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IndusInd Bank Gold Loan Interest Rate

IndusInd Bank Gold Loan: Details 2022

Last Updated 03rd May 2022

IndusInd Bank Gold Loan Interest rate starts at 9.00% 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 9.00% 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 @ 9.00%* Get upto ₹ 500* Voucher

IndusInd Bank Gold Loan

You can avail IndusInd Bank gold loan by pledging your gold ornaments for meeting urgent personal expenses like children's education, marriage and other financial emergencies in family or business. The gold mortgaged acts as a security to the loan. You can avail following benefits by availing gold loan in IndusInd Bank bank:

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

Current IndusInd Bank Gold Loan Interest Rate

IndusInd Bank gold loan interest rate currently starts at 9.00% from the previous rate of 10.00%. The lowest gold loan rate of interest in IndusInd Bank was decreased by 1% on 06 Apr, 2022. You can avail jewellery loans for any purpose for a maximum tenure of 24 months. IndusInd Bank offers a gold loan at the cheapest rates as it is a secured loan and has multiple repayment options like the 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 rates starts from 9.00% to 17.00%
    • IndusInd Bank charges a processing fee of Upto 1% of loan amount, minimum ₹ 750
    • Loan Tenure of Gold Loan ranges from 3 months to 24 months
    • The 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 Required for IndusInd Bank Gold Loan

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

Comparison of IndusInd Bank Gold Loan Interest Rates and Other Charges with Top Banks

Gold loan interest rates in IndusInd Bank are very affordable. However, you must analyze multiple banks and their offers before applying for a jewellery loan.

Particulars IndusInd Bank SBI HDFC Bank
Current Interest Rate 9.00% - 17.00% 7.40% - 7.40% 9.00% - 15.00%
Previous Lowest Interest Rate 10.00% 10.00% 10.00%
Lowest Rate Difference -1% -2.6% -1%
Processing Fees Upto 1% of loan amount, minimum ₹ 750 0.25% of the loan amount, minimum-₹ 500 0.50% 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 ₹ 10 Lakh
Foreclosure Charges Upto 1% of outstanding amount Nil Zero prepayment charges post 6 months
Repayment Options Y Y Y
Lowest EMI Per Lakh ₹ 4,568 per lakh ₹ 3,106 per lakh ₹ 4,568 per lakh

How Can I Get a Gold Loan from IndusInd Bank at the Best Interest Rates?

You can apply for a gold loan with IndusInd Bank directly through branch walk-in or by filling an online application form.

  • 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 loans.
  • Customer representatives of the bank will instantly contact you to fix up an appointment for a 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. If 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.

IndusInd Bank Gold Loan Interest Rate Calculator

Lowest Gold Loan Interest Rate in IndusInd Bank is 9.00%. The factors that affect the IndusInd Bank gold loan interest rate are loan amount, loan tenure and loan required as a percent of the value of gold jewellery. IndusInd Bank’s existing account holders get a gold loan at the best rates compared to other customers. You can use the IndusInd Bank gold loan interest rate calculator to calculate EMI on gold loans at the lowest rates.

  • 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 loans between ₹ 10,000 and ₹ 10 Lakh. The gold loan interest rate IndusInd Bank 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 benefit from a low gold loan interest rate from IndusInd Bank.
  • Loan tenure: IndusInd Bank offers gold loans 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. The interest rate on loans with lower LTV will be lower compared to loans with higher LTV. The maximum LTV offered by IndusInd Bank is 75% calculated on the net weight of gold in your jewellery.
  • Purpose of Loan: All banks, including IndusInd Bank, also offer gold loans 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 carries some other charges while offering gold loans which includes:

  • Processing fees – IndusInd Bank charges minimum processing fees of Upto 1% of loan amount, minimum ₹ 750. To get the lowest fee, gold loan interest rates comparison, offers and Voucher apply online through MyLoanCare.
  • Prepayment and foreclosure – Banks allow prepayment of gold loans 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.

Compare Gold Loan Interest Rates of IndusInd Bank with other banks

FAQs

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

Yes, IndusInd Bank has reduced the lowest interest on gold loans as effective from 06 Apr, 2022. Presently, IndusInd Bank offers gold loans starting at 9.00%, which is a decrease of 1% from the previous rates of 10.00%.

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 a loan.

How can I check my IndusInd Bank gold loan status?

You can check the loan status of the IndusInd Bank gold loan by visiting the website and logging in to the IndusInd Bank net banking. Once logged in, go to the track loan application in the loans section. If you have applied for a gold loan through the MyLoanCare website, log in to your MyLoanCare account, and the status of your loan will be shown on the homepage 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 an 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 the loan from IndusInd Bank are Upto 1% of outstanding amount. Before enclosing your gold loan in advance, ensure that foreclosure the of IndusInd Bank gold is beneficial in managing the 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.

Does IndusInd Bank offer an additional discount on gold loan interest rates for women?

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

Yes, the gold loan rate of IndusInd Bank 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. You can check Gold loan per gram in SBI bank before you avail of loan.

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 a loan. Further, the time to process a gold loan may also depend 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 holders can avail a gold loan for a maximum of 75% of the value of the gold at the lowest rate starting at 9.00%. The bank also provides gold without any income proof and CIBIL requirements.

What happens if the 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. Further, you may lose all your pledged gold if you skip your loan payment entirely. In addition, failure to repay your gold loan will also impact your credit score negatively.

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 - May 2022
  • 2021-10-20 : IndusInd Bank Cut Gold Loan Rates
    IndusInd Bank has decreased gold loan rates from 11.50% to 10%. The bank charges a processing fee of upto 1% of the loan amount.
  • 2021-10-05 : IndusInd Bank Advances Grow by 10% Y-O-Y
    IndusInd Bank has posted a growth in advances by 10% on a Y-O-Y basis. Retail Deposits and Deposits from Small Business Customers amounted to Rs 1,11,749 crore as of 30 September 2021 as compared to Rs 1,05,737 crore as of 30 June 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.
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