Interest Rate & Loan Details
- Interest Rate: Starts from 9.00% p.a. (subject to change as per Indian Bank policy)
- Loan Amount:
- Minimum: As per bank’s discretion
- Maximum: As per bank’s discretion
- Loan Tenure: Typically up to 12 months (with flexible repayment options)
- Processing Fee: As applicable by the bank
- Pre-closure Charges: Nil (as per Indian Bank norms)
- Loan-to-Value (LTV) Ratio: Up to 75% of the pledged gold’s market value
Purpose of Gold Loan
Indian 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 Indian 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
- Income: Applicants must have a reliable source of income to ensure loan repayment capability
- KYC Compliance: Applicants must submit valid KYC documents for verification
Documents Required
Applicants must provide the following documents when applying for an Indian Bank Gold Loan:
- Application Form: Duly filled and signed
- Photographs: Two recent passport-size photos
- Identity Proof (Any one):
- Aadhaar Card
- PAN Card
- Passport
- Voter ID
- Driving License
- Address Proof (Any one):
- Aadhaar Card
- Utility Bills (Electricity, Water, Telephone)
- Ration Card
- Lease Agreement
Loan Amount & Security
- Minimum Loan Amount: As per bank’s discretion
- Maximum Loan Amount: As per bank’s discretion
- Loan Security: Pledge of gold ornaments, duly verified for quality and quantity
Repayment Options
Indian Bank offers flexible repayment options for gold loans:
- Bullet Repayment: Principal and interest are repaid at the end of the loan tenure
- EMI-Based Repayment: Fixed monthly installments over the loan tenure
Charges & Fees
- Processing Fee: As applicable by the bank
- Gold Appraiser Charges: Applicable as decided by the bank
- Prepayment Penalty: Nil
Key Considerations Before Applying
- Gold Quality: Only gold ornaments are 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 Indian Bank Gold Loan
- Quick Loan Approval: Fast disbursal, often within a few hours
- Attractive Interest Rates: Starting from 9.00% p.a.
- High Loan Value: Loan up to 75% of the pledged gold’s market value
- Flexible Repayment: Choose between bullet repayment and EMI options
- No Guarantor Required: The pledged gold itself serves as collateral
Contact Indian Bank
- Customer Care Number: 1800 425 00 000
