Axis Bank Gold Loan Interest Rates

You can use an Axis Bank gold loan to get the money you need right away by pledging your gold jewellery or gold coins as security. One of the quickest lending options is a gold loan, which is available to both new and existing Axis Bank customers. You may easily apply for a gold loan with Axis Bank, and the interest rate starts at 12.50%.

Details of the Axis Bank Gold Loan Scheme

Age Criteria

18-75 years

Amounts

Rs. 25,001 - Rs. 25 Lakh

Axis Bank gold loan interest rate

12.50%

Tenures

Three years

Accepted Items

Jewelry and gold coins sold by banks

Processing Charges

1%

Characteristics of the Axis Bank Gold Loan Scheme

  • The Axis Bank gold loan provides consumers with a straightforward approach to meet all kinds of personal needs, including weddings, schooling, business expansion, etc.
  • Loan Minimum: The loan minimum is 25,001 Indian Rupees.
  • The maximum loan amount for an Axis Bank gold loan is INR 20 lakhs because it is a secured loan.
  • Axis gold loan interest rate: The gold loan interest in Axis Bank ranges from 14.50% to 17%.
  • Storage: After the full loan has been repaid, you can retrieve the gold jewelry you gave the bank as collateral from the bank's safe.
  • Axis Bank gold loan per gram rate today: The gold loan amount per gram fluctuates depending on the purity of the gold and market prices, ranging from INR 1755 to 2145.
  • Gold Loan Tenure: The Axis Bank gold loan has a payback term that ranges from six months to three years.
  • Processing Fees: For an Axis Bank gold loan, the borrower must pay a processing charge equal to 1% of the loan amount.
  • Prepayment Fees: The Axis Bank gold loan has no prepayment fees.

Axis Bank Jewel Loan Interest Rate

  • The effective interest rate ranges from 12.50% to 17.50%.
  • If you choose to close the loan early, after 11 months from the disbursal date, there are no fees associated with doing so.
  • If you pre-close the loan between three and six months, the foreclosure fee is 1% of the disbursal amount plus taxes.
  • If you preclose from 6 to 11 months before loan disbursal, the fees are 0.50% of the approved amount plus taxes.
  • 2% of the sanctioned amount plus taxes will be charged if you foreclose on the loan three months after it has been approved.

Who is Eligible for the Axis Bank Gold Loan Scheme?

  • For the bank's gold loan, the applicant must be between the ages of 18 and 75.
  • The borrower is required to possess gold in any form, including jewelry, accessories, etc.

What are the Documents Required to Opt for the Gold Loan Scheme from Axis Bank?

When applying for an Axis Bank gold loan, the following documents must be submitted.

  • The applicant filled out the application form completely.
  • Images of the applicant.
  • Voter ID cards, passports, driver's licenses, and UIDAI-issued Aadhaar cards are all acceptable forms of identification.
  • Voter ID cards, passports, driver's licenses, and UIDAI-provided Aadhaar cards are all acceptable forms of address verification.

Types of Gold Loan Schemes Available from Axis Bank

Following are the types of Gold Loan Schemes Available from Axis Bank-

1) Gold Loan Retail

  • Between Rs. 25,001 to Rs. 25 lakhs are being borrowed.
  • The pledged asset is kept by the bank in secure vaults.
  • There is a maximum 36-month term. There are several flexible repayment alternatives.
  • Pay in installments over time, or pay back the principal plus interest at the end of the term.
  • Alternatively, pay the principal in full at the end of the term, along with interest.
  • The loan amount may be used for both urgent expenses and private needs.
  • Low interest rates as low as 12.50% are based on the MCLR.

2) Gold Loan Overdraft

  • The loan ranges from two lakhs to twenty-five lakhs rupees.
  • The bank has protected vaults where the pledged asset is kept safe.
  • Only on the amount you utilize do you have to pay interest.
  • The term may not exceed a year. After the bank reviews the account, renewal may be allowed.
  • The loan application will be approved on the same day.
  • Money can be withdrawn using cheque books or ATMs.

3) Gold Loan Agriculture

  • Between Rs. 25,001 to Rs. 25 lakhs are being borrowed.
  • The pledged property will be kept by the bank in secure vaults.
  • Disbursement will be made to you the same day your loan application is approved.
  • The loan amount will be sent to you via NEFT, account transfer, DD, or RTGS.
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