IndusInd Bank Gold Loan Highlights |
|
|---|---|
| Interest Rate | 10%-16% p.a. |
| Processing Fees | Up to 1% of loan amount |
| Repayment |
|
| Loan Amount | Up to Rs 20 lakh |
| Loan Tenure | 3 months to 12 months |
| Collateral | Gold ornaments or Gold coins (50 grams per customer) |
IndusInd Bank Gold Loan Interest Rate
IndusInd Bank has not explicitly disclosed its current gold loan interest rates. However, it has provided information about the interest rates on gold loans sanctioned during the Third Quarter of the Financial Year 2024. This information may give a fair idea of the gold loan rates offered by the bank.
| Products | Interest Rates (p.a.) |
|---|---|
| Average | 11.85% p.a. |
| Maximum Interest Rate | 16% p.a. |
| Minimum Interest Rate | 10% p.a. |
Also read: Best Gold Loan Interest Rate
Gold Loan Interest Rates Offered By Partner Banks & NBFCs
| Bank/NBFC/Fintech | Interest Rate | |
|---|---|---|
| State Bank of India | 8.75% p.a. onwards | Apply Now |
| Axis Bank | 17% - 19% p.a. onwards | Apply Now |
| Punjab National Bank | 9.25% p.a. onwards | Apply Now |
| Bank of India | 8.80% p.a. onwards | Apply Now |
| IndusInd Bank | 8.80% p.a. onwards | Apply Now |
| Bank of Baroda | 9.40% p.a. onwards | Apply Now |
| Union Bank of India | 9.30% – 10.65% p.a. | Apply Now |
| Canara Bank | 9.25% p.a. onwards | Apply Now |
| HDFC Bank | 8.50% - 15.97% p.a. | Apply Now |
| Federal Bank | 8.99% p.a. onwards | Apply Now |
| ICICI Bank | 10% p.a. onwards | Apply Now |
| Bajaj Finserv | 9.50% – 28% p.a. | Apply Now |
| Manappuram Finance | 12% p.a. onwards | Apply Now |
| Bank of Maharashtra | 9.30% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8% - 24% p.a. onwards | Apply Now |
| Indian Bank | 0.77% per month | Apply Now |
| IIFL Finance | 11.88% - 27% p.a. | Apply Now |
| Rupeek | 8.88% p.a. onwards | Apply Now |
| Muthoot Finance | 10.90% p.a. onwards | Apply Now |
| Shriram Finance | 11.40% p.a. onwards | Apply Now |
IndusInd Bank Gold Loan Fees and Charges
| Particulars | Charges |
|---|---|
| Processing Fees | Up to 1% of loan amount |
| Penal Interest | 24% p.a. over and above the applicable ROI |
| Valuation Fee |
|
| Stamp duty and other statutory charges | As per applicable laws of the state |
| Renewal Processing Fees | Up to 1% of the outstanding amount. |
| Prepayment/Partpayment charges | NA |
| Non-standard repayment charges | NA |
| Credit assessment charges | NA |
| Outstation clearing charges | NA |
| Bounce Cheque Charges | NA |
Also read: Best Gold Loan EMI Calculator
IndusInd Bank Gold Loan Eligibility Criteria
Here are the eligibility criteria set by IndusInd Bank for its gold loan applicants:
- Age: Individual borrowers must be at least 18 years old and no more than 70 years old. For non-individual borrowers, the minimum age requirement is 3 years.
- Income proof: No income proof is required for loans up to Rs 15 lakh.
- Disbursal modes: The loan amount can be disbursed through cash, NEFT, RTGS, or pay order.
Also read: Best Gold Loan Eligibility
Documents Required for Availing IndusInd Bank Gold Loan
IndusInd Bank gold loan applicants need to submit the following documents when applying for a gold loan:
- Photograph
- Signature Proof
- Identity Proof (such as Aadhaar card, PAN card, passport, or voter ID)
- Address Proof (such as Aadhaar card, passport, utility bill, or rental agreement)
Also Read : Best Gold Loan Documents Required
Repayment Options for IndusInd Bank Gold Loan
IndusInd Bank provides two repayment options for its gold loan applicants:
- 1. Monthly interest payment option: Under this option, the interest is serviced on a monthly basis, and the principal amount is repaid on the maturity date of the loan.
- 2. EMI option: With this option, both the interest and principal components are repaid through equal monthly installments.
Features of availing gold loan from IndusInd Bank
- Monthly payments are lower compared to other forms of credit.
- Your gold offered as security is valued and sealed in your presence, ensuring peace of mind.
- Easily walk into the bank with your gold, submit necessary documents, and get the loan amount disbursed to your bank account instantly.
- Documentation process is easy and minimal. The bank offers gold loans at affordable interest rates. Women and those in agriculture-related professions may enjoy additional interest rate discounts.
FAQs on IndusInd Bank Gold Loan
1. What is the tenure for which I can avail gold loan from IndusInd Bank?
You can choose a gold loan tenure with IndusInd Bank ranging from 3 months to 24 months.
2. How can I apply for a gold loan from IndusInd Bank online?
To apply for a gold loan with IndusInd Bank, follow these steps:
- Visit the official website of IndusInd Bank.
- Navigate to the 'Products' section and click on 'Loan'.
- Select 'Gold Loan' from the options provided.
- Look for the 'Apply Now' button and click on it.
- A new page will open where you need to enter the required details.
- After entering all the necessary information, click on 'Apply'.
- The bank will review your application and provide further instructions.
- Once you fulfill all the requirements, the loan amount will be disbursed to your bank account.
3. I have some doubts regarding the availing of gold loan from IndusInd Bank. What should I do?
To reach an IndusInd Bank customer care executive, you can call the numbers 1860-500-5004 or 022-44066666. Alternatively, you can use the "Let us call you" facility on the bank's official website. Simply scroll down to find the link for this feature, then enter your details on the provided page and click "Apply". A customer care executive will contact you to assist with your gold loan queries.
4. Does IndusInd provide the gold loan facility everywhere in India?
IndusInd Bank does not offer gold loan facilities in all cities across India. You can check the official website of IndusInd Bank to see the list of cities and states where they provide this service. If you reside in a city where the bank does not offer gold loan facilities, you can still apply for a gold loan through the bank's website. A customer care executive will contact you and guide you through the process, including steps to follow if gold loan services are not available in your city.
5. What should I do if I want to apply for a gold loan from IndusInd offline?
To apply for a gold loan with IndusInd Bank, simply visit the nearest branch with your gold and necessary documents. A bank official will guide you through the application process.