ICICI Bank Gold Loan – Benefits and Features, How to Apply

ICICI Bank Gold Loan

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ICICI Bank Limited is an Indian Private bank. It offers a wide range of banking products and financial services. It is also the second largest bank in India in terms of assets. ICICI Bank provides wide range of banking services and facilities to its customers.

ICICI Bank Gold Loan

ICICI Bank offers loan against gold with attractive rate of interest and minimal documentation. ICICI Bank’s Gold Loan is a one step solution for all your financial needs such as education, wedding, business etc. Get a loan amount against your gold with ICICI Bank with complete safety of your jewellery^[1].

What is Gold Loan?

Gold Loan also called as loan against gold is a secured loan taken by the borrowers from the lender in lieu of gold ornaments to meet any types of personal needs such as education, business, for any type of emergencies, wedding etc.

Also Read: Gold Loan Interest Rates as Comparison to Banks

Features and Benefits of ICICI Gold Loan

• Instant loan disbursal for amount varying from Rs 10,000 to Rs 15 lakhs
• Minimal and simple documentation process
• Attractive interest rates ranging from 10% per annum
• No EMIs, Repayment at the end of the loan tenure
• Flexible repayment tenures in ranging from 3 to 12 months
• Complete safety to your precious jewellery

ICICI Gold Loan Interest Rates, Fees and Other Charges

ICICI Bank Gold Loan Eligibility

Individuals between the age group of 18 to 70 years can apply for the ICICI Gold Loan. Applicants must prove to the bank that he/she can repay the loan amount at the given tenure.

How to Apply for ICICI Bank Gold Loan

To apply for gold loan you can visit any ICICI bank branch with your jewellery which you want to keep as a mortgage and get gold loan for any value from Rs 10,00 to Rs 1 crore.

You can also apply via online by following these simple steps:

• Visit the official website of ICICI
• Select Gold Loan option
• Fill up the form ‘Request a Call back form with your details and click on ‘submit’
• You will be sanctioned for the loan

Documentation Required

ICICI Gold Loan is designed to meet all your requirements. To avail for gold loan from ICICI you should have to submit the following documents –

• Two passport size photograph
• ID proof (Driving license/Voter ID/Aadhar Card etc.)
• Address proof
• Proof of land holding in case of agriculture loan of more than 1 lakh

Gold Loan EMI Calculator for ICICI Bank

Applicant can use ICICI Gold Loan eligibility calculator to calculate loan eligibility against their gold jewellery and how much amount you need to pay on your ICICI gold loan. This calculator will help you to get clear how much loan you will get instantly. To calculate you eligibility you just need to

• Visit the Gold Loan EMI Calculator page
• Enter the loan amount
• Enter the loan tenure (in months)
• Number of gold ornaments you have
• Weight of the respective ornaments and gold carat details
• Interest Rate

Once you fill the above-mentioned details. The Jewel Loan Eligibility Calculator will give you the estimated eligible loan amount. After getting the eligible amount, you can apply for the ICICI Gold Loan.

FAQs

1. What is Gold Loan?

Ans: Gold loan also known as loan against gold is a secured loan that one can avail against their gold mortgage for their financial use such as education, business, wedding, emergencies etc.

2. Who can avail ICICI Gold Loan?

Ans: Any individual between the age group of 18 to 70 can avail for this loan.

3. How can I repay my Gold Loan?

Ans: You can repay your gold loan by cheque, cash, or through funds transfer. No need to worry you can repay your loan amount easily at the end of the loan tenure.

4. Can I prepay my loan amount?

Ans: Yes, you can prepay your loan amount.

5. How much money can I borrow with ICICI Bank Gold loan?

Ans: It depends on your eligibility. You can avail from Rs 10,000 to Rs 15 lakhs from ICICI Bank.

6. What are the documents required to avail for the loan?

Ans: Below mentioned are the certain documents required to avail for the loan

• Two passport size photograph
• ID proof (Driving license/Voter ID/Aadhar Card etc.)
• Address proof
• Proof of land holding in case of agriculture loan of more than 1 lakh

Dev Kirtonia

Hi, I’m Dev Kirtonia, Founder & CEO of Dev Library. A website that provides all SCERT, NCERT 3 to 12, and BA, B.com, B.Sc, and Computer Science with Post Graduate Notes & Suggestions, Novel, eBooks, Biography, Quotes, Study Materials, and more.