Axis Bank Gold Loan – Interest Rate, Eligibility & Features
Interest Rate & Loan Details
- Interest Rate: Starts at 7% p.a. (subject to change as per Axis Bank policy)
- Loan Amount:
- Minimum: ₹25,000
- Maximum: ₹50 lakh
- Loan Tenure: Up to 36 months (with flexible repayment options)
- Processing Fee: 0.25% – 1% of the loan amount or as per bank guidelines
- Pre-closure Charges: Nil or as per Axis Bank norms
- Loan-to-Value (LTV) Ratio: Up to 75% of the gold’s market value
Purpose of Gold Loan
Axis Bank provides gold loans to meet urgent financial requirements, including:
- Personal expenses
- Education fees
- Medical emergencies
- Business expansion
- Agricultural investments
Eligibility Criteria
To be eligible for an Axis Bank Gold Loan, you must meet the following conditions:
- Age: Minimum 18 years
- Ownership: You must own gold jewelry or coins that can be pledged as collateral (coins with embedded gemstones are not accepted).
- KYC Compliance: Applicants must submit valid KYC documents for verification.
- Landholding Proof (for Agricultural Loans): Applicants seeking agricultural loans above ₹2 lakh must provide landholding details.
Documents Required
Applicants must provide the following documents when applying for an Axis Bank Gold Loan:
- Application Form: Duly filled and signed
- Photographs: Two recent passport-size photos
- Identity Proof (Any one):
- Aadhaar Card
- PAN Card
- Passport
- Voter ID
- Driving License
- Government-issued employee ID
- Address Proof (Any one):
- Aadhaar Card
- Utility Bills (Electricity, Water, Telephone)
- Ration Card
- Lease Agreement
- Credit Card Statement
- Landholding Documents: For agricultural loans exceeding ₹2 lakh
Loan Amount & Security
- Minimum Loan Amount: ₹25,000
- Maximum Loan Amount: ₹50 lakh
- Loan Security: Gold ornaments or coins pledged as collateral (excluding gemstones)
Repayment Options
Axis Bank offers flexible repayment options for gold loans:
- EMI-Based Repayment: Fixed monthly installments over the loan tenure
- Bullet Payment: Interest is paid at intervals, and the principal is repaid at the end of the loan tenure
Charges & Fees
- Processing Fee: 0.25% to 1% of the loan amount
- Gold Valuation Fee: Applicable, paid to authorized third-party valuers
- Prepayment Penalty: As per Axis Bank norms
- Late Payment Penalty: Applicable if EMI or interest payments are delayed
Key Considerations Before Applying
- Gold Quality: Only gold with a purity level between 18 and 22 carats will be accepted.
- Loan Terms: Review the loan agreement carefully before signing to understand all terms and conditions.
- Gold Security: If the loan is not repaid, your pledged gold may be forfeited by the bank.
Benefits of Axis Bank Gold Loan
- Quick Loan Approval: Fast disbursal, often within a few hours
- Attractive Interest Rates: Starting from as low as 7% p.a.
- High Loan Value: Loan up to 75% of the pledged gold’s market value
- Flexible Repayment: Choose between EMI and bullet repayment options
- No Guarantor Required: The pledged gold itself serves as collateral
Contact Axis Bank
- Head Office Address:
Axis Bank Ltd.,
‘Axis House’, C-2, Wadia International Centre,
Pandurang Budhkar Marg, Worli,
Mumbai – 400025 - Customer Care Number: 1860 419 5555 / 1860 500 5555
- Email: customercare@axisbank.com
- Official Website: www.axisbank.com
Disclaimer: The information provided above is subject to change based on Axis Bank’s policies. Please visit the official Axis Bank website or contact your nearest branch for the latest details.
