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  • IDBI Gold Loan

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  • IDBI Bank offers Agricultural Finance Gold Loan – which, as the name suggests, is loan against gold for the purpose of meeting immediate agricultural or allied requirements. The loan amount availed against the gold pledged by the borrower can also be used for meeting social obligations and medical needs. This loan is also offered to traders, small businesses and to distributors in order to finance their business processes.

    Features of IDBI Bank Gold Loan

    Minimum Loan Amount

    The minimum loan amount that can be availed by a borrower under this scheme is Rs. 10,000.

    Maximum Loan Amount

    The maximum loan amount that can be availed by a borrower under this scheme is Rs. 5, 00,000

    Loan Tenure

    The minimum loan tenure offered for the IDBI Agricultural Finance Gold Loan is one month and the maximum loan tenure that is available for this scheme is 24 months.

    Documentation for IDBI Bank Gold Loan

    • Identity Proof: Any one of these documents have to be provided as identity proof of the applicant - Voter’s ID, Passport, PAN Card, Photo Credit Card, Existing customer’s introduction, Driving License, introduction of applicant by his/her bank.
    • Income Proof: Income proof is not mandatory for self-employed individuals. This depends on the Bank’s discretion. The income proof documents that have to be submitted by the applicant includes – 12 months’ bank statement, last year’s Income Tax Returns with income computation.
    • Address Proof: Any one of these documents have to be provided as address proof of the applicant – Ration Card, Passport, Utility Bill, Driving License, Credit Card Bill, Existing customer’s introduction or introduction of applicant by his/her bank.
    • Proof of Business: Any one of these documents have to be provided as proof of business by the applicant- electricity bill, telephone bill, sales tax certificate or lease deed for shops and establishments.
    • Self Employed: the mandatory document that has to be provided by self-employed individuals is the copy of a valid certificate for a professional degree.
    • Other documents: Loan account statements, bank account statements, photo of the applicant, Proforma Invoice, etc. as requested by the Bank while processing the gold loan request.

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