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Featured
IndusInd Bank Gold Loan Online

Loan Amount

Up to Rs 10,00,000

Interest Rate

11.15% to 15.75%
Featured
IndusInd Bank Gold Loan Online

Loan Amount

Up to Rs 10,00,000

Interest Rate

11.15% to 15.75%
Bank
Loan Amount
Interest Rate
Loan Tenure
Processing Fee
Featured Category
IndusInd Bank Gold Loan Online IndusInd Bank Gold Loan
Up to Rs 10,00,000
11.15% to 15.75%
3 months to 36 months
Up to 1% of loan amount, minimum of Rs 750

Bank Name

IndusInd Bank Gold Loan

Processing Fee Range

Up to 1% of loan amount, minimum of Rs 750

Tenure Range

3 months to 36 months

Foreclosure charges

Upto 1% of outstanding amount

Renewal Fees

Up to Rs 550

Interest Rate

11.15% to 15.75%

Time Taken

Around 30 minutes

Carat Requirement

18 ct to 24 ct

Age Required

21 years to 70 years

Document Charges

IndusInd Bank Gold Loan

Gold loan is a secured loan, as the loan is provided by the banks against gold collateral. Banks provide borrowers with this loan by keeping gold jewelry and coins, which is returned back to the loan borrower upon repayment of the loan amount that is due. The IndusInd Bank Gold loan secured with gold ornaments is offered for short to medium term duration and is generally processed within minutes without the need of tedious paper work. When you apply for the gold loan from Goldloanbazaar, you have the option of leveraging the easy to use gold loan bazaar EMI calculator to calculate your monthly payouts in lieu of the loan.

Gold Loan Features & Benefits

We know your gold is worth a thousand sentiments and opportunities. Presenting IndusInd Bank Gold Loans – Smart way to fund your dreams.

  • Swift : Walk in with Gold and walk out with Loan
  • Simple: Easy Documentation and Attractive Interest Rates. Additional discount for Women Borrowers and Agricultural Profession
  • Secure : Gold valued and sealed in your presence to ensure peace of mind
  • Smart : Lower outflow on a monthly basis as compared to various other forms of credit

 

What are the advantages of a IndusInd Bank Gold loan?

Low interest rate on gold loans: In general, interest rates on these loans are lower than on personal loans since this is a relatively low-risk loan for lenders as they hold your gold as collateral. The interest rate also varies depending on how much you want to borrow in relation to the total value of the gold you have pledged. The interest rates of IndusInd Bank Gold Loan are lower when the loan amount is not more than 50-60% of the total value of the gold pledged. However, if the amount borrowed is high as compared to the value of the gold, the interest rate will be correspondingly higher.

Quick process: In India, IndusInd Bank gold loan are some of the quickest loans to be sanctioned as the banks have your gold as security in case of default, removing the need for checks on credit scores or reports. The loan can be approved, over the counter, in a matter of minutes or just a few hours. Many lenders can have your gold valued quickly and sanction the loan immediately, after verification of the purity and value of the gold.

No income proof required: In many cases, you are not even required to submit a salary certificate since your gold is held as security by the lender. So, even if you are currently unemployed or do not have a good credit score, you will still be eligible for this kind of loan. However, it is possible that some lenders might ask for a salary certificate for loans above a certain amount.

 

Highlights of IndusInd Gold Loan

  • Eligibility: To apply for this loan with major banks in India, an individual must own gold and should be above 18 years of age. These are the two key qualifying criteria that make an applicant eligible to get a gold loan.
  • Interest Rate: Most banks and NBFCs in India offer interest rate at a very low rate, which is usually 2-3% higher than the base rate. Interested borrowers can use gold rate interest calculator to find out the latest interest rate offered by the IndusInd Bank Gold Loan in India. Gold loan EMI calculator makes it easy to choose the most suitable Gold loan scheme offered by various banks. This is because you can use the tool to calculate the EMI for various gold loan interest rates.
  • To get your  loan sanctioned, an applicant needs to provide basic KYC documents, which include:
    • Two recent passport size photographs
    • Identity proof documents
    • Passport
    • Ration card
    • Driving license
    • Address proof documents
    • Telephone bill
    • Electricity bill
    • Other utility bills

Brief T&C: IndusInd Bank Gold Loans

  • The tenor of the loan can be selected from 3/6/9 and 12 months.
  • The rate of interest on your loan is fixed rate of interest and is mentioned on the sanction letter provided at the time of disbursement of Loan. The same is calculated per annum with monthly rest during tenor and payable upfront or monthly. Interest will be charged on a daily basis. Interest is to be paid on the due date as mentioned herein. Failure to pay interest on time will be an event of default and may lead to appropriate action by the bank towards the recovery of dues, including the sale of gold, at the sole discretion of the bank. In case of pre-payment or part payment, interest recovered upfront, shall not be refundable.
  • Any default in the payment of installment and /or any other charges will lead to payment of additional interest as applicable for Temporary Overdraft (TOD) i.e. @ the rate of 24% per annum with monthly rest.
  • The price of gold varies from time to time. In case the value of Gold Security falls, whether pursuant to an audit or otherwise, without prejudice the right to sell the Gold Security and/or exercise any other rights or remedies available with the Bank under law, you shall within 5 days of a notice from the Bank deposit, such additional security by way of Gold as may be required or shall make part payment so as to bring outstanding as required by the bank. Failure to make such margin payments may lead to appropriate action by the Bank towards recovery of dues, including sale of gold, at the sole discretion of the bank by giving 7 days notice.
  • You will need to repay the principal amount along with interest due, additional interest, any other charges outstanding dues, on or before the maturity date. The bank may at your request, roll over the loan at the sole discretion of the bank and on the terms and conditions as may be stipulated by the Bank.
  • Bank shall be at liberty to verify the quality and quantity of gold to be pledged with the Bank from time to time for audit, inspection and security purpose. Such verification shall be made in your presence by giving you 7 days’ notice. If you did not remain present then verification shall be carried out in your absence. If any defect found, then you shall be liable to prepay the loan with additional interest.

For detail, T&C click here.

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