Capital First Bank Gold Loan Features
Capital First Bank Gold Loan is available to anyone with the repayment capacity.
The Bank has made it easy to get the finances you need, with a hassle-free application process to help you achieve your personal needs. Capital First Bank is an Indian non-bank financial institution that has recently collaborated with IDFC Bank, now known as IDFC First.
Gold Loan is a secured loan that is offered once you pledge your gold ornaments with the bank as collateral or security. After the evaluation of your gold is done, the loan amount is ascertained by the bank.
The various features of Capital First Bank Gold Loan are:
- Low-interest rates.
- Competitive processing fees.
- No prepayment penalty.
- Interest payable on actual utilization.
- Simple documentation and servicing.
- Minimum 21 years and above to apply.
Capital First Bank Gold Loan Eligibility
|Minimum and Maximum Age||
21 Yrs – 65 Yrs
Note: However, many banks require a minimum age of 23 years
Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh
Interest rates are lower for a higher loan amount
Salaried and self-employed both are eligible
Businessmen are increasingly taking gold loans to meet their working capital requirements.
In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans.
|Quality of Gold||
Gold ornaments should range in between 18 to 24 Carats
An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22
Banks do not check CIBIL score for granting a gold loan
However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score
|Gold ornaments that can be used for availing loan||
Gold bars and coins
Gold with 18-24 carat purity
|Employment track record and income proofs||
Banks do not check your job stability or business stability to sanction you a gold loan. Gold loans are granted without income proofs. You only need to submit your basic KYC documents such as address proof, identity proof, and an Aadhaar card to avail of this loan.
Capital First Bank Gold Loan Documents Required
|List of Documents|
Passport (Not expired)
Driving license (Not expired)
Voters’ ID Card
Aadhaar Card issued by UIDAI
PAN (Permanent Account Number) Card (along with any of above-mentioned documents) or Form 60
One Passport Size Photograph
Agri Allied Occupation Documentation( in case of bullet repayment for agriculture customers)
Capital First Bank Gold Loan Approval Process
- Visit the nearest branch of your bank.
- Fill out the application to apply for Gold Loan and provide all the details.
- Provide all the necessary documents with the bank.
- Take your gold for its evaluation.
- Discuss and negotiate loan terms like loan amount, tenure, payment options, fees if any, etc. with the representative of the bank.
- After due evaluation of your application, the loan will be granted to you.
FAQs on Capital First Bank Gold Loan Approval Process
✅ Can I repay my loan partially?
Yes, you can repay your Gold Loan partially at any point, subject to the terms and conditions of your bank. You may also be charged a fee or penalty for the same. However, your deposited gold will only be returned once the entire loan amount has been paid.
✅ What is the repayment tenure for Gold Loans?
The repayment tenure varies from 3 months to 3 years, depending upon the bank or financial institution.
✅ What is a secured loan?
A secured loan is a loan that is backed by collateral which are your assets like gold, property, bonds or shares, etc. Therefore the interest rates are low on such loans.
Table of Contents
- 1 Capital First Bank Gold Loan Features
- 2 Capital First Bank Gold Loan Eligibility
- 3 Capital First Bank Gold Loan Documents Required
- 4 Capital First Bank Gold Loan Approval Process
- 5 FAQs on Capital First Bank Gold Loan Approval Process