Jammu and Kashmir Bank Gold Loan?

Gold loan is a secured loan, as the loan is given by the banks against gold security.The borrower keeps his gold ornaments as collateral with the lender and takes the money against those ornaments. Many go for the fulfillment of their short term goal through gold loans, such as their child’s education, marriage or other family problems. Step ahead to BookMyLoans to grab the best offer on Jammu and Kashmir Bank Gold Loan

Advantages of Jammu and Kashmir Bank Gold loan

  • Simple Documentation
  • Easy and Hassle-free process
  • Approval in 30 minutes
  • Simple Documentation
  • Dedicated Assistance
  • No salary certificate or credit card history is required
  • Lowest Interest Rate

Interest Rate of Gold Loan

Jammu and Kashmir Bank Gold Loan Interest Rates

  • Generally gold loan is available at the interest rate of 11.5% to 14.5%
  • ROI for tenure less than 1 year is also available at 1%
  • Processing fees equals to 2000
  • Borrower will be given an option to pay only interest during the entire term and at the end of the tenure, you can pay complete borrowed amount in a single shot.

Jammu and Kashmir Bank Gold Loan Per Gram

Gold Loan calculator is used to calculate the gold loan per gram based on the total weight of the jewelry, level of purity, past 30 days average price of 22-carat gold and loan to value offered by your bank. As per today’s gold prices, the highest gold loan per gram against 22-carat gold is Rs. 3,044 per gram. Key variables that are required to calculate the gold loan rate per gram is passed.

Eligibility & Documents

Eligibility for Jammu and Kashmir Bank Gold Loan

To apply Gold Loan, you must be:

      1. Firstly, A citizen of India.
      2. Secondly, Gold should be of more than 10 grams.
      3. Moreover, A farmer, trader, salaried or self-employed professional, or businessman can apply for gold loan.
      4. After that, The applicant must be between 18 to 65 years.
      5. Gold should be a minimum of 18 to 22 carrots.
      6. Also, The minimum loan amount is Rs.18000.

Documentation for Jammu and Kashmir Bank Gold Loan

      1. Identity Proof (Passport Copy/ Voters ID card/ PAN Card/Aadhaar Card).
      2. Address Proof(Passport/ Electricity Bill/Telephone bill/ Aadhaar Card).
      3. Signature Proof ( Passport/ PAN Card/Banker’s verification/ cheque).
      4. 2 passport size photographs

Terms and conditions for Gold Loan

      1. Foreclosure Charges- Charges that are to be paid when the loan is closed before the tenure is completed.
      2. foreclosure charges can be up to 1%.The minimum loan tenure is 6 Months.
      3. So foreclosure charges after 6 months are 0.
      4. Charges for late payment of loan Amount
      5. 2% p.a. as penal interest over and above the applicable rate of interest.

 How to apply for the Gold Loan via bookmyloans


It is very easy to apply for the Gold loan. There are basically two methods through which you can apply one is online and another is offline. In the offline process, you need to visit the branch of the bank and have to provide the correct information in the application form. Until the sanctioning of the Gold Loan, you have to visit the bank. In the online process, you need to visit the site of bookmyloans.in and have to provide information in the application form. Immediately you will get a call from the customer representative of the Bank and they will confirm some of the details from you and let you know the eligibility. Then they will fix your appointment with the banker. Banker collects the required documents. You need to visit the bank once at the time of gold deposition. If you face any problem you can contact customer representative of the bank anytime otherwise you can go through bookmyloans.in. So apply now and get instant cash back.

FAQs About Gold Loan

  1. How does Gold Loan work?

It is straightforward to understand Loan on Gold. The Banks /NBFC provide you with funds against your gold ornament. The amount depends upon the gold weight.

  1. Is Gold Loan secured?

Yes, it is essential to note that the loan on gold is secured. Because while taking Gold Loan, the applicant put his/her gold jewelry into the bank’s locker as collateral.

  1. What consequences can happen when you don’t repay a Gold Loan?

If an applicant is not able to return the gold loan on time, then the bank is liable to sell his gold ornaments.

  1. Is it necessary to have a co-applicant to get Gold Loan?

No, there is no need for any co-applicant to get Gold Loan.

  1. Is there any fee to pay for the Gold Loan?

It is necessary to pay the loan processing fee as well as Valuation fee.