Federal Gold Loan

Federal Bank offers various personal finance products to its customers, one of which you can avail is a gold loan. You can avail a gold loan from Federal Bank by pledging gold as collateral. You can avail a gold loan of up to Rs.1.5 crore with interest rates starting at 9.50%. You can avail the gold loan to meet your various financial needs.

Features and benefits of availing a gold loan from Federal Bank

• Low rate of interest
• Instant sanctioning of gold loan
• Hassle free process
• Minimal paperwork required and quick disbursal of loan amount
• Higher per gram rates
• The repayment tenure is flexible
• No hidden charges
• You can only avail a gold loan if you pledge at least 22 carat Gold as security

Purposes for which you can avail a gold loan from Federal Bank

Given below are the purposes for which you can avail a gold loan from Federal Bank:

• You can avail a gold loan from Federal Bank to meet various financial needs of yours
• You can avail a gold loan not only to meet your personal needs but also for business and agricultural purposes

Documents required

Given below is the list of documents you will have to submit in order to avail a gold loan from Federal Bank:

• If you are an existing customer, then you won’t be required to produce any document whatsoever.
• If you are a new customer, then the following document will have to be submitted by you:
• Identity proof such as Aadhaar, Passport, etc.
• Recent passport size photograph
• Proof of address such as Aadhaar, Passport, utility bills, etc.

Repayment option

There are two repayment options through which you can repay the loan:

• EMI
• Lumpsum amount

Loan amount

• Minimum loan amount: Rs.1,000
• Maximum loan amount: Rs.1.5 crore

How to apply for a gold loan from Federal Bank

Offline

You can visit the nearest branch of Federal Bank along with the necessary documents if you wish to apply for a gold loan. If you are an existing customer, then you won’t be required to submit any documents as the bank will have all the necessary documents in order to help you avail a gold loan. If you are a new customer, then you will have to submit the necessary documents in order to avail a gold loan.

Regardless of whether you are an existing or a new customer, you will have to pledge at least 22 carats of gold as security in order for the bank to allow you to avail a gold loan from them.

Online

You can also apply for a gold loan from Federal Bank by visiting the official website of Bankbazaar. All you have to do is provide the necessary information and upload the required documents. Once done, you will have to pledge gold as security. The bank will then review all the documents and information provided by you. If all the information provided by you is correct, the lender will disburse the loan amount to your bank account.