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Axis Bank Gold Loan Interest Rate

Axis Bank Gold Loan: Details 2022

Last Updated 18th May 2022

Axis Bank Gold Loan Interest rate starts at 14.00% with a loan tenure of 6 months to 24 months. Axis Bank jewel loans offer low interest with multiple repayment options including EMI Scheme, Bullet Repayment Scheme. Axis Bank also offers agriculture gold loans with interest rates lower than the rates for regular customers Check Best Offers.

Axis Bank Gold Loan Rate 14.00% onwards
Processing Fee Upto 0.5%
Loan Tenure 6 months to 24 months
Loan Amount ₹ 25,000 to ₹ 20 Lakh
Prepayment Charges Nil
Gold Loan SchemeEMI Scheme, Bullet Repayment Scheme

Nil part payment charges

Apply for Gold Loan @ 9.00%* Get upto ₹ 500* Voucher

Axis Bank Gold Loan

You can avail Axis Bank gold loan by pledging your gold ornaments for meeting urgent personal expenses like children's education, marriage and other financial emergencies in family or business. The gold mortgaged acts as a security to the loan. You can avail following benefits by availing gold loan in Axis Bank bank:

  • Axis bank offers gold loans for long tenure of up to 36 months, which allows you to repay the loan in EMIs of low amount.
  • The bank does not charge any foreclosure fees on its gold loan products, thus ensuring that the customers have full flexibility in managing their loan repayments.
  • You can earn Axis eDGE reward points if you take a loan from Axis Bank. These reward points are redeemable in various online transactions.

Current Axis Bank Gold Loan Interest Rate

Axis Bank gold loan interest rate currently starts at 14.00% from the previous rate of 13.50%. The lowest gold loan rate of interest in Axis Bank was increased by 0.5% on 09 May, 2022. You can avail jewellery loans for any purpose for a maximum tenure of 24 months. Axis Bank offers a gold loan at the cheapest rates as it is a secured loan and has multiple repayment options like the gold loan EMI Scheme, Bullet Repayment Scheme.

Axis Bank Gold Loan Details

  • Purpose of Gold loan: To meet personal and business expense requirements
  • Collateral: Loan against security of your gold jewellery
  • Type of Gold Accepted: Gold jewellery of up to 50 grams with a purity of 18 to 22 carat
  • Customer Segments: Axis Bank offers jewel loans to all individuals above 18 years of age, including salaried, self-employed professionals, businessmen, students, pensioners and housewives
  • Gold Loan Features
    • Axis Bank gold loan interest rates starts from 14.00% to 16.50%
    • Axis Bank charges a processing fee of Upto 0.5%
    • Loan Tenure of Gold Loan ranges from 6 months to 24 months
    • The lowest EMI per lakh on Gold Loan from Axis Bank is offered at the lowest gold loan interest rate and at the longest loan tenure.
    • Axis Bank allows prepayment of jewel loans with Nil charges
  • Gold Loan Axis Bank Bank Popular Gold Loan Schemes

Documents Required for Axis Bank Gold Loan

The documentation process of Axis Bank is smooth. You need to submit one proof of identity and address to get an Axis Bank gold loan. The list of identity and address proofs is as follows:

  • Identity proof: PAN Card, Driving License, Passport, Voter’s ID Card, Aadhar Card
  • Address proof: Voter’s ID Card, Aadhar Card, Rent Agreement, Utility Bills, Bank Statement

Comparison of Axis Bank Gold Loan Interest Rates and Other Charges with Top Banks

Gold loan interest rates in Axis Bank are very affordable. However, you must analyze multiple banks and their offers before applying for a jewellery loan.

Particulars Axis Bank SBI HDFC Bank
Current Interest Rate 14.00% - 16.50% 7.40% - 7.40% 9.00% - 15.00%
Previous Lowest Interest Rate 9.75% 9.75% 9.75%
Lowest Rate Difference 4.25% -2.35% -0.75%
Processing Fees Upto 0.5% 0.25% of the loan amount, minimum-₹ 500 0.50% of the loan amount
Loan Tenure 6 months to 24 months 3 months to 36 months 3 months to 24 months
Loan Amount ₹ 25,000 to ₹ 20 Lakh ₹ 20,000 to ₹ 50 Lakh ₹ 25,000 to ₹ 10 Lakh
Foreclosure Charges Nil Nil Zero prepayment charges post 6 months
Repayment Options Y Y Y
Lowest EMI Per Lakh ₹ 4,801 per lakh ₹ 3,106 per lakh ₹ 4,568 per lakh

How Can I Get a Gold Loan from Axis Bank at the Best Interest Rates?

You can apply for a gold loan with Axis Bank directly through branch walk-in or by filling an online application form.

  • To get the best gold loan rate offers and comparison of all banks, you can apply online through MyLoanCare.
  • MyLoanCare will give you a detailed comparison of gold loan schemes of all banks, calculate your gold loan eligibility and connect you to the best bank for gold loans.
  • Customer representatives of the bank will instantly contact you to fix up an appointment for a branch visit.
  • Further, you will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting a loan is smooth, convenient and quick.

You can get a gold loan in a single branch visit, during which Axis Bank will do an appraisal of your jewellery in terms of its purity and weight. If the jewellery meets the bank standards, the bank will sanction your loan and give you an instant loan against the security of your gold jewellery.

Axis Bank Gold Loan Interest Rate Calculator

Lowest Gold Loan Interest Rate in Axis Bank is 14.00%. The factors that affect the Axis Bank gold loan interest rate are loan amount, loan tenure and loan required as a percent of the value of gold jewellery. Axis Bank’s existing account holders get a gold loan at the best rates compared to other customers. You can use the Axis Bank gold loan interest rate calculator to calculate EMI on gold loans at the lowest rates.

  • Loan Amount: The amount of gold loan you avail from Axis Bank depends on the weight of jewellery you can pledge with the bank. Axis Bank offers a loan per gram of gold which differs by the purity of gold and loan to value ratio offered. The Bank offers loans between ₹ 25,000 and ₹ 20 Lakh. The gold loan interest rate Axis Bank is lower for higher loan amounts.
  • Relationship with the Bank: Axis Bank offers special rates, offers and charges to the existing account holders of the bank. Those who have made their payments on time in the past can benefit from a low gold loan interest rate from Axis Bank.
  • Loan tenure: Axis Bank offers gold loans for a tenure of 6 months to 24 months. The interest rate is higher for short tenure gold loans.
  • Loan to Value ratio: Maximum gold loan to value ratio on gold jewellery has been fixed at 75% by RBI. However, Axis Bank also offers loans at lower LTVs. The interest rate on loans with lower LTV will be lower compared to loans with higher LTV. The maximum LTV offered by Axis Bank is 75% calculated on the net weight of gold in your jewellery.
  • Purpose of Loan: All banks, including Axis Bank, also offer gold loans for agricultural purposes at low concessional rates, as the same is counted under priority sector lending targets of the bank. Axis Bank's gold loan interest rate for agricultural loans is generally lower by 1-2% compared to its gold loan rate for regular customers.

Axis Bank Gold Loan Charges

In addition to interest rates, Axis Bank also carries some other charges while offering gold loans which includes:

  • Processing fees – Axis Bank charges minimum processing fees of Upto 0.5%. To get the lowest fee, gold loan interest rates comparison, offers and Voucher apply online through MyLoanCare.
  • Prepayment and foreclosure – Banks allow prepayment of gold loans and typically levy prepayment or foreclosure charges i.e. Nil.
  • Stamping charges - Stamping charges are charged for the transference of ownership of tangible assets. The charges are as per the respective State's Stamp Act.

Axis Bank Gold Loan Schemes

Axis Bank offers several gold loan products to meet your various financial requirements. These include loans with different repayment options

  • Loan Against Gold Ornaments
    • Gold Loan with Bullet repayment option
      • Axis Bank offers a bullet repayment option for its gold loans. Under this, customers can pay the entire principal amount of the loan at the end of the tenure.
      • This results in lower monthly payments (consisting of only interest component) during the life of the loan, reducing the burden significantly.
      • This repayment option is more prevalent for gold loans of short tenures.
    • Gold Loan for Agriculture
      • Axis Bank offers this scheme for farmers wherein, loan is offered to them against gold ornaments in order to meet farming expenses.
      • Presenting a proof of farming activity and ownership of an agriculture land is mandatory.
      • The end use of the gold loan must be mentioned by the borrower.
    • Gold Loan with EMI option
      • Axis Bank offers the option to repay your loan in Equated Monthly Instalments (EMIs) for customers holding an account with the bank.
      • EMIs consist of interest and a component of the principal amount. With each EMI, the interest component reduces, and the principal component increases.

    FAQs

    Has Axis Bank reduced the interest rate on the gold loan?

    No, Axis Bank has increased its gold loan rates by upto 0.5%. The lowest rate on Axis Bank gold loans has been increased to 14.00% from the previous rate of 13.50%. Axis Bank new rates are effective from 09 May, 2022.

    How much gold loan can I avail from Axis Bank?

    You can get upto ₹ 20 Lakh as a gold loan from Axis Bank. However, the maximum loan amount depends on the value of the gold you pledge. Axis Bank funds upto 75% of the gold value as a loan.

    How can I check my Axis Bank gold loan status?

    You can check the loan status of the Axis Bank gold loan by visiting the website and logging in to the Axis Bank net banking. Once logged in, go to the track loan application in the loans section. If you have applied for a gold loan through the MyLoanCare website, log in to your MyLoanCare account, and the status of your loan will be shown on the homepage of your account. However, if you are concerned about the loan approval status, then in the case of a gold loan, the process of acceptance to disbursal is done within 24 hours.

    Is gold loan Axis Bank available online? Is there an Axis Bank gold loan online payment facility?

    Yes, you can apply for a gold loan online in Axis Bank to get a quick loan. Axis Bank offers a gold loan online payment facility. For online payments, you can use the netbanking facility. Apart you can also prompt automated payments of EMI from your regular savings or current account.

    Are there any prepayment charges on Axis Bank gold loan?

    Yes, you can prepay your jewel loan after paying prepayment charges. The applicable prepayment charges to foreclose the loan from Axis Bank are Nil. Before enclosing your gold loan in advance, ensure that foreclosure the of Axis Bank gold is beneficial in managing the financial burden and does not hamper your debt to income ratio.

    Does Axis Bank offer Agricultural Gold Loan?

    Yes, Axis Bank offers gold loans for agriculture at 1- 2% lower interest rates than gold loan rates. You can apply for a loan by visiting a bank branch or online by logging in to the website or with us at MyLoanCare. Agriculture gold loans can be used by agriculturists to fulfil irrigational or cultivation expenses.

    Does Axis Bank offer an additional discount on gold loan interest rates for women?

    No, Axis Bank offers the same gold loan interest rate to all the borrowers, they do not offer lower interest to women borrowers. However, the interest rate is lower for people who take loans for agricultural purposes.

    Can the Axis Bank gold loan interest rate be negotiated?

    Yes, the gold loan rate of Axis Bank can be negotiated. There are chances that banks will lower the interest rate if you already have an account with the bank or you have a stable source of income. Further, a larger loan amount can help you grab a gold loan at lower interest rates. You can check Gold loan per gram in SBI bank before you avail of loan.

    How long does it take to process Axis Bank Gold Loan?

    The gold loan can be disbursed quickly within a few hours. It takes around 90 to 120 minutes to process a loan. Further, the time to process a gold loan may also depend upon your eligibility and the quality of the pledged gold.

    What are the benefits for Axis Bank account holders while getting a Gold loan?

    Axis Bank account holders can avail a gold loan for a maximum of 75% of the value of the gold at the lowest rate starting at 14.00%. The bank also provides gold without any income proof and CIBIL requirements.

    What happens if the Axis Bank Bank gold loan is not paid?

    If you do not repay your Axis Bank Bank gold loan, you will have to pay a late payment penalty. Further, you may lose all your pledged gold if you skip your loan payment entirely. In addition, failure to repay your gold loan will also impact your credit score negatively.

    Will Axis Bank gold loan affect CIBIL score?

    Yes, if you default on repaying your Axis Bank gold loan EMI, it will affect your CIBIL negatively and similarly, paying the dues on time will improve your CIBIL.


    Axis Bank Gold Loan Reviews 4.4/5  by 4 customers
    MyLoanCare Service
    4.3/5.0
    Banks Service
    4.5/5.0
    srinivas manne, Hyderabad
    Reviewed on 17th Mar 2018
    5 / 5 stars
    Axis Bank Gold Loan Availed in Mar 2018

    MS VANDANA GAVE CLEAR GUIDANCE REGARDING LOAN AVAILABILITY. THANK U MADAM.Read more...

    anandrd D, Pune
    Reviewed on 23rd Feb 2018
    5 / 5 stars
    Axis Bank Gold Loan Availed in Feb 2018

    Very Good Service. Getting reply instantly and nice communication.Read more...

    Uma Iyer, Chennai
    5 / 5 stars
    Axis Bank Gold Loan Availed in Mar 17

    Good follow up by the helpful staff and assurance of fast and easy service process.Read more...

    Satyam Hora, Jaipur
    2.5 / 5 stars
    Axis Bank Gold Loan Availed in Dec-17

    Reasonable interest rates, they took long period to process the loan because of verification, despitRead more...

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    Axis Bank Gold Loan News - May 2022
    • 2022-05-09 : Axis Bank Hikes Gold Loan Interest Rates
      The bank has increased the lowest gold loan rates by 50 basis points from 13.50% to 14%.
    • 2022-04-29 : Axis Bank Net Profit Jumps to Rs 4,118 crore in March Quarter
      The bank has reported a 54 percent jump in its standalone net profit to Rs 4,117.77 crore from a net profit of Rs 2,677.06 crore in the year-ago period for the quarter ended March 2022.
    • 2022-03-28 : SEBI Imposes Rs 5 Lakh Penalty on Axis Bank
      The market regulator, SEBI, has imposed a penalty of 5 lakh on Axis Bank for violating merchant banking regulations. SEBI examined the Debt Capital Market operations of the bank between August 2016 and August 2019.
    • 2022-03-16 : Axis Bank Increases Gold Loan Interest Rates
      Axis Bank has revised Gold Loan rates, and as a result, the lowest interest rates start at 14% and goes up to 16.50%.
    • 2022-03-08 : Axis Bank to Acquire Retail Business of CitiBank
      Axis Bank is set to acquire the retail Business of CitiBank For Rs 20000 Crore, and the deal is expected to close this week.
    *Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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