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Axis Bank Gold Loan Highlights |
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| Interest Rate | 17% – 19% p.a. |
| Repayment Tenure | 6 months to 3 years |
| Loan Amount | Rs 25,001 to Rs 40 lakh |
| LTV Ratio | Up to 75% of the value of gold pledged as collateral |
| Processing Fees |
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Note: Interest rates updated as of 12 November 2024
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Axis Bank Gold Loan Interest Rate
Axis Bank offers gold loans at interest rates ranging between 17% p.a. and 19% p.a. The final gold loan interest rates offered by the lender depends on the loan scheme.
Axis Bank Gold Loan Fees & Charges
Axis Bank Gold Loan Processing Fees
| Particulars | Charges |
| Processing Fees |
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Other Charges
| Particulars | Charges |
| Valuation Fee | Rs. 500 to Rs 1,500 |
| Pre Payment Charges | Nil |
| Stamp Duty | As per applicable state laws |
| Foreclosure Charges |
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| Penal Interest | 6% p.a. |
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Other Features of Axis Bank Gold Loan
Loan Amount
Axis Bank offers gold loans for loan amounts ranging from Rs 25,001 to Rs 40 lakh. The final loan amount offered to the Axis Bank Gold Loan applicants would depend on the weight of the gold offered as collateral, its purity, market price of gold and LTV ratio (maximum 75%) set for the applicant.
Tenure
The loan tenure offered by Axis Bank ranges between 6 months to 3 years.
Repayment
Axis Bank offers term loan and overdraft facility for its gold loan scheme. Loan applicants have the following choices to either repay the loan amount:
- Repay their interest amount upfront and pay the principal amount on maturity date
- Repay their interest amount on a monthly basis and pay the principal amount on maturity date
- Opt for EMIs to repay their loan
Processing Time
Axis Bank claims to disburse gold loans on the same day of making the loan application.
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Eligibility Criteria for availing Axis Bank Gold Loan
The eligibility criteria for availing Axis Bank Gold Loans are as follows:
- Loan applicants aged between 18 years and 75 years, who own gold ornaments are eligible to avail the loan.
- The purity of the gold pledged as mortgage should be at least 18 carat.
- The weight of bank-issued gold coins pledged collateral should be maximum up to 50 grams.
Axis Bank Gold Loan Documents Required
Prospective applicants need to furnish the following set of documents to avail Axis Bank Gold Loans:
- Identity Proof (Driving Licence, Voter ID Card, Aadhaar Card, Passport, Job card issued by NREGA and duly signed by state government officer, letter issued by NPR containing details of name and address etc.)
- Residential Proof: KYC documents, same as identity proof
- Post-disbursement documents (if any)
- Signed application form
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