HDFC Bank Gold Loan Interest Rates

The interest rates given to gold loan applicants who choose a term loan option have not been publicized by HDFC Bank. The interest rate for the HDFC Bank Gold loan scheme should, however, be lower than those for HDFC Bank Personal Loans or other unsecured loan products the bank offers because it is a secured loan.

Interest rates for HDFC Bank Gold Loans will probably be determined by the applicant's credit history.

Details of the HDFC Bank Gold Loan Scheme

Get the details of HDFC Bank gold loan interest rate, processing charges, HDFC gold loan rate per gram today etc. here-

HDFC Bank Gold Loan Interest Rate

The HDFC gold loan interest rate mainly depends on the credibility

Processing Charges

1%

Tenures

24 months

Amounts

Start at Rs. 25,000

HDFC Gold Loan Interest Rate 2022

Type of Gold Loan Scheme

Interest Rate

Term Loan

Depending on the profile

Overdraft

18%

Characteristics of the Gold Loan Scheme from HDFC Bank

The following highlights some of the unique qualities of the HDFC Gold Loan.

  • The loan amount can be used to satisfy any real financial need with a multipurpose loan.
  • Quick approval - Fewer difficulties and delays are caused by minimal documentation, which leads to quick approval.
  • Loan amount - Individuals can obtain loans in quantities that meet their needs, and HDFC Bank is willing to take individual circumstances into account.
  • Flexible repayment options - Borrowers have the opportunity to select a duration that best meets their repayment requirements and can repay the loan through flexible EMIs.
  • Prepayment - Without having to worry about hefty prepayment penalties, borrowers may prepay the loan.
  • Low processing fee - With general trends and competitiveness in mind, borrowers are only paid a small processing fee.
  • Competitive interest rates - HDFC Bank charges a very competitive interest rate on this gold lending program, with special rates available in some cases.
  • Transparency is maintained at all times, and there are no hidden fees.
  • Safety - A three-tier sealing mechanism is in place to keep the collateral that people have pledged safe.

Who is Eligible for the Gold Loan Scheme from HDFC Bank?

Those who are interested in applying for this gold loan must meet a few requirements.

  • Applicants should be able to afford the loan's repayment amount.
  • Loan applicants may only apply for this loan after putting up gold as collateral.

Required Documents Needed Gold Loan Scheme from the HDFC Bank

With a one-page procedure in place, HDFC has minimized the documentation process for this loan offer. The following papers must be provided in order for an application to be processed.

  • A valid ID that has been approved by the government (PAN card, Passport, DL, etc.)
  • A valid address proof that has received official approval (utility bill, passport, Aadhar card, ration card, etc.)
  • Applications must be properly completed and signed.
  • Any further paperwork that HDFC Bank deems essential to complete the application process may be requested.

Other Charges Over the Gold Loan Scheme from the HDFC Bank

Processing Fee

1%

Foreclosure Charge

1% + GST

Renewal Charge

Rs. 350 + Tax

What are the Benefits of the Gold Loan Scheme from the HDFC Bank?

  • The Process is Quick: The HDFC Gold Loan is approved and paid out quite easily. Within an hour, the loan is approved.
  • Fewer Documents: The HDFC gold loan paperwork process is simple, and only a few key documents are needed.
  • System transparency: There are no hidden fees with the bank; the customer receives complete transparency.
  • Loan Term: The loan term ranges from three months to two years. As a result - you can decide based on your preferences.
  • Agricultural Benefit: Farmers can benefit from HDFC Bank's specific deals for agricultural use. To put it another way, the bank provides a slightly reduced interest rate on a gold loan for agricultural purposes.
  • No Debt Burden: There may be circumstances where a borrower is unable to repay the loan amount; in such a case, the borrower won't have any obligations because the bank will just seize the jewelry.
  • No income restrictions: Since there are no limits on the applicant's salary or income, anyone with any income base could apply for a gold loan.
  • Loan Amount: The minimum loan amount offered to customers by HDFC is Rs. 15,000. Additionally, in rural places, it may be less than Rs 10,000.
  • Protection of Jewelry: It's crucial to keep in mind that the bank bears full responsibility for the security of your gold. As a result, the gold is protected from fire.

How to Apply for the Gold Loan from HDFC Bank?

We live in a digital world thanks to the influence of the internet. Applying online for a gold loan from HDFC Bank would allow you to make use of this ability. You just need a stable net and a mobile device or PC to apply for this.

Anyone can complete the process because it is so straightforward. Therefore, the first step in applying for a loan is to visit HDFC Bank's official website and select Gold Loan from the list of goods.

You will see a "Apply Now" option if you navigate to the Gold Loan area. When you click on it, you will be taken to an application form where you must enter the information listed below.

  • Personal Details
  • Contact Information
  • Income Details

Your application will be completed as soon as you complete the form with all the necessary information and click the submit button. After receiving your application, HDFC Bank staff will get in touch with you to discuss it and help you in choosing the best program.

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