Gold Loan Interest Rates 2020262 views
- What makes YES Bank Gold Loan an Attractive Deal for the customers?
- Know about its interest rates, eligibility criteria, EMI Calculator and the various repayment modes!
The need for funds can come from anywhere at any time without any prior warning. To fulfill such needs, you will require a loan at an affordable rate of interest. Numerous banks and financial institutions offer you an option of different products to meet your emergency needs. One such product is the Gold Loan through which you can avail of the required funds by submitting gold. YES Bank Gold Loan could be the right option for you when you require funds immediately. You can get this easy and secured loan upto INR 50 lakh. Through this, you can fulfill your various financial needs such as your child’s marriage, medical emergency or any other things. So, keep reading to know more about YES Bank Gold Loan!`
Table of Contents
- 1 YES Bank Gold Loan Interest Rate
- 2 How to Apply for YES Bank Gold Loan?
- 3 Documents Required for YES Bank Gold Loan
- 4 Eligibility Criteria of YES Bank Gold Loan
YES Bank Gold Loan Interest Rate
To get the Gold Loan for you, you just need to submit your gold ornaments as collateral or security against which you will get the loan amount. Due to the collateral, you could get the loan at an affordable rate of interest. The interest rate is the most important factor in getting any kind of loan facility as it directly affects your repayment. You will need to pay a low repayment amount if you manage to get lower gold loan interest rates.
YES Bank Gold Loan interest rates range from 9.65% to 15.65% per annum and it will depend on various factors such as your overall profile and loan amount. If you want to know more about this loan, you can look at the table given below.
YES Bank Gold Loan Interest Rates and Other Details
|Minimum Loan Amount||INR 25,000|
|Maximum Loan Amount||INR 50 lakh|
|Interest Rate||9.40% - 15.40%|
|Minimum Tenure||3 months|
|Maximum Tenure||36 months|
|Processing Fee||0.75% of the total loan amount plus applicable GST charges|
|Valuation Fee||INR 150|
|Documentation Fee||INR 150|
|Part prepayment/ Foreclosure Charges||1% of the Outstanding Loan Amount for 6 months|
|Credit Assessment Charges||Nil|
|Bounce Charges||INR 200|
|Swap Charges||INR 250|
YES Bank Gold Loan Highlights
YES Bank Gold Loan comes with some amazing features and benefits for you to make the most of. Now you know about the affordable interest rates and other important details related to the gold loan facility, it’s time to know some highlights of the YES Bank Gold Loan so that you can make the right decision while choosing the most suitable loan for you. We have mentioned all of them below so that you can have a look at them!
- The maximum amount that you can get with this loan is fixed at INR 50 lakhs so that any of your urgent needs can be fulfilled without any hassle. Of course, the loan amount will depend on the value and purity of your gold.
- YES Bank has the best in-house gold evaluation process so that you can get the maximum loan amount against your gold ornaments. Apart from this, you don’t need to worry a bit about the safety of your gold as it will be kept extra safely in the vaults of the YES Bank. You can have your peace of mind as you will get world-class security protocols.
- If you want to pay a part of the loan amount or want to foreclose your loan before the fixed tenure, you can do it by paying 1% of the total outstanding amount after the 6 months of your loan tenure.
- You can choose from different repayment options. You can choose to pay the interest monthly/ quarterly basis or at the end of the tenure or you can opt for the monthly installments repayment methods according to your own convenience.
- A top-up facility on your gold loan is also available without giving any extra charges.
How to Apply for YES Bank Gold Loan?
After knowing the interest rate and other features of this gold loan facility by YES Bank, you may want to know about the application process. We want to tell you to easily apply for YES Bank Gold Loan by either an online or offline method. We have provided both of these methods below so that you can know them in detail.
- If you want to apply through this method, you only need to visit any of the nearest YES Bank branches with your gold.
- The representatives over there will take care of everything from explaining to you about the scheme to ascertaining the value of your gold.
- As soon as all the formalities are done, you will be able to get the loan amount in cash.
For this method, you just need to visit the official website of the YES Bank. There you will see the Gold Loan section. On reaching there, you will see an Apply Now button. On clicking that button, you will see an application form in which you will need to fill in a few details such as your name, mobile number, email address, etc. As soon as you will fill all these details and submit the form, your application will be processed. After this, the representatives from YES Bank will get in touch with you regarding your loan application.
Documents Required for YES Bank Gold Loan
After knowing the application methods, you must know about the documentation process as it is a pretty important part of any loan facility. To apply for the YES Bank Gold Loan, you will need a certain set of documents at the time of application. Through these documents, the lender assesses your candidature for the loan and sanction the loan amount. We are providing the list of documents below so that you can be prepared for it beforehand. Do check them.
- Two Recent Passport-size Photographs
- Address Proof – Voter’s ID Card/Aadhar Card/ Electricity or Telephone Bill/ Ration Card
- ID Proof – Aadhar Card/ Passport/ Valid Driving Licence/ PAN Card
- Proof of Signature
Eligibility Criteria of YES Bank Gold Loan
Now that you are well aware of the documents that you will need, it’s important to know about the conditions that you need to fulfill to get a YES Bank Gold Loan. This set of conditions is known as the eligibility criteria and may vary from one lender to another. You will not be able to get the loan amount if you fail to meet any of these conditions.
We are providing you these conditions so that you could know them before you decide to apply for this gold loan facility. Have a look at them below.
- The candidate must be an Indian Citizen with a minimum age of 18 years and maximum of 65 years.
- The purity of the gold must be between 18 to 22 karats.
- The bank seeks a regular and stable source of income before approving the gold loan.
How to Reach YES Bank Gold Loan Customer Care?
If you face any query or question about the YES Bank gold loan facility, you can get in touch with the Customer Care of the lender. For this, you can dial toll free number 1800-1200 from your registered mobile number (RMN). The representatives will hear your query patiently and give you a satisfactory solution regarding your problem. Apart from this, you can also email your query to firstname.lastname@example.org.