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.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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IDBI is good in the personal loan process. I was contacted on time and collected the documents. They offered a good deal on the rate of interest and processing charges when compared to the other banks. The after loan services is also good and satisfactory.
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2
INDRATHI ANANDHAN
, chennai
Reviewed on Jan 31, 2019
I taken my personal loan with IDBI 10 months back. Loan amount got sanctioned the delay of 10 amount. I have applied the amount of Rs. 3 lakhs for that they have offered me a interest rate of 13% which is higher and I'm not satisfied with it. I selected the tenure period for 2 years. I have been paying the EMI of 13 K every month. I make the payment through ECS.
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5
KARTHIK SATHYA RANJAN
, bangalore
Reviewed on Dec 05, 2018
The IDBI bank has mingled with the AIR CORPORATION EMPLOYEES BANK,which has approved me a personal loan and they have disbursed the loan amount on time. The required loan amount has been disbursed and I am satisfied with it. The rate of interest and the charges are average with the AIR CORPORATION EMPLOYEES BANK.
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10
YESHWANT BALIRAM DRAVE
, mumbai
Reviewed on Jan 29, 2018
The customer service is better with IDBI bank,when compared with HDFC and ICICI banks . The rate of interest is nominal with IDBI when compared with other banks. The part payment is available with IDBI bank. I am satisfied with the IDBI service
IDBI is okay in the rate of interest. I got the interest rate of 14% for the personal loan with the processing fee of 800 of the loan amount. Documentation process is very simple and it is surely a recommendable bank. Even they maintain good customer service.
The executive was very knowledgeable at IDBI. When I applied for a personal loan, I only had to send him one email with all the necessary documents. From my statements to my ID and address proof and income proof as well. The process was smooth and I got the loan on time without any issues, unlike the experience I had at PNB housing finance.
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3
SANJAY SHARMA
, faridabad
Reviewed on Aug 05, 2017
About fifteen years ago I had taken the personal loan from IDBI bank. The interest rate for the personal loan is around 15.5%. Document part is very simple and the bank sanctioned the loan amount on time. I am very much happy with IDBI for the personal loan.
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5
HUKUM CHAND SAINI
, indore
Reviewed on Jun 22, 2017
IDBI is good in the rate of interest. I got the interest rate of 9.8% for the personal loan with the processing fee of 1% of the loan amount. Documentation process is very simple and it is surely a recommendable bank. Even they maintain good customer service.
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9
RAVI KIRAN NADELLA
, bangalore
Reviewed on May 27, 2017
I got the personal loan with the IDBI and they have provided me around 13% as interest rate . Customer service is good and the processing charges were around 3500 Rupees , which does not inclusive of insurance . The loan amount got disbursed to my account within ten days of time.
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7
BOYAPATI RAVIKUMAR
, hyderabad
Reviewed on May 26, 2017
I have taken a personal loan from IDBI and it was a smooth process. I got a good offer on the rate and charges and the process was very clear and on time. I also got the loan I was needing and the after loan services was also smooth. The documentation was also nominal.
A general piece of advise to all, dont approach IDBI if you dont hold an account with them nor if the age of your account is less than one year. As it happened in my case when I had placed a request for this online I did not get any sort of response from them. When I phoned the bank I got to know that they were unable to process my loan as the age of my account is less than a year.
I am a existing customer at IDBI Bank. The services are good from them. I have taken a personal loan and it was a simple process. They provided a good rate of interest on the loan. It was of 11.75%. The processing charges was of 1%. It was completed with minimal documentation too.
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2
TUSHAR KANTH SWAIN
, jajpur
Reviewed on Aug 17, 2016
The service provided was really good with IDBI related to the personal loan application being submitted.The interest rate applied was high with IDBI which was around 18%.They are best in processing the documents related to the loan application.
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2
SUMIT KUMAR CHAUHAN
, jamshedpur
Reviewed on May 06, 2016
First and foremost thing to approach the IDBI bank is their customer service. Next to that the interest rate for the personal loan where that is around 13.25% on reducing basis. Nothing shared about insurance so I have not taken insurance for the loan.
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3
KAMATCHI KARUPPAIYA
, tiruchirapalli
Reviewed on Feb 19, 2016
I am an employe of IDBI Bank so, they offered staff loan which is personal loan. I got my loan without any interest as well as processing. But the thing loan amount which was very less. They offered only 2000rs even though I would recommend them to others.
I just approach IDBI Bank over through phone in terms of personal loan. They responded well. Their service also good when I visited the branch. After the verification they updated every thing about my loan. Rate of interest offered by them was 11 to 12% and I am comfortable with them.
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2
VAITHIYANATHAN SEENIVASAN
, rajapalayam
Reviewed on Jan 22, 2016
I have taken the personal loan amount of 2 lakhs and for that they provided interest rate of 12.25%. Actually I have an account with IDBI so the processing charge is zero percent. Customer service is too good. Total process took only a week time post my application.
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2
DHARMENDRA CHAUDHARY
, mudhol
Reviewed on Jan 15, 2016
My personal loan is from IDBI Bank. The services was very good from them. The response is good too. They offered a very good rate of interest. The processing charges was good too. I received the loan within seven days. Very good experience.
I took the personal loan from IDBI with the rate of interest of 12% and they took only 15 days to disbursed the loan amount. We can do the pre closure of the loan soon after 3 months also without any charges.
I closed my Personal Loan with IDBI bank. They have quickly processed my loan amount which I have taken 3-4 lakhs from them. Since I am holding my saving account with them there was no much documents collected from me. The bank executive has visited me for signing my papers and I just given 2 photo copies of mine.
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9
ATUL VISHWANATH CHITRE
, mumbai
Reviewed on Aug 27, 2015
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.
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