Union Bank of India Gold Loan Key Features
| UBI Gold Loan Amount | Up to Rs. 1 Crore (With Income Proof) |
| Union Bank of India Gold Loan Interest Rate | 7.0% per annum |
| Union Bank of India Gold Loan Per Gram | Rate Per Gram Today is ₹ 5,268 |
| UBI Gold Loan Processing Fee | 1.50% of the Principal Loan Amount |
| UBI Gold Loan Prepayment Charges | 2%+GST (Within 3 Months), 0 (After 3 months) |
| UBI Gold Loan Repayment Tenure | 3 Months to 24 Months |
| UBI Gold Loan Repayment Scheme | Bullet Payment Scheme, Overdraft Scheme |
Advantages of Union Bank of India Gold Loan:
- Quick Process: Union Bank of India Gold Loan is usually approved and repaid very quickly and easily. The loan is accepted in one hour.
- Less Documentation: The Union Bank of India Gold Loan documentation process requires simpler, less complex documentation.
- Transparency system: Banks provide complete transparency to customers. That implies there are no hidden costs.
- Loan Amount: The minimum amount for Union Bank of India customers is Rs. 15,000. In addition, in rural areas, it can be less than Rs 10,000.
- Jewellery Security: Keep in mind that the bank takes full responsibility for the security of gold. Therefore, gold is kept in a fireproof safe.
- Loan Term: The loan term can be from 3 months to 2 years. Therefore, you can make a choice according to your comfort.
- Benefits for farmers: Union Bank of India offers various special offers for agricultural purposes. That said, the bank offers a slightly lower gold rate for agricultural gold loans.
- No debt burden: If the applicant is unable to repay the loan amount, it is possible that the applicant is not in debt, as the bank will only confiscate the jewellery
- No income limit: There is no salary or income limit for the applicant. So, anyone with their income can get a gold loan.
How Much Gold Loan can I Get through Union Bank of India Gold Loan:
Union Bank of India Gold Loan Per Gram – Updated September 2020
Updated - Gold Loan Per Gram Rate
Gold Weight
Gold Purity
Gold Purity
Gold Purity
Gold Purity
24 Carat
22 Carat
20 Carat
18 Carat
1 gram
4680
4290
3900
3510
10 gram
46800
42900
39000
35100
20 gram
93600
85800
78000
70200
30 gram
140400
128700
117000
105300
40 gram
187200
171600
156000
140400
50 gram
234000
214500
195000
175500
100 gram
468000
429000
390000
351000
200 gram
936000
858000
780000
702000
300 gram
1404000
1287000
1170000
1053000
400 gram
1872000
1716000
1560000
1404000
500 gram
2340000
2145000
1950000
1755000
Union Bank of India Gold Loan Eligibility:
18-70 years of age Salaried, Self-Employed Minimum 18 Carats
Age
Nationality
Indian
Employment Status
Gold Quality
Union Bank of India Gold Loan Documents Required:
Photographs
2 Passport Size
Identity Proof
Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Residence Proof
Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)
Union Bank of India Gold Loan Interest Rate, Fees and Charges:
1.50% of the Principal Loan Amount 2%+GST (Within 3 Months), 0 (After 3 months) Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs 2% p.a. + Applicable rate of interest.
Gold Loan Interest Rate
7.00% per annum
Processing Fee
Prepayment/Foreclosure Charges
Valuation Fee
Late Repayment Charges
Renewal Processing Fees
Rs 350 + GST
About Union Bank of India Gold Loan:
If you need immediate funds, then you can easily fulfil your financial needs with the Union Bank of India. Proper use of your assets can help you fulfil your needs. Union Bank of India provides you with a higher funding and a lower rate of interest on Gold Loan.
A 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 fulfilment 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 Union Bank of India Gold Loan
- Union Bank of India Gold Loan Interest Rate is 7.0% per annum
- Union Bank of India Gold Loan Per Gram is ₹ 5,268
- Union Bank of India Gold Loan Tenure: Up to 24 months
- Union Bank of India Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST
Types of Union Bank of India Gold Loan:
Union Bank of India offers varied schemes connected to the Gold Loan product that are listed below:
- Loan Against Gold – Union Bank of India provides Gold Loan at attractive rates of interest to satisfy anyone’s dire requirement of funds for any purpose whether or not or not personal or professional. The gold loan surely is a secured kind of loan then, the bank has no risk in lending the amount to the individual so it’s provided at a lower rate of interest compared to various types of Loan merchandise.
- Loan Against Gold for Agriculture – Union Bank of India provides Gold Loans specifically for agriculture functions to farmers at a special rate of interest as compared to gold loans given for various uses. They are given special offers and that they ought to turn out the bank Land proofs that they are taking the Loan for.
Union Bank of India Gold Loan EMI Calculator:
Rate of Interest
6 months
1 Yr
2 Yrs
3 Yrs
7.00%
17008
8652
4477
3088
8.00%
17058
8699
4523
3134
8.50%
17082
8722
4546
3157
9.00%
17107
8745
4568
3180
9.50%
17131
8678
4591
3203
10.00%
17156
8791
4614
3227
10.50%
17181
8815
4637
3250
11.00%
17205
8838
4661
3274
11.50%
17230
8861
4684
3298
12.00%
17254
8885
4707
3321
12.50%
17279
8908
4731
3345
13.00%
17304
8932
4754
3369
13.50%
17329
8955
4778
3393
14.00%
17354
8979
4801
3418
14.50%
17378
9002
4825
3442
15.00%
17403
9026
4845
3466
How to Pay Your Union Bank of India Gold Loan EMI?
Your Union Bank of India gold loan is usually reimbursed inside the subsequent three alternative methods:
- Standing Instruction (SI): If you are presently an account holder with Union Bank of India, Standing Instruction is the foremost dependable methodology of compensation. Your EMI amount ar progressing to be attributable automatically towards the tip of the month to month quantity from the Union Bank of India bank account you show.
- Electronic Clearing Service (ECS): This program is usually applied if you have a non-Union Bank of India record and might wish your EMIs to be debited consequently near to the decline of the month to month process from the account you mention.
- Post-Dated Checks (PDC): You’ll show post-dated EMI analyses from a non-Union Bank of India financial statement at your nearest Union loan Center. A different version of PDCs got to be presented quickly. It will be glorious if you note Post Dated Checks are progressing to be collected non-ECS states because it was.
Union Bank of India Gold Loan Contact Number:
Call 9878981144 and acquire instant facilitate and approval for your Union Bank of India Gold Loan. You’ll be able to apprehend the most effective offers on Gold Loan out there from all the Union Bank of India Branches throughout the country to avail the foremost effective deal applicable to your wishes.
Gold Ornaments Accepted by Union Bank of India:
- Gold jewelry as an example Gold Bangles, Gold rings, Gold anklets, Gold necklaces, etc. all of these are accepted by Union Bank of India for availing a Gold Loan.
- Quality: The quality of gold has to be between eighteen Carat to twenty-two Carat. Any gold ornament that’s twenty-four Carat, cannot be used for availing a gold loan.
Use of Union Bank of India Gold Loan:
The funds obtained by availing the Union Bank of India Gold Loan service may be used for several functions such as:
- To finance any specific investments like matrimony, hiking, instalment of higher tuition payments, etc.
- For all of your selling wishes, like obtaining supplies, developing, promoting, etc., loan service is always available.
- You can also furthermore avail of a Gold Loan for agriculture ideas. The bank provides lower prices of interest for Gold Loans that are used for farming or connected projects.
Gold Loan Interest Rate of Major Banks
|
Bank |
Interest Rates |
|
7.00% – 14.50% |
|
| 7.00% – 16.10% | |
| Muthoot Finance Gold Loan |
7.00% – 24.00% |
| 7.00% – 17.00% | |
| Manappuram Gold Loan |
7.00% – 26.00% |
| 7.00% – 15.99% | |
| Bank of India Gold Loan |
7.00% – 26.00% |
| 7.00% – 13.50% | |
| IIFL Gold Loan |
7.00% – 12.00% |
| 7.00% – 14.65% | |
|
7.00% – 12.65% |
|
| Allahabad Bank Gold Loan |
7.00% – 10.45% |
| 7.00% – 15.75% | |
| PNB Gold Loan |
7.00% – 11.75% |
| 7.00% – 26% | |
| SBI Gold Loan |
7.00% – 15.99% |
| 7.00% – 15.99% | |
| UCO Bank Gold Loan |
7.00% – 26.00% |
| 7.00% – 13.50% | |
| Syndicate Bank Gold Loan |
7.00% – 12.00% |
FAQs About Union Bank of India Gold Loan:
- What is Union Bank of India Gold Loan?
Union Bank of India Bank Gold Loan is a loan system that you just can avail for imperative financial aid by keeping your gold as collateral security with the bank. It conjointly comes with engaging interest rates on Term Loan, Overdraft, and EMI based mostly on loan. The average Gold Loan disbursal time in India is simply forty-five minutes.
- How can I get the Gold Loan from Union Bank of India?
You will get Union Bank of India Gold Loan by visiting any of the gold loan providing branch of India otherwise you can apply online with BookMyLoans from the comfort of your home and obtain the best deals and offers. It is one in every one of the leading banks in India that has Gold Loan service.
- What is the Gold Loan Interest Rate in Union Bank of India?
The Gold Loan rate in India is 7.0% each year. The rate of interest depends upon a variety of things, namely: loan quantity, loan tenure, purity of gold, and relationship with India.
- How much Gold Loan can I get per gram in Union Bank of India?
The per with gram Gold Loan in Union Bank of India that you may get relies upon at the purity of your gold. Union Bank of India accepts gold of purity among 18 carats to 22 carats to offer a Gold Loan. You can avail up to ₹ 5,268 Per Gram in Union Bank of India Gold Loan
- How to check Gold Loan status in Union Bank of India?
In order to test your Union Bank of India Gold Loan status, all you want to do is go to the Union Bank of India Loan Status Tracker net web page and fill on your info within the structure given. You can effortlessly track the status of your loan from everywhere and stay updated.
- How to calculate Gold Loan Interest in Union Bank of India?
You can calculate the interest for your Union Bank of India Gold Loan the usage of BookMyLoans’ EMI Calculator which offers you correct quantities primarily based totally on the records you input into the calculator.
- How to Pay Union Bank of India Gold Loan Interest Online?
You can pay Union Bank of India Gold Loan interest online via internet banking on the official Union Bank of India loan reimbursement internet web page or alternatively, you could additionally pay off your Union Bank of India Gold Loan on Paytm the usage of your selected charge method.
- What if I can’t pay the interest on the Union Bank of India Gold Loan for 3 months?
If are not able to pay your Union Bank of India Gold Loan for three months, the bank will at the beginning remind you of your pending dues. If the charge requests move unheard a legal notice is despatched concerning the reimbursement and closure of the loan. Defaulting in your Gold Loan consequences in a lower of your credit score rating and additionally makes you vulnerable to legal movements through the bank together with confiscation and public sale of your gold.
- How can I apply for EMI Moratorium on Union Bank of India Gold Loan?
You can apply for EMI Moratorium on Union Bank of India Gold Loan now among 1st March and thirty-first August 2020 and this needs to be achieved through contacting the Bank consumer care or touring the closest Union Bank of India branch.