Indian Bank Gold Loan Interest Rates

Here is the Indian Bank gold loan rate per gram today -

Following are the types of Gold Loan Schemes from the Indian Bank-

Domestic requirements, consumption, family obligations, medical costs, and any other bankable activity other than speculation are all eligible uses for this loan.

All individual farmers may use this loan to cover their short-term financial needs for things like crop cultivation, farm asset repairs, related activities like dairy, poultry, and fishing, the purchase of inputs like fertilizer, pesticides, and seeds, the repayment of debt incurred from non-financial lenders, etc.

A fixed overdraft limit, or OD limit, is used as a new product or overdraft facility for consumers in place of the Term Loan facility. In addition to the general public and ladies, COVID warriors may also apply for this loan in order to show them the respect and appreciation they deserve for their services during this pandemic scenario. Any purpose is permitted for the loan.

• The age requirement is at least 18.
• Anyone who has gold jewelry, coins, or ornaments that the bank needs to mortgage.
• A person needs a steady income (optional).
• Individuals who have a current or savings account with the bank (optional).

• Completed and signed a gold loan application.
• Two photos the size of a passport.
• Identity documents include a passport, voter ID card, driver's license, PAN card, Aadhar card, and an ID card from a government agency.
• The most recent utility bill, the most recent phone or mobile bill, the most recent credit card statement, and the current house lease agreement are all acceptable forms of identification.
• The most recent pay stub that includes all deductions, Form 16, or the income tax returns for the past two fiscal years serves as proof of income (optional).

To finish the online Indian Bank gold loan application process, follow the steps listed below-

Step 1: Open the Jewel Loan page on the bank's official website. Clicking on https://indianbank.in/departments/jewel-loan/# will take you right to the page.

Step 2: At the bottom of the page, there is a link that says "Apply for Loan." Click on it.

Select "Submit a request" from the menu.

Step 3: In the "whether you are an existing client" area, select "Yes" or "No."

Step 4: If you are already a client of the bank, enter the number associated with your savings account.

Step 5: Enter your mobile number if you are a new customer.

Step 6: Select "Generate OTP" from the menu.

Step 7: For the application to be completed, enter the OTP that was sent to your cell number.

Step 8: The bank's officials will contact you shortly.

Step 9: You can call 1800 4250 0000 for online support if you run into any problems with the online application procedure.

For an Indian Bank gold loan, the applicant is responsible for the following fees-

• Processing charges are 0.50% of the loan amount.
• Interest rates range from 8.25% to 9.40% p.a., depending on the type of scheme.
• Fee for the appraiser: The lender informed the borrower of this fee at the time of the loan application.

• Loan with numerous uses: Indian Bank Jewel Loan can be utilized for a variety of household necessities, consumption, family events, medical costs, and any other bankable activity aside from speculative ones.
• Competitive interest rate: The gold loan's interest rate is 8.25% for payments made in one lump sum and 8.75% for payments made over time.
• Simple eligibility: Senior folks and all other Indian nationals over the age of 21 may apply for this loan.
• There is no upper restriction on the loan amount, which is up to Rs. 10 lakhs for each borrower using the bullet repayment plan. The maximum loan amount for the monthly repayment plan has no upper limit.
• Low processing costs: There will be a processing fee of 0.50% of the loan amount. The maximum processing charge amount is unrestricted.
• Flexible payback period: The loan can be returned over a period of up to 12 months under the bullet repayment plan or 35 months under the monthly repayment plan.
• Only your identity and address evidence, and a properly completed and signed application form are needed as supporting documentation.