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IndusInd Bank Gold Loan Interest Rate

IndusInd Bank Gold Loan 2021

Last Updated 12th Jul 2021

IndusInd Bank Gold Loan Interest rate starts at 11.50% with a loan tenure of 3 months to 24 months. IndusInd Bank jewel loans offer low interest with multiple repayment options including Bullet Repayment Scheme. IndusInd Bank also offers agriculture gold loans with interest rates lower than the rates for regular customers Check Best Offers.

IndusInd Bank Gold Loan Rate 11.50% onwards
Processing Fee Upto 1% of loan amount, minimum ₹ 750
Loan Tenure 3 months to 24 months
Loan Amount ₹ 10,000 to ₹ 10 Lakh
Prepayment Charges Upto 1% of outstanding amount
Gold Loan SchemeBullet Repayment Scheme

Additional benefits for existing Indusind Bank customers

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

IndusInd Bank Gold Loan

IndusInd 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 IndusInd Bank has the following benefits:

  • Instant loan processing and easy documentation
  • Extra benefits for existing Indusind Bank customers
  • Additional Discount for women borrowers and agriculturists

As on today, IndusInd Bank Gold loan interest rates are in the range of 11.50% to 16.00%. The lowest rate on IndusInd Bank gold loan increased by 1% to 11.50% as on 12 Jul, 2021.

Current IndusInd Bank Gold Loan Interest Rate

IndusInd Bank gold loan interest rate currently starts at 11.50% and goes up to 16.00%.The lowest interest was increased by 1% on 12 Jul, 2021. You can avail jewellery loan for any purpose for maximum tenure of 24 months IndusInd Bank offers a gold loan at lowest rates it is a secured loan and has multiple repayment options like gold loan Bullet Repayment Scheme.

IndusInd 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: IndusInd 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
    • IndusInd Bank Gold Loan Interest Rate starts from 11.50% to 16.00%
    • IndusInd Bank charges a processing fees of Upto 1% of loan amount, minimum ₹ 750
    • Loan Tenure of Gold Loan ranges from 3 months to 24 months
    • Lowest EMI per lakh on Gold Loan from IndusInd Bank is offered at the lowest gold loan interest rate and at the longest loan tenure .
    • IndusInd Bank allows prepayment of jewel loans with Upto 1% of outstanding amount 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.

Comparison of IndusInd Bank Gold Loan with other Banks

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

Particulars IndusInd Bank SBI HDFC Bank
Current Interest Rate 11.50% - 16.00% 7.30% - 7.50% 9.50% - 15.00%
Previous Lowest Interest Rate 10.00% 10.00% 10.00%
Lowest Rate Difference 1.5% -2.7% -0.5%
Processing Fees Upto 1% of loan amount, minimum ₹ 750 0.50% of the loan amount, minimum-₹ 500 1% of the loan amount
Loan Tenure 3 months to 24 months 3 months to 36 months 3 months to 24 months
Loan Amount ₹ 10,000 to ₹ 10 Lakh ₹ 20,000 to ₹ 50 Lakh ₹ 25,000 to ₹ 50 Lakh
Foreclosure Charges Upto 1% of outstanding amount Nil 1%
Repayment Options Y Y Y
Lowest EMI Per Lakh ₹ 4,684 per lakh ₹ 3,101 per lakh ₹ 4,591 per lakh

How can I get a Gold Loan from IndusInd Bank ?

You can apply for a gold loan with IndusInd 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 IndusInd 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 IndusInd Bank Gold Loan

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

IndusInd Bank Gold Loan Interest Rate Calculator

Lowest Gold Loan Interest Rate in IndusInd Bank is 11.50%. The factors that affect IndusInd Bank gold loan interest rate are loan amount, loan tenure and loan required as a percent of value of gold jewellery. IndusInd 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 IndusInd Bank depends on the weight of jewellery you can pledge with the bank. IndusInd 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 ₹ 10,000 and₹ 10 Lakh.The IndusInd Bank gold loan interest rate is lower for higher loan amounts.
  • Relationship with the Bank: IndusInd 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 IndusInd Bank.
  • Loan tenure: IndusInd Bank offers gold loan for a tenure of 3 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, IndusInd 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 IndusInd Bank is 75% calculated on net weight of gold in your jewellery.
  • Purpose of Loan: All banks, including IndusInd 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. IndusInd Bank's gold loan interest rate for agricultural loans is generally lower by 1-2% compared to its gold loan rate for regular customers.

IndusInd Bank Gold Loan Charges

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

  • Processing fees – IndusInd Bank charges minimum processing fees Upto 1% of loan amount, minimum ₹ 750.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. Upto 1% of outstanding amount.
  • 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.

FAQs

Has IndusInd Bank reduced the interest rate on the gold loan?

No, IndusInd Bank has increased its gold loan rates by upto 1%. The lowest rate on IndusInd Bank gold loan has been increased to 11.50% from 10.50% earlier. IndusInd Bank new rates are effective from 12 Jul, 2021.

How much gold loan can I avail from IndusInd Bank?

You can get upto ₹ 10 Lakh as a gold loan from IndusInd Bank. However, the maximum loan amount depends on the value of the gold you pledge. IndusInd Bank funds upto 75% of the gold value as loan.

How can I check my IndusInd Bank gold loan status?

You can check the status of IndusInd Bank gold loan by visiting the website and log in to the IndusInd 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 IndusInd Bank available online? Is there a IndusInd Bank gold loan online payment facility?

Yes, you can apply for a gold loan online in IndusInd Bank to get a quick loan. IndusInd 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 IndusInd Bank gold loan?

Yes, you can prepay your jewel loan after paying prepayment charges. The applicable prepayment charges to foreclose loan from IndusInd Bank are Upto 1% of outstanding amount .Before enclosing your gold loan in advance, ensure that foreclosure of IndusInd Bank gold is beneficial in managing financial burden and does not hamper your debt to income ratio.

Does IndusInd Bank offer Agricultural Gold Loan?

No, IndusInd 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.

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

To apply for a gold loan in IndusInd 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 IndusInd Bank gold loan eligibility criteria and keep your documents handy. Most importantly, be informed of the purity check of your gold.

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

No, IndusInd 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 IndusInd Bank gold loan interest rate be negotiated?

Yes, IndusInd 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 IndusInd 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 IndusInd Bank account holders while getting a Gold loan?

IndusInd Bank account can avail a gold loan for a maximum of 75% of the value of the gold at the lowest rate starting at 11.50%. The bank also provides gold loan without any income proof and CIBIL requirement.

What happens if IndusInd Bank Bank gold loan is not paid?

If you do not repay your IndusInd 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 IndusInd Bank gold loan payment entirely. Also, even when cibil score is not a criteria to avail gold loan, yet, prepaying IndusInd Bank gold loan on time, can boost your credit score and vice versa.

Will IndusInd Bank gold loan affect CIBIL score?

Yes, if you default on repaying your IndusInd Bank gold loan EMI, it will affect your CIBIL negatively and similarly, paying the dues on time will improve your CIBIL.


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IndusInd Bank Gold Loan News - Jul 2021
  • 2021-02-26 : IndusInd Bank to grow loan book by 15-18%
    IndusInd Bank is expecting to grow its loan portfolio by 15-18% year-on-year for the next two financial years under its fifth planning cycle.The Bank’s year-on-year growth in advances which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan was flat at Rs 2.07 trillion until December 2020. Its deposits which include fixed and recurring deposits, grew by 10% to Rs 2.39 trillion.
  • 2021-01-08 : IndusInd Bank reported 11% growth in Q3 deposits
    IndusInd Bank posted a 3.2% quarter-on-quarter growth in the net advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans in the December quarter. Further, the bank also posted a 5% quarterly growth in deposits which includes fixed and recurring deposits.
  • 2020-07-29 : IndusInd Bank reported a Q1 profit before tax of Rs 602.45 crore
    IndusInd Bank registered a 67.8% fall in Q1FY21 net profit on the back of a five-fold increase in provisions for bad loans. Net interest income backed by a home, personal, gold, car and two-wheeler loans along with business and mudra loans grew by 16.4% year-on-year to Rs 3,309.2 crore in the quarter ended June 2020. Further, the gross bad asset ratio spiked to 2.53 per cent from 2.45 per cent in the March quarter and 2.15 per cent in the June quarter last year.
  • 2020-06-09 : IndusInd Bank profits dip
    IndusInd Bank reported profits of ₹301.84 crores for the three months to March, down 16% on a year-on-year (y-o-y) basis, owing to rise in provisions. Its net interest income stood at ₹3,231.19 crores which were aided by a home, personal, gold, car and two-wheeler loans along with business and mudra loans grew by 44.74% from the same period last year.
*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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