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Fincare Bank Gold Loan Interest Rate

Fincare Small Finance Bank Gold Loan Interest Rates Jun 2021

Last Updated 24th May 2021

Fincare Small Finance Bank offers one of lowest gold loan rate of 10.99% , both for its existing bank customers as well as new borrowers. Fincare Bank jewel loan interest rate varies by amount of loan, purity of gold and loan to value ratio. Check Best Offers.

Gold Loan in Fincare Bank
Fincare Bank Gold Loan Rate 10.99% onwards
Processing Fee Upto 0.5%
Loan Tenure 3 Months to 9 Months
Loan Amount ₹ 10,000 to ₹ 40 Lakh
Prepayment Charges NIL
Gold Loan SchemeEMI Scheme, Bullet Repayment Scheme

With Fincare you can avail upto 90% of the value of gold.

Apply for Gold Loan @ 9.50%* Get upto ₹ 500* Cashback

Fincare Bank Gold Loan

Gold Loans are loans availed by pledging your gold ornaments with a bank. Fincare Bank gold loan can be taken 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 Fincare Bank has the following benefits:

Fincare Bank offers the lowest interest rate on loan against gold effective from 24 May, 2021. Fincare Bank has reduced gold loan rates, a drop of 2% from the earlier lowest rate of 12.99%. Currently, Fincare Bank offers the lowest gold loan starting at 10.99%.

Fincare Small Finance Bank Gold Loan Details

If you are planning to take a Loan against Gold from Fincare Small Finance Bank, you need to know the following details of its gold loan schemes:

  • Purpose of Gold loan: To meet personal and business expense requirements
  • Collateral: Loan against security of your gold jewelry
  • Type of Gold Accepted: Gold jewelry of up to 50 grams with a purity of 18 to 22 carat
  • Customer Segments: Fincare 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
    • Fincare Small Finance Bank Gold Loan Interest Rate starts from 10.99% to 24.99%
    • Fincare Small Finance Bank charges a processing fees of Upto 0.5%
    • Loan Tenure of Gold Loan ranges from 3 Months to 9 Months
    • Lowest EMI per lakh on Gold Loan from Fincare Small Finance Bank is offered at the lowest gold loan interest rate of 10.99% at the longest loan tenure of 9 Months
    • Fincare 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 Fincare Bank
    • EMI Scheme
    • Bullet Repayment Scheme

Comparison of Fincare Small Finance Bank Gold Loan with other Banks

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

Particulars Fincare Small Finance Bank SBI HDFC Bank
Current Interest Rate 10.99% - 24.99% 7.50% - 7.50% 9.50% - 15.00%
Previous Lowest Interest Rate 0.00% 0.00% 0.00%
Lowest Rate Difference 10.99% 7.5% 9.5%
Processing Fees Upto 0.5% 0.50% of the loan amount, minimum-₹ 500 1% of the loan amount
Loan Tenure 3 Months to 9 Months 3 months to 36 months 3 months to 24 months
Loan Amount ₹ 10,000 to ₹ 40 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 ₹ 11,626 per lakh ₹ 3,111 per lakh ₹ 4,591 per lakh

How can I get a Gold Loan from Fincare Bank ?

You can apply for a gold loan with Fincare Small Finance 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 bank will get in touch with you instantly to fix up an appointment for branch visit. You will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting loan is smooth, convenient and quick. You can get gold loan in a single branch visit during which Fincare Small Finance Bank will do an appraisal of your jewellery in terms of its purity and weight. In case, the jewelry meets the bank standards, the bank will sanction your loan and give you an instant loan against the security of your gold jewelry.

Fincare Bank Gold Loan Interest Rate Calculator

Lowest Gold Loan Interest Rate in Fincare Small Finance Bank is 10.99%.The factors that are used by Fincare Small Finance Bank to calculate interest on gold loan are loan amount, loan tenure and loan required as a percent of value of gold jewelry. Fincare Small Finance Bank’s existing account holders get gold loan at best rates compared to other customers.

  • Loan Amount: The amount of gold loan you avail depends on the weight of jewelry you can pledge with the bank. Generally, banks offer a jewel loan per gram of gold which differs by the purity of gold and loan to value ratio offered. Banks offer lower interest rates for higher amount. Fincare Small Finance Bank offers loan between ₹ 10,000 and ₹ 40 Lakh amount.
  • Relationship with the Bank: Fincare Small Finance 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 Fincare Small Finance Bank.
  • Loan tenure: Many banks charge higher rate of interest for gold loans of lower tenure and lower interest rate for gold loans of higher tenure. Fincare Small Finance Bank offers gold loan with a tenure of 3 Months to 9 Months.
  • Loan to Value ratio: Maximum gold loan to value of gold jewelery ratio on gold jewelry has been fixed at 90% by RBI. However, Fincare Small Finance 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 Fincare Small Finance Bank is 90% calculated on net weight of gold in your jewelry.
  • Purpose of Loan: All banks, including Fincare Small Finance 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. Fincare Bank's gold loan interest rate for agricultural loans is generally lower by 1-2% compared to its gold loan rate for regular customers.

Other Charges of Gold Loan Fincare Small Finance Bank

In addition to interest rates, Fincare Small Finance Bank also carry some other charges while offering gold loan which include:

  • Processing fees – Fincare Small Finance Bank charges minimum processing fees 1% of the loan amount. To get lowest fee, gold loan interest rates comparison, offers and cashback apply online through MyLoanCare.
  • Prepayment and foreclosure – Banks allows prepayment of gold loan and typically levy prepayment or foreclosure charges i.e. NIL.

Documents Required for Fincare Small Finance Bank Gold Loan

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


Has Fincare Small Finance Bank reduced the interest rate on the gold loan?

Yes, Fincare Small Finance Bank has reduced the lowest interest on gold loan as effective from 24 May, 2021. Presently, Fincare Small Finance Bank offers gold loans starting at 10.99%, which is a decrease of 2% from the previous rates of 12.99%.

How much gold loan can I avail from Fincare Small Finance Bank?

You can get upto ₹ 40 Lakh as gold loan from Fincare Small Finance Bank.

How can I check my Fincare Small Finance Bank gold loan status?

You can log in to your MyLoanCare account, the status of your loan will be shown on the home page of your account. Alternatively, you can also check your gold loan status by logging into the net banking account that received at the time of availing the loan. However, if you are concerned about the loan approval status, then in case of a gold loan, the process of acceptance to disbursal is done within 24 hours.

Is gold loan Fincare Small Finance Bank available online? Is there a Fincare Small Finance Bank gold loan online payment facility?

Yes, you can apply gold loan online in Fincare Small Finance Bank to get a quick loan. Yes, Fincare Small Finance Bank offers gold loan online payment facility.

Are there any prepayment charges on gold loan?

Yes, you can prepay your jewel loan. Applicable prepayment charges - NIL.

Does Fincare Small Finance Bank offer Agricultural Gold Loan?

No, Fincare Small Finance Bank does not offer any special gold loan scheme for agriculture. You will need to avail loan against gold against the bank’s regular gold loan scheme, even if you need it for agricultural purposes.

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Fincare Bank Gold Loan News - Jun 2021
  • 2021-03-09 : Fincare expecting 10-20% growth in 2020-2021
    Despite the pandemic, Fincare Small Finance is expecting a 10% -20% growth in 2020-2021. The Small finance bank serves over 25.6 lakh customers in 19 states/territory with a workforce of 7,910 people.The size of the deposits is around Rs 5, 200 crore and the loan asset size is around Rs 5, 400 crore.
*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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