Interest Rate & Loan Details
- Interest Rate: Starting from 9.30% p.a. (subject to change as per HDFC Bank policy)
- Loan Amount:
- Minimum: As per bank’s discretion
- Maximum: Based on the value of pledged gold, up to 75% of its market value
- Loan Tenure: Flexible repayment tenure ranging from 6 to 24 months
- Processing Fee: Up to 1% of the disbursal amount plus applicable taxes
- Valuation Charges:
- ₹300 + applicable taxes for loan amounts up to ₹1.60 lakh per packet per loan
- ₹700 + applicable taxes for loan amounts above ₹1.60 lakh up to ₹10 lakh per packet per loan
- ₹900 + applicable taxes for loan amounts above ₹10 lakh per packet per loan
- Pre-closure Charges: 1% on principal outstanding plus applicable taxes
- Loan-to-Value (LTV) Ratio: Up to 75% of the pledged gold’s market value
Purpose of Gold Loan
HDFC Bank provides gold loans to meet urgent financial requirements, including:
- Personal expenses
- Education fees
- Medical emergencies
- Business expansion
- Agricultural investments
Eligibility Criteria
To be eligible for an HDFC Bank Gold Loan, you must meet the following conditions:
- Age: Minimum 18 years
- Ownership: You must own gold jewelry that can be pledged as collateral
- Occupation: Open to salaried professionals, self-employed individuals, business owners, students, senior citizens, pensioners, and homemakers
- KYC Compliance: Applicants must submit valid KYC documents for verification
Documents Required
Applicants must provide the following documents when applying for an HDFC Bank Gold Loan:
- Application Form: Duly filled and signed
- Photograph: One recent passport-size photo
- Identity Proof (Any one):
- Passport (Not expired)
- Driving License (Not expired)
- Voter’s ID Card
- Aadhaar Card issued by UIDAI
- PAN Card (along with any of the above-mentioned documents) or Form 60
- Address Proof: Same as Identity Proof documents
Loan Amount & Security
- Loan Security: Pledge of gold ornaments, duly verified for quality and quantity
Repayment Options
HDFC Bank offers flexible repayment options for gold loans:
- EMI-Based Repayment: Fixed monthly installments over the loan tenure
- Bullet Repayment: Principal and interest are repaid at the end of the loan tenure, with options for 6 months
Charges & Fees
- Processing Fee: Up to 1% of the disbursal amount plus applicable taxes
- Valuation Charges: As mentioned in the ‘Interest Rate & Loan Details’ section
- Pre-closure Charges: 1% on principal outstanding plus applicable taxes
Key Considerations Before Applying
- Gold Quality: Only gold jewelry with purity between 18K to 22K is accepted as collateral
- Loan Terms: Review the loan agreement carefully before signing to understand all terms and conditions
- Gold Security: Failure to repay the loan may result in the forfeiture of your pledged gold
Benefits of HDFC Bank Gold Loan
- Quick Loan Approval: Fast disbursal, often within 45 minutes
- Attractive Interest Rates: Starting from 9.30% p.a.
- High Loan Value: Loan up to 75% of the pledged gold’s market value
- Flexible Repayment: Choose between EMI and bullet repayment options
- No Guarantor Required: The pledged gold itself serves as collateral
Contact HDFC Bank
- Customer Care Number: Please visit the official HDFC Bank website for the latest contact information
