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  • HDFC Gold Loan is Rated as "Great!" by 14711 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
      "Good. Can do better in the ROI"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from HDFC bank and the process was smooth and easy to get the loan through. The documentation was minimal and I got the loan with ease. The rate of interest and processing charges are on the higher side when compared to the other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2018
    • HDFC Bank Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the HDFC bank for 3.25 lacs. Being an employee the whole application process was very easy and hassle free. The whole process too just days and got the loan approved instantly. It was a fast and easy loan experience.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 24, 2018
    • HDFC Bank Personal Loan
      "Unhappy with the services"
      0.5 2.5/5 "Just OK"
      I have taken a personal loan from HDFC Bank earlier. It was not a satisfactory experience, a lot of documents was required and the process was not smooth. The rate of interest and processing charges is also on the higher side when compared to the other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2018
    • HDFC Bank Personal Loan
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      The experience is very good with HDFC Bank. I have taken a personal loan. The first emi has been deducted and they been supportive to collect the documentation. The rate of interest is around 11.5%, though I am not too sure of it. The processing fees was very low.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 24, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with HDFC bank 4 years back. The loan amount was 4.14 lakhs .The interest rate was 12.995 which is bit high than other banks. The customer service and responses was really good.My overall experience was satisfactory so Its recommendable.
      Was this review helpful? 0
      , chennai
      Reviewed on May 24, 2018
    • HDFC Bank Personal Loan
      "Process is good. ROI is high"
      0.5 4.0/5 "Great!"
      It was a good experience with HDFC Bank for the personal loan. The customer services and response is good and there were no issues I faced. I got the loan within 10 days. The rate of interest is high, it is around 17% and I am not sure on the processing fee. I have taken a loan amount of 2.38 lakhs for the tenure of four years.
      Was this review helpful? 0
      , purnia
      Reviewed on May 24, 2018
    • HDFC Bank Personal Loan
      "Average experience"
      0.5 3.0/5 "Satisfactory"
      It was not a up to the mark experience with HDFC Bank for the personal loan. The documentation process was not taken at one go. I had to keep resubmitting my paper work. The rate of interest is on the higher side, it is around 17%. The process for the loan was done in eight days.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2018
    • HDFC Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with HDFC Bank earlier and it was a average experience. I would suggest that the bank has to improve on the overall services and the interest rate and processing charges is also on the higher side when compared to the other banks.
      Was this review helpful? 0
      , chennai
      Reviewed on May 24, 2018
    • HDFC Bank Personal Loan
      "EXCELENT"
      0.5 5.0/5 "Blown Away!"
      The over all experience is very good. When it comes to the interest rate it is high the interest rate is 15.05%. MY INSURANCE is for 3 years, and i have to pay it for 3 years i would be paying for my loan through on line I am satisfied with the limit that they are provided in my loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 23, 2018
    • HDFC Bank Personal Loan
      "Not up to the mark"
      0.5 1.0/5 "Really Bad"
      The experience at HDFC Bank was not up to the mark. I had taken a personal loan. They were no transparent in the process and what ever they spoke to me regarding the charges was not consistent. I was charged extra at the end and they have no been able to clarify the same with me. Initially the interest rate was around 13.5% to 14% and finally they have processed the loan for 14.5%.
      Was this review helpful? 0
      , darbhanga
      Reviewed on May 22, 2018
    • HDFC Bank Personal Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      It was a good experience with HDFC Bank for the personal loan. I have got the loan within a week, they were quick to collect the documents and process the same. The rate of interest is around 10.99% and the processing charges is average. The loan amount disbursed is as per my requirement and it is for the tenure two years.
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2018
    • HDFC Bank Personal Loan
      "Process is good"
      0.5 5.0/5 "Blown Away!"
      I am happy with the services of HDFC Bank. They have completed the process on time and the loan was also provided the loan as per my requirement. The rate of interest was around 10.99% and the processing charges was normal. In all a good experience.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The HDFC bank has offered me a personal loan based on my requirement. The customer support service and the response is good from the HDFC bank, it was a pre approved loan which I got from the HDFC bank, and I have not submitted any documents as well.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 21, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The HDFC bank was ready to approve the personal loan on time. But I haven't got the loan ,because I have postponed my plan, that was the reason I haven't got the loan from them. The rate of interest and the charges are average when compared with others.
      Was this review helpful? 0
      , paradip
      Reviewed on May 21, 2018
    • HDFC Bank Personal Loan
      "Need to reduce charges"
      0.5 3.5/5 "Pretty good"
      My personal loan experience was good with HDFC bank, the loan amount was sufficient but the rate of interest was high when compared to other banks. Customer service was good and they followed up on time. I prelcosed this loan due to personal reason and i had to pay a penalty for it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 21, 2018
    • HDFC Bank Personal Loan
      "HDFC BANK Personal Loan"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan wit HDFC bank which was taken in few days. The loan amount was 50,000 and the interest rate was 15.75% which is too high . The tenure period was 12 months. The customer service and responses was really good. The loan was approve on time and I have not faced any inconvenience with the process,.
      Was this review helpful? 0
      , noida
      Reviewed on May 21, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan three times and the loan amount which I have got was 2laks, the HDFC bank executives will come and collect the documents on time and they will process the loan within 2 to 3 days of time. The rate of interest and the charges are bit high with the HDFC bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 21, 2018
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan wit HDFC bank which was taken 1 year back. The loan amount was 3 lakhs and the interest rate was 10.99% which is average . The tenure period was 36 months. The customer service and responses was really good. The loan was approve don time and I have not faced any inconvenience with the process,.
      Was this review helpful? 0
      , thane
      Reviewed on May 20, 2018
    • HDFC Bank Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from the HDFC bank. The loan application was completely paperless. The loan amount was credited to my account quickly. Overall the whole application process was really fast and hassle free. It is so easy to apply for personal with HDFC
      Was this review helpful? 0
      , secunderabad
      Reviewed on May 20, 2018
    • HDFC Bank Personal Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with HDFC bank few months back. The loan amount was 5 lakhs and the interest rate was 10.99% which is average . The tenure period was 5 years and the process easy very smooth. They have sanctioned the loan with the committed time.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 20, 2018
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