Indusind Bank Gold Loan

INTEREST RATE	11.15% to 15.75%
LOAN TENURE	Maximum 12 months
PROCESSING FEE	As decided by the bank from time to time
GUARANTOR REQUIRED	No
PRE CLOSURE CHARGES	As decided by the bank from time to time

Indusind Bank is a private sector bank in india. It has headquarter in Mumbai. Indusind Bank was founded on 1994. It has 1675 branches and

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about Indusind Bank which includes Indusind Bank Official Website, Indusind Bank ATMs accross the India, Indusind Bank Branches accross the India, Indusind Bank Contact Numbers, Indusind Bank official EmailID, Indusind Bank Headquarter and Indusind Bank Headquarter Address. Find Indusind Bank Gold loan purpos, Eligibility, Margin, Repayment of Gold Loan ,Security, Documents Required for Gold Loan from below.

The purpose of the Gold Loan is to provide loan to borrowers against pledge of their gold |gold ornaments| gold coins to meet their urgent financial needs with lower interest rate and faster disbursement.

1. Person should be at least 18 years old.
2. Any person who owns gold | gold ornaments | gold coins that needs to be mortgaged with the bank.
3. Person should have a regular income (optional).
4. Persons who are having Savings or Current account with the bank (optional).

1. Duly filled up and signed gold loan application form
2. 2 passport size photographs
3. Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
4. Proof of Address - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
5. Proof of income -Latest salary slip showing all deductions or Form 16 or Income Tax Returns of 2 previous financial years (optional)

EMI Calculator Bank Branches Gold Loan FAQs

Maximum Rs.10 lakh

Gold | gold ornaments | gold coins etc. and since these can easily get liquidated in case of any default, banks offer these loans easily and at lower rates.

It is a short term loan. As per RBI guidelines, the tenor is limited to 1 year, in case of non-agriculture use. Some of the banks offer the tenure of upto 36 months too. You can take your gold back from the bank after you repay the loan completely.

Repayment structure depends on the bank. Mostly, banks permit repayment through EMIs or a bullet repayment at the end of loan term. In case of bullet payment at the end, borrowers need to pay interest on time. The principal amount will be paid in a bullet payment at the end.

1. Processing Fee: Some banks charge the processing fee which fee can be if negotiated, may be waived off. Valuation Fee: Some banks charge a small amount for valuation of gold. This is paid to the third party valuer.
2. Pre-payment Penalty: Some banks may charges penalty for pre-payment of loan.
3. Late payment Penalty: It is charged if you make any delay in payment of interest.

In India, we have emotional attachment with gold because usually, it is kept in the form of family jewellery. When we want to avail gold loan, we are required to keep this gold as a collateral which we do not agree so easily.

It is also required for you to be aware of the quality of gold which qualifies for the gold loan. The purity of gold which is required as a collateral for gold loan should be 18-22 carat or above. No value of precious gems studded in the gold jewellery is taken into account. It is also equally important for the borrowers to go through the terms and conditions mentioned in loan agreement thoroughly.

Further, if you are unable to repay the gold loan on time then there are high chances of losing your pledged gold/ gold jewellery. This may cause undue pressure on you. Hence, it is very necessary for you to think beforehand whether you will be able to repay the gold loan conveniently.