Axis Bank Gold Loan: Interest Rate, Features & Charges

If you’re looking for an easy way to get a loan, Axis Bank may have the perfect solution for you. Axis bank gold loan program that allows customers to borrow up to Rs 25 lakh with a fixed rate of interest and no collateral required.

Axis Bank Gold Loan Highlights

Interest Rate12.50% p.a. onwards
Loan AmountUp to Rs.25 lakh
Loan TenureUp to 36 months
Processing Fee0.50% of the loan amount
axis bank gold loan

What is a Gold Loan?

A loan that uses gold as collateral is called a gold loan. This means that you can use the gold to secure the loan and then repay the loan with gold. This is different from traditional loans, which use things like bonds or mortgages as collateral. Because gold is a valuable commodity, this makes it a good choice for loans. The interest rate on a gold loan can be variable, depending on the lender and the market conditions at the time of the loan.

Axis Bank Gold Loan

If you are looking for a short-term loan that can help you get through a tough financial time, consider borrowing money from Axis Bank through its Gold Loan program. This lending is perfect for people with assets that can be used as collateral, like gold coins or jewelry. Axis Bank offers Gold Loan at an interest rate starting from 12.50% p.a. You can take a loan up to Rs 25 lakh for a maximum tenure of 3 years. You can use this gold loan to meet your personal needs like medical expenses, education-related, travel, marriage, etc.

Axis Bank Gold Loan Interest Rate

Axis Bank offers a gold loan interest rate starting at 12.50% p.a. This is one of the lowest interest rates available on gold loans. The interest rate can increase depending on the amount borrowed and the term of the loan. Axis Bank decides its gold loan rates on the basis of its MCLR.

Fixed Rate Loan1-year MCLRSpread over 1 year MCLREffective Interest Rate
Gold Loan8%9%17%

Read Also – Yes Bank Car Loan

Axis Bank Gold Loan Calculator

The Axis Bank Gold Loan calculator can help you determine the amount of a gold loan that you qualify for. The calculator allows you to input your loan amount, interest rate, and duration. The calculator will then provide you with a breakdown of your estimated payments and total cost.

Axis Bank Gold Loan Features & Benefits

Axis Bank gold loan is one of the most popular loans in the market today. It offers a number of features and benefits that make it an attractive option for borrowers. Here are some of the key features and benefits of this loan:

  • The interest rate on this loan is relatively low, at 12.50% p.a. This makes it an affordable option for those who need to borrow money to meet short-term financial needs.
  • The loan has a fixed repayment period of 6 months to 36 months. This means that borrowers will not have to worry about payments changing over time.
  • Unlike other loans, there is no need for borrowers to pledge any collateral as part of the Axis Bank Gold Loan process. This makes it a more flexible option for people who want to borrow money to buy gold
  • Another key benefit of the Axis Bank Gold Loan is its flexible repayment options. You can choose to repay your loan over a period of up to 3 years, which means that you have plenty of time to save up for your purchase.
  • The application process for the Axis Bank Gold Loan is easy and straightforward. This makes it an ideal choice for people who want to borrow money to buy gold without having to spend too much time processing their applications.
  • Axis Bank provides 24/7 customer support, which means that you can always reach out if you need assistance.

Axis Bank Gold Loan Eligibility

As a borrower, you may be eligible for a gold loan from Axis Bank. borrowers must meet all of the following requirements in order to be approved:

  • Your age should be between 18 years to 75 years.
  • You should maintain a stable source of income.
  • You should have gold ornaments/jewellery or coins, which you can pledge.
  • The purity of gold should be more than 18 Carat.
  • You must also meet the bank’s other lending criteria.

Axis Bank Gold Loan Documents Required

If you are looking for an easy way to get a gold loan, Axis Bank may be the right bank for you. Here are the documents you need to apply:

  • Signed application form
  • KYC documents: Adhar card, PAN, utility bill.
  • Proof of income: Latest salary slip, Form 16 or bank statement.
  • Post-disbursement documents (if any).

How to Apply for Axis Bank Gold Loan

The process of applying for a gold loan is simple and is outlined below.

  • Go to the Axis Bank website and click on the “Loan” tab on the main page.
  • On the “Loan” tab, select “Gold Loan” from the list of options.
  • On the next page, you will be asked to enter your personal details such as your name, email address, and bank account number. You will also be required to provide proof of identity such as an identification card or passport.
  • After completing the information fields, click on the “Next” button. You will then be asked to select your desired loan amount and loan duration.
  • Click on the “Next” button again to submit your application. Axis Bank will review your application and contact you if there are any further questions or concerns.

You can also apply for a gold loan by visiting your nearest Axis Bank branch. You must carry the necessary documents and gold with you. There your documents and gold will be checked and your application will be accepted if everything is correct.

Important Aspects About Gold Loan

The following are some of the important aspects to consider when making a gold loan:

  • Gold loan options: One of the main things that you need to consider when looking into a gold loan is the available options. There is a variety of bank that offer these loans, and each one has different terms and requirements. Before choosing a bank, it’s good to do some research to find out the best option for you.
  • Interest rates: One of the other key factors to consider when looking into a gold loan is the interest rate. This will determine how much money you will be paying back over time. It is important to find a company that offers a high-interest rate so that you can get the most out of your investment.
  • Repayment timetable: Another key factor to consider when looking into a gold loan is the repayment timetable. This will tell you how long it will take you to repay the loan. It is important to find a company that offers a fast repayment deadline so that you can get your money back as soon as possible.

Axis Bank Gold Loan Customer Care Number

If you are having any issues with your Axis Bank Gold Loan, you can contact their customer care number for help. They are available 24/7 to answer any of your questions and help resolve any issues that you may be facing.

  • 1860 419 5555 and 1860 500 5555

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FAQs On Axis Bank Gold Loan

Q. What is the interest rate on the gold loan?

Ans. The interest rate on the Axis Bank gold loan is 12.50% p.a.

Q. Can I use the Axis Bank Gold Loan for investments?

Ans. The Axis Bank Gold Loan cannot be used for investment purposes. The product is meant only for personal use, such as purchasing jewellery.

Q. How long does it take to receive the money from the gold loan?

Ans. It takes approximately 2-6 days for the money to be transferred to your bank account after you have received the gold loan.

Q. What is the repayment schedule for a gold loan from Axis Bank?

Ans. The repayment schedule for a gold loan from Axis Bank is generally based on the borrower’s monthly income. The loan will be repaid over a period of 6 months to 36 months, depending on the amount borrowed and the credit rating of the borrower.

Q. Do I need a co-applicant for an axis bank loan against gold?

Ans. No, when applying for a gold loan you do not need a co-applicant.

Q. Are there any risks associated with a gold loan from Axis Bank?

Ans. There are a few potential risks associated with a gold loan from Axis Bank. First, the interest rate on a gold loan can be quite high, which could make the loan difficult to afford. Second, if the value of gold falls below the loan’s collateral value, Axis Bank may require you to repay the loan in full. Finally, if you fail to repay a gold loan in a timely manner, Axis Bank may seek to seize your assets. However, overall, these risks are relatively minor compared to other financial options available to you.

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Hey, I'm Digvijay Sharma. I've much experience in the financial sector so, I created this website to share the best knowledge with you as a LoanTeacher so you can take better decisions for your financial life.

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