Interest Rate & Loan Details
- Interest Rate: 9.15% – 9.35%
- Loan Tenure: Up to 12 months (as per RBI guidelines)
- Processing Fee: As decided by the bank from time to time
- Guarantor Required: No
- Pre-closure Charges: As per bank norms
Purpose of Gold Loan
Tamil Nadu Grama Bank provides Gold Loans against pledged gold ornaments and gold coins to
meet urgent financial needs with low interest rates and quick disbursement.
Eligibility Criteria
- Age: Minimum 18 years
- Ownership: Must own gold/gold ornaments/gold coins
- Income: Regular income (optional)
- Bank Account: Savings or Current account with Tamil Nadu Grama Bank (optional)
Documents Required
The following documents are required to apply for a Tamil Nadu Grama Bank Gold Loan:
- Application Form: Duly filled and signed
- Photographs: Two passport-size photos
- Identity Proof (Any one):
- Aadhaar Card
- PAN Card
- Voter ID
- Passport
- Driving License
- Govt. Dept. ID
- Address Proof (Any one):
- Bank statement
- Electricity bill
- Mobile or telephone bill
- Credit card statement
- Lease agreement
- Income Proof (Optional): Latest salary slip / Form 16 / IT Returns for past two years
Loan Amount & Security
- Loan Amount: Up to 70% of the gold’s market value
- Security: Pledged gold ornaments, coins (Excludes embedded gemstones)
Repayment Options
- EMI-Based Repayment
- Bullet Payment: Interest paid regularly, principal amount paid at the end of the tenure
Charges & Fees
- Processing Fee: Varies, negotiable with the bank
- Gold Valuation Fee: Applicable (paid to third-party valuers)
- Prepayment Penalty: Charged in some cases
- Late Payment Penalty: Applicable if interest payments are delayed
Key Considerations Before Applying
- Gold Collateral: Gold pledged as collateral must be 18-22 carat or above
- Emotional Factor: Borrowers must be aware that pledged gold may be forfeited if the loan is not repaid
- Loan Terms: Read loan agreement carefully before signing
Contact Tamil Nadu Grama Bank
📞 Customer Care: 0427-2522900, 0427-2522970
🌐 Official Website: www.tamilnadugramabank.com
📧 Email: headoffice@tngb.co.in
Disclaimer: The information provided above is based on publicly available data and is subject to change at the discretion of Tamil Nadu Grama Bank. For the most accurate and up-to-date details, please visit the official Tamil Nadu Grama Bank website or contact the nearest Tamil Nadu Grama Bank branch.