Following are the key details you should know about HDFC Bank gold loan:
|Loan amount||Rs. 10,000 - Rs. 1,00,00,000|
|Rate of interest||8% - 16.50% p.a.|
|Tenure||6 - 24 months|
|Processing fee||Up to 1% of the disbursed amount|
|Facility types||Term Loan, OD and Bullet repayment|
|Prepayment charges||1% on principal outstanding + applicable tax|
HDFC gold loan comes at competitive interest rates on Term Loan, Overdraft Loan and EMI-based Loan. You can repay your loan in easy low equated monthly instalments (EMIs), over a tenure of your choice ranging between 6 to 24 months.
Below are the details of the current HDFC Bank gold loan interest rate:
|Product Name||Minimum Rate of Interest||Maximum Rate of Interest|
|HDFC Gold Loan||8% p.a.||16.50% p.a.|
Also Check: Lowest Gold Loan Interest Rate
Below is the comparison of the HDFC Bank gold loan with the gold loan schemes of other banks. You can compare the rates and other features below to check which is the best gold loan bank.
|Bank||Rate of Interest (p.a.)||Loan Amount||Processing Fee||Tenure|
|HDFC Gold Loan||8% - 16%||Rs. 10,000 - Rs. 1 Crore||Up to 1%||6 - 24 months|
|Rupeek Gold Loan||8.88% - 24%||Rs. 20,000 - As paper requirement/eligibility||0% - 1%||180 - 365 days|
|Oro Money Gold Loan||9.48% - 16.68%||As paper requirement/eligibility||NIL||Up to 6 months|
|IndiaGold Gold Loan||9% onwards||Up to Rs. 20 Lakhs||NIL||61 days - 12 months|
|IIFL Finance Gold Loan||11.88% - 27%||Up to 75% of the gold’s market value||Rs. 0 onwards, depending on scheme||Up to 24 months|
|Muthoot Gold Loan||9% - 26%||Rs. 1,500 - Rs. 5 Crores||Up to 1%||1 - 12 months|
|Manappuram Gold Loan||10.90% onwards||Rs. 1,000 - Rs. 1.5 Crore||Rs. 10||1 - 365 days|
|SBI Gold Loan||8.65% - 9.75%||Rs. 20,000 - Rs. 50 Lakhs||0.50% (minimum Rs. 500 & maximum Rs. 10,000) + applicable GST||3 - 36 months|
|Union Bank Gold Loan||9.75% - 9.90%||Up to 50 Lakhs||0.50% (maximum Rs. 1,000)||Up to 12 months|
|Kotak Mahindra Bank Gold Loan||8% - 17%||Rs. 20,000 - Rs. 1.5 Crore||Up to 2% + GST||12 - 24 months|
Following are the key features offered on HDFC Bank gold loan:
Repayment: Repay only the interest on the HDFC gold loan every month or repay the interest and principal after 1 year in the bullet repayment method.
Apart from the applicable rate of interest, the following are the fees and charges associated with the HDFC Bank gold loan:
Following documents required to gold loan with HDFC Bank:
Rupeek Gold Loans are instant secured loans with no EMI option at interest rate starting at 9.69% p.a. You can avail of emergency loan ranging from Rs 15000 to Rs 1.5 crore against gold jewellery, coins & ornaments. With bullet repayment option you repay entire loan at the end of the tenure.
You can apply for an HDFC gold loan through any of the following methods depending on your convenience:
Online: The HDFC gold loan can be availed of online through the bank’s website or its ChatBot called EVA:
Offline: Another convenient to get a gold loan from HDFC is by visiting the nearest HDFC Bank branch with your gold jewellery. The gold will be valued by the bank representatives and then the loan process will begin. You can avail of the loan within 45 minutes with minimal documentation.
The current HDFC gold loan rate today is 8% to 16.50% p.a.
Yes, a PAN card is mandatory to apply for a gold loan in HDFC Bank.
There is no minimum credit score requirement for a gold loan. This is a secured loan, so the security of your collateral (gold) and its purity are more important in obtaining speedy approval. A gold loan is helpful for people who need instant funds but have poor credit scores.
To be eligible for an HDFC gold loan, you should be age between 18 to 65 years.
The HDFC Bank gold loan can be repaid within 6 to 24 months of tenure.