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Federal Bank Gold Loan Highlights |
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| Interest Rates | Floating interest rates – 8.99% p.a. onwards;
Fixed interest rates – 9.79% p.a. onwards |
| Collateral | Pledge of 22 carat gold ornaments |
| Loan Tenure | 1 year to 3 years |
| Loan Amount | Rs 1,000 to Rs 1.5 crores |
| Gold Loan Repayment Facility | Lumpsum, EMI |
Last updated as of 20 November 2024
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Federal Bank Gold Loan Interest Rate
Federal Bank gold loan interest rates start from 8.99% p.a. The gold loan interest rates offered by the bank are floating and fixed in nature.
General Gold Loan Interest Rates
| Particulars | Interest Rates (p.a.) |
| Floating interest rates | 8.99% onwards |
| Fixed interest rates | 9.79% onwards |
Federal Bank Gold Loan Rate Per Gram/Gold Loan LTV Ratio
Below mentioned are the Federal Bank gold loan rate per gram of various schemes:
| Scheme | Maximum rate per gram |
| General Gold Loans | 75% of the market value of gold |
| Agri Gold Loans | Up to 90% of market value of gold |
| Non Agri Gold Loans | Up to75% of the market value of gold |
| MSME Gold Loans | 75% of the market value of gold |
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Federal Bank Gold Loan Processing Fees & Other Charges
Gold loan Processing Fees
| Schemes | Charges |
| General Gold Loan | Rs 180 to Rs 270 |
| Digi Gold NRI Variant | 1% of the loan amount (Minimum Rs 500) |
| Digi gold | 0.25% of the loan amount (Minimum Rs 500) |
| GL Graded Interest Rate Scheme | 0.35% of the loan amount (Minimum Rs 350) |
| Kisan Gold Scheme | Rs 530 to Rs 1700 |
| ISS KCC GOLD | 0.80% of sanctioned limit |
| MSME Gold Loan | Rs180 to Rs 270 |
| Fed Smart Saver Scheme | 0.50% of the loan amount (Minimum Rs 500) |
Appraiser Charges for Gold Loans
| Sanctioned Limit | Appraiser Charges |
| Up to Rs. 25,000 | NIL |
| Above Rs 25,000 to Rs 50,000 | Rs 140 |
| Above Rs 50,000 to Rs 1 Lakh | Rs 200 |
| Above Rs 1 Lakh to Rs 2 Lakh | Rs 220 |
| Above Rs 2 lakh to Rs.3 lakh | Rs 300 |
| Above Rs 3 lakh to Rs 5 lakh | Rs 430 |
| Above Rs 5 lakh | Rs 140 per lakh |
Safe Custody Charges for Gold loans
| Sanction Limit | Safe Custody Charges |
| Up to Rs.25,000 | Nil |
| Above Rs.25,000 to Rs.3 lakh | Rs 100 |
| Above Rs.3 lakh to Rs.5 lakh | Rs 150 |
| Above Rs.5 lakh | Rs 200 |
Security Operation fee
| Product | Charges |
| OD-Digi-Gold & OD-Digi-Gold-NRI | Nil for the first 2 security operations in a month |
| Other Permitted Gold loan schemes | Rs 250 for each security operation |
Penalty Charges for delayed repayment for Gold loans
| Loan Type | Charges |
| Agri Gold Loans | 14.50% applicable from the due date |
| Non-Agri Gold Loans | 16.50% applicable from the due date |
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Types of Federal Bank Gold Loan
General Gold Loan
Federal Bank offers gold loans against the security of 22-carat gold jewellery or ornaments. Applicants can use this loan for any personal purposes such as –car purchase, marriage, education, or other expenses except speculation.
Loan amount
Applicants can avail gold loans between Rs 1,000 to Rs 1.5 crores
Repayment Facility
Applicants can repay their interest on gold loans either through the EMI scheme option, i.e., on a monthly basis or lumpsum.
Digi Gold Overdraft
Borrowers can avail Digi Gold Overdraft for personal purposes, online shopping, fund transfer and bill payments directly from their loan account.
Loan amount
Applicants can avail Digi gold loan between Rs 3,000 to Rs 1.5 crores
LTV Ratio
Borrowers can withdraw overdraft facility for up to 72% of the gold
Collateral
Security for the loan will be a pledge of 22 carat gold ornaments
Additional Facilities
- Alternate locker facility
- Free insurance coverage on gold ornaments
- Replace or Release gold ornaments during the loan tenure
- ATM card, Net Banking and Mobile Banking facilities
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Eligibility Criteria for availing Federal Bank Gold Loan
Federal Bank offers gold loans against 22 carat gold ornaments to the applicants (including NRIs) aged 18 years and above.
Documents Required for Federal Bank Gold Loan Application
Stated below are the detailed list of documents required for availing Federal Bank Gold Loan:
- Proof of Identity (Aadhar card/ Voters ID card/PAN Card /Passport/Driving License)
- Latest Passport size photograph
- Address Proof (Aadhar card/Ration card / Electricity or Telephone Bill/ Lease agreement/Sales Tax certificate/Passport/Trade license)
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Federal Bank Gold Bank Loan EMI Calculator
Applicants planning to avail Gold Loan from Federal Bank can use our online Gold Loan EMI Calculator, to calculate gold loan EMI based on the loan tenure and interest rate.