Starts at 14%
Loan Per Gram
From Rs. 2,472 to Rs. 3,023
Up to 36 months
Up to 1% + GST
About HDB Gold Loan
Gold is one of the most precious and costly metals in India. Its value in our lives cannot be ignored because every person is attached to it emotionally. However, what is the point of keeping your gold in a closed drawer when it could help you in times of emergency? Taking a loan against your gold can help you to overcome any drastic situation.
Why Choose HDB Gold Loan?
HDB offers loan against gold at the lowest Interest rate. Being one of the significant gold loan suppliers, HDB understands the necessities of the clients and disburses the loan amount in 60 minutes. The gold promised is securely secured in the bank locker and you don’t need to stress over its safety.
Advantages of HDB Gold Loan
- Loan Tenure up to 3 yrs
- Loan up to Rs. 20 Lakhs
- Loan up to 75% of the value of gold.
- Lowest interest rates in the market
- Safety and security of your gold
- Flexible repayment options
- No hidden charges
HDB Gold Loan Eligibility
HDB Gold Loan is a financial product provided by the bank which caters to your needs of short term or long term funds. It is easy to avail commercial service provided by banks at low rates of interest and also requires minimal documentation for the same. HDB gives you the Loan amount within an hour of application as the valuation and approval process is quickly done, keeping in mind your urgency regarding the need for funds.
Primary Eligibility criteria for availing the HDB Gold Loan is:
- The applicant should be a permanent Indian citizen who is at least 18 years of age and not more than 70 years (In most cases).
- The applicant should be the rightful owner of the gold that he/she wishes to pledge with the bank.
- The Minimum weight of gold that can be pledged is 10 grams, and the applicant becomes ineligible for Gold Loan if he/she has less than 10 grams of gold.
- The Minimum purity of gold required to be eligible for a loan is 18 carats. Also, Gold coins issued by banks are accepted up to 50 grams (In most cases).
- 24 Carat Gold in any form, Gold bars, Gold biscuits, etc. are not recognised as valid forms of gold to be kept as security for the Gold Loan.
- A good Credit or CIBIL score is not required to apply for the Gold Loan as it is a fully secured financial service against your gold as collateral security.
HDB Gold Loan Documents required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the HDB wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire HDB Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures high security of your gold ornaments till the Loan is closed.
Documents required for Applying for HDB Gold Loan are :
A duly filled and signed Gold Loan application form shall be submitted along with the following documents:
- 2 latest passport-sized photographs
- Basic KYC documents:
Identity Proof (Only one is required): Aadhar Card, Pan Card, Passport, Voter ID, etc.
Residence Proof (Only one is required): Aadhar Card, Pan Card, Voter ID, Ration Card, Electricity or Water Bills in the name of the applicant, or Rental Agreement(In case you live in a rented house).
- Agricultural Land Proof and Income Statement of the applicant have required in the case the applicant wants the Gold Loan for Agricultural purposes.
- If you are an existing customer of the bank, you may not be required to submit any documents as the bank will already have your verified details.
**Any other documents as requested by the bank shall be duly submitted.**
HDB Gold Loan Interest Rate, Fees and Charges
A Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged with depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates offered by the bank are lower in comparison to other loans because it is a fully secured loan.
The Gold Loan interest rates in the bank start at 10.70% per annum.
The bank also charges some additional fees along with the rate of interest in some cases, which are :
- Processing fee – 1% of the loan amount or ₹1000 whichever is higher
- Documentation charges
- Gold Valuation charges
- The bank charges no additional fees for part payment or the foreclosure of the Gold Loan.
HDB Gold Loan Rate per Gram
The amount of Gold Loan that you get per gram of your gold is directly dependent on the purity of your gold and the current prevailing rates of that purity of gold in the market. The price of gold changes daily in the market and therefore, the Canara Bank Gold Loan Rate per Gram also varies every day. Canara Bank gives funding of up to 70% of the total market price of your gold, keeping the remaining 30% as a security margin.
You will get ₹2430 to ₹2970 for a gram of gold depending on its purity and the market price for your Canara Bank Gold Loan.
**Keep in mind that only the weight of gold is considered and not the weight of stones on your jewellery**
HDB Gold Loan Apply Online
Applying for the Gold Loan service is a hassle-free and straightforward process which can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with necessary information regarding yourself and the Gold Loan you wish to avail. You will then need to visit the branch with the required documents and your gold.
You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.
- Visit Dialabank’s digital platform, where you will have to fill a form without any registration.
- Our Relationship Manager will contact you and assist you throughout the Gold Loan process and guide you in fulfilling your financial needs.
- You will get personalised service, giving you the option of comparing and taking the best deal according to your needs without any extra charges.
- With Dialabank, you can compare the different offers and schemes from various banks based on funding provided and the rate of interest charged for choosing the best loan deal for yourself.
HDB Gold Loan EMI Calculator
How to Pay Your HDB Gold Loan EMI?
Your HDB gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with HDB, Standing Instruction is the best method of repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the Bajaj Finance account you indicate.
- Electronic Clearing Service (ECS): This mode can be utilised if you have a non-HDB account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-HDB account at your closest HDB Loan Center. A new arrangement of PDCs should be presented on time. It will be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.
Gold Ornaments Accepted by HDB
Gold jewellery such as Gold Bangles, Gold rings, Gold anklets, and Gold necklaces, all of these are accepted for availing a Gold Loan.
Quality: The quality of gold should lie between 18 Carat to 22 Carat. Aby gold ornament which is 24 Carat, cannot be used for availing a gold loan.
Use of HDB Gold Loan
The funds acquired by availing the HDB Gold Loan service can be used for several purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, etc.
- For all your business needs, such as buying raw material, expansion of business, etc.
- You can also avail a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.
FAQs About HDB Gold Loan
The HDB per gram rate for Gold Loan varies based on the purity of your gold. HDB provides funding of up to 75% of your gold’s market value.
HDB provides Gold Loans at a competitive rate of interest for a maximum tenure of 12 months. The bank gives the maximum value for your gold with low processing charges and quick disbursal. You can take loans from a minimum of Rs. 25000 and a maximum of Rs. 10 lacs.
The rate of interest charged on the Gold Loan by HDB varies from 10.50% to 11.50% per annum. The bank also charges a processing fee on the loan amount sanctioned.
HDB has various ways through which you can repay your Gold Loan. The most common being monthly interest deduction from your bank account in the form of EMIs.
You can apply for HDB Gold Loan, either offline or online. Visit the nearest branch with your gold and fill an application form or apply online at Dialabank.com to avail of personalised assistance.
You can renew your HDB Gold Loan by visiting the loan branch with your documents. You will be required to fill out a form for the renewal of your Gold Loan.
You can easily take a quick disbursing Gold Loan from HDB by visiting the nearest branch or through online application at Dialabank’s online portal.
Gold Loan from HDB is an easy and hassle-free process. The bank provides quick disbursal with a low rate of interest and flexible modes of repayment. The bank charges low processing fees and also takes the responsibility of your gold ornaments to the fullest. You can avail loans for a minimum of Rs 25000 and a maximum of Rs. 10 lacs.
Getting a Gold Loan from HDB is a piece of cake. You get same-day speedy disbursal of the loan amount by visiting the bank branch. You can also apply online with Dialabank from the comfort of your home.
You can check your Gold Loan status by contacting the HDB on their customer care number or by personally visiting your loan branch.
Close your Gold Loan by visiting the bank branch and paying your loan amount in full. Your gold will be returned to you once your payment has been verified.
Renewal of HDB Gold Loan is a simple and hassle-free process wherein you just need to reach the branch with all loan-related documents and get the gold kept as security evaluated according to the new prices and accept the new terms for the renewal.
If someone defaults the HDB Gold Loan repayment, then the bank charges a penalty fee. Also, defaulting on your Loan gives the bank the legal right to auction your gold.
Table of Contents
- 1 About HDB Gold Loan
- 2 Why Choose HDB Gold Loan?
- 3 Advantages of HDB Gold Loan
- 4 HDB Gold Loan Eligibility
- 5 HDB Gold Loan Documents required
- 6 HDB Gold Loan Interest Rate, Fees and Charges
- 7 HDB Gold Loan Rate per Gram
- 8 HDB Gold Loan Apply Online
- 9 HDB Gold Loan EMI Calculator
- 10 How to Pay Your HDB Gold Loan EMI?
- 11 Gold Ornaments Accepted by HDB
- 12 Use of HDB Gold Loan
- 13 FAQs About HDB Gold Loan