ICICI Bank Gold Loan

ICICI Bank Gold Loan offers various benefits, making it the ultimate solution for all your financial needs. Here are some attractive benefits of the ICICI gold loan:

• ICICI Bank offers an attractive gold loan interest rate on its gold loan starting from just 9.15% per annum. The interest rate can go up to a maximum of 18% per annum.
• The bank assures customers of the complete safety of their jewellery.
• You don’t have to worry about Equated Monthly Instalments (EMIs) and can easily repay your loan at the end of the tenure.
• You can now walk into any ICICI branch offering gold loans with your jewellery to avail of a gold loan from Rs. 50,000 to Rs. 2 Crore instantly.
• The loan can be repaid in a flexible tenure of 6 to 12 months, depending on the loan amount availed of.
• You can use the online gold loan calculator of ICICI Bank to know your eligibility for the loan before applying for the same.
• The bank offers a simple and easy documentation process so that the loan can be availed across the counter instantly.
• You get quick disbursal of the loan amount to fulfil your financial needs instantly.
• The bank also offers an instant top-up facility on your ongoing gold loan account.

ICICI Bank's gold loan interest rate is competitive. ICICI Bank Gold Loan comes with a minimum interest rate of 9.15% per annum, which can go up to a maximum of 18% per annum. The interest rate is based on the prevalent market situation. The gold loan interest rate varies according to the product variants.

ICICI Bank offers three types of gold loans as mentioned below:

• Gold Loan 
  • This loan is offered against the value of gold pledged by the borrower.
  • This loan can be availed to fulfil any financial needs.
  • The loan amount available is between Rs. 50,000 to Rs. 2 Crore.
  • Repayment tenure varies from 6 to 12 months, depending on the loan amount.
  • ICICI offers the best gold loan interest rate, ranging from 9.15% to 18% p.a.
  • A processing fee of 1% is charged on the loan amount.
• Gold Loan Top Up
  • This loan is offered on the ongoing gold loan.
  • This loan can be availed to fulfil any financial needs.
  • A top-up facility is offered in a completely online process.
  • The loan amount is credited to the specified bank account of the customer.
  • No additional security is required to avail of the gold loan top-up facility.
• Pre-approved Top-up Facility
  • This loan can be availed to fulfil any financial needs
  • The pre-approved top-up facility is offered to only a select few customers.
  • You can check your eligibility for this loan via Internet Banking, iMobile App, Customer Care or visiting the nearest branch.
  • No additional security is required to avail of the pre-approved gold loan top-up facility.

The eligibility criteria for ICICI Bank gold loan are mentioned below:

• Any individual within the age group of 18 to 70 years can avail ICICI gold loan.
• Apart from gold jewellery, ICICI gold loan is offered against the security of 24 carat gold coins.
• The coins must be issued by banks operating in India only.
• The gold coins must have 99.99% purity.
• The weight of the gold coin(s) should not exceed 50 grams per customer as per the RBI policy.

ICICI Bank is the best gold loan bank in India. You can avail an ICICI bank gold loan with only your KYC documents. You don’t even need to provide income proof. The documentation process is simple.

To apply for an ICICI gold loan, you will need the following set of documents:

• 2 passport-size photographs.
• Identity proof such as Driving License/ Aadhaar Card/ Passport Copy/ Voter ID Card/ Ration Card. Any one of these documents needs to be submitted.
• Address proof such as Driving License/ Aadhaar Card/ Passport Copy/ Voter ID Card/ Job Card Issued by NREGA. Any one of these documents needs to be submitted.
• Proof of land holding. This document is required only in case of agriculture loan of above Rs. 1 Lakh.
• Proof of supporting documents for Allied Agri Activity loan of more than Rs. 5 Lakhs.

The ICICI Gold Loan Calculator or Gold Loan Eligibility Calculator is available on the official website of the bank. The calculator can be used to calculate loan eligibility against your gold jewellery. The Jewel Loan calculator will assist you in estimating how much loan amount you will get instantly on your gold jewellery/coins.

To use the ICICI Bank Gold Loan Eligibility Calculator, you just need to enter the expected loan tenure (in months), the number of gold jewellery/ornaments you have, and the weight of the ornaments and gold carat details. The calculator will give you the estimated loan amount eligibility based on the details you have entered.

Below is the comparison of SBI gold loan with gold loans of other lenders in terms of the loan amount & gold rate of interest.

• Processing fee: 1% of the sanctioned loan amount.
• Foreclosure charges: 1% of the outstanding balance amount if the account is closed before the fixed repayment tenure.
• Penal interest: 6%.
• Top-up charges: 1% of the top-up amount, subject to a minimum of Rs. 250.
• Documentation charges: Rs. 199.
• Stamp duty & other statutory charges: As per the applicable laws of the State.
• Overdue handling charges:
  • Rs. 750 where a notice is delivered at the communication address & a paper publication is not required.
  • Rs. 1,700 where no notice is delivered at the communication address & the paper publication is to be done.
  • Rs. 300 for sending auction notice, over & above the preceding points.
  • Rs. 200 for sending loan recall notice over & above the preceding points.
• Renewal fees:
  • For loans up to Rs. 50,000: Rs. 300.
  • For loans above Rs. 50,000 to Rs. 1 Lakh: Rs. 350.
  • For loans above Rs. 1 Lakh to Rs. 2 Lakhs: Rs. 500.
  • For loans above Rs. 2 Lakhs: Rs. 1,000.
• Valuation charges: 
  • For loan up to Rs. 1 Lakh: Rs. 100.
  • For loan above Rs. 1 Lakh to Rs. 2 Lakhs: Rs. 200.
  • For loan above Rs. 2 Lakhs to Rs. 3 Lakhs: Rs. 300.
  • For loan above Rs. 3 Lakhs to Rs. 4 Lakhs: Rs. 400.
  • For loan above Rs. 4 Lakhs to Rs. 5 Lakhs: Rs. 500.
  • For loan above Rs. 5 Lakhs to Rs. 10 Lakhs: Rs. 750.
  • For loan above Rs. 10 Lakhs: Rs. 1,250.
• GST, TDS, stamp duty, levies, other government taxes, etc. as per prevailing rate will be charged over & above the charges mentioned above.
• Above fees are not applicable for agricultural loans of up to Rs. 25,000 per customer.

The steps to apply for an ICICI Gold Loan online from the official website of the bank are given below:

• Visit the official website of the bank at icicibank.com.
• Click on the ‘Gold Loan’ option mentioned under the ‘Loans’ tab.
• Click on the ‘Apply Now’ button.
• Enter your full name and contact number.
• Click on the Terms & Conditions checkbox.
• Click on the ‘Submit’ button.

You can also walk into any ICICI Bank branch offering gold loans with the jewellery/coins to be pledged to avail of a gold loan from Rs. 50,000 to Rs. 2 Crore instantly. Alternatively, you can also apply online through the mobile app of ICICI Bank.

To speak to the ICICI Gold Loan Customer Care team, you can give a missed call on 84448 84448. The team will call you back within a short period of time. You can then ask anything about the ICICI Bank gold loan, its features and the application process.