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Axis Bank Gold Loan Interest Rate

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.

Updated:

Current Axis Bank Gold Loan Interest Rate

Below are the details about Axis Bank Gold Loan interest rate and other related charges respectively.

Loan AspectsDetails
Minimum Loan AmountRs 25,000
Maximum Loan AmountRs 20 lakh
Interest Rate14.5% - 19%
Minimum Tenure6 months
Maximum Tenure36 months
Processing Fee0.50% of the total loan amount + Applicable GST charges
Penal Interest Charges2% per month on the outstanding amount
Valuation ChargesRs 500
Part prepayment ChargesNil

Compare Axis Bank Gold Loan Interest from Other Lenders

Below is the gold loan interest rate comparison between Axis bank and other banks:

BankRate of Interest (p.a.)Processing Fee
Axis Bank14.5% - 19%Up to 0.50% of loan amount 
SBI Gold Loan8%Nil till 31.01.2023
Federal Bank Gold Loan8.49% onwardsUp to 0.80% of loan amount
Bank of India Gold Loan7.25% - 8.90%Up to Rs. 125 per lakh; Maximum Rs. 1,000
Bajaj Finserv Gold Loan10% - 28%Rs. 75 (inclusive of applicable taxes)
Bank of Baroda Gold Loan9.20% - 9.30%Up to 0.50% of loan amount + GST
Canara Bank Gold Loan13% onwards1% of loan amount
HDFC Bank Gold Loan7.60% - 16.81%1% of loan amount 
Indian Bank Gold Loan8.25% onwards0.50% of loan amount 
ICICI Bank Gold Loan10% - 17.95%1% of loan amount 
Kotak Mahindra Bank Gold Loan8% - 17%Up to 2% of loan amount + GST

Features of Axis Bank Gold Loan

Below are some of the features of Axis Bank Gold Loan

  • Avail gold loan Rs 25001 ro Rs 2500000
  • Avail same day Axis Bank gold loan disbursement.
  • Choose your gold loan tenure from 6 months to 36 months
  • Use gold ornaments or gold coins to avail gold loan without any hassles.
  • Your gold is kept securely at the bank.
  • The gold loan process involves easy documentation and a smooth process.
  • Earn 150 Axis eDGE points on disbursement of your gold loan.

Types of Gold Loan in Axis Bank

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.

Gold Loan Per Gram Rate in Axis Bank

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.

Axis Bank Gold Loan Calculator

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.

How does Axis Bank Gold Loan Calculator work?

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.

Axis Bank Gold Loan Fee and Charges

The respective Axis bank gold loan fee and charges are very nominal and as per industry standards. 

Gold Loan ComponentsFee/ Charges
Processing Fee0.50% of the total loan amount + Applicable GST charges
Penal Interest Charges2% per month on the outstanding amount
Valuation ChargesRs 500
Part prepayment ChargesNil

How to Apply for Gold Loan in Axis Bank?

  • Visit MyMoneyMantra and then click on the Gold Loan tab mentioned under the Loans dropdown menu.
  • Now fill in the online application form by keying in all the required details like your name, phone number, email id, required loan amount, address, etc.
  • Then click on the checkboxes.
  • Click on the ‘Let’s Go’ button to complete your application. 
  • The best gold loan offers will then be displayed on your screen as per your eligibility.
  • Choose the one that suits our requirements. 
  • Our gold loan experts will get in touch with you soon.

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Axis Bank Gold Loan Interest Rate FAQs

What happens if a gold loan is not paid in Axis Bank?

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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.

How do I repay my gold loan?

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Axis Bank offers you two options for repayment of your Loan Against Golds. Select the most convenient one for you from the choices below:

  • Interest payment upfront and repayment of principal on maturity date
  • Monthly interest payment and repayment of principal on maturity date
  • Equated Monthly Instalment option

Does gold loan affect cibil?

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Yes, you can use a gold loan to boost your CIBIL score. 

How long does it take to get a gold loan from Axis Bank?

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After all the formalities are done, you can get the money in 1 day.

What is the Axis Bank gold loan rate?

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Axis Bank Gold Loan starts from 14.5% and can go on to 19%.

Can I get an Axis Bank gold loan from any branch?

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Yes, you can get a gold loan from any Axis Bank branch.

What is the rate of gold loan per gram in Axis Bank?

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The rate of gold loan per gram in Axis Bank is around Rs. 4,900 to Rs. 5200.

Is PAN card mandatory for gold loan?

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No, PAN card is not mandatory for a gold loan.

What happens to gold loans after death?

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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.

How can I reduce my gold loan interest?

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You can opt for a shorter tenure on your gold loan to reduce gold loan interest.

How can I check my Axis Bank gold loan status?

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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.

What are the documents required for gold loan?

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To get an Axis Bank gold loan you need following documents

  • Passport Sized Photographs
  • Duly Signed Application Form
  • Signature Proof
  • KYC Documents – Photo ID & Address Proof ( Aadhar Card/ PAN Card/ Passport/ Driving Licence/ Voter’s ID Card)