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City Union Bank Gold Loan – Interest Rate, Eligibility & Features

Interest Rate & Loan Details

  • Interest Rate: 9.50% per annum.
  • Margin: Low margin of 10%.
  • Processing Fee: Flat charges based on loan amount:
    • Up to ₹2 lakh: ₹250
    • Above ₹2 lakh up to ₹5 lakh: ₹500
    • Above ₹5 lakh up to ₹10 lakh: ₹1,000
    • Above ₹10 lakh up to ₹20 lakh: ₹1,500
  • Loan Tenure: Flexible repayment terms.

Eligibility Criteria for City Union Bank Gold Loan

To qualify for a City Union Bank Gold Loan, you must meet the following criteria:

  • Age: Minimum 18 years.
  • Gold Ownership: Ownership of gold ornaments or jewelry.
  • Residency: Must be an Indian resident.

Documents Required

Key documents required to apply for a City Union Bank Gold Loan:

  • Identity Proof: Aadhaar Card, Voter ID, Passport, or Driving License.
  • Address Proof: Utility Bill, Bank Statement, or Passport.
  • Proof of Ownership: Proof of ownership of the gold ornaments.

Loan Amount & Security

Loan Amount: Up to 90% of the gold's value, considering a 10% margin.

Security: Pledge of gold ornaments or jewelry.

Repayment Options

City Union Bank offers flexible repayment options within the loan tenure.

Charges & Fees

  • Processing Fee: As detailed above.
  • Appraisal Fee: Applicable as per bank's guidelines.
  • Prepayment Charges: No pre-closure charges.

Key Considerations Before Applying

Before applying for a City Union Bank Gold Loan, keep the following points in mind:

  • Gold Quality: Gold pledged must meet the bank's purity standards.
  • Loan Agreement: Carefully read the loan terms and conditions before signing.
  • Gold Security: Understand that pledged gold may be forfeited in case of non-repayment.

Contact City Union Bank

If you have any questions or wish to apply for a gold loan, contact City Union Bank:

Disclaimer: The information provided above is based on publicly available data and is subject to change at the bank’s discretion. For the most current details, please visit the official City Union Bank website or contact the nearest City Union Bank branch.