The features and benefits of the gold loan are mentioned below:
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A loan is approved only after the borrower fulfils the eligibility criteria. An eligibility criterion is based on certain factors. Gold Loan eligibility for HDFC Bank is mentioned below:
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The following documents are required for applying for a gold loan with HDFC Bank:
Note: Gold Loan cannot be availed for purchasing gold coins, jewellery, land and other speculative things. It could be used for agricultural, business and personal purposes.
Different kinds of fees are charged by HDFC Bank that is mentioned below:
|Processing Fee||Up to 1% of loan amount|
|Gold Loan Foreclosure Charges||1% of the loan amount if it is closed within 6 months|
|Pre-payment Charges||Up to 1%|
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HDFC Bank offers different types of loan products including:
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You can get HDFC gold loan application approved in 45 minutes with minimal documentation and transparent charges, subject to completion and accuracy of the documents and loan application submitted by you.
Typically, in case of long-term gold loan repaid in EMIs, the repayment tenure 3 to 24 months. In case of short-term loans repaid in a lump sum, the repayment tenure is up to 6 months.
The current HDFC Gold Loan interest rates range from 7.75% to 15.95% per annum.