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  • Andhra Bank Gold Schemes

    Andhra Bank offers loans against gold for non-agricultural purposes. The scheme helps individuals secure much-needed finance to meet their personal and business commitments.

    Loans against Gold Ornaments for Non Agricultural Purpose

    Financial needs can arise at any time, and we might need extra funds to meet those needs. Andhra Bank offers loans to its customers for the purpose of consumption, business and personal use. The loans cannot be used for speculative purposes.

    Features and Benefits

    • Loans are sanctioned for a variety of purposes to help customers meet their financial needs.
    • The minimum loan amount offered is Rs.10,000 and is limited to a maximum of Rs.20 lakhs.
    • The interest rate is currently 11.40% p.a. The interest rate is 1.40% above the base rate.
    • There are no processing charges, but an appraising charge of 1% of the loan amount sanctioned will be applicable.
    • Customers can get a concession of 50% on applicable charges for loan quantum above Rs.2 lakhs.
    • The quantum of finance offered by the bank is set at Rs.1,600 per gram or 75% of the market value of gold, whichever is lesser. The market value is determined on the basis of 22 karat pure gold.
    • Andhra Bank will accept up to 50 grams of gold coins that have been issued by banks.
    • Customers can prepay the loan at no extra charge.
    • There are three schemes to repay the loan:
      • EMI Scheme
      • Bullet Repayment Scheme
      • Overdraft Scheme

    Fees and Charges

    Particulars Charges
    Interest 11.40% p.a.
    Processing Fees Nil
    Appraising Charge 1% of the loan amount
    Prepayment Charge Nil


    • The Andhra Bank loan is available to existing customers of Andhra Bank.
    • The loan can also be availed of by individuals who are identified properly as an accepted customer as per the KYC-AML guidelines.
    • Existing customers need to adhere to KYC norms as well.

    The Andhra Bank Loan Against Gold entails minimum hassle if the application process is done correctly. Ensure you check with the bank about any updated details and new interest rates.

    Also Know About the other Gold Schemes by Banks

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