When you are thinking about which is the lowest gold loan interest rate then Axis bank gold loan comes to mind right away. Axis bank gold loan interest rate starts from 14.5% and can go on to 19% depending on the purity and amount of gold that you want to pledge. For any loan amount, the Axis bank gold loan interest rate is fixed at upto 8.95% above the 1-year Marginal Cost Of Funds Based Lending Rate (MCLR) of the bank, which is 8.05% right now.
Below are the details about Axis Bank Gold Loan interest rate and other related charges respectively.
Loan Aspects | Details |
Minimum Loan Amount | Rs 25,000 |
Maximum Loan Amount | Rs 20 lakh |
Interest Rate | 14.5% - 19% |
Minimum Tenure | 6 months |
Maximum Tenure | 36 months |
Processing Fee | 0.50% of the total loan amount + Applicable GST charges |
Penal Interest Charges | 2% per month on the outstanding amount |
Valuation Charges | Rs 500 |
Part prepayment Charges | Nil |
Below is the gold loan interest rate comparison between Axis bank and other banks:
Bank | Rate of Interest (p.a.) | Processing Fee |
Axis Bank | 14.5% - 19% | Up to 0.50% of loan amount |
SBI Gold Loan | 8% | Nil till 31.01.2023 |
Federal Bank Gold Loan | 8.49% onwards | Up to 0.80% of loan amount |
Bank of India Gold Loan | 7.25% - 8.90% | Up to Rs. 125 per lakh; Maximum Rs. 1,000 |
Bajaj Finserv Gold Loan | 10% - 28% | Rs. 75 (inclusive of applicable taxes) |
Bank of Baroda Gold Loan | 9.20% - 9.30% | Up to 0.50% of loan amount + GST |
Canara Bank Gold Loan | 13% onwards | 1% of loan amount |
HDFC Bank Gold Loan | 7.60% - 16.81% | 1% of loan amount |
Indian Bank Gold Loan | 8.25% onwards | 0.50% of loan amount |
ICICI Bank Gold Loan | 10% - 17.95% | 1% of loan amount |
Kotak Mahindra Bank Gold Loan | 8% - 17% | Up to 2% of loan amount + GST |
Below are some of the features of Axis Bank Gold Loan
Axis bank offers just one gold loan scheme under which you can avail gold loan interest rates starting from 14.5% for a tenure ranging from 6 to 36 months.
The Axis Bank gold loan rate per gram is between Rs. 4,900 to Rs. 5200. The rate per gram depends on various factors, such as gold rate today, rate of interest, tenure of repayment, gold’s purity and value, gold loan scheme, and so on.
The Axis Bank Gold loan calculator is a tool designed to make your application process even more convenient. Use it to calculate the worth of your gold and the loan amount you could receive against it on the basis of its forms (gold coins, jewellery) and caratage.
Use Axis bank Gold loan calculator to gauge the amount you are eligible for against the specific gold jewellery you have.Simply key in the form of gold with you, (specific ornaments, gold coins) its caratage.
The Gold loan calculator will display the amount you are eligible for. You can click on the 'Locate Branch' button to avail an Axis Bank Gold Loan.
If you have more than one form of gold, just click the ‘Add more’ button on the Gold Loan calculator, and fill in the details for each. The gold loan calculator will also display the amount eligible against each article.
The respective Axis bank gold loan fee and charges are very nominal and as per industry standards.
Gold Loan Components | Fee/ Charges |
Processing Fee | 0.50% of the total loan amount + Applicable GST charges |
Penal Interest Charges | 2% per month on the outstanding amount |
Valuation Charges | Rs 500 |
Part prepayment Charges | Nil |
Know how good your score is
Get insights on how to improve it
Unlock offers as per your score
When the repayment is not done on Axis bank gold loan and If you miss making a timely payment, late payment charges will be applicable according to the terms of your Loan Against Gold agreement.
Axis Bank offers you two options for repayment of your Loan Against Golds. Select the most convenient one for you from the choices below:
Yes, you can use a gold loan to boost your CIBIL score.
After all the formalities are done, you can get the money in 1 day.
Axis Bank Gold Loan starts from 14.5% and can go on to 19%.
Yes, you can get a gold loan from any Axis Bank branch.
The rate of gold loan per gram in Axis Bank is around Rs. 4,900 to Rs. 5200.
No, PAN card is not mandatory for a gold loan.
If you die, your family members will be responsible if you fail to repay the gold loan. However, if you are insured, the remaining loan amount will pay on your behalf by the insurance provider. Every loan nowadays comes with insurance.
You can opt for a shorter tenure on your gold loan to reduce gold loan interest.
You can reach out to the customer service department by calling the phone banking numbers 1860 419 5555 and 1860 500 5555. When speaking to a customer service executive, you may raise a query for your Axis bank gold loan status of application.
To get an Axis Bank gold loan you need following documents