Apply for HDFC Bank Gold Loan

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Why apply through CreditMantri

CreditMantri matches your credit and demographic profile to HDFC Bank Gold Loan lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you based on our proprietary matching algorithm.

In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for HDFC Bank Gold Loan. Hence the chances of your HDFC Bank Gold Loan application getting approved is higher.

of appraised gold value

2 yrs

best rate

12%

processing fee

Nil

  • Minimum loan amount is RS 20,000 (Pan India)
  • Interest rate – 12% ROI may differ as if ticket size is big it may reduce as well
  • Processing fees – Nil, Foreclosure 1%
  • Passport (Not expired)
  • Driving Licence (Not expired)
  • Voter’s ID card
  • Aadhaar Card
  • PAN Card (Along with any of the above address proof)

About HDFC Bank

HDFC is one of the leading private sector banks in India. It was incorporated in August 1994 and provides a wide range of banking services - commercial and investment banking on the wholesale side and transactional banking on the retail side.

HDFC Bank Gold Loan

A gold loan is a secured form of loan, as you pledge gold as collateral for taking the loan. This kind of loan is popular in India as it is quick and hassle-free, and the interest rates are lower many other kinds of loans. The gold you pledge typically must be of 18 carat purity or higher.

Since this loan is secured by a movable asset like gold, people with no credit history or people with bad credit who are trying to avail a loan for emergency expenses, or for personal / business use, can get this loan easily.

Gold loans generally have lower rates of interest compared to other loans (for example, personal loans). With a gold loan from HDFC Bank, you get to capitalize on your idle gold assets and cash in on it. HDFC bank’s Sampoorna Bharosa Gold Loan helps you optimize your investment in gold. Read on to know more about HDFC Bank gold loan offer.

HDFC Bank Gold Loan Features

  • It is swift and quick. You can literally walk-in with your gold ornaments or coins and get over the counter loan disbursement.
  • It is simple. HDFC Bank gold loan doesn’t require any documentation if you are an existing HDFC Bank customer. In case any documents are required (in case of a non-HDFC Bank customer), it is simple and standard.
  • Attractive interest rates. Special rates offered for Preferred, Imperia & Classic and women customers and HDFC customers.
  • Safe and secure. Your gold is valued and sealed in your presence with a Unique 3-way sealing to ensure your gold is secure in the bank’s safety vault.
  • Due to reduced interest rates, your monthly outflow is lower as compared to various other forms of credit.
  • Immediate Loan: A Gold Loan from HDFC is the quickest possible form of loan to meet emergency expenses.
  • Benefits for existing customers: If you are an existing customer of HDFC Bank, then you get easier repayment options and no documentation is required, making the loan process quicker and easier.
  • Flexible Pricing and tenures depending on the budget of the customer.
  • Instant liquidity: You can liquidate your loan against gold anytime. Also, it can be repaid any time without any foreclosure charges.

HDFC Bank Gold Loan Eligibility

A person looking to avail a gold loan from HDFC Bank must own the gold he/she is about to pledge, should be 21 years old at the time of gold loan application.

The end use of the gold loan could be for personal use or business needs like expansion, opening of a business branch, purchase of office equipment etc. The gold should not be used for speculative purposes, like buying land, capital market investment, purchase of gold, or any illegal purpose.

HDFC Bank Gold Loan Interest Rate

The interest rates on a gold loan are relatively lower than other kinds of loans since it is a secured loan. The rate varies and is dependent on the amount you have borrowed. The interest rate also varies depending on how much the loan amount is.

For the most up to date gold loan interest rates, it is advisable to contact the bank directly. Following is an overview:

Rates offered to customer during the period of Oct'16 to Dec'16

Product Group Bank IRR
Min Max Avg.
GOLD LOAN 9.50% 15.35% 11.91%

Annual Percentage Rate offered to customer during the period of Oct'16 to Dec'16

APR Min APR Max APR Avg
9.50% 23.71% 12.32%

HDFC Bank Gold Loan Documents Required:

The documents required for HDFC Bank Gold Loan is simple and straightforward. Following are the documents you need to furnish while applying for a gold loan from HDFC:

  • Identity Proof: Aadhar card / Driving License / Passport / Voter ID Card – any one.
  • Residence Proof: Gas / electricity Bill / Rental Agreement / Passport / Driving License / Voter ID Card – any one
  • Signature bearing national ID card – Driving License / Passport etc.
  • PAN Card
  • Photographs
  • Any other additional documents as mandated by the bank for the sanction of the loan.

HDFC Bank Gold Loan FAQs

What can an HDFC Gold Loan be used for?

Gold Loan can be used for any personal purpose like funding your dream vacation or any other personal purpose, or for business purposes. The loan cannot be used for speculative purposes which includes purchase of land or property, gold, capital market investments or any illegal purpose.

Are there any processing fees for availing this loan product from HDFC?

Yes, a nominal processing fee up to 0.5% of the loan amount will be levied. Valuation fees are also added at Rs. 250 for loans up to Rs. 1.5 lakhs and Rs. 500 for loan above Rs. 1.5 lakhs.

What is the tenure of a Gold loan?

You can choose from flexible tenures starting from 6 months to up to 48 months.

Can I foreclose my loan amount?

Yes, you can foreclose the loan amount, as directed by the rules and regulations of the bank which will be communicated to you at the time of application of the loan.

HDFC Bank Gold Loan Review

Getting a gold loan from HDFC is easy compared to other loans. If you are in an urgent need of money with minimal hassles, then a gold loan from HDFC is the way to go, provided you pay all your dues in time, and plan your finances well. HDFC has an over-the-counter disbursal process and this is helpful especially in an emergency situation.

How to Get Gold Loan from HDFC Bank

You can avail a gold loan from HDFC in the following two ways:

  • Online, through the bank’s website. You can fill the online form and a bank representative will get in touch with you for further processing.
  • Alternately, you can visit the nearest HDFC branch that offers gold loans with the required documents—ID proof, address proof, signature proof and passport size photograph—and, of course, your gold ornaments. Your gold will be evaluated and the disbursal will be done over the counter if everything is found in order.

Need help? If you think you need help with your HDFC Bank gold loan application, then CreditMantri can guide you and advice on eligibility and match you with the loan that suits your needs the best.

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