INTEREST RATE | 10.50% |
LOAN TENURE | Maximum 12 months |
PROCESSING FEE | As decided by the bank from time to time |
GUARANTOR REQUIRED | No |
PRE CLOSURE CHARGES | As decided by the bank from time to time |
Andhra Bank is a public sector bank in india with total assets 3002 crore. It has headquarter in Hyderabad. Andhra Bank was founded on Nov. 20, 1923. It has 2507 branches and total assets 30022232 ATMs across India.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Find details about Andhra Bank which includes Andhra Bank Official Website, Andhra Bank ATMs accross the India, Andhra Bank Branches accross the India, Andhra Bank Contact Numbers, Andhra Bank official EmailID, Andhra Bank Headquarter and Andhra Bank Headquarter Address. Find Andhra Bank Gold loan purpos, Eligibility, Margin, Repayment of Gold Loan ,Security, Documents Required for Gold Loan from below.
The purpose of the Gold Loan is to provide loan to borrowers against pledge of their gold |gold ornaments| gold coins to meet their urgent financial needs with lower interest rate and faster disbursement.
In India, we have emotional attachment with gold because usually, it is kept in the form of family jewellery. When we want to avail gold loan, we are required to keep this gold as a collateral which we do not agree so easily.
It is also required for you to be aware of the quality of gold which qualifies for the gold loan. The purity of gold which is required as a collateral for gold loan should be 18-22 carat or above. No value of precious gems studded in the gold jewellery is taken into account. It is also equally important for the borrowers to go through the terms and conditions mentioned in loan agreement thoroughly.
Further, if you are unable to repay the gold loan on time then there are high chances of losing your pledged gold/ gold jewellery. This may cause undue pressure on you. Hence, it is very necessary for you to think beforehand whether you will be able to repay the gold loan conveniently.