Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Vijaya Bank Gold Loan is Rated as "Excellent!" by 18 Users

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    Vijaya Bank Gold Loan

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    Overview about Vijaya Bank Gold Loan

    With all the fluctuations in interest rates, opting for a gold loan instead of a personal loan will offer you more advantages. Gold loan will offer you countless benefits including minimal documentation, easy application procedure and fast processing. Vijaya Bank Gold Loan is one of the most sought-after jewel loan products in the market because of the customer - centric features that it offers. Vijaya Bank Gold Loan will be your “friend in need” and will help you realize all your goals without finances being a hurdle.

    Types of Vijaya Bank Gold Loan

    Vijaya Bank offers two types of gold loan for the benefit of borrowers. The two variants of Vijaya Bank Gold Loan are as follows.

    • Vijaya Bank Jewel Loan

      Vijaya Bank Jewel Loan is offered to individuals of all income groups. The loan amount will be based on a daily price quoted by the bank.

    • Vijaya Gold Cash Credit

      Vijaya Gold Cash Credit is offered to existing customers of Vijaya Bank. Under this scheme, the borrower can avail credit facility in form of an operative cash credit facility against pledge of gold jewellery.

    Features and Benefits of Vijaya Bank Gold Loan

    Here are some of the features and benefits of Vijaya Bank Gold Loan that sets it apart from other gold loan products in the market.

    • The credit from Vijaya Bank Gold Loan can be used for a variety of purposes like retail trade, housing, education, small business micro credit and personal cash requirements.
    • Under Vijaya Gold - Cash Credit scheme, the customer can get a credit facility by placing jewels as security. Since this account is an “Operative Cash Credit Facility”, borrowers can make any number of credits and withdrawals (within the limit).
    • With Vijaya Gold - Cash Credit scheme, the borrower does not have to make repetitive documentation or pledge and release of jewels.
    • Customers are offered the choice to select between fixed term loan or the operative limit, based on their needs.
    • Borrowers can choose a comfortable repayment tenure. Vijaya Bank Gold Loan is offered for a period of 12 months or an operative limit of 2 years.

    Vijaya Bank Gold Loan Interest Rates

    The interest rates for Vijaya Bank Gold Loan varies from 11% per annum to up to 17% per annum depending on several factors including the loan quantum, repayment period and gold loan scheme. As interest rates are subject to frequent revision, do enquire with Vijaya Bank before applying for a gold loan.

    Eligibility for Vijaya Bank Gold Loan

    The eligibility criteria for Vijaya Bank Gold Loan schemes are given below.

    • Vijaya Bank Jewel Loan

      Individuals from all income groups including salaried, self - employed and professional candidates can apply.

    • Vijaya Gold Cash Credit Facility

      This scheme is offered to existing customers of Vijaya Bank. The borrower must be over 18 years of age.

    Documentation Required for Vijaya Bank Gold Loan

    The applicant has to submit the following documents at the time of application.

    • Completely filled application form and recent passport size photographs
    • Application for loan or cash credit against pledge of gold ornaments
    • Agreement for demand cash credit against pledge of jewels
    • Identity Proof documents (any one of the following - PAN card, passport, Voter ID, driving license, Aadhar card etc)
    • Address Proof Documents (any one of the following - ration card, passport, recent utility bills, voter ID, driving license, Aadhar card etc)

    Fees and Charges for Vijaya Bank Gold Loan

    The jewel appraisal charges for Vijaya Bank Gold Loan are given below.

    Area of Borrower Proposed Jewel Appraisal Charges
    Non - rural areas 0. 25% of the loan amount, minimum of Rs. 102 and maximum of Rs. 510.
    Rural Areas 0. 10% of the loan amount, minimum of Rs. 51 and maximum of Rs. 510.

    Vijaya Bank Gold Loan FAQs

    1. What is the maximum repayment tenure for Vijaya Bank Gold Loan Cash credit Scheme?

      The cash credit is offered for a maximum repayment period of 2 years subject to an annual review of the account during which if the account is within the sanctioned limit or DP (whichever is lower) will be ensured.

    2. What is the security for Vijaya Bank Gold Loan Cash credit Scheme?

      The customer must pledge gold ornaments which bear the Hallmark sign or 22 carat gold ornaments as security. The jewel appraiser will indicate in his report of the ornament bears the Hallmark sign or not.

    3. How is credit limit assessed for Vijaya Bank Gold Loan Cash credit Scheme?

      The credit limit will be assessed based on the following points.

      • The loan amount will be based on the maximum amount per gram or the rate of advance fixed by Vijaya Bank from time to time.

        At present, the rate of advance is as follows.

        Type of security Credit in Rs. per Gram
        For Hallmarked Jewellery and gold ornaments Rs. 1900 per gram
        For 22 carat gold jewellery and ornaments Rs. 1900 per gram
      • The credit offered will be 65% of the value of jewels as appraised by jewel appraiser of Vijaya Bank.
    4. What is the minimum loan limit for Vijaya Bank Gold Loan?

      The minimum loan quantum is fixed depending on the area.

      Area Limit
      Urban, metro and A class cities Rs. 50, 000
      Semi Urban Rs. 15, 000
      Rural Rs. 5, 000
    5. What is the margin prescribed for Vijaya Bank Gold Loan?

      The prescribed margin is 25% to 33%.

    Vijaya Bank Gold Loan Reviews

    • Vijaya Bank Personal Loan
      "Process is fantastic"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Vijaya Bank two years ago. The process was perfect and there were no hassles in getting my loan through. The interest rate was a bit high, it was around 13% and the processing charges was okay. I am happy that the process to get the loan was swift.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 22, 2017
    • Vijaya Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I got the salaried account with VIJAYA bank. Based on the salaried account, I got the home loan and personal loan from vijaya bank. They took around 15 days to disburse my personal loan . The rate of interest is nominal with Vijaya bank. I am happy with the loan amount and satisfied with the service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2017
    • Vijaya Bank Personal Loan
      " Hassle free"
      0.5 5.0/5 "Blown Away!"
      Two years back, I had taken personal loan from Vijaya bank, still its running. I took the loan amount of Rs.5 Lakhs this is for a tenure of five years with the rate of interest of 13% and there was no processing fee too. Vijaya Bank has got part payment and preclosure option too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 03, 2017
    • Vijaya Bank Personal Loan
      "VERY GOOD"
      0.5 4.0/5 "Great!"
      The best personal loan that I have ever taken was from Vijaya Bank the service offered by them was good. I had applied for the personal loan twice before with the same bank. However I am an account holder of Vijaya bank they had offered me the least interest rate which was 14.05% Documentation process was simple.
      Was this review helpful? 0
      , hospet
      Reviewed on Mar 08, 2017
    • Vijaya Bank Personal Loan
      "Excellent !!!!"
      0.5 5.0/5 "Blown Away!"
      I have the salaried account with vijaya bank. I submitted document for the personal loan on the same day the amount was credited. Every thing went on smooth as i am already a know customer to them. The cheapest interest rate was offered like they were charging the base rate which gets on reduces.
      Was this review helpful? 1
      , mumbai
      Reviewed on Apr 30, 2016
    • Vijaya Bank Personal Loan
      "Wonderful"
      0.5 4.0/5 "Great!"
      I have closed the personal loan with the Vijaya bank and the interest rate was okay with them. I got the loan to be disbursed within a week of time. Customer service and the responsiveness are good with the Vijaya bank.
      Was this review helpful? 1
      , chennai
      Reviewed on Mar 01, 2016
    • Vijaya Bank Personal Loan
      "Very good"
      0.5 3.0/5 "Satisfactory"
      Vijaya bank has given the personal loan with 13.7% interest rate. They took only four to five working hours to disburse the amount after completing the documentation. Compared to other bank the required documents is very high with vijaya
      Was this review helpful? 1
      , bellary
      Reviewed on Jan 22, 2016
    • Vijaya Bank Personal Loan
      "Happiest customer..."
      0.5 5.0/5 "Blown Away!"
      Vijaya bank is not that huge but they processed and delivered the personal loan on time. In five to six days I received one lakh. I can also rate more than five for Vijaya bank as literally they good. Directly the officers came my place to collect papers and within 24 hours they disbursed from the time of documentation. For personal loan the interest rate is just 9%.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 27, 2015
    • Vijaya Bank Personal Loan
      "Good Enough!!"
      0.5 3.0/5 "Satisfactory"
      They do not have a online system so everything was done offline. Immediately an executive came to collect the documents. In a weeks time they have approved my loan. Interest rate was around 15% hence satisfied. Very nominal processing fee was charged. Service was good. It would be better if Vijaya Bank establish online system so that it will be helpful.
      Was this review helpful? 0
      , bellary
      Reviewed on Nov 25, 2015
    • Vijaya Bank Personal Loan
      "Its fine"
      0.5 4.0/5 "Great!"
      The first and foremost reason for selecting Vijaya bank for the personal loan was the interest rate . The rate of interest offered by them was 13.7% and the processing fee for 3 lakhs is rs 3400. Online is not good when compared with ICICI. No discounts was given on the processing fee. Insurance was there however I did not opt for it.
      Was this review helpful? 1
      , bellary
      Reviewed on Nov 24, 2015
    • Vijaya Bank Personal Loan
      "The best loan"
      0.5 5.0/5 "Blown Away!"
      he best personal loan that I have ever taken was from Vijaya Bank the service offered by them was good. This loan was offered based on my salary account. I have applied for many banks. Interest rate offered by other bank were charging around 19%. However I am an account holder of Vijaya bank they have offered me the least interest rate which was 14.30% as of now its 14%. When I apply for other banks will take to force to take insurance where with Vijaya no such charges only handling fee was there.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 17, 2015
    • Vijaya Bank Personal Loan
      "Best rates "
      0.5 4.0/5 "Great!"
      Vijaya Bank have processed the loan application within 3-7days and they are good in loan process.Since I maintain my salary account with the same bank it was a easy process to get the loan.The response provided was not that good but they offer the best interest rate for the loan.
      Was this review helpful? 3
      , bangalore
      Reviewed on Oct 28, 2015
    • Vijaya Bank Personal Loan
      "Simple Documentation"
      0.5 5.0/5 "Blown Away!"
      Vijaya bank disbursed the personal l loan within 24 hour after submitting the document as the manger was good. Interest rate offered was approximately 13.5% which was low compared to other banks and the processing fee was nominal. Documentation process was simple.
      Was this review helpful? 2
      , angul
      Reviewed on Oct 26, 2015
    • Vijaya Bank Personal Loan
      "Twice taken "
      0.5 4.0/5 "Great!"
      I am having my salary account with VIJAYA bank. I took the personal loan from them which is for 2 lakhs. They have offered me the common rate of interest which is available in the market. I completed this loan before in one year itself. I do not find any difficulties with them.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 20, 2015
    • Vijaya Bank Personal Loan
      "Not satisfied.."
      0.5 2.0/5 "Expected more"
      I actually pre closed the personal loan from Vijaya bank because not satisfied with the services of the bank. The rate was 16% which is reducing basis. Just for sanctioning of one lakh they took almost three months, which is dissatisfied. Pre closure charge was nil.
      Was this review helpful? 1
      , mysore
      Reviewed on Sep 18, 2015
    • Vijaya Bank Personal Loan
      "Satisfactory.."
      0.5 5.0/5 "Blown Away!"
      VIJAYA Bank offered me a Personal loan with 10.50% rate of interest and compare to other banks its quiet less. Loan process was very fast and I am happy with their service. Processing charges charged by them was 500rs. I am getting regular alerts from them also.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 14, 2015
    • Vijaya Bank Personal Loan
      "Satisfactory.."
      0.5 4.5/5 "Excellent!"
      VIJAYA Bank is the best and convenient for to take Personal loan. Loan process was very fast. When I applied for the personal loan, verification was done by the same day Documentary also collected and they disbursed the loan amount within a day. Rate of interest offered by them 16.5% compare to HDFC Bank its less. Processing charges 4% its quiet high.
      Was this review helpful? 3
      , bellary
      Reviewed on Sep 12, 2015
    • Vijaya Bank Personal Loan
      "Quite ok"
      0.5 2.0/5 "Expected more"
      I avail a personal loan from Vijaya bank and i feel there must be improvisation on their overall services. Processing of loan was quite ok but customer service needs to take lot of initiative, interest rate is also quite higher, it would be better if it is negotiable. Overall i could say there must be some improvement on their services.
      Was this review helpful? 5
      , bangalore
      Reviewed on May 29, 2014
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