HDFC Gold Loan Interest Rate

HDFC Bank Gold Loan Interest Rate Mar 2017

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Last Updated 09th Mar 2017
Interest Rate 11.00% - 13.00% Check Special Offer
Repayment Options EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Loan Tenure 6 months to 48 months
Minimum and Maximum Loan Amount Rs. 50,000 and Rs. 5,000,000
Processing Fee Option from Nil to upto 0.5%
Prepayment Charges Option from Nil to upto 1%
Penal Charges 0.16% per month
Apply Gold Loan Online @11.00%*
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HDFC Gold Loan

HDFC Gold Loan Interest Rate Calculator
HDFC Gold Loan Interest rate calculator works on various inputs like
  • Loan Amount – Generally banks offer lower interest rates for higher amount. However, HDFC offers loan between Rs. 50,000 and Rs. 5,000,000 amount.
  • Relationship with the Bank – HDFC Bank offers special rates, offers and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in past will get benefit of low gold loan interest rates from the bank.
  • Repayment Capacity – Before giving loan to the borrower, HDFC Bank checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has all the details of previous loans taken and their repayments. CIBIL also gives the information of credit card bills payment.
HDFC Gold Loan Eligibility Calculator
Eligibility of gold loan in HDFC relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • 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: HDFC Bank will value the jewelry based on price of 22 carat gold adjusted for purity. HDFC 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 HDFC 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 HDFC 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.
HDFC Gold Loan EMI Calculator
Gold Loan EMI of HDFC Bank is a fixed amount that you pay each month towards the repayment of your jewel loan. Lowest EMI offered by HDFC Bank is Rs. 2,585 per lakh loan amount. Gold loan EMI of HDFC Bank depends upon:
  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 48 months gold loan from HDFC Bank at interest rate of 11.00% per annum, EMI will be Rs. 2,585 per Rs. one lakh loan amount. At interest rate of 13.00% for the same loan, the EMI will be Rs. 2,683
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 11.00% per annum, the EMI would range from Rs. 17,205 to Rs. 2,585 for loan tenure ranging from 6 months to 48 months

Documents Required for HDFC Gold Loan

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

Compare Gold Loan Interest Rates of HDFC with other banks

Frequently Asked Questions

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

HDFC Bank offers you tenure of upto 48 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 - Option from Nil to upto 1%.

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

If you fail to repay the loan amount on due date, then you need to pay penal charges at 0.16% per month over and above contracted rate of interest. In case the loan is still not paid back, HDFC 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. 5,000,000 from HDFC Bank
HDFC Gold Loan News - Mar 2017
10th Mar 17 Cash against gold reduced to Rs. 25,000
Government of India has announced a new gold loan regulation for NBFCs and banks extending gold loans. Government has restricted the amount of cash against mortgaged gold to Rs. 25,000 which was Rs. 1 lakh earlier. As per the opinion of HDFC Bank official RBIs decision to reduce the amount of cash against gold is a step forward to meet the target of cashless economy.
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