|Interest Rate||13.50% p.a.to 14.50% p.a.|
|Loan Amount||Rs.25,001 to Rs.25 lakh|
|Loan Tenure||Up to 3 years|
|Processing Fee||0.5% of the loan amount + GST|
Axis Bank currently provides an interest rate between 13.50% to 14.50% per annum. 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||Up to 2% for 0-6 months|
|Valuation Charges||0.25% or Rs.500 whichever is lower|
|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.25 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.
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.
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