Axis Bank Gold Loan

1. The loan amount ranges between Rs.25,001 and Rs.40 lakh.
2. You can apply for a gold loan and receive the amount within 60 minutes.
3. Maximum tenure of up to 3 years.
4. You can use your gold ornaments as security to apply for a gold loan from Axis Bank.
5. The bank will provide secure storage to keep your gold safe.
6. Interest rates up to 17% p.a.
7. Easy documentation process.

Features of Axis Bank Gold Loan

1. High Loan Amounts - The Axis Bank Gold Loan features high loan amounts so you can take care of any needs. This loan can be availed for a maximum amount as high as Rs.40,00,000.
2. Loan Against Gold Ornaments - The purpose of a gold loan is to allow you to easily avail a loan with the help of the gold which you own. You can avail this loan against gold ornaments which you are in possession of.
3. Quick Loan Disbursal - With Axis Bank, you can your loan disbursed as early as the same day of your application. While loan disbursal is subject to approval by the bank, once it is approved, the loan will be disbursed the very same day.
4. Zero Loan Prepayment Charges - You may easily pre-close your gold loan with Axis Bank without having to pay any pre-payment charges.
5. Multiple Repayment Options - Axis Bank provides loan applicants with multiple options in terms of loan repayment. You may (i) Pay the interest upfront and repay the principal amount of the loan on the maturity date, or (ii) Pay interest on a monthly basis and make the repayment of the principal amount on the maturity date, or (iii) Repay the loan via EMIs or Equated Monthly Installments.
6. Safety of Gold Ornaments - Rest assured that your gold ornaments are completely safe at the Axis Bank vaults.
7. Chance To earn edge loyalty points - You stand a chance to earn up to 150 edge Loyalty points on the disbursement of your gold loan.

Axis Bank Gold Loan Interest Rate

Axis Bank currently provides an interest rate at 17.00% p.a. On their gold loans. Only simple interest will be calculated on the loan.

Eligibility criteria for Axis Bank Gold Loan

Any individual aged between 18 years to 75 years is eligible to apply for an Axis Bank Gold Loan.

Documentation required to apply for Axis Gold Loan

In order to apply for this loan, applicant must submit the following documents:

1. Duly signed and completed Application Form.
2. Proof of identity, residence and signature of the applicant.
3. PAN Card or Form 60.
4. Proof of Age.
5. Post Disbursement Documents (if any)
6. 2 Passport sized photographs

Other Fees and Charges

How to apply for a Gold Loan from Axis Bank

Axis Bank introduces this specific facility into two types, offline online approval, in which interested individuals should go physically visit the nearest Axis Bank branch to apply offline. Also, other people can choose to go online.

Here are the steps set by the exclusive axis bank gold loan facility;

· Visit the Axis Bank Gold Loan page.

· Click on "Apply Now."

· Fill in the online form like name, phone, email, residential address etc

· Select the state, city and nearest branch.

· Submit the application form.

· Remember your reference number and then wait till a phone number contacts you.

Gold loans from Axis Bank have disbursement of same-day cash that is most advantageous for the client within that aspect.

Things to Consider When Taking a Gold Loan

Credibility of the Lender - Ensure that the lending institution has a good reputation so that the gold is secured till every penny is repaid. For instance, Axis Bank offers three-time protection, taped sealed packaging, an in-bank safe-keeping vault, and certificates of value to ensure safety.

Loan Amount - A loan quantum is linked to the value, purity, and weight of gold you are pledging. Generally, up to 75% of the valuables is extended as loan by different lenders and various may offer more or less percent.

Interest rates - Secured gold loans have generally less interest rates compared to an unsecured loan.

The tenure of the loan - One has to be elaborate about the tenure of the loan in this scenario as every valuable item ranges from a six-month to a 36-month tenure payback period.

Appropriate Repayment Modes - Options are different for each of the lenders, but the system generally implies some methods of payment such as EMIs, bullet repayments, etc.

Factors which determine the loan amount

Apart from this, there are several other factors which affect the quantum in gold loan:

Purity and Weight of Gold: The higher purity and weight of the gold would lead to higher loan amounts.

Loan to Value: The koan to Value ratio is kept fixed by the lenders that decide how much per cent of the value of gold you can borrow.

Current Price of Gold in the Market: It will also be beneficial to consider the fact that gold prices are related to loan amounts.

Borrowers Repayment Capacity: It represents a complete assessment of income, existing commitments, and savings. For example, if you have a monthly commitment of Rs.20,000, the evaluator will deduct it from your salary, which is, say, Rs.35,000 and derive the available repayment amount.

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