HDFC Bank Gold Loan

Below are the key details of the HDFC gold loan:

HDFC Bank gold loan comes at competitive interest rates on Term Loan, Overdraft Loan, and Bullet Repayment method. The current HDFC Bank gold loan interest rates vary between 9.30% to 17.86% per annum. Apart from the interest rate, the borrower also has to pay the following charges on the gold loan:

• Processing fee: Up to 1% of the disbursed amount, plus applicable taxes. ₹700 + applicable taxes for loans above ₹1.60 Lakhs up to ₹10 Lakhs per packet per loan and ₹900 + applicable taxes for loans above ₹10 Lakhs per packet per loan.
• Asset verification & valuation charge: ₹350 + applicable taxes for loan amount up to ₹2 Lakhs per packet per loan, ₹750 + applicable taxes for loan amount above ₹2 Lakhs up to ₹10 Lakhs per packet per loan, and ₹1,500 + applicable taxes for loan amount above ₹10 Lakhs per packet per loan
• Premature closure charges (full or in part): 2% + applicable tax if the loan is pre-closed within 30 days, 1% + applicable tax if the loan is pre-closed in 30 to 180 days, & Nil if the loan is pre-closed after 180 days.
• Renewal charges: ₹500 + applicable tax for loan amount up to ₹5 Lakhs & ₹750 + applicable tax for loan amount above ₹5 Lakhs.
• Delayed instalment payment charge: 18% p.a. + applicable government taxes on overdue instalment amount.
• Payment return charges: ₹450 + applicable tax.
• TOD charges against overdraft account: 18% p.a.
• Stamp Duty & other statutory charges: As applicable in the laws of the state.
• CIBIL charges: ₹50 per credit report.
• Legal & incidental charges: As per actual.
• Auction charges: ₹1,500.
• Newspaper advertisement charges: As per the incident.
• Overdue notice charges: ₹200 per loan recall/ auction notice ​​​​sent to the customer.

Below are some of the most attractive advantages offered on the HDFC Bank gold loan:

• The HDFC Bank gold loan can be availed of as a Term Loan, Overdraft, or Bullet Repayment scheme.
• The HDFC gold loan can be availed of for all financial needs, including personal requirements, business expansion, education, medical crisis or any other specified end-use.
• The bank offers a loan amount starting at ₹25,000 (₹1 Lakh in rural markets) up to ₹1 Crore against gold.
• HDFC loan against gold can be repaid in flexible tenures starting from 6 months to 42 months.
• The HDFC gold loan rates are highly affordable, starting from just 9.30% p.a.
• The bank guarantees simple documentation and speedy disbursals in just 45 minutes.
• You can choose to repay either only the interest on the HDFC gold loan every month, or repay the interest and principal after 1 year in the bullet repayment method.

Below is the comparison of HDFC Bank gold loan interest rates with other top banks in India:

HDFC Bank Gold Loan eligibility criteria require you to be:

• An Indian resident.
• Aged between 18 and 75 years.
• A businessman, trader, farmer, salaried, or self-employed individual.
• An owner of 18-22K gold jewellery or coins.

If you want to get an HDFC gold loan, you will have to submit the following documents:

• Identity proof: Valid Passport/ Valid Driving Licence/ Voter’s ID Card/ Aadhaar Card issued by UIDAI/ PAN Card/ Form 60 (any one)
• Address proof: Valid Passport/ Valid Driving Licence/ Voter’s ID Card/ Aadhaar Card issued by UIDAI
• Income proof: Agriculture Allied Occupation Documentation (for bullet repayment)
• 1 passport-size photograph

The HDFC Bank gold loan can be repaid in accordance with the repayment conditions mentioned in your Sanction Letter, through any of the following ways: 

• By way of bullet repayment: 
  • Interest payable upfront and at the time of each review (as defined hereinafter) under the Front-Ended Interest Bullet Loan
  • Interest payable monthly under the Monthly Interest Bullet Loan 
  • With interest payable rear-ended under the Rear-Ended Interest Bullet Loan 
• By way of Equated Monthly Instalments (EMIs)

The payment has to be made by way of: 

• PDCs
• Inchoate cheques
• National Automated Clearing House (NACH) mandate(s) 
• Standing Instructions (SI)/ Electronic Clearing System (ECS) instructions
• Other mode/instrument, as acceptable to the HDFC Bank from time to time

You can apply for an HDFC gold loan through any of the following ways:

• Online: The HDFC gold loan can be availed of online through the bank’s website: 
  • Visit HDFC Bank’s website and click “Discover products”. 
  • From the dropdown list, select “Loans” and then choose “Gold Loan” from the dropdown menu. 
  • Click on the “Apply Now” button.
  • Fill in the required personal and income details.
  • Click on the “Submit” button. 
  • HDFC Bank’s gold loan executives will get in touch with you for the loan application.
• Offline: Another convenient way to get a gold loan from HDFC Bank is by visiting their nearest branch with your gold jewellery. The bank representatives will evaluate the gold, and then the loan process will begin. You can avail of the loan within 45 minutes with minimal documentation.

• HDFC Bank Helpline Numbers:​ 18001600 / 18002600 ​​​​​​​(Accessible across India)​​​​​
• Customers travelling abroad can call on: +912261606160

Loan services are available between 8:00 a.m. and 8:00 p.m. all day, including Sundays and Bank Holidays.