Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • HDFC Gold Loan is Rated as "Great!" by 14150 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.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    HDFC Gold Loan Reviews

    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The HDFC personal loan service was good and I have got the loan amount within 3 days of time. The customer support is prompt with the HDFC bank and they give good response to the customers,. The required loan amount has been given and I am satisfied with it.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 15, 2017
    • HDFC Bank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The personal loan service was average with the HDFC bank . The interest rate is very high with the HDFC bank personal loan service. I got the personal loan around 6 months ago. They have taken around 10minutes to disburse my loan amount, because I have applied for the personal loan via HDFC bank net banking.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 15, 2017
    • HDFC Bank Personal Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I have my personal loan with HDFC Bank . The loan amount was 2 lakhs and the interest rate was 15-16% which was very high than other banks in the market . The tenure period was 4 years and they have sanctioned the loan with the committed time. The customer service and responses was satisfactory .
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Dec 14, 2017
    • HDFC Bank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The rate of interest offered by hdfc personal loan department was little high compared to others in the market ,but they ask for lot of documents during the process and the payments where generally through online. The customer support was good it was a good experience with hdfc personal loan department.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 14, 2017
    • HDFC Bank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from HDFC. The approved loan amount was 2 lakhs. The rate of interest was 14%. I have taken the tenure for 24 months. Since i hold a saving account with HDFC bank, within 48 hours the amount got credited. It was a good experience.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 13, 2017
    • HDFC Bank Personal Loan
      "Better"
      0.5 3.0/5 "Satisfactory"
      I had closed my personal loan with HDFC bank before 2 years. It was a good experience. The customer service and response was good. The executive came to my place and collected the documents. I have taken 22L for 16 months. The interest rate was normal like other banks on that time.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 13, 2017
    • HDFC Bank Personal Loan
      "Overall process is good"
      0.5 4.0/5 "Great!"
      HDFC Bank is overall good and I have taken a personal loan from them. I had no hassles with the interest rate and charges. It was normal process and they were quick to disburse the loan. The after loan process is also satisfactory. In all no issues.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 13, 2017
    • HDFC Bank Personal Loan
      "Interest and Charges should be reduced"
      0.5 4.0/5 "Great!"
      Previously I had loan with HDFC, I took principal amount Rs. 4 lakhs but there interest rate was high around 14.5% so I have done balance transfer from HDFC to ICICI. Documentation process was very simple with HDFC bank. But I was disappointed with the rate of interest and foreclosure charges.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 12, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The personal loan service has been given by HDFC around 6 months ago. The process was smooth with HDFC bank. They have disbursed the loan amount with in 3 days time. The required loan amount has been disbursed and I am satisfied with it. The rate of interest was 12.5%, I would say it is low when compared with others.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 12, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with Hdfc bank.I have requested for 3.50 lakhs hover they have credited only 1.80 lakhs post deducting processing fees and insurance charge.I am not happy with the service as they need to be transparent the customers.They initially told it will be process within 24 hours but its got credited after 10 days.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 12, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a personal loan with Hdfc bank.The loan amount is received as expected Rate of interest is nominal as compared to other banks. They had processed the request within the turn around time.Its hassle free banking with them.The website is easy to understand and navigate.
      Was this review helpful? 3
      , mumbai
      Reviewed on Dec 12, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Hdfc bank.The loan amount is 98,000,rate of interest is nominal compared to others.They had immediately processed the request and was credited on time.The executives shared complete details.Net banking and phone banking service is good.
      Was this review helpful? 3
      , mumbai
      Reviewed on Dec 12, 2017
    • HDFC Bank Personal Loan
      "Need to improve documentaion procedure"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with Hdfc bank.The loan amount is 2.70 lakhs.The service is not up to the mark they have asked to submit documents multiple times which was required and the payment options are not easy to understand,no one has called me so far post getting loan and explained the procedure and charges are high.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 12, 2017
    • HDFC Bank Personal Loan
      "Best service"
      0.5 4.5/5 "Excellent!"
      My personal loan experience with HDFC bank was very good, the loan amount was for Rs 1.28 lakhs with the nominal rate of interest when compared to other banks. Customer service was good and their response was prompt. The loan amount got transfered to my account within 5 minutes and the process was very quick.
      Was this review helpful? 2
      , new delhi
      Reviewed on Dec 11, 2017
    • HDFC Bank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with HDFC bank was good, the loan amount was for Rs 1 lakh and the rate of interest was less when compared to all other banks. The process was very smooth and my loan amount was approved within the given time. Customer service was good and they provided door step service to collect the documents. It was overall a good service from HDFC bank.
      Was this review helpful? 2
      , kolkata
      Reviewed on Dec 11, 2017
    • HDFC Bank Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      I am having the personal loan with the HDFC bank and the interest rate is good one. The loan amount got disbursed within ten days of time. Everything is good one with the HDFC bank for the credit process.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 11, 2017
    • HDFC Bank Personal Loan
      "Good "
      0.5 4.0/5 "Great!"
      My personal loan was taken with HDFC bank. The loan amount was 2 lakhs and the rate of interest was satisfactory . The customer service and responses was good. The processing fee was 7000 which was bit high but I had a very hassle free. My overall experience was good.
      Was this review helpful? 0
      , kollam
      Reviewed on Dec 11, 2017
    • HDFC Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had closed the personal loan with the HDFC bank too and currently its a top up loan now . I would like to say that the rate of interest was around 15% and the loan amount got disbursed within two weeks of time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 11, 2017
    • HDFC Bank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I have the personal loan with the HDFC bank and the interest rate was around 13.5%, also they have disbursed the loan amount within two weeks of time. I am happy with the HDFC bank and everything is fine one for me.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 11, 2017
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was a smooth process with hdfc for my personal loan service ,the customer support was good. The rate of interest they offered me was fine compared to others in the market and the documents have been collected from my door step it was a excellent service from hdfc personal loan department.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 11, 2017
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