You can get a minimum loan amount of Rs. 1,000 and maximum up to Rs. 1.5 Crores as gold loan from Federal Bank. Federal Bank gold loan interest rates are competitive and start from as low as 8.49% p.a. You can choose from a fixed or floating rate of interest for a Federal Bank gold loan according to your requirement.
Federal Bank gold loan interest rate today starts from 8.49% p.a. Onwards. You can choose from fixed and floating interest rate-based gold loans. Here are the details of the current Federal Bank gold loan interest rate:
Below is the comparison of the Federal Bank gold loan interest rate with the gold loan interest rates of other lenders. You can check the interest rates of top lenders to see which is the best gold loan bank available in India before you apply for the loan.
|Bank||Rate of Interest (p.a.)||Processing Fee|
|Federal Bank Gold Loan||8.49% onwards||Up to 0.80%|
|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% + GST|
|Canara Bank Gold Loan||13% onwards||1%|
|HDFC Bank Gold Loan||7.60% - 16.81%||1%|
|SBI Gold Loan||8%||Nil till 31.01.2023|
|Indian Bank Gold Loan||8.25% onwards||0.50%|
|ICICI Bank Gold Loan||10% - 17.95%||1%|
|Kotak Mahindra Bank Gold Loan||8% - 17%||Up to 2% + GST|
|Axis Bank Gold Loan||17% - 19%||Up to 0.50%|
Following are the main features of Federal Bank gold loan:
Below are the benefits of gold loans offered at Federal Bank:
Apart from the General Gold Loan scheme as mentioned above, Federal Bank also offers the following types of gold loans:
The Federal Bank gold loan calculator is an online tool provided by several platforms. For availing of a gold loan, you are required to pledge your gold ornaments as surety. However, before pledging your valuable gold, you should know beforehand how much money you might have to pay and then decide on options. This is where a gold loan EMI calculator can help you. The gold prices are constantly changing, making it difficult to do an accurate calculation. The gold loan calculator will provide you with the most precise answer.
*Note: GST as applicable will be charged additionally on all the above charges
To meet the gold loan eligibility criteria for a gold loan in Federal Bank, applicants should be aged above 18 years and have gold that is to be pledged with the bank. Apart from this, the applicant must furnish the following documents:
You can visit any of the branches of Federal Bank to avail of its gold loan. Federal Bank offers doorstep delivery of gold loans in association with Rupeek Fintech Pvt Ltd, wherein your gold ornaments are valued at home and then safely taken to the bank. The gold loan service is available in the following select cities only:
Rupeek Gold Loans are instant secured loans with no EMI option at interest rate starting at 8.88% p.a. You can avail of emergency loan ranging from Rs 50000 to Rs 20 Lakhs against gold jewellery, coins & ornaments. With bullet repayment option you repay entire loan at the end of the tenure.
The maximum amount per gram in Federal Bank is up to 85% of the gold price.
Yes, you can make a part prepayment. However, the gold ornaments that you have pledged with the bank will be released after the entire outstanding amount is repaid.
Yes, you can foreclose your Federal Bank gold loan.
You can dial the pan India toll-free number of Federal Bank, i.e. 1800 - 425 - 1199 or 1800 - 420 - 1199, to speak to the customer care team of Federal Bank for any gold loan-related queries. Customers from abroad can call 080 - 6199 - 1199. Customer care executives will be available 24 x 7 to help you.
You can avail of a minimum gold loan amount of Rs. 1,000 and a maximum of Rs. 150 Lakhs from Federal Bank.
No. You can make a partial payment of your gold loan at Federal Bank. However, the gold ornaments pledged with the bank will be released only after the payment of the entire outstanding amount.
To avail of Federal Bank gold loan, you will be required to pledge 22-carat gold ornaments.
The maximum loan amount limit on a Federal Bank gold loan is Rs. 150 Lakhs.