Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • HDFC Gold Loan is Rated as "Great!" by 13555 Users

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    HDFC Gold Loan

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    Overview about HDFC Gold Loan

    Gold is a lucrative investment, offering great returns at low risks, with Indians accounting for a major portion of gold purchased globally. A unique advantage of investing in gold is the liquidity it offers, with it easy to avail a loan against it. HDFC Bank offers a specialised gold loan scheme, Sampoorna Bharosa Gold Loan, designed to provide financial aid to individuals in lieu of their gold. Available across all HDFC branches in the country, it is an easy to avail loan which can be used to meet multiple financial requirements.

    Features of HDFC Gold Loan

    Some of the distinguishing features of HDFC Sampoorna Bharosa Gold Loan are highlighted below.

    • Multipurpose loan – Loan amount can be used to meet any genuine financial requirement.
    • Quick approval – Minimal documentation results in quick approval, minus any hassles and delays.
    • Loan amount – Individuals can avail loan amounts which suit their needs, with HDFC Bank open to consider loan amounts on a case by case basis.
    • Prepayment – Borrowers can prepay the loan, without worrying about excessive prepayment charges.
    • Competitive interest rates – Interest charged by HDFC Bank on this gold loan scheme is highly competitive, with special rates offered under certain circumstances.
    • Transparent – There are no hidden charges, with transparency maintained at all stages.
    • Safety – The collateral pledged by individuals is kept safe, with a 3 tier sealing system in place.
    • Low processing fee - Borrowers are charged a minimal processing fee, keeping general trends and competition in mind.
    • Flexible repayment – The loan can be repaid through flexible EMIs, with borrowers having an option to choose a tenure which suits their repayment needs.

    HDFC Gold Loan Interest Rates

    Interest rates charged by HDFC on its Sampoorna Bharosa Gold Loan vary depending on the loan tenure, amount and borrower. Current rates range between 9.70% per annum and 20.18% per annum, with the quality of gold also playing an important role in determining this rate. Average rates charged by HDFC Bank fall in the range of 12-13% per annum, making it highly competitive.

    HDFC Bank offers special rates to women and existing customers of their products and services.

    Note: Rates mentioned above are as of May 2016, with these rates subject to change without any notice. Applicants should check the rates applicable before availing a loan.

    Eligibility criteria to avail HDFC Gold Loan

    Individuals who wish to avail this gold loan need to satisfy a few basic criteria.

    • Income – Applicants should have sufficient income to repay the loan amount.
    • Security – Applicants can avail this loan only on providing security in the form of gold.

    Documents required for HDFC Gold Loan

    HDFC has minimised the documentation process for this loan offering, with a single page procedure in place. The following documents need to be submitted in order to process an application.

    • Valid ID proof – Valid government approved ID proof (PAN card, Passport, DL, etc.)
    • Valid address proof – Valid government approved address proof (utility bill, passport, Aadhar card, ration card, etc.)
    • Application form – Duly filled and signed application form

    HDFC Bank might ask for any other documents it feels are necessary to complete application formalities.

    Fees and charges associated with HDFC Gold Loan

    The table below highlights the various charges associated with this gold loan.

    Fee/Charge type Fee/charge amount
    Processing fee* 0.5% of loan amount
    Prepayment/foreclosure charges

    Max – 1%

    Borrowers can also approach the bank to waive off such charges

    Valuation fee

    Max – Rs 500, for loans over Rs 1.5 lakhs

    Min – Rs 250, for loans up to Rs 1.5 lakhs

    Renewal charges Rs 250 (maximum)

    *Note: HDFC Bank may choose to waive the processing fee, at its sole discretion, based on its relationship with a borrower.

    HDFC Gold Loan FAQs

    1. How long does it take to get a loan application approved?

      HDFC’s Sampoorna Bharosa Gold Loan has been designed as an over the counter loan, with it possible to avail a loan in under an hour, subject to applicants meeting certain basic eligibility criteria.

    2. What is the repayment tenure for this loan?

      This loan comes with flexible repayment tenures, ranging between 6 months and 4 years.

    3. What is the minimum loan amount offered under this scheme?

      A. The minimum loan amount has been kept at Rs 50,000 for urban markets. Rural borrowers can avail loans below this amount, with HDFC Bank open to offer loans on the basis of individual requirement.

    4. Are there any purposes for which this loan cannot be used?

      Yes, this loan can be used only for personal/business use, with HDFC prohibiting the use of this loan to purchase gold, land or market speculations.

    5. Is it possible to get a lower interest rate on this loan?

      Yes, existing customers can negotiate interest rates with the bank, availing an opportunity to lower rates.

    6. Can one apply for this loan online?

      Yes, individuals can apply for this loan online, by logging onto the official website of HDFC Bank, India.

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    HDFC Gold Loan Reviews

    • HDFC Bank Personal Loan
      "Not good"
      0.5 2.5/5 "Just OK"
      My personal loan is with HDFC bank taken before 1 years . I have taken 4 lakhs and the rate of interest was 13% which was bit high in the market . The EMI period was 4 years. They have provided door step service for he documentation collection and the loan process is also easy. It took 2 weeks for the verifying the documents so they did not sanction the loan with the committed time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • HDFC Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      HDFC gave me quick loan process, I am very much satisfied with them. I have taken the loan amount of Rs.2 lakhs for the tenure of two years. I felt their interest and processing fee was also quite nominal as per the market. Overall I don't have any issue with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • HDFC Bank Personal Loan
      "For ordinary people"
      0.5 3.0/5 "Satisfactory"
      HDFC Bank personal loan process is okay, the reason for choosing HDFC Bank was because I hold a salary account with the same bank , also the bank was kind enough in providing this loan as the offer was good therefore I had utilized it. Parallelly , I did not get any discount on the interest rate but the processing fee was reasonable.
      Was this review helpful? 0
      , palladam
      Reviewed on Oct 21, 2017
    • HDFC Bank Personal Loan
      "Expensive interest rate"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with HDFC bank. The rate of interest was very expensive, the one and only reason is their processing time is very short. The customer service and response was satisfactory.They have processed my loan within 48 hours. The emi period is 3 years and I took loan amount of 2lakhs.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • HDFC Bank Personal Loan
      "Foreclosure charges should be waived off"
      0.5 5.0/5 "Blown Away!"
      HDFC personal loan process was very fast, I don't get a chance to reach the customer care. But if I want to close the loan I need to pay 2% of charges from the principal amount it was really bad. It would be if they avoid collecting foreclosure charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 21, 2017
    • HDFC Bank Personal Loan
      "Need to respond quickly"
      0.5 4.0/5 "Great!"
      I took the loan amount of Rs.1.5 lakhs from HDFC BANk for the tenure of two years. The response was very slow and they took long time for the verification process. The loan process took place for around 20 to 30days. The rate of interest was satisfactory. The EMI amount will be auto debited from the salary account.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 21, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with HDFC Bank. The customer service and response was good. The executive collected the documents at door step. They have disbursed the loan within 2days. ROI was very less and it was satisfactory. The EMI period is 5 years and payment done through net banking.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 21, 2017
    • HDFC Bank Personal Loan
      "average service"
      0.5 2.5/5 "Just OK"
      I have a ongoing loan from HDFC the service is not good which I expected from HDFC their process was very slow also they need lot of documents during the loan process but they collected the documents from my door step the rate of interest was 11.7 which was fine compare to others in the market I will say the service of HDFC is average for my personal loan service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 21, 2017
    • HDFC Bank Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      I am not very much happy about the service of HDFC I have already uploaded all my documents through online still they asked for my physical documents also they asked me to take insurance which was not at all needed for me they said it was mandatory to take the insurance also they were not much professional when comes for the interest rate they were bargaining for the interest rate . I would summarize that the service provided by HDFC Bank is average.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 20, 2017
    • HDFC Bank Personal Loan
      "worst service"
      0.5 1.0/5 "Really Bad"
      I am not happy with the service of HDFC for my personal loan service the process was very slow from the date I applied for my personal loan they takes one month to complete my loan process ,I feel they need to improve their service ,HDFC service is is not much as I expected from them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • HDFC Bank Personal Loan
      "very good"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with HDFC bank 3 months back. The loan amount was 1.5 lakhs and the EM,I period was 3 years . The rate of interest was 14% which is bit high in the market. The loan process was easy and hassle free. Its completely paperless also, They have sanctioned the loan with the committed time and provided door step service for the documentation collection.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 20, 2017
    • HDFC Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan two times from HDFC, their service is excellent. Even their interest rate is also nominal as per other banks. I took the amount of Rs. 1.5 lakh and second time I done a top up of Rs. 90,000. Processing time is very short and hassle free.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • HDFC Bank Personal Loan
      "Satisfactory services"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from HDFC Bank and the process for the loan was smooth. Being an existing customer the documentation process was easy. The interest rate and processing charges are normal and the after loan services are good too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 20, 2017
    • HDFC Bank Personal Loan
      "Good services"
      0.5 4.0/5 "Great!"
      HDFC Bank is good in the process for the personal loan. They have been proactive and been supportive as well. The customer services are good and there are no hassles. The process has not completed and it is still on. The bank in also offering me a reasonable rate and fee.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 20, 2017
    • HDFC Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      Hdfc done a good job, they only taken seven days to disburse the amount. They gave me door step service, executive came to my place and collected the documents. I took principal amount of Rs. 5.6 lakhs, with good interest rate and processing fee.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 20, 2017
    • HDFC Bank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      Earlier I taken personal loan of Rs. 3 lakhs from HDFC for the tenure of two years. They done very good loan process, totally they have taken only four days to sanction the personal loan. I paid all the dues and closed the loan without any hassles.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 20, 2017
    • HDFC Bank Personal Loan
      "Good. Can do better in charges"
      0.5 4.0/5 "Great!"
      HDFC Bank is not up to the mark for the personal loan, because there is a lock in period for the foreclosure and the charges are very high for it as well. There are insurance charges too taken for it. Else to avail the loan there is no issues in the process.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 20, 2017
    • HDFC Bank Personal Loan
      "High on ROI and charges"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from HDFC Bank earlier and the process to get the loan was very quick and easy. The customer services was good and they completed the disbursement was on time. The bank was high on the rate of interest and processing charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 19, 2017
    • HDFC Bank Personal Loan
      "Personal loan process is good"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank Personal loan process is good, I like everything, they send all correspondence through mail. It is an ongoing loan. ECS is getting debited from my account every month without any hiccups. Interest rate and processing fee charged by HDFC Bank is quite satisfactory
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 19, 2017
    • HDFC Bank Personal Loan
      "Customer friendly"
      0.5 4.0/5 "Great!"
      HDFC documentation procedure was good, their executive have communicated everything on time. The loan disbursement was also happed on time, I felt HDFC service is upto the mark. But I didn't get the certain principal amount which I was expected, it would great if they send mail regarding to the principal amount change.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 19, 2017
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