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Axis Bank Gold Loan Interest Rate

Axis Bank Gold Loan 2021

Last Updated 14th Jul 2021

Axis Bank Gold Loan Interest rate starts at 13.50% 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 13.50% 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 @ 9.50%* Get upto ₹ 500* Cashback

Axis Bank Gold Loan

Axis Bank gold loan can be availed by pledging your gold ornaments for meeting urgent personal expenses like children education, marriage and other financial emergencies in the family as well as for business purposes. The gold mortgaged acts as a security to the loan. Taking a loan from Axis Bank has the following benefits:

  • 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.

As on today, Axis Bank Gold loan interest rates are in the range of 13.50% to 16.95%. The lowest rate on Axis Bank gold loan increased by 1% to 13.50% as on 22 Jun, 2021.

Current Axis Bank Gold Loan Interest Rate

Axis Bank gold loan interest rate currently starts at 13.50% and goes up to 16.95%.The lowest interest was increased by 1% on 22 Jun, 2021. You can avail jewellery loan for any purpose for maximum tenure of 24 months Axis Bank offers a gold loan at lowest rates it is a secured loan and has multiple repayment options like 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 Rate starts from 13.50% to 16.95%
    • Axis Bank charges a processing fees of Upto 0.5%
    • Loan Tenure of Gold Loan ranges from 6 months to 24 months
    • 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
  • Documents Requirement: Only basic KYC documents for address proof and income proof required. The bank doesn’t require you to submit your income proof or doesn’t check your CIBIL score for approving a gold loan.
  • Popular Gold Loan Schemes of Axis Bank

Comparison of Axis Bank Gold Loan with other Banks

Axis Bank offers gold loans at affordable interest rates. However, you must analyze multiple banks and their offers before applying for a jewellery loan.

Particulars Axis Bank SBI HDFC Bank
Current Interest Rate 13.50% - 16.95% 7.30% - 7.50% 9.50% - 15.00%
Previous Lowest Interest Rate 9.75% 9.75% 9.75%
Lowest Rate Difference 3.75% -2.45% -0.25%
Processing Fees Upto 0.5% 0.50% of the loan amount, minimum-₹ 500 1% 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 ₹ 50 Lakh
Foreclosure Charges Nil Nil 1%
Repayment Options Y Y Y
Lowest EMI Per Lakh ₹ 4,778 per lakh ₹ 3,101 per lakh ₹ 4,591 per lakh

How can I get a Gold Loan from Axis Bank ?

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

  • However, 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 loan.
  • Customer representatives of the bank will get in touch with you instantly to fix up an appointment for 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. In case 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.

Documents Required for Axis Bank Gold Loan

The documentation process of Axis Bank is smooth. You need to submit one proof of identity and one proof of address to get a 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

Axis Bank Gold Loan Interest Rate Calculator

Lowest Gold Loan Interest Rate in Axis Bank is 13.50%. The factors that affect Axis Bank gold loan interest rate are loan amount, loan tenure and loan required as a percent of value of gold jewellery. Axis Bank’s existing account holders get a gold loan at best rates compared to other customers.

  • 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 loan between between ₹ 25,000 and₹ 20 Lakh.The Axis Bank gold loan interest rate 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 get the benefit of low gold loan interest rate from Axis Bank.
  • Loan tenure: Axis Bank offers gold loan 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. Interest rate on loans with lower LTV will be lower compared to loans with higher LTV. Maximum LTV offered by Axis Bank is 75% calculated on net weight of gold in your jewellery.
  • Purpose of Loan: All banks, including Axis Bank also offer gold loan 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 carry some other charges while offering gold loan which include:

  • Processing fees – Axis Bank charges minimum processing fees Upto 0.5%.To get the lowest fee, gold loan interest rates comparison, offers and cashback apply online through MyLoanCare.
  • Prepayment and foreclosure – Banks allow prepayment of gold loan 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 1%. The lowest rate on Axis Bank gold loan has been increased to 13.50% from 12.50% earlier. Axis Bank new rates are effective from 22 Jun, 2021.

    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 loan.

    How can I check my Axis Bank gold loan status?

    You can check the status of Axis Bank gold loan by visiting the website and log in to the Axis Bank net banking. Once logged in, go to the track loan application in the loans section. In case you have applied for a gold loan through MyLoanCare website, log in to your MyLoanCare account, the status of your loan will be shown on the home page 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 a 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 loan from Axis Bank are Nil .Before enclosing your gold loan in advance, ensure that foreclosure of Axis Bank gold is beneficial in managing financial burden and does not hamper your debt to income ratio.

    Does Axis Bank offer Agricultural Gold Loan?

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

    What is the procedure for a gold loan in Axis Bank ?

    To apply for a gold loan in Axis Bank visit the nearest bank branch or log in to the official website. Also, you can apply with MyLoanCare to get the best offers. Before applying ensure you meet the Axis Bank gold loan eligibility criteria and keep your documents handy. Most importantly, be informed of the purity check of your gold.

    Does Axis Bank offer additional on gold loan interest rate for women?

    No, Axis Bank offer 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 Axis Bank gold loan interest rate be negotiated?

    Yes, Axis Bank gold loan rate 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.

    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 loan. Further, it depends 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 can avail a gold loan for a maximum of 75% of the value of the gold at the lowest rate starting at 13.50%. The bank also provides gold loan without any income proof and CIBIL requirement.

    What happens if 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 of 2.00%. Further, you may loose all you pledged gold, if you skip your Axis Bank gold loan payment entirely. Also, even when cibil score is not a criteria to avail gold loan, yet, prepaying Axis Bank gold loan on time, can boost your credit score and vice versa.

    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 - Jul 2021
    • 2021-07-09 : Axis Bank Q1 Net Profit seen up 95.2% YoY to Rs. 2,171.1 crores
      Motilal Oswal has come out with its first-quarter earnings estimates for the Banks and Insurance sector. The brokerage house expects Axis Bank to report a net profit of Rs. 2,171.1 crores up 95.2% year-on-year on all products combined including Personal Loan, Home Loan, Loan Against Property, Two-wheeler Loan, Gold Loan, and Car Loan. Net Interest Income (NII) is expected to increase by 12.4% Y-o-Y to Rs. 7,851.8 crores.
    • 2021-02-26 : IRDAI gives approval for Axis Entities-Max Life Insurance deal
      The Insurance Regulatory and Development Authority of India has given its approval to acquire up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities. The IRDAI approval was an important venture transaction that was first announced in April 2020
    • 2021-01-28 : Axis Bank Q3 net profit down 36%
      Axis Bank reported a 36% drop in its net profit in the December quarter. Profit declined to Rs 1,116 crore from Rs 1,757 crore in the same period last year. Provisions in the quarter increased 33% to Rs 4,604 crore against Rs 3,470 crore in the year-ago period . Net interest income (NII), the difference between the interest earned and that paid on deposits which includes FD and RDs rose 14% to Rs 7,372.7 crore
    • 2020-10-30 : Axis Bank reported a net profit of ₹1,623 crores in Q2
      Axis Bank reported a net profit of ₹1,682.67 crores in the Q2 of FY21, as against a loss of ₹112 crores in the same period last year. The net interest income increased 20% y-o-y to ₹7,326 crore and its net interest margin (NIM) stood at 3.58%. Further, retail loans which include home, personal, gold, two-wheeler, gold and car loan grew 12% y-o-y to ₹3.05 trillion, accounting for 53% of the net advances of the bank.
    • 2020-07-02 : Axis Bank delivers strong loan growth
      Axis Bank reported a 4.53% year-on-year rise in profit, the profit reached at Rs 1,757 crore. Banks loan book grew backed by retail loan- car, two-wheeler, gold and personal loan- book grew 25% by almost Rs 28,500 crore on a quarterly basis and the domestic loan growth stood at 18%.
    *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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