IndusInd Bank Gold Loan Interest Rate

IndusInd Bank Gold Loan Interest Rate Mar 2017

Last Updated 24th Mar 2017
Interest Rate 13.50% - 15.50% Check Special Offer
Repayment Options Bullet Repayment Scheme
Loan Tenure 3 months to 12 months
Minimum and Maximum Loan Amount Rs. 10,000 and Rs. 1,000,000
Processing Fee Upto 1% of loan amount subject to a minimum of Rs. 750.
Prepayment Charges Upto 1% of outstanding amount
Penal Charges 2.00% per month
Apply Gold Loan Online @11.00%*
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IndusInd Bank Gold Loan

IndusInd Bank Gold Loan Interest Rate Calculator
IndusInd Bank Gold Loan Interest rate calculator works on various inputs like
  • Loan Amount – Generally banks offer lower interest rates for higher amount. However, IndusInd Bank offers loan between Rs. 10,000 and Rs. 1,000,000 amount.
  • Relationship with the Bank – IndusInd 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, IndusInd 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.
IndusInd Bank Gold Loan Eligibility Calculator
Eligibility of gold loan in IndusInd Bank 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: IndusInd Bank will value the jewelry based on price of 22 carat gold adjusted for purity. IndusInd 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 IndusInd 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 IndusInd 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.
IndusInd Bank Gold Loan EMI Calculator
Gold Loan EMI of IndusInd Bank is a fixed amount that you pay each month towards the repayment of your jewel loan. Lowest EMI offered by IndusInd Bank is Rs. 8,955 per lakh loan amount. Gold loan EMI of IndusInd Bank depends upon:
  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 12 months gold loan from IndusInd Bank at interest rate of 13.50% per annum, EMI will be Rs. 8,955 per Rs. one lakh loan amount. At interest rate of 15.50% for the same loan, the EMI will be Rs. 9,049
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 13.50% per annum, the EMI would range from Rs. 34,086 to Rs. 8,955 for loan tenure ranging from 3 months to 12 months

Documents Required for IndusInd Bank Gold Loan

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

Frequently Asked Questions

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

IndusInd 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 - Upto 1% of outstanding amount.

If I fail to repay the loan amount on time, what are the late payment charges on IndusInd 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, IndusInd 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. 1,000,000 from IndusInd Bank
IndusInd Bank Gold Loan News - Mar 2017
20th Mar 17 ICICI Bank launches Mera iMobile app for rural customers
ICICI Bank has announced the launch of its mobile app named Mera iMobile. This is an exclusive mobile banking app for rural customers that will help them to access banking services as well as agri services. Banking services will offer customers gold loan, Kisan credit card, farm equipment loan and loan to self-help groups. It is the first banking app offering agriculture associated information. The app will be available in English and 11 different Indian languages.
18th Mar 17 Manappuram Finance plans to sell stake, stock rises by 2 percent
Promoter of the gold loan NBFC, Manappuram Finance is planning to sell his stake in the company from its current stake holding of 28.2 per cent. The news resulted in a rise in the stock price of the gold loan NBFC by 2 percent at Rs. 95 per share.
17th Mar 17 Manappuram Finance launches new ad campaign with Maxus for Online Gold Loan
Manappuram Finance has launched a new ad campaign with an ad agency named Maxus to promote its newly launched gold loan product, Online Gold Loan. The ad campaign highlights the utility of Manappuram Finance gold loan products in terms of providing easy liquidity and convenience to its customers to be able to lead a contemporary lifestyle. The Online Gold Loan allows the customers to avail gold loans via the company’s mobile app.
17th Mar 17 Muthoot Finance to raise Rs. 2,000 crore via NCDs
Muthoot Finance is planning to raise funds worth Rs. 2,000 crore via non convertible debentures through a public issue. The leading Gold Loan NBFC expects to utilise the funds for lending activities and other business purposes. The issue is being managed by Edelweiss Financial Services and AK Capital Services.
16th Mar 17 Manappuram Finance launches online gold loan
Manappuram Finance has launched a new gold loan campaign Online Gold Loan (OGL) for gold loan borrowers. Consumers can easily get gold loan via internet or Smart Mobile App of the gold NBFC after completing the required physical loan process. Under the scheme, all transactions including approval additional gold loans and repayment of interest and loans can be conducted online.
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