Loan Against Gold Jewellery and Coins from Axis Bank
Unleash the potential of your gold jewellery and gold coins to pay off your high-interest debts
Axis Bank Personal Gold Loan
This scheme helps borrowers access needed funds by pledging their gold jewellery or specially-minted gold coins sold by banks. This loan can be used to meet any personal financial needs as well as to consolidate high-interest debts. The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 25 lakh.
Features of Axis Bank Gold Loan
Why this Loan?
- The Axis Bank Gold Loan is meant for borrowers who want to get funds by pledging gold jewellery and coins to meet their financial needs
- This loan scheme can also be repurposed into a consolidation loan to pay off their high-interest credit card debts and loans
- There are no pre-payment charges for this loan
Loan Amount
- The maximum loan amount sanctioned by the bank under this loan scheme is Rs. 25 lakh
Interest
- The interest rate applicable to this loan is defined as the sum of two factors: one-year Marginal Cost of Funds based Lending Rate (MCLR) and a Spread factor. As of October 2020, the interest rate applicable to this loan is 14.00%
Repayment
- This loan is repayable within 3 years
Eligibility
- Borrowers should be above 18 years of age
- Borrowers must be the true owners of the gold ornaments, jewellery or specially minted gold coins sold by the banks
Security Needed
- The bank accepts pledging of gold ornaments or gold coins duly verified for quality and quantity to secure this loan
Processing Charges
- The bank charges up to 1.00% of the loan amount plus GST for processing this loan
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
- Income/Banking Proof for Self-employed Professionals/Insurance Agents: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan/ Form 26AS/TDS Certificate, IT Assessment, etc.
Reference Facts
- Axis Bank Website: www.axisbank.com
- Headquarters: Mumbai, Maharashtra
- Call Centre Number: 1860 419 5555, 1860 500 5555