Gold Loan

The Universal Co-Operative Urban Bank Ltd. offers Gold Loan services to help individuals meet their financial needs by leveraging their gold assets. This is a quick and secure way to get funds for various purposes without having to sell your precious ornaments.

Key Features & Benefits:

► Quick Disbursal: The bank aims for fast approval and disbursement of funds, often within a short period, once the gold has been evaluated.

► Competitive Interest Rates: The bank offers attractive interest rates on gold loans.

► Purpose of Loan: Funds can be used for a wide range of personal, domestic, agricultural, or business needs.

► Safety & Security: Your gold ornaments are stored securely in the bank's vaults, ensuring peace of mind.

► Simple Documentation: The process requires minimal documentation, making it hassle-free for borrowers.

Eligibility:

  • The applicant must be an individual and the true owner of the gold ornaments and jewelry being pledged.
  • The applicant should be a resident and, in some cases, an existing customer of the bank. If not, an account may need to be opened first, subject to KYC norms.
  • The minimum age of the applicant is generally 18 or 21 years.

Required Documents:

  • A duly filled-in application form for the gold loan.
  • KYC documents: Proof of identity (e.g., Voter ID, Passport, Driving Licence) and proof of address (e.g., Ration Card, BSNL bill).
  • Passport-size photographs.
  • A declaration of ownership of the gold ornaments.
  • An appraiser's report (arranged by the bank).
  • In some cases, income proof may be required, especially for higher loan amounts.