Federal Gold Loan

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Federal Bank Gold Loan Interest Rate Oct 2016

Last Updated 18th Oct 16

Federal Bank Gold Loan Interest Rate 11.75% - 13.50%
Repayment Options EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Loan Tenure 6 months to 12 months
Minimum and Maximum Loan Amount Rs. 1,000 and Rs. 7,500,000
Processing Fee Nil
Prepayment Charges Nil
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Federal Bank Gold Loan Interest Rate Calculator

Federal Bank offers gold loan to the customers who have urgent need of money. Gold loan to be offered by Federal Bank has many features like:
  • Overdraft facility available
  • Free insurance cover and secured credit card
  • Interest charged only on the amount used

Gold Loan Federal

Federal Bank Gold loan interest rate is the rate which you pay over the loan amount that you have borrowed from Federal Bank. Gold loan interest rates offered by Federal 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 Federal 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 Federal Bank benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Federal Bank Gold Loan Rates depends upon
  • Federal Bank gold loan amount: Gold loan rate in Federal Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate

Federal Bank Gold Loan Charges

Federal Bank Gold Loan foreclosure charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Federal Bank allows prepayment of gold loan with Nil prepayment charges
Federal Bank Gold Loan processing fee- Federal Bank asks for a processing fee of Nil with applicable service tax
Penal Interest- Federal Bank charges a penal interest of 0.00% per month if you don’t pay the EMI on the due date decided by the bank

Federal Gold Loan EMI Calculator

Gold Loan EMI of Federal Bank is a fixed amount that you pay each month towards the repayment of your jewel loan. Lowest EMI offered by Federal Bank is Rs. 8,873 per lakh loan amount. Gold loan EMI of Federal Bank depends upon:
  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 12 months gold loan from Federal Bank at interest rate of 11.75% per annum, EMI will be Rs. 8,873 per Rs. one lakh loan amount. At interest rate of 13.50% for the same loan, the EMI will be Rs. 8,955
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 11.75% per annum, the EMI would range from Rs. 17,242 to Rs. 8,873 for loan tenure ranging from 6 months to 12 months

Federal Gold Loan Eligibility Calculator

Gold loan eligibility criteria Federal Bank

Eligibility of Gold loan in Federal 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: Federal Bank will value the jewelry based on price of 22 carat gold adjusted for purity. Federal 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 Federal 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 Federal 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 Federal Gold Loan Products

Federal Bank offers you following gold loan schemes
  • Federal Special Gold Loan
  • Kisan Gold Scheme
  • Apna Gold 24 X 7
  • Fedral Gold Loan

Gold Loan Federal documents required

The documentation process of Federal Bank is smooth. Here is a list of documents which are required to apply for home loan from Federal 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 – Federal Gold Loan

What is the maximum loan tenure I can opt under Federal Bank gold loan?

Federal Bank offers you tenure of upto 12 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.

What is the maximum gold loan amount available?

You can avail gold loan up to Rs. 7,500,000 from Federal Bank

Compare Federal Gold Loan

Comparison of Federal Bank Gold Loan with other banks

Federal Gold Loan in India

Federal Bank Gold Loan Customer Care Number, Email, Application Status

Contact Details of Federal Bank Gold Loan Branches
City Customer Care Number
Agra 1800-425-1199 Or 1800-420-1199
Ahmedabad 1801-425-1199 Or 1800-420-1199
Ambala 1802-425-1199 Or 1800-420-1199
Anand 1803-425-1199 or 1800-420-1199
Aurangabad 1804-425-1199 or 1800-420-1199
Bangalore 1805-425-1199 or 1800-420-1199
Bhilai 1806-425-1199 or 1800-420-1199
Bhilwara 1807-425-1199 or 1800-420-1199
Bhiwadi 1808-425-1199 or 1800-420-1199
Bhopal 1809-425-1199 or 1800-420-1199
Bhubaneswar Cuttack 1810-425-1199 or 1800-420-1199
Bikaner 1811-425-1199 or 1800-420-1199
Chandigarh 1812-425-1199 or 1800-420-1199
Chennai 1813-425-1199 or 1800-420-1199
Cochin 1814-425-1199 or 1800-420-1199
Coimbatore 1815-425-1199 or 1800-420-199
Dehradun 1816-425-1199 or 1800-420-199
Delhi 1817-425-1199 or 1800-420-199
Durg 1818-425-1199 or 1800-420-199
Faridabad 1819-425-1199 or 1800-420-199
Gandhinagar 1820-425-1199 or 1800-420-1199
Ghaziabad 1821-425-1199 or 1800-420-1199
Goa 1822-425-1199 or 1800-420-1199
Greater Noida 1823-425-1199 or 1800-420-1199
Gurgaon 1824-425-1199 or 1800-420-1199
Guwahati 1825-425-1199 or 1800-420-1199
Gwalior 1826-425-1199 or 1800-420-1199
Hyderabad 1827-425-1199 or 1800-420-1199
Indore 1828-425-1199 or 1800-420-1199
Jabalpur 1829-425-1199 or 1800-420-1199
Jaipur 1830-425-1199 or 1800-420-1199
Jalandhar 1831-425-1199 or 1800-420-1199
Jodhpur 1832-425-1199 or 1800-420-1199
Kanpur 1833-425-1199 or 1800-420-1199
Karnal 1834-425-1199 or 1800-420-1199
Kolhapur 1835-425-1199 or 1800-420-1199
Kolkata 1836-425-1199 or 1800-420-1199
Kota 1837-425-1199 or 1800-420-1199
Kozhikode 1838-425-1199 or 1800-420-1199
Lucknow 1839-425-1199 or 1800-420-1199
Ludhiana 1840-425-1199 or 1800-420-1199
Madurai 1841-425-1199 or 1800-420-1199
Meerut 1842-425-1199 or 1800-420-1199
Mehsana 1843-425-1199 or 1800-420-1199
Mohali Sas Nagar 1844 - 425 - 1199 or 1800 - 420 - 1199
Mumbai 1845-425-1199 or 1800-4201199
Mussoorie 1846-425-1199 or 1800-420-1199
Nagpur 1847-425-1199 or 1800-420-1199
Nashik 1848-425-1199 or 1800-420-1199
Noida 1849-425-1199 or 1800-420-1199
Noida Extn. 1850-425-1199 or 1800-420-1199
Panipat 1851-425-1199 or 1800-420-1199
Patna 1852-425-1199 or 1800-420-1199
Pondicherry 1853-425-1199 or 1800-420-1199
Pune 1854-425-1199 or 1800-420-1199
Raipur 1855-425-1199 or 1800-420-1199
Rajkot 1856-425-1199 or 1800-420-1199
Ranchi 1857-425-1199 or 1800-420-1199
Rohtak 1858-425-1199 or 1800-420-1199
Roorkee 1859-425-1199 or 1800-420-1199
Salem 1860-425-1199 or 1800-420-1199
Shimla 1861-425-1199 or 1800-420-1199
Sonepat 1862-425-1199 or 1800-420-1199
Surat 1863-425-1199 or 1800-420-1199
Trichy 1864-425-1199 or 1800-420-1199
Udaipur 1865-425-1199 or 1800-420-1199
Vadodara 1866-425-1199 or 1800-420-1199
Varanasi 1867-425-1199 or 1800-420-1199
Vijaywada 1868-425-1199 or 1800-420-1199
Vizag 1869-425-1199 or 1800-420-1199
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
Federal Gold Loan News - Oct 2016
19th Aug 16 Federal Bank starts new referral option in its mobile banking app
Federal Bank has come with a reward program to its customers who refer FedMobile to friends or relatives. FedMobile is a transaction app of Federal Bank. Now customers can share the app link with the friends by clicking Refer A Friend option given in the FedMobile app home page. This message can be shared using Whatsapp, mail, Facebook etc without any cost. Customer who referred will get Rs. 50 when the referred friend does his first transaction from the app. This app can be used for availing banking facilities, bill payments, Funds Transfer and also for making future payments in advance.
19th Aug 16 Federal Bank ties up with Chillr
Federal Bank has partnered with Chillr which is a mobile banking application that connects a person directly to its bank account and enables to make bill payments, transfer money and phone recharge. This facility will help customers to do cashless transactions at any time and manage their banking requirements at a single stage. Customer can initiate their transactions on Chillr with total security authenticated by a secure PIN provided by the bank. The app is available to all the customers of Federal Bank.
18th Aug 16 Federal Bank has tied up with MMTC for disbursement of Indian gold Coins
Federal Bank entered into partnership with MMTC to allow its customers to buy Indian Gold coins, that are a part of National Gold scheme launched by government in November 2015
22nd Jul 16 Federal Bank Q1 net grows 18% to Rs 167 crore
As per the results of Q1FY17 , Federal Bank reported a 18.3 percent increase in its Net Profit at Rs. 167.3 crore. Asset quality was stable in the current quarter, with Gross NPAs ratio of 2.92 percent in first quarter of FY17 compared to 2.59 percent as on FY16. Net NPAs increased by 0.98 percent to 1.68 percent in the June quarter when compared on yearly basis. Asset quality showed mild signs of weakening with Provisions for Bad Loans increasing by 10 percent yoy to Rs 168.48 crore
21st Jul 16 Federal Bank ties up with Reliance Jio Money
Federal bank has tied up with Reliance Jio Money to launch an one click payment service. Reliance Jio money is a mobile wallet application which will allow Federal bank customers to get an option to pay directly from their account without funding the wallet. The user does not need to maintain cash in the wallet and can complete transaction from their account in just one click.