HDFC BANK
Gold Loan

Following are the key details you should know about HDFC Bank gold loan:

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:

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.

Following are the key features offered on HDFC Bank gold loan:

• Type of facility: This loan can be availed of as a Term Loan, Overdraft or Bullet Repayment scheme.
• Purpose: The HDFC gold loan can be availed of for all financial needs, including personal requirements, education, business expansion, medical crisis or any other specified end-use.
• Loan amount: You can get a loan amount starting at Rs. 25,000 (Rs. 10,000 in rural markets) against gold.
• Tenure: HDFC loan against gold can be repaid in tenures starting from 6 months up to 24 months.
• Rate of interest: The HDFC gold loan interest rate varies between 8% and 16% per annum.
• Processing fee: The processing fee is up to 1% of the disbursal amount (including applicable taxes).
• Fastest turnaround: The bank guarantees simple documentation and speedy disbursals.

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:

• Loan processing fee: Up to 1% of the disbursal amount (inclusive of applicable tax).
• Prepayment charges (full or part): 1% on principal outstanding + applicable tax.
• Valuation charge: Rs. 250 + applicable tax up to Rs. 1.5 Lakhs per packet per loan and Rs. 575 + applicable tax for above Rs. 1.5 Lakhs per packet per loan.
• Renewal charges: Rs. 350 + applicable tax.
• Payment return charges: Rs. 200 + applicable tax.
• Overdue interest after maturity: 2% incremental interest over the contractual interest rate.
• Delayed instalment payment charges: 18% p.a. + applicable government taxes on overdue instalment amount.
• TOD charges against Overdraft account: 18% p.a.
• CIBIL charges: Rs. 50 per CIBIL report.
• Stamp duty & other statutory charges: As per the laws of the state.
• Legal & incidental charges: As per actual.
• Auction charges: As per actual.

*Note: 

• GST & other applicable government taxes, levies, etc. as per the prevailing rate will be charged over & above the above-mentioned fees and charges.
• Foreclosure and prepayment charges will not be levied on all fixed-rate loans up to Rs. 50 Lakhs, availed by Micro & Small Enterprises, provided the same has been closed/part paid from own source of funds.
• NIL processing fees for loans up to Rs. 5 Lakhs availed by Micro & Small Enterprises, if they submit Udyam Registration Certificate before the disbursal.

Following documents required to gold loan with HDFC Bank: 

• Any one of the following documents:
  • Valid and active Passport
  • Valid and active Driving License 
  • Voter’s ID Card
  • Aadhaar Card issued by UIDAI

• PAN Card (along with any of the above-mentioned documents) or Form 60
• 1 recent passport-size photograph
• Agri Allied Occupation Documentation (for bullet repayment for agriculture customers).
• Also note that, Credit score is not required to get a gold loan.