Axis Gold Loan

Axis Bank Gold Loan Interest Rate Jan 2017

Last Updated 04th Nov 2016
Interest Rate 14.50% - 17.00%
Repayment Options EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Loan Tenure 6 months to 36 months
Minimum and Maximum Loan Amount Rs. 25,001 and Rs. 2,000,000
Processing Fee Upto 1% of loan amount
Prepayment Charges Nil
Penal Charges 2.00% per month
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Axis Bank Gold Loan Interest Rate Calculator

Axis Bank offers gold loan to the customers who have urgent need of money. Gold loan to be offered by Axis Bank has many features like:
  • Loan available for larger tenure of 36 months
  • Earn 150 Loyalty points on gold loans on disbursement of loan
  • No partpayment and foreclosure charges

Gold Loan Axis

Gold loan interest rates offered by Axis Bank are fixed as well as floating
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in Axis Bank benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in Axis Bank benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Axis Bank Gold Loan Rates depends upon
  • Loan amount: Gold loan rate in Axis Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate

Gold Loan Charges

Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Axis Bank allows prepayment of gold loan with Nil prepayment charges
Processing Fee- Axis Bank asks for a processing fee of Upto 1% of loan amount with applicable service tax
Penal Interest- Axis Bank charges a penal interest of 2.00% per month if you don’t pay the EMI on the due date decided by the bank

Axis Gold Loan EMI Calculator

Gold Loan EMI of Axis Bank is a fixed amount that you pay each month towards the repayment of your jewel loan. Lowest EMI offered by Axis Bank is Rs. 3,442 per lakh loan amount. Gold loan EMI of Axis Bank depends upon:
  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 36 months gold loan from Axis Bank at interest rate of 14.50% per annum, EMI will be Rs. 3,442 per Rs. one lakh loan amount. At interest rate of 17.00% for the same loan, the EMI will be Rs. 3,565
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 14.50% per annum, the EMI would range from Rs. 17,379 to Rs. 3,442 for loan tenure ranging from 6 months to 36 months

Axis Gold Loan Eligibility Calculator

Gold loan eligibility criteria Axis Bank

Eligibility of Gold loan in Axis Bank depends upon multiple factors:-
  • Quantity and quality of gold pledged: Gold loan eligibility depends upon the weight and assessment of purity of the gold jewelry that is being pledged. Gold ornaments karatage should be in the range of 18 to 24 karats. Both hallmarked jewellery and non hallmarked jewellery can be used for availing gold loan.
  • Gold loan rate per gram: Axis Bank will value the jewelry based on price of 22 carat gold adjusted for purity. Axis Bank use thirty days average rates of 22 carat gold prices. You can also check today gold rate at Myloancare.
  • Form of gold pledged: You can get gold loan from Axis Bank against jewelry or ornaments with a purity of 18 carats or more and specially minted gold coins with a weight of up to 50 grams. You will not be eligible for gold loan against gold bars, ETFs (exchange traded funds), specially minted coins of more than 50 grams and ladies mangal sutra.
  • Purpose for which loan is used: You can use the gold loan from Axis Bank for personal, business and agricultural purposes. However, you should not use gold loan for speculative purposes such as purchase of gold coins, jewels, land, and investment in stocks, futures and options.
Estimated eligibility online by using Gold Loan Eligibility Calculator

Popular Products

Axis Bank offers you following gold loan schemes
  • Loan Against Gold Ornaments

Gold Loan Axis documents required

The documentation process of Axis Bank is smooth. Here is a list of documents which are required to apply for home loan from Axis Bank:
  • Identity proof: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
  • Address proof: Aadhar Card, Voter’s ID Card bank statement, rent agreement, utility bills, registry copy

Frequently Asked Questions

What is the maximum loan tenure I can opt under Axis Bank jewel loan?

Axis Bank offers you tenure of upto 36 months to repay your gold loan.

Can I prepay my gold loan? What are the charges applicable?

Yes, you can prepay your gold loan. Applicable prepayment charges - Nil.

If I fail to repay the loan amount on time, what are the late payment charges on Axis Bank gold loan?

If you fail to repay the loan amount on due date, then you need to pay penal charges at 2.00% per month over and above contracted rate of interest. In case the loan is still not paid back, Axis Bank may dispose off the gold and recover its dues including principal, interest and penal charges.

What is the maximum gold loan amount available?

You can avail gold loan up to Rs. 2,000,000 from Axis Bank

Compare Axis Gold Loan

Axis Gold Loan in India

Axis Gold Loan News - Jan 2017
19th Jan 17 Axis Bank is likely to see a decline in its net profit during the third quarter of FY 17
Analysts at CNBC have forecasted a decline in net profit of Axis Bank during the third quarter ending 31st December, 2016. As per the polls, the bank is likely to see a fall of 63 percent in its net profit to Rs. 802 crore on a year on year basis. Axis Bank is scheduled to announce its Q3 results on 19th January, 2017.
14th Jan 17 Axis Bank cuts MCLR by up to 70 basis points
Axis Bank has reduced its overnight marginal cost of lending rate to 7.90 percent as compared to 8.55 percent earlier. The revised three month and six month MCLR now stands at 8.05 and 8.15 percent respectively. The bank has also reduced its one year MCLR by 65 basis points to 8.25 percent. The rates will be effective from 18th January, 2017.
29th Dec 16 Axis Bank helps a real estate firm in raising a term loan of Rs. 495 crores
Axis Bank has helped Vatika Group, a Gurgaon based leading real estate firm in raising a term loan of Rs. 495 crore to be utilised to achieve the growth targets of its hospitality arm. The company also intends to use a portion of the funds for expanding its business centres across the city.
19th Dec 16 Axis Bank reduces its MCLR by up to 15 basis points
Axis Bank has reduced its overnight marginal cost of lending rates by 10 basis points to 8.55 percent as compared to 8.65 percent earlier. The revised MCLR for six months and one year now stands at 8.85 and 8.90 percent respectively. The rates are effective from 17th December, 2016.
15th Dec 16 Axis Bank raises Rs. 3,500 crores via perpetual bonds
Axis Bank has raised Rs. 3,500 crores via perpetual bonds. The bonds can be redeemed after five years and carry a coupon rate of 8.75 percent. The bank intends to use the proceeds to increase its capital base and meet its growth targets. Axis Bank is the first private sector bank to raise funds through perpetual route.
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