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Gold Loan @ 10% Onwards
• Pledge collateral to get loan
• Flexible tenure
• Loan at lowest interest rate
Enquiry Form
Gold Loan
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Loan (Lacs) Maximum Tenure (Month) Forclosure Charge
Bank of Baroda
6.60% - 8.00%
1%
25
12
3%
Bank of India
7.40% - 8.00%
1%
25
12
3%
Bank of Maharashtra
7.35% - 8.00%
1%
25
12
3%
Canara Bank
7.00% - 7.50%
1%
25
12
3%
Central Bank of India
8.50% - 9.05%
0.5%
20
12
3%
7.00% - 7.50%
1%
20
12
3%
Indian Bank
7.00% - 8.00%
1%
20
12
3%
Indian Overseas Bank
8.15% - 9.00%
1%
25
36
3%
Punjab & Sind Bank
7.60% - 8.50%
1%
25
12
3%
Punjab National Bank
8.75% - 10.95%
1%
25
12
3%
State Bank of India
7.50% - 8.50%
1%
50
12
3%
UCO Bank
8.50% - 9.50%
1%
25
12
3%
Union Bank of India
7.70% - 8.20%
1%
25
12
3%
United Bank of India
9.35% - 10.00%
1%
10
12
3%
HDFC Bank Ltd
8.95% - 11.02%
1%
20
12
2%
ICICI Bank Ltd.
10.00% - 19.76%
1%
10
12
3%
IDFC First Bank
7.50% - 8.50%
1%
10
12
3%
IndusInd Bank
12.78% - 15.00%
1%
10
12
3%
Kotak Mahindra Bank
10.00% - 17.00%
2%
20
12
3%
RBL Bank Ltd.
10.00% - 11.00%
1%
25
12
3%
South Indian Bank Ltd.
11.95% - 12.00%
1%
25
12
3%
YES Bank Ltd.
9.99% - 11.50%
1%
10
36
3%
Bank Name Min Interest Rate
Bank of Baroda

6.60% - 8.00%

Bank of India

7.40% - 8.00%

Bank of Maharashtra

7.35% - 8.00%

Canara Bank

7.00% - 7.50%

Central Bank of India

8.50% - 9.05%

7.00% - 7.50%

Indian Bank

7.00% - 8.00%

Indian Overseas Bank

8.15% - 9.00%

Punjab & Sind Bank

7.60% - 8.50%

Punjab National Bank

8.75% - 10.95%

State Bank of India

7.50% - 8.50%

UCO Bank

8.50% - 9.50%

Union Bank of India

7.70% - 8.20%

United Bank of India

9.35% - 10.00%

HDFC Bank Ltd

8.95% - 11.02%

ICICI Bank Ltd.

10.00% - 19.76%

IDFC First Bank

7.50% - 8.50%

IndusInd Bank

12.78% - 15.00%

Kotak Mahindra Bank

10.00% - 17.00%

RBL Bank Ltd.

10.00% - 11.00%

South Indian Bank Ltd.

11.95% - 12.00%

YES Bank Ltd.

9.99% - 11.50%

₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by Gold Loan Eligibility Criteria?

Gold Loan is one of the preferred Loan in terms of financial needs. Gold Loan interest rates are most affordable. The best part of the gold loan is it does not need any specific purpose to opt. For any purpose you may opt, it might a personal, business, education, marriage, hospital expense & for number of reasons.

Gold is such an asset that can help you in your hurdle times. It requires only minimal documentation. At the same time, you need to meet specific eligibility criteria to avail Loan Against Gold.

Gold Loan Eligibility Criteria

Usually, Gold Loan Eligibility Criteria depends on various factors like age of applicant, monthly salary or business income of co-applicant, course type & residency..etc.

  • • Age Limit of Individuals – 18 to 60 years of age
  • • If Individual age is above 70 & need to add co-borrower
  • • Gold Karat must be in-between 18 – 24 karat
  • • Nationality - Resident of Indian

Note: - You can avail Maximum Loan Amount on Gold Loan is Up to 90% of Gold Value.

What are the factors affecting Gold Loan Eligibility Criteria?

There are factors that affects Gold Loan Eligibility Criteria as given below: -

Loan Amount: - One of the major reasons affecting eligibility is your requirement, as lenders will fund up to 90% of gold value. Therefore, demanding higher loan amount may lower your eligibility criteria.

Lower Income: - Gold loan might be a secured loan, but lender will check your monthly income to your repaying capacity. As higher the monthly income as the Loan amount depends on your eligibility.

Applicant Age: - This is a significant factor affecting your gold loan eligibility, as per the standard terms & norms of age in-between 18 – 60 years for applying gold loan, therefore avoid before & after the age norms for loan rejection.

How Gold Loan helps to increase Credit Score?

As most of you, for any type of role one common factors that affect your loan application is none than a credit score, it might be personal loan, home loan, business loan, project loan, car loan & various loan.

Due to some unpaid or late paid payment your credit score ranging had affected a lot, how bad would be your credit score might be, you don’t need to worry when you have one ultimate solution to increase your credit score.

If you have gold ornaments & jewelry with you then, no one can stop you from borrowing loan against your gold. By paying Proper EMI on time your credit score range will gradually increase.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST Return last 1 years
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  14. Agreement To Sell copy
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
  3. ADDRESS PROOF – COMPANY AND DIRECTORS.
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM
  6. ORDER IN HAND AND COMPLETE COPY (if applicable)
  7. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  8. 1 YEAR GST RETURNS
  9. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  10. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  11. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  12. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  13. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  14. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  15. AGREEMENT TO SELL COPY
  16. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

Who can avail gold loan?

Any individual within the age group between 18 – 65 years, having a regular income plus must own gold jewellery or gold coins can apply for gold loan.

Does taking a gold loan is good idea or bad idea?

When you have a shortage of finance, off course you opt for loan & that won’t be a bad thing since it’s the ideal way to get finance.

What are the other charges applicable for gold loan?

  • Processing fee
  • Late payment fee
  • Foreclosure Charges
  • Pre-payment charges

How to calculate gold loan?

Calculate EMI for better financial planning, you need to enter loan amount, interest rate & tenure period so that it can predict overall chart.

Does taking a gold loan is good idea or bad idea?

When you have a shortage of finance, off course you opt for loan & that won’t be a bad thing since it’s the ideal way to get finance.

What is the current rates of gold loan?

Gold loan rates starting from @ 7.50 onwards.

Which are the documents required for gold loan?

  • KYC Documents of identity proof & residential proof
  • Income proof
  • Bank statement

How to use gold loan calculator?

Calculating EMI is much simpler because of auto-calculation it lessen your time, just you need to enter loan amount, interest rate & tenure period that all is required for calculating within a few second it present a scheduled chart containing monthly EMI & remaining principal amount.

What is gold loan?

This type of credit facility come under secured loan where you need to pledge your gold ornaments like jewelry to get loan at low interest rates.

What are the benefits of gold loan?

  • Loan at competitive interest rates 
  • Required minimal documentation 
  • Simplified document processing 
  • Flexible tenure facility 
  • Doorstep assistance available 

How does gold loan works?

If you are planning to avail gold loan, firstly search, compare & choose your financial partner to apply. Contact them via filling up enquiry form in website or visit nearest bank for further information.

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Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...

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