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Karnataka Bank Gold Loan Highlights |
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| Interest Rates | KBL Gold Loan: 10.68% p.a.
KBL Swarna Bandhu Scheme: 13.50% p.a. |
| Collateral | Pledge of gold ornaments |
| Loan Tenure | 6 months to 1 year |
| Loan Amount | Up to Rs 50 lakhs (Up to Rs 1 lakh under KBL Swarna Bandhu Scheme) |
| Gold Loan Repayment Facility | Overdraft, term repayment overdraft and bullet repayment |
| Processing Fee | NIL |
Last updated as of 12 November 2024
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Karnataka Bank Gold Loan Interest Rate
The bank provides KBL Gold Loan at an interest rate of 10.68% p.a., and the KBL Swarna Bandhu Scheme at an interest rate of 13.50% p.a. The bank can consider the credit profile of the applicant, loan tenure, quality of the gold jewellery offered as collateral, etc. while setting gold loan interest rates for its customers.
Karnataka Bank Gold Loan Fees & Charges
Processing Fees & Handling Charges
| Particulars | Charges |
| Processing Fees | NIL |
| Handling Charges | NIL |
Reappraisal Charges for Gold Loans
| Particulars | Charges |
| Up to 10 gold packets | Maximum Rs 500 |
| Above 10 packets | Maximum of Rs 500 plus Rs 25/- per packet from the 11th gold loan packet and conveyance |
Types of Karnataka Bank Gold Loan
KBL Gold Loan
Purpose
Karnataka Bank offers a ‘KBL Gold Loan’ against the security of gold ornaments. Applicants can use this loan for any personal purposes such as marriage, education, business expansion, etc. except speculation purposes.
Loan amount
Applicants can avail Karnataka Bank Gold Loans for up to Rs 50 lakhs.
Tenure
The bank offers gold loans for tenures of 6 months to 1 year.
Repayment Facility
Applicants can either repay their interest on gold loans through overdraft, term repayment overdraft and bullet repayment.
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KBL Swarna Bandhu Scheme
Purpose
Karnataka Bank has launched a new gold loan scheme called ‘KBL Swarna Bandhu.’ This initiative allows the bank to provide gold loan services directly at the customer’s doorstep. The scheme has been introduced in association with Sahibandhu FinTech Services Pvt. Ltd., serving as the Business Correspondent and Business Facilitator.
Loan amount
The loan under KBL Swarna Bandhu Gold Loans ranges from Rs 50,000 to Rs 1 lakh.
Tenure
The bank offers gold loans under KBL Swarna Bandhu Gold Loan scheme for a tenure of up to 1 year.
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Eligibility Criteria for availing Karnataka Bank Gold Loan
Karnataka Bank has not disclosed the eligibility criteria for availing gold loans. Prospective gold loan applicants can visit the branch for the same.
Documents Required for Karnataka Bank Gold Loan Application
Karnataka Bank has not stated the list of documents for availing gold loan. Applicants can visit bank branches for the same.
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Karnataka Gold Bank Loan EMI Calculator
Karnataka Bank has not stated whether it provides a gold loan with an EMI repayment option. Applicants planning to take gold loans on EMI can consider other lenders that offer EMI gold loan facilities. Additionally, applicants can use the lender’s Gold Loan EMI Calculator or Paisabazaar’s online Gold Loan EMI Calculator to calculate the EMI based on the chosen loan tenure and interest rate.