Choose Loan Amount
Choose your loan amount and terms to use loan
For Salaried | For Self-Employed | |
Interest Rate | 10.75% onwards | 11.00% onwards |
Loan Tenure | Up to 5 years | Up to 5 years |
Loan Amount | Min. Rs. 24,000, Max. Rs. 15 lakhs | Min. Rs. 25,000, Max. Rs. 15 lakhs |
Processing Fee | 1% of loan sanctioned + Taxes | 1% of loan sanctioned + Taxes |
Pre-payment Charges | 3% of amount prepaid | 3% of amount prepaid |
Foreclosure Charges | 3% of principal outstanding | 3% of principal outstanding |
Kotak mahindra bank offers simple loan process
Choose your loan amount and terms to use loan
Need to provide some basic document to verification
Our loan specialist ask fews question and verify docuements.
Once loan aprroved you get loan amount credit.
You can either visit the official website of the bank to directly apply for a Gold Loan or visit the BankBazaar website to compare different loans and then apply for one which you feel is suitable.
You can either visit the official website of the bank to directly apply for a Gold Loan or visit the BankBazaar website to compare different loans and then apply for one which you feel is suitable.
Bank | Best For | Key Highlights |
---|---|---|
HDFC Bank Gold Loan | Low Interest Rate |
|
Axis Bank Gold Loan | Self-Employed Professional |
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Punjab National Bank Gold Loan | Quick Turnaround Time |
|
Canara Bank Gold Loan | Flexible Interest Rates |
|
Central Bank of India Gold Loan | Short-term Requirement |
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HSBC Bank Gold Loan | Top-Up Loans |
|
Federal Bank Gold Loan | Quick Approval |
|
South Indian Bank Gold Loan | Easy Eligibility Checks |
|
Karur Vysya Bank Gold Loan | Special Offers |
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City Union Bank Gold Loan | Different Income Categories |
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Lakshmi Vilas Bank Gold Loan | Affordable Interest Rates |
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The following factors are considered by lenders while going through your loan application. If you meet these criteria, consider yourself eligible for a Gold Loan.
Criteria | Salaried | Self-Employed |
---|---|---|
Age | 21 years to 60 years | 22 years to 55 years |
Net Monthly Income | Rs.15,000 | Rs.25,000 |
CIBIL Score | Above 750 | Above 750 |
Minimum Loan Amount | Rs.50,000 | Rs.50,000 |
Maximum Loan Amount | Rs.25 lakh | Rs.50 lakh |
Use BankBazaar Gold Loan EMI calculator to calculate your EMI beforehand to plan and manage your finances in a better way. Gold Loan calculator lets you check your loan eligibility and helps you compare loans offered by different banks.
All you need to do is enter the loan details, including your preferred loan amount, interest rate, tenure, and processing fee. Hit "Calculate" to check your EMI. The lowest applicable EMI per lakh for a tenure of 7 years at minimum applicable interest rate is Rs.1,599.
The result is followed by an amortisation table, which will give you a detailed break-up of your repayment schedule.
Requirements | Salaried Individuals | Self Employed |
---|---|---|
Proof of Identity | Passport, Voter’s ID, Driving License or PAN Card | Passport, Voter’s ID, Driving License or PAN Card |
Proof of Residence | Passport or utility bills | Passport or utility bills |
Proof of Income | Bank statement of salary account for the past two years | Audited financial statement of the past two years |
If you are an NRI looking to borrow a Gold Loan, these are the documents that you will need to submit to the lender:
In addition to these, the lenders might also levy charges for documentation, stamping, credit administration, collection, and so on. The levy and the rates of these fees and charges differ from lender to lender. However, you can check the fees and charges which are levied by the top lenders in India before you apply for a Gold Loan.
Do not forget to check the eligibility criteria for the different types of Gold Loans before you apply for one.
A Gold Loan customer can avail an additional loan amount through the top-up facility over his/her existing loan. The loan amount will be subject to the terms and conditions set by the financial lender, while the interest rate may be the same as the existing loan or could be up to 1% more than the interest rate of the current loan. The tenure of the top-up Gold Loan will be subject to that of the existing personal.
The approval of a Gold Loan application depends on many factors. When you apply for a loan, you should make sure that you are fulfilling all the factors to ensure the approval of your loan application. The eligibility criteria for Gold Loans may vary from lender to lender. However, there are some common criteria which include the age of the applicant, his or her income, credit score, the status of employment, and so on. Before you apply for a loan, make sure that all the eligibility criteria are being fulfilled. This will help you avoid the rejection of your loan application. Although there are other options that you can resort to in case your loan application gets rejected, it is recommended to double-check before applying to avoid the chances of rejection of loan application.
If you have recently paid off your Gold Loan (either repaid or foreclosed), you might have the idea that your obligation towards the loan is over. However, that is not the case. There are certain things that you should do after paying off your Gold Loan.
Understand what is the loan amount you are eligible for and what would the EMI be.
you can apply as per your eligibility.
We will match you with a loan program that meet your financial need. In short term liquidity,
by striving to make funds available to them within 24 hours of application.