Among the leading providers of loans against gold, Axis bank remains to be one of the most popular. Gold loans, also known as loans against gold, are loans which can be taken against gold (ornaments or jewellery). Gold loans may be used for fulfilling financial needs like a child’s education, down payment for a car or property, medical emergency, business expansion, a vacation with your family, etc.
The Axis Bank Gold Loan is accompanied by a host of attractive features like high loan amounts, quick loan processing, zero fore-closure charges, multiple repayment options to choose from and a chance to earn edge loyalty points. Read on to find out more about the Axis Bank Gold Loan.
Axis Bank currently provides an interest rate between 14.50 % to 17.00 %. On their gold loans. Only simple interest will be calculated on the loan.
Any individual aged between 18 years to 75 years is eligible to apply for an Axis Bank Gold Loan.
In order to apply for this loan, applicant must submit the following documents:
|Loan processing Fee||1% of loan amount|
|Loan Fore-closure charges||No fore-closure charges|
|Valuation Charges||Rs 500|
|Part payment Charges||Nil|
|Penal Interest||2% per month on the loan amount overdue.|
The maximum and minimum amount which you may avail under the Axis Bank Loan against Rs.25,001 to Rs. 20 lakh respectively. However, the loan amount sanctioned / approved will be done based on factors like the applicant’s requirements, valuation of the gold and the applicant’s repayment capacity. Some of the factors we consider when
You may avail a loan against gold for a flexible duration ranging between 6 months to 36 months.
No, you do not need to have a co-applicant if you want to avail the Axis Bank gold loan.
Yes, you will be required to pay loan processing fee (non-refundable) and Valuation fee.
For the benefit of their customers, Axis Bank provides timely reminders to borrowers of their loan dues. However, if a customer delays making payment on their loan, the bank will levy late payment charge, which will be will be applicable based on the terms and conditions of the loan.
Yes, you may easily make part payments on your loan to lessen your loan burden. You are allowed to make a partial payment of a minimum of Rs. 10,000, for a maximum of 3 times, at any Axis Bank Loan against Gold Branch.