Gold Loan 

Utkarsh Gold Loan: Schemes, Interest Rates 2024

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Utkarsh Gold Loan is a type of loan that is secured by gold jewellery. The loan amount is based on the value of the jewellery, and the borrower is required to pay interest on the loan. The loan can be used for a variety of purposes, such as medical expenses, education, or home repairs.

Two schemes under gold loan product:

Utkarsh Navya: The loan amounts range between  10,000 and  15,00,000 with repayment tenure of six months. Under this scheme interest is paid along with principal at the end of tenure. The maximum loan to value ratio offered is 69.00%. Loan is offered at fixed interest rates between 12.00% and 24.00% per annum

Utkarsh Swarna: The loan amounts range between  10,000 and  15,00,000 with repayment tenure of twelve months. Under this scheme interest is serviced every month. The maximum loan to value ratio offered is 75.00%. Loan is offered at fixed interest rates between 12.00% and 24.00% per annum

To apply for an Utkarsh Gold Loan, the borrower must provide the following documents:

  • Proof of identity
  • Proof of address
  • Proof of income
  • A valuation report for the gold jewellery

The loan is typically approved within 24 hours, and the funds are disbursed within 48 hours. The borrower is required to make monthly payments on the loan, and the loan must be repaid within a specified period of time.

If the borrower fails to make a payment, the lender may repossess the gold jewellery.

Here are some of the benefits of an Utkarsh Gold Loan:

  • Easy approval process
  • Quick turnaround time
  • Flexible repayment options
  • Competitive interest rates

Here are some of the risks of an Utkarsh Gold Loan:

  • The borrower may lose their gold jewellery if they fail to make a payment
  • The interest rates on an Utkarsh Gold Loan can be high
  • The borrower may be required to pay additional fees, such as a processing fee or a late payment fee

Benefits of Utkarsh Gold Loan

Instant Gold Loan: Visit any of our bank’s branch offering Gold loans with your gold jewellery and avail maximum value for your loan from  10,000 to  15,00,000 in few minutes.
Safe: We follow industry-best safety protocols and your Gold is absolutely safe in bank’s vault/lockers under 24×7 surveillance. Free gold insurance policy for your pledged items.
Documentation: Minimum documents required such as ID and Address proof is only needed to open an account
Convenience: Prepay loan any time i.e. No Minimum lock-in period.

If you are considering an Utkarsh Gold Loan, it is important to compare the terms and conditions of different lenders before making a decision. You should also make sure that you understand the risks involved in taking out a loan.

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