Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • HDFC Gold Loan is Rated as "Great!" by 13936 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
      "Needs to improve"
      0.5 1.0/5 "Really Bad"
      I have applied for the personal loan from HDFC bank, my loan application was closed because there was no proper follow up after the application was submitted. The customer service team did not respond and there was no call back from them to collect the documents. The rate of interest was not an issue.
      Was this review helpful? 0
      , allahabad
      Reviewed on Nov 17, 2017
    • HDFC Bank Personal Loan
      "easy approval for personal loan"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan form HDFC bank 3 years back, it was overall a good loan experience. The loan amount was for Rs 1.75 lakhs with the less interest rate. Documents were collected door step. The customer service was good and they responded on time but the process was quite long.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2017
    • HDFC Bank Personal Loan
      "Nominal rate of interest"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with HDFC bank and i it has been a smooth process and experience with them so far. The rate of interest is nominal for the amount taken.I personally feel that HDFC is good with their rates compared to many other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 17, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from HDFC bank, my loan application was approved and the requested amount was disbursed. The loan amount was for Rs 1.5 lakhs with good rate of interest. The tenure was for 4 years and i pay an EMI for Rs 4398. This was an pre approved loan so no documents were required. Customer service was good and they followed up on time. The process was very smooth and easy.
      Was this review helpful? 0
      , rourkela
      Reviewed on Nov 17, 2017
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Though my salary was around 12K earlier. I am glad that HDFC Bank offered me a personal loan of 1.50 Lakh. Being a corporate customer I get a good deal on the interest rate and charges. The bank also provide the best of services always. I have no issues till date.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 17, 2017
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have the personal loan with the HDFC bank and the interest rate is bit higher end. I have taken it almost before two years of time and the rate of interest was on lesser end. I am happy with the HDFC bank and everything was fine.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 17, 2017
    • HDFC Bank Personal Loan
      "Not bad not good"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with HDFC bank 1 years back . The loan amount was 2.5 lakhs and the interest rate was 13-14% which was very high than other banks in the market. They have sanctioned the loan with the committed time and provided door step service for collecting documents. My overall experience was not good not bad.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Via credit card I got the personal loan with HDFC bank. The customer support was good with HDFC bank. I got the loan amount within a 20minutes of time, because it is an pre approved loan and I never submitted any kind of documents , The rate of interest was average with HDFC bank.
      Was this review helpful? 0
      , hospet
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from HDFC bank, my loan application was closed because there was an issue with the salary, i get my salary via cash. When it comes to customer service, it was good and they responded well, they gave proper guidance on what is the next time. The rate of interest was nominal when compared to others in the market.
      Was this review helpful? 0
      , kurukshetra
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have arranged the required loan amount from other source so that was the reason I haven't got the personal loan from HDFC bank. The customer support is average with HDFC bank. The rate interests and the charges are high with HDFC bank when compared with others banks.
      Was this review helpful? 0
      , cuddalore
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan from HDFC bank, my loan application was closed because the interest rate and charges are very high when compared to other sources in the market. Customer service from HDFC bank was good and they responded on time. All the information was given correctly by the customer care executive.
      Was this review helpful? 0
      , nagpur
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have opted for the personal loan from HDFC bank last month. The personal loan service was very fast and quick . I got the loan amount within a hour, because it is an pre approved loan, I never submitted any documents to HDFC bank. The rate of interest which they have offered was high when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "Good experience but high rate of interest"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with HDFC and the service and the experience with them while getting the loan approved and the procedures were done on time and was hassle free however i felt that the rate of interest was too high and was not that comfortable with it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "My worst ever experience "
      0.5 0.5/5 "Unacceptable"
      My loan got approved 3 days back. I am yet to get any status on disbursement. They say that you will get the money today or tomorrow for past 3 days. The rep never answers calls. No courtesy or professionalism at all. If you have any other choise please don't choose hdfc. Their work methods are total chaos.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "Needs to improve"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan from HDFC bank, my loan application was closed because there was no proper follow up after the application was submitted. The customer service team did not come to collect the documents and also there was no interaction with them, they did not response when called. The rate of interest is high when compared to others in the market.
      Was this review helpful? 0
      , bhilai
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have tried applying personal loan with HDFC bank, but the HDFC executives told that my current is not eligible to go with the personal loan. The customer support is below average with HDFC bank, because I never got any call back from HDFC bank. The rate of interest and the charges are high with HDFC bank when compared with ICICI bank.
      Was this review helpful? 0
      , nellore
      Reviewed on Nov 16, 2017
    • HDFC Bank Personal Loan
      "Best banking"
      0.5 4.0/5 "Great!"
      I had requested for a personal loan with Hdfc bank.The loan amount i had taken from the bank is 2.20 lakhs,Rate of interest is 12.30% high as compared to others.Tenure had taken it for 16 months.They had deducted 2% processing fees from the principal.
      Was this review helpful? 0
      , idar
      Reviewed on Nov 15, 2017
    • HDFC Bank Personal Loan
      "Better banking"
      0.5 4.0/5 "Great!"
      I have requested for a personal loan with Hdfc bank.The loan amount i had requested is one lakh,they had promised to give me 50,000 hence i had closed the application.Rate of interest is 12.30% high as compared to other bank.Net banking is very easy to understand and navigate.
      Was this review helpful? 0
      , idar
      Reviewed on Nov 15, 2017
    • HDFC Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have previously taken personal loan from HDFC bank, the experience was not so good with HDFC personal loan. The loan amount was for 2 lakhs with rate of interest of 16% which is way high when compared to other banks. Customer service was average and up to the mark. The process was bit delayed and it took 2 weeks of time for the loan to get approved.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 15, 2017
    • HDFC Bank Personal Loan
      "Best banking"
      0.5 4.0/5 "Great!"
      I have requested for a personal loan with Hdfc bank.The loan amount is 75 thousand.I have closed it because i don't have any requirement as of now.otherwise the bank service is good they had responded the details of the loan on time. The website is easy to understand and navigate.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 15, 2017
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