IDBI Bank Gold Loan Key Features
|Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|IDBI Bank Gold Loan Interest Rate||7.25% per annum|
|IDBI Bank Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,219
|Processing Fee||1.50% of the Principal Loan Amount|
|Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Repayment Tenure||3 Months to 24 Months|
|Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
Advantages of IDBI Bank Gold Loan
- Fast Process: IDBI Bank Gold Loan gets approved and payout easily. The loan is within an hour.
- Minimal Documents: For IDBI Bank Gold Loan document process is straightforward and only essential documents are required
- Transparent System: Complete clarity is provided to the customer, there are no hidden charges.
- Amount of Loan: The least amount of loan provided to the customer is Rs. 15000. In rural areas, the minimum amount can also be less than Rs 10000.
- Safety of Jewellery: IDBI Bank is accountable for the security of your gold. Thus, the gold is provided fireproof protection.
- Loan Tenure: The loan is provided for the term from 3 months to 2 years.
- Benefits for Farmers: IDBI Bank prevails some special offers for agricultural purposes. Low Gold Loan interest rate for agricultural uses are provided.
- No Debt Burden: If in any situation the applicant is not able to pay the loan amount the applicant will not be under debts. Only the ornaments will be confiscated.
- No Income bounds: there are no limitations on the salary of the applicant. Hence, applicants with any income level can avail a gold loan.
How much of the Gold Loan can I Get through IDBI Bank Gold Loan
IDBI Bank Gold Loan Per Gram – Updated September 2020
Updated - Gold Loan Per Gram Rate
Call on 9878981144 to avail Best Deals and Offers on IDBI Bank Gold Loan Per Gram.
IDBI Bank Gold Loan Eligibility
The applicants for Gold Loan are eligible only if they fulfil the following criteria:
18-70 years of age Salaried, Self-Employed Minimum 18 Carats
18-70 years of age
Minimum 18 Carats
IDBI Bank Gold Loan Documents Required
In IDBI Bank Gold Loan minimal documentation is required to easily access to the gold loan. Listing the essential documents that are required:
2 Passport Size
Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)
IDBI Bank Gold Loan Interest Rate, Fees and Charges
Gold is under the category of secured loans where it is used as security which is available at a low-interest rate. Therefore, the Gold Loan interest rates are more inferior than that of the personal loan or any other type of loans. The Gold Loan rate keeps on varying time to time as well as person to person.
1.50% of the Principal Loan Amount 2%+GST (Within 3 Months), 0 (After 3 months) Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs 2% p.a. + Applicable rate of interest.
HDFC Gold Loan Interest Rate
7.00% per annum
Late Repayment Charges
Renewal Processing Fees
Rs 350 + GST
1.50% of the Principal Loan Amount
2%+GST (Within 3 Months), 0 (After 3 months)
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
2% p.a. + Applicable rate of interest.
About IDBI Bank Gold Loan
Gold Loan is a loan that is provided against the gold. It includes the gold adornments of the borrower that bank collaterals in exchange for lending money. This process is done for the benefits of the borrower. IDBI Bank has a skilled advanced product. Consumers avail of IDBI Bank Gold Loan with a nominal and affordable banking rates. It is a highly honourable gold loan provider apart from other banking or non-banking committees.
- IDBI Bank Gold Loan Interest Rate is 7.25% per annum
- IDBI Bank Gold Loan Per Gram is ₹ 5,219
- IDBI Bank Gold Loan Tenure is Up to 24 months
- IDBI Bank Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST
Types of IDBI Bank Gold Loan
IDBI Bank provides specific schemes linked to Gold Loan Products that are described below:
- Loan against Gold – IDBI Bank provides an attractive interest rate gold loan for any reason, whether personal or professional, to fulfil the immediate requirement of one’s funds. Indeed, a gold loan is a secured loan; the bank has no risk of lending money to a person, so it is given at a lower interest rate than various kinds of loan items.
- Agriculture Gold Loans – Compared to gold secured loans given for different needs, IDBI Bank provides farmers with gold secured loans at special interest rates, especially for agricultural needs. Special offers are provided and proof should be given of the bank’s land for which it takes loans.
IDBI Bank Gold Loan EMI Calculator
Rate of Interest
How to Pay Your the IDBI Bank Gold Loan EMI?
- Standing Instruction (SI): If you are a recent account holder with IDBI Bank, Standing Instruction is the amazingly trustworthy method to pay. Your EMI aggregate will be attributed sensibly while in transit to the month’s conclusion to the month from IDBI Bank account you show.
- Electronic Clearing Service (ECS): The program can be helpful in the occurrence that you have a non – IDBI Bank and may require your EMIs to be charged henceforth near the most noteworthy restriction of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can introduce post-dated EMI examinations from a non-IDBI Bank account at your closest IDBI Bank Loan Center. Another technique for PDCs ought to be available in an exact manner. It will be incredible in the sign that you note Post Dated Checks will be gathered non-ECS states typically.
IDBI Bank Gold Loan Contact Number
Call at 9878981144 to get instant help and approval for your IDBI Bank Gold Loan. You can know best offers on Gold Loan available from all the IDBI Bank Branches throughout the country to avail the best deal suitable to your needs.
Gold Ornaments Accepted by IDBI Bank
- Gold Jewellery like Gold Bangles, Gold rings, Gold anklets, Gold Necklaces etc. are all accepted by IDBI Bank for seeking Gold Loan
- Quality: Tthe quality of Gold should be between 18 to 22 Carat. Any 24 Carat gold ornaments cannot be used to avail a gold loan.
Use of IDBI Bank Gold Loan
The fund that is obtained by IDBI Bank Gold Loan services can be used for several purposes:
- Fund for any particular investments such as hiking, matrimony, instalment of higher tuition payments, etc.
- Loan services are available for marketing requirements like purchasing fresh supply, developing marketing, etc.
- Additional Gold Loan can also be availed for horizontal ideas. the bank provides a lower rate of interest for Gold Loans that are available for farming or farming-related projects.
Bank 7.25% – 14.50% 7.25% – 24.00% 7.25% – 26.00% 7.25% – 26.00% 7.25% – 12.00% 7.25% – 12.65% 7.25% – 10.45% 7.25% – 11.75% 7.25% – 15.99% 7.25% – 26.00% 7.25% – 12.00%
Gold Loan Interest Rate of Major Banks
7.25% – 16.10%
Muthoot Finance Gold Loan
7.25% – 17.00%
Manappuram Gold Loan
7.25% – 15.99%
Bank of India Gold Loan
7.25% – 13.50%
IIFL Gold Loan
7.25% – 14.65%
Allahabad Bank Gold Loan
7.25% – 15.75%
PNB Gold Loan
7.25% – 26%
SBI Gold Loan
7.25% – 15.99%
UCO Bank Gold Loan
7.25% – 13.50%
Syndicate Bank Gold Loan
7.25% – 14.50%
7.25% – 24.00%
7.25% – 26.00%
7.25% – 26.00%
7.25% – 12.00%
7.25% – 12.65%
7.25% – 10.45%
7.25% – 11.75%
7.25% – 15.99%
7.25% – 26.00%
7.25% – 12.00%
FAQs About IDBI Bank Gold Loan
What is IDBI Bank Gold Loan?
IDBI Bank Gold Loan is a loan scheme where you can access for any emergency financial help by keeping your gold as a guarantee with the bank. It comes with engaging interest rates on Term Loan, Overdraft and EMI based loan. Average Gold Loan disbursal time is just 45 minutes.
How can I obtain the Gold Loan from the IDBI Bank?
You can get IDBI Bank Gold Loan by being to any nearby Gold Loan offering branch. Even you can access to Gold Loan online with LoanNow from anywhere and get the best deals and offers.
What is the Gold Loan Interest Rate in IDBI Bank?
The Gold Loan interest rate in IDBI Bank is 7.25% per annum. The rate of interest depends on various criteria namely: loan amount, loan tenure, purity of gold etc.
How much of the Gold Loan can I get per gram in IDBI Bank?
The value of per gram Gold Loan purely depends on the purity and quality of the gold. IDBI Bank believes gold purity between 18 to 22 carats to provide a Gold Loan. You can avail up to Rs. 5,219 per gram in IDBI Bank Gold Loan.
How can I check Gold Loan status in IDBI Bank?
To check the status of IDBI Bank Gold Loan you can visit IDBI Bank Loan Tracker. Fill up your particulars in the provided form. This can easily help you to track the status of your loan from anywhere at any time and keeps you updated.
How can I calculate Gold Loan Interest in IDBI Bank?
IDBI Bank Gold Loan interest can be calculated using LoanNow’s EMI Calculator. It gives you the accurate details based on the information the applicant enters in the calculator
How to Pay the IDBI Bank Gold Loan Interest Online?
IDBI Bank Gold Loan interest can be paid through net banking on the official IDBI Bank loan repayment web page or alternatively. Another mode Paytm can also be used to repay IDBI Bank Gold Loan or your preferred payment method.
What if I cannot pay the interest on the IDBI Bank Gold Loan for 3 months?
If the interest is not paid back for 3 months, then initially a reminder is given for your pending dues. After this, if the payment requests go ignored or unheard then an official legal notice is sent, that demands the repayment and closure of the loan. Such defaults on your Gold Loan ends up in a decrease of your credit score and also make you accountable to face legal actions by the bank which may include confiscation and auction of your gold.
How can I apply to the EMI Moratorium on the IDBI Bank Gold Loan?
You can apply for EMI Moratorium on IDBI Bank Gold Loan between 1st March and 31st August 2020. You can get it done by contacting the Bank Customer Care or visiting the nearby IDBI Bank branch.