Gold Loan : Get Loan Against Gold Jewellery
Life is full of opportunities. Do not allow the opportunities to pass just because of financial constraint. Get instant gold loan by bringing your gold jewellery at any branch of INDC First Bank. Your gold stays safe while you can go ahead and take advantage of every opportunity.
Gold Loan - Features and Documentation
INDC First Bank Gold Loan is designed keeping your convenience in mind.
Instant Gold Loan
You can now walk-into any of our INDC First Bank branch offering Gold loans with your jewellery and you can avail gold loan for any value from Rs. 10,000 to Rs. 15 Lakhs instantly. With our simple and easy documentation process, the loan can be availed across the counter instantly.
Your gold is absolutely safe with us. Your Gold is kept in Vault Safe in Strong Rooms of INDC First Bank giving you the guaranteed assurance of complete transparency and peace of mind. You Gold is valued in your presence, sealed and kept in Vault Safe. Whenever you wish to get your Gold back it will be given back to you in exactly the same state as you submitted in the first place.
Two passport size photograph
ID Proof such as Driving License / PAN Card / Form 60/61 / Passport Copy / Voter ID Card / Aadhaar Card / Ration Card. Any one document needs to be submitted
Address Proof such as Driving License / Voter ID Card / Ration Card / Aadhaar Card / Passport Copy / registered lease agreement with not older than 3 months utility bills in the name of landlord (any one)
Proof of land holding in case of agriculture loan of more than Rs. 1 lakh
Gold Loan Interest Rate and Charges
Loan Amount ₹ 10,000₹ TO 15,00,000
Loan Tenure 6 months TO 12 months
Interest rate range: (April 2019 to June 2019 Q1(FY19-20))
Minimum Maximum MeanPenal Interest
10.00% 16.95% 13.35% 6%
#Penal Interest is not applicable for agricultural loans up to ₹ 25,000 per customer.
It includes various categories like loan amount, customer relationships etc.
Mean rate = Sum of rate of all loan accounts / Number of all loan accounts.
Processing Fees > 1.0%
Foreclosure charges >1%+ INR 200,
Gold OD - 1% of the facility amount, if the facility is prepaid within 11 months or post 30 days of auto-renewal.
Documentation Charges*₹ 199
Up to 50 thousand: ₹300
Greater than 50 thousand up to 1 lakh: ₹350
Greater than 1 lakh up to 2 lakh: ₹500
Greater than 2 lakh :₹ 1000
Stamp Duty and other statutory charges (As per Applicable laws of the State
Overdue Handling Charges (delinquent accounts)
750 where a notice has been delivered at the communication address and a paper publication is not required
1,700 where no notice has been delivered at the communication address and the paper publication is to be done
300 charge for sending auction notice, over and above the preceding points I) and II)
200 for sending loan recall notice over and above the preceding points I) and II)
GST, other government taxes, stamp duty, levies, etc. as per prevailing rate will be charged over and above these charges. The above fees will not be applicable for agricultural loans upto ₹ 25,000 per customer.
*Applicable for flexi Gold Loan product.
*Applicable from December 01, 2018
Annual Percentage Rate:
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and processing fee.
The APR calculator does not include charges like stamp duty, Prepayment charges etc.
To calculate the same, please click here to download the APR calculator.
* Terms and Condition apply