Axis Bank Gold Loan
Axis Bank is India’s third largest private sector bank, formerly known as UTI Bank (Unit Trust of India). The bank offers the entire spectrum of financial services to its customers. Axis Bank is one of the first new generation private sector banks in India to have begun operations in 1994.
|Name||Axis Bank Limited|
|Type||Private Sector Bank|
|Headquarters||Mumbai, Maharashtra, India|
|Established||3 December 1993|
|Chairperson||Shri Rakesh Makhija|
Axis Bank Gold Loan
If you are in urgent need of cash, you can use your gold to avail a gold loan. Axis Bank allows you to avail a loan against your gold jewellery or gold coin with same day loan disbursement at your account. This post is all you need to know about Axis Bank gold loan, its interest rate, repayment tenure, loan amount and many more.
Also Read: ICICI Bank Gold Loan
Benefits and Features of Axis Bank Gold Loan
- Axis Bank offers gold loan to meet urgent financial needs
- Same day loan disbursal with minimum documentation
- You can avail from Rs 25,001 to Rs 25 lakh
- You can choose you own tenure to repay your loan between 6 months to 36 months
- Gold is kept safe at Axis Bank
Axis Bank Gold Loan Interest Rate
|Interest Rate||14.50% p.a. to 17% p.a.|
|Loan Amount||Rs 25,001 to Rs 25 lakh|
|Loan Tenure||Up to 3 years|
|Processing Fees||1% of the loan amount + GST|
|Penal Interest||2% per month on the overdue loan amount|
To apply for a gold loan your age should range between 18 to 75 years and should have gold ornaments jewellery or coins to give as a security. Also, the gold items you pledge should meet the bank’s internal criteria.
To avail gold loan from Axis Bank, certain documents are required –
- Id proof
- Address proof
- KYC documents
- Income proof
- Application form for gold loan
- Bank statement
How to Apply for Gold Loan
One can apply for loan against gold via online or offline. If you want to apply for a loan via offline, you need to visit your nearest Axis Bank Branch and by doing all the formalities. Inorder to apply online, you can follow the steps mentioned below:
- Visit the official website of Axis Bank
- Go to ‘Apply Now’ option and click on ‘Gold Loan’
- Fill up the online gold loan application form
- Provide all your personal details such as phone number, email id, address etc.
- Select your state, city
- Click on ‘Submit’ option to submit the form
- Note down your reference id number, wait for the bank representative to get in touch with you
- After all the verification your loan amount will be disbursed at the same day
Gold Loan EMI Calculator
You can check your EMI amount you will have to pay each month on your gold loan through Axis Bank EMI calculator. EMI calculator is very helpful tool through which you can know how much amount you are eligible for the loan and how much amount you will have to pay on the given tenure. Below mentioned are the steps to calculate your EMI.
- Click on the gold loan EMI calculator
- Enter the loan amount, interest rate and loan tenure
- After complete verification, you will see the EMI amount on the right side of the screen
1. What do you mean by Gold Loan?
Ans: Gold loan is a secured loan that one can avail against their gold for their financial use such as education, business, wedding, emergencies etc.
2. Who can avail for a gold loan?
Ans: Anyone who needs urgent need of cash can avail for a gold loan. If your age is is between 18 to 75 years then you can avail for this loan.
3. Can I prepay my loan amount?
Ans: Yes, you can prepay your loan amount.
4. How long does it take for the disbursement of loan amount?
Ans: The loan amount will get disbursed in your account at the same day of your loan application.
5. What are the modes of repayment of the loan?
Ans: You can repay your loan amount from the following options:
- Pay in EMIs
- Make monthly interest payments
- Bullet payments
- Pay upfront interest and the principal later
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