Andhra Bank Gold Loan

Gold Loan at 7.15% p.a

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Andhra Bank Gold Loan Key Features – Apply Now!

Andhra Bank Gold Loan Interest Rate 7.15% per annum
Andhra Bank Gold Loan Per Gram Rate Per Gram Today is ₹ 5,293
Andhra Bank Gold Loan Amount Up to Rs. 1 Crore (With Income Proof)
Andhra Bank Gold Loan Processing Fee 1.50% of the Principal Loan Amount
Andhra Bank Gold Loan Prepayment Charges 2%+GST (Within 3 Months), 0 (After 3 months)
Andhra Bank Gold Loan Repayment Tenure 3 Months to 24 Months
Andhra Bank Gold Loan Repayment Scheme Bullet Payment Scheme, Overdraft Scheme

Advantages of Andhra Bank Gold Loan:

  • Quick Processing: The Andhra Bank Gold Loan’s acceptance and disbursement process is very fast and simple. Normally, the loan passes in an hour.
  • Low-Interest Rate: As a secured loan, the interest rate for gold loans is much lower than for other loans.
  • Minimum Documentation: The documentation process is clear and quick, with the minimum number of documents needed to accept the Andhra Bank gold loan.
  • Transparent system: We do not place secret fees on the loan; the bank strives to remain completely transparent to you.
  • Loan Sum: Rs. 15000 is the minimum amount of loan available to customers. Sometimes, in remote areas, it can be less than Rs 10000.
  • Jewellery Security: We are totally responsible for the protection of your jewellery. The gold is, therefore, contained in fireproof vaults.
  • Loan tenure: Gold loan tenure can be from 3 months to 2 years. Depending on your ease, you can make the option of tenure.
  • Benefits for farmers: for agricultural purposes, Andhra Bank provides some notable deals. This suggests that the bank is giving farmers a slightly lower interest rate on the Gold loan for agricultural practice.
  • No Debt Burden: We are aware that situations can occur in which an applicant is unable to repay the balance of the loan, in which case the applicant will not be in debt because the bank will only seize the ornaments that you have retained.
  • No income restrictions: there are no such limits with respect to the lender’s salary or income; thus, someone with any range of income can use a gold loan at any time.

How Much Gold Loan can I Get through Andhra Bank Gold Loan:

Andhra Bank 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

Andhra Bank Gold Loan Eligibility:

Age

18-70 years of age

Nationality

Indian

Employment Status

Salaried, Self-Employed

Gold Quality

Minimum 18 Carats

Andhra Bank 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)

Andhra Bank Gold Loan Interest Rate, Fees, and Charges:

HDFC Gold Loan Interest Rate

7.00% per annum

Processing Fee

1.50% of the Principal Loan Amount

Prepayment/Foreclosure Charges

2%+GST (Within 3 Months), 0 (After 3 months)

Valuation Fee

Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs

Late Repayment Charges

2% p.a. + Applicable rate of interest.

Renewal Processing Fees

Rs 350 + GST

About Andhra Bank Gold Loan:

If you face financial difficulties, the most realistic solution, the Gold Loan, is to solve your crises. The loan issued for gold is known as the Gold Loan. The borrower retains his gold ornaments with the lender as collateral and takes the cash. Get prompt approval and a hassle-free method. Accessible with handy documents. A gold loan is a loan which is totally secured.

Andhra Bank was established by Bhogaraju Pattabhi Sitaramayya in 1923 in Machilipatnam, Andhra Pradesh. Andhra Bank is a public sector bank of India and it has its headquarters located in Hyderabad, Telangana. Registration of the bank was done on 20 November 1923 and it began its business on 28 November 1923. Though there are a variety of financial banking and non-banking businesses that provide you with a gold loan service, however, Andhra Bank Gold Loan is taken into consideration the most.

  • Andhra Bank Gold Loan Interest Rate is 7.15% per annum
  • Andhra Bank Gold Loan Per Gram is ₹ 5,293
  • Andhra Bank Gold Loan Tenure: Up to 24 months
  • Andhra Bank Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST

Types of Andhra Bank Gold Loan:

Andhra Bank offers various schemes related to the Gold Loan product, which are described below:

  • Loan Against Gold – For any cause, whether personal or technical or not, Andhra Bank offers gold loans at interest rates to satisfy the dire requirements of the funds. The gold loan is certainly a secured loan, so the bank has no risk of granting the amount to the individual, so that, compared to different types of loan merchandise, it is offered at a lower interest rate.
  • Loan Against Gold for Agriculture – Andhra Bank specifically provides farmers with gold loans at a particular interest rate for agricultural functions compared to gold loans provided for other uses. Special deals are offered to them and they may turn out documents of the bank land for which they are taking the loan.

Andhra Bank 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 Andhra Bank Gold Loan EMI?

Your Andhra Bank gold loan is usually reimbursed in the following three alternative ways:

  • Standing Instruction (SI): Standing Instruction is the simplest and most safe payment form if you are presently an account holder with Andhra Bank. At the end of the month to month balance, your EMI balance from the Andhra Bank bank account you view is automatically credited.
  • Electronic Clearing Service (ECS): If you have a record with a non-Andhra Bank and would like your EMIs to be debited from the account you refer to us near the decline of the month-to-month period, this payment method is widely used.
  • Post-Dated Checks (PDC): You can display your post-dated EMI reports from a non-Andhra Bank financial statement at your nearest Andhra Bank loan Centre. There was a need to grant a new version of PDCs promptly. If you note that Post Dated Checks are progressing because it was, it would be fine to collect non-ECS states.

Andhra Bank Gold Loan Contact Number:

For your Andhra Bank Gold Loan, call 9878981144 and receive instant support and approval. You will be able to get to know the most effective Gold Loan deals out there from all the Andhra Bank branches around the world to make use of the most efficient offer that is important to your wishes.

Gold Ornaments Accepted by Andhra Bank:

  • Gold jewellery, for instance, including gold bracelets, gold rings, gold anklets, gold necklaces, etc. All of these ornaments were bought by Andhra Bank for a gold loan.
  • Quality: The gold must vary in quality from 18 to 22 carats. When applying for a gold loan, any 24-carat gold adornment should not be included.

Use of Andhra Bank Gold Loan:

The funds raised by the use of the Andhra Bank Gold Loan service can be used for several functions, such as:

  • To fund those personal investments, such as marriage, hiking, higher rates for education, etc.
  • For all of your selling needs, such as having materials, designing, promoting, etc., credit service is always available.
  • Furthermore, for agricultural ideas, you can also gain from a Gold Loan. The bank has lower interest rates for gold loans that are used for farming or related projects.

Gold Loan Interest Rate of Major Banks

Bank

 Interest Rates

HDFC Bank Gold Loan

7.15% – 14.50%

ICICI Gold Loan

7.15% – 16.10%
Muthoot Finance Gold Loan

7.15% – 24.00%

Axis Bank Gold Loan

7.15% – 17.00%
Manappuram Gold Loan

7.15% – 26.00%

Yes Bank Gold Loan

7.15% – 15.99%
Bank of India Gold Loan

7.15% – 26.00%

Federal Bank Gold Loan 

7.15% – 13.50%
IIFL Gold Loan

7.15% – 12.00%

Central Bank of India Gold Loan

7.15% – 14.65%

Canara Bank Gold Loan

7.15% – 12.65%

Allahabad Bank Gold Loan

7.15% – 10.45%

Induslnd Bank Gold Loan

7.15% – 15.75%
PNB Gold Loan

7.15% – 11.75%

Bajaj Finance Gold Loan

7.15% – 26%
SBI Gold Loan

7.15% – 15.99%

Indian Bank Gold Loan

7.15% – 15.99%
UCO Bank Gold Loan

7.15% – 26.00%

Kotak Mahindra Bank Gold Loan

7.15% – 13.50%
Syndicate Bank Gold Loan

7.15% – 12.00%

 

FAQs About Andhra Bank Gold Loan:

  • What is Andhra Bank Gold Loan?

The Andhra Bank Gold Loan is a form of loan that you can only use by holding your gold as collateral protection with the bank for urgent financial help. Often based on deposits, it also comes with competitive interest rates on term loans, overdraft, and EMI. In India, the average Gold Loan disbursement time is just 45 minutes.

  • How can I get the Gold Loan from Andhra Bank?

You can easily get Andhra Bank Gold Loan by visiting any of the gold loan authorising subsidiaries in India if you can otherwise apply online with BestLoanDeal from the comfort of your home and get the best deals and offers. It is one of the few best Indian banks to provide Gold Loan services.

  • What is Gold Loan Interest Rate in Andhra Bank?

The gold loan average in India per year is 7.15 per cent. A number of constituents are responsible for the interest rate, including the amount of the loan, the tenure of the loan, the purity of gold, and the relationship between the banks.

  • How much Gold Loan can I get per gram in Andhra Bank?

The gold loan you get at Andhra Bank per gramme depends on the purity of your gold. Andhra Bank accepts gold of purity from 18 carats and 22 carats to provide a gold loan. In the Andhra Bank Gold Loan, up to 5,293 per gramme can be used.

  • How to check Gold Loan status in Andhra Bank?

To assess your Andhra Bank Gold Loan status, all you have to do is visit the Andhra Bank loan status tracker web page and fill in your details with the application issued. You can remotely track your loan’s status from anywhere and keep it updated.

  • How to calculate Gold Loan Interest in Andhra Bank?

You can calculate the interest on your Andhra Bank Gold Loan interest through the BestLoanDeal EMI Calculator, which gives you exact amounts backed by the data you insert into the calculator.

  • How to Pay Andhra Bank Gold Loan Interest Online?

On the official Andhra Bank loan repayment website, you can easily pay online Andhra Bank Gold Loan interest through internet banking, or else you can also repay your Andhra Bank Gold Loan on Paytm using your most preferred payment technique.

  • What if I can’t pay the interest on Andhra Bank Gold Loan for 3 months?

When you do not pay your Andhra Bank Gold Loan within 3 months, the bank will initially remind you of your incomplete dues. If the payment requests go unanswered, a formal legal notice is distributed solely for repayment and termination of the loan. The default on your gold loan leads to a decline in your credit score that makes you liable to legal action by the bank, along with the confiscation of the sale of your gold.

  • How can I apply for EMI Moratorium on Andhra Bank Gold Loan?

You can currently apply for the EMI Moratorium on Andhra Bank Gold Loan between 1 March and 31 August 2020 and have to do so by contacting the Bank Customer Service or visiting the nearest Andhra Bank branch.