IndusInd Bank Gold Loan

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IndusInd Bank Gold Loan Interest Rate Oct 2016

Last Updated 19th Oct 16

IndusInd Bank Gold Loan Interest Rate 13.50% - 15.50%
Repayment Options EMI Scheme, Bullet Repayment Scheme, Overdraft 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
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IndusInd Bank Gold Loan Interest Rate Calculator

IndusInd Bank offers gold loan to the customers who have urgent need of money. Gold loan to be offered by IndusInd Bank has many features like:
  • Instant loan processing and easy documentation
  • Extra benefits for existing Indusind Bank customers
  • Additional Discount for women borrowers and agriculturists

Gold Loan IndusInd Bank

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

IndusInd Bank Gold Loan Charges

IndusInd 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. IndusInd Bank allows prepayment of gold loan with Upto 1% of outstanding amount prepayment charges
IndusInd Bank Gold Loan processing fee- IndusInd Bank asks for a processing fee of Upto 1% of loan amount subject to a minimum of Rs. 750. with applicable service tax
Penal Interest- IndusInd Bank charges a penal interest of 2.00% per month if you don’t pay the EMI on the due date decided by the bank

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

IndusInd Bank Gold Loan Eligibility Calculator

Gold loan eligibility criteria IndusInd Bank

Eligibility of Gold loan in IndusInd 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: 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.
Estimated eligibility online by using Gold Loan Eligibility Calculator

Popular IndusInd Bank Gold Loan Products

IndusInd Bank offers you following gold loan schemes
  • Gold Loan for Personal Use

Gold Loan IndusInd Bank documents required

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

Frequently Asked Questions – IndusInd Bank Gold Loan

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

Compare IndusInd Bank Gold Loan

Comparison of IndusInd Bank Gold Loan with other banks

IndusInd Bank Gold Loan in India

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

Contact Details of IndusInd Bank Gold Loan Branches
City Customer Care Number
Agra 1860-500-5004/ 022-44066666,
Ahmedabad 1860-500-5004/ 022-44066666,
Ambala 1860-500-5004/ 022-44066666,
Anand 1860-500-5004/ 022-44066666,
Aurangabad 1860-500-5004/ 022-44066666,
Bangalore 1860-500-5004/ 022-44066666,
Bhilai 1860-500-5004/ 022-44066666,
Bhilwara 1860-500-5004/ 022-44066666,
Bhiwadi 1860-500-5004/ 022-44066666,
Bhopal 1860-500-5004/ 022-44066666,
Bhubaneswar Cuttack 1860-500-5004/ 022-44066666,
Bikaner 1860-500-5004/ 022-44066666,
Chandigarh 1860-500-5004/ 022-44066666,
Chennai 1860-500-5004/ 022-44066666,
Cochin 1860-500-5004/ 022-44066666,
Coimbatore 1860-500-5004/ 022-44066666,
Dehradun 1860-500-5004/ 022-44066666,
Delhi 1860-500-5004/ 022-44066666,
Durg 1860-500-5004/ 022-44066666,
Faridabad 1860-500-5004/ 022-44066666,
Gandhinagar 1860-500-5004/ 022-44066666,
Ghaziabad 1860-500-5004/ 022-44066666,
Goa 1860-500-5004/ 022-44066666,
Greater Noida 1860-500-5004/ 022-44066666,
Gurgaon 1860-500-5004/ 022-44066666,
Guwahati 1860-500-5004/ 022-44066666,
Gwalior 1860-500-5004/ 022-44066666,
Hyderabad 1860-500-5004/ 022-44066666,
Indore 1860-500-5004/ 022-44066666,
Jabalpur 1860-500-5004/ 022-44066666,
Jaipur 1860-500-5004/ 022-44066666,
Jalandhar 1860-500-5004/ 022-44066666,
Jodhpur 1860-500-5004/ 022-44066666,
Kanpur 1860-500-5004/ 022-44066666,
Karnal 1860-500-5004/ 022-44066666,
Kolhapur 1860-500-5004/ 022-44066666,
Kolkata 1860-500-5004/ 022-44066666,
Kota 1860-500-5004/ 022-44066666,
Kozhikode 1860-500-5004/ 022-44066666,
Lucknow 1860-500-5004/ 022-44066666,
Ludhiana 1860-500-5004/ 022-44066666,
Madurai 1860-500-5004/ 022-44066666,
Meerut 1860-500-5004/ 022-44066666,
Mehsana 1860-500-5004/ 022-44066666,
Mohali Sas Nagar 1860-500-5004/ 022-44066666,
Mumbai 1860-500-5004/ 022-44066666,
Mussoorie 1860-500-5004/ 022-44066666,
Nagpur 1860-500-5004/ 022-44066666,
Nashik 1860-500-5004/ 022-44066666,
Noida 1860-500-5004/ 022-44066666,
Noida Extn. 1860-500-5004/ 022-44066666,
Panipat 1860-500-5004/ 022-44066666,
Patna 1860-500-5004/ 022-44066666,
Pondicherry 1860-500-5004/ 022-44066666,
Pune 1860-500-5004/ 022-44066666,
Raipur 1860-500-5004/ 022-44066666,
Rajkot 1860-500-5004/ 022-44066666,
Ranchi 1860-500-5004/ 022-44066666,
Rohtak 1860-500-5004/ 022-44066666,
Roorkee 1860-500-5004/ 022-44066666,
Salem 1860-500-5004/ 022-44066666,
Shimla 1860-500-5004/ 022-44066666,
Sonepat 1860-500-5004/ 022-44066666,
Surat 1860-500-5004/ 022-44066666,
Trichy 1860-500-5004/ 022-44066666,
Udaipur 1860-500-5004/ 022-44066666,
Vadodara 1860-500-5004/ 022-44066666,
Varanasi 1860-500-5004/ 022-44066666,
Vijaywada 1860-500-5004/ 022-44066666,
Vizag 1860-500-5004/ 022-44066666,
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IndusInd Bank Gold Loan News - Oct 2016
26th Aug 16 IndusInd has reduced its 1 year MCLR from 26th August, 2016
IndusInd Bank has reduced its 1 year Marginal Cost of Fund Based Lending Rate (MCLR) by 15 basis point (bps) to 9.75 percent from 9.9 percent. The change are effective from 26th August, 2016. The interest rates of home loans that have been disbursed after 1st April 2016 are linked to 1 year MCLR. For borrowers who have taken a home loan from IndusInd Bank after 1st April 2016, the reduction in MCLR will translate into a reduction in their home loan rates and hence their interest outgo. However, if you have taken the home loan at fixed interest rate then your interest expense will remain unchanged.
24th Aug 16 IndusInd Bank ties up with IBM for improved customer engagement services
IndusInd Bank has tied up with IBM to use its cloud commerce solutions to convert customer arrangements and boost its cross-sell platforms. In an agreement of three years, IBM will provide a cloud and predictive analytics based multi-channel campaign managing solution that enables IndusInd Bank to build up its online banking presence while improving the product holding per customer. Using customer behavior analysis and real-time contextual advertising, banks can make sure that customers relating with the bank on any channel will receive relevant and timely communications.
12th Jul 16 IndusInd Bank Q1 net up 26% at Rs 661.38 cr
IndusInd Bank posted 26 per cent rise in net profit for the quarter ended June 30. The bank posted net profit of Rs 661.38 crore for the quarter, compared with Rs 525.04 crore in the corresponding quarter of the previous financial year. The bank would continue its focus on the digital medium. It launched its Finger Print mobile banking during this quarter.
11th Jul 16 IndusInd Bank reports a 26 percent increase in its Net Profit
As per the results for Q1FY17, IndusInd Bank reported 26 percent increase in Net Profit to Rs 661 crore. This was supported by a strong increase in its Net Interest Income. The Net Interest Income increased by 28 percent and the advances showed a growth of 30 percent year on year in June quarter. Asset quality weakened mildly in Q1FY17 as Gross NPAs increased to 0.91 percent of total advances, up from 0.87 percent as on March 2016 and the Net NPA stood at 0.38 percent in June quarter compared to 0.36 percent as on March 2016.
24th May 16 IndusInd Bank and Reliance General Insurance Tie up for Distribution of Insurance Products
IndusInd Bank has recently signed a Corporate Agency Agreement with Reliance General Insurance, with the objective to distribute multiple options of general insurance products to its customers. With this partnership, Reliance General Insurance has extended its distribution channels and will distribute its insurance products across all the branches of IndusInd Bank. This is the first tie-up on Bancassurance post the recent multi bank partner guidelines issued by IRDAI.