About HDFC Gold Loan
Life is full of uncertainties. Thus you may need money to cope up with financial hurdles in your life. In this case, you can get a Gold Loan to fight with the financial crisis.
Gold loan is a secured loan. Therefore the people with low CIBIL score can also easily avail this service. HDFC Gold Loan is one of the best gold loans in India.
Though, There is a lot of financial banking and non-banking companies that provide you with a gold loan, but HDFC Gold Loan is considered the best. HDFC Bank was set up in 1994. It is one of the most reputed and reliable banks in India. Also, It is known for its brilliant financial services.
- Interest Rate Starts at 10.70%
- Loan Per Gram From Rs. 2,472 to Rs. 3,023
- Tenure Up to 36 months
- Processing Fee Up to 1% + GST
Know More – What happens when you don’t pay a Gold Loan?
Why HDFC Bank for Gold Loans?
The Gold Loan is always considered as a better option to borrow money from the bank. The reason behind this, the HDFC Gold Loan Interest Rate is low as compared to other services like a personal loan.
So if you have a choice between a gold loan or a personal loan, then you are always advised to go for a gold loan. Because, of unsecured service, the personal loan has higher rates of interest.
Besides this, your gold assets would be in tight security if you get a gold loan free of cost. On the other hand, if you want to put your jewellery in a bank, they will charge you for the locker.
So, if you are getting a gold loan, you are killing two birds with one stone. That is, You are getting funds and security of your gold simultaneously. Finally, You don’t have to pay charges for the safety of the gold.
Know More – Gold Loan From Top banks And NBFCs in India
HDFC Gold Loan Features & Benefits
These are some Basic Features of HDFC Gold loan. Let us discuss them.
- Fast Process: First of all, HDFC Gold Loan is approved and disbursed very quickly and easily. The loan gets passed in an hour.
- Fewer Documents: Next, the documentation process is straightforward and less, vital documents are required for HDFC gold loan.
- Transparent System: Furthermore, the bank provides full transparency to the customer; that is, there are no hidden charges.
- Amount of Loan: Moreover, The minimum amount of loan that HDFC provides to the customer is Rs. 50000. Also, It can be less than Rs — 50000 in rural areas.
- Safety of Jewelry: One important thing to note is that the bank is liable entirely for the security of your gold. Thus, the gold is kept in fireproof protection.
- Loan Tenure: Also, The tenure of the loan can be from 1 year to 4 years. Hence, You can choose according to your comforts.
- Benefits for Farmers: HDFC bank provides some special offers for agricultural purposes. That is, the bank offers a slight low Gold loan interest rate for a Gold loan for agricultural use.
- No Debt Burden: Importantly, There can be situations in which an applicant is not able to repay the loan amount in such a case the applicant will not be under debts as the bank will only confiscate the ornaments.
- No Income bounds: There are no restrictions on the salary or income of the applicant; hence, anyone with any income rage can avail a gold loan
HDFC Gold Loan Eligibility Criteria
The loan seeker can avail a Gold Loan only if the eligibility criteria are fulfilled:
- Firstly, The applicant should lie in the age group 18-70 years. Hence, Any applicant who is either above 70 years or less than 18 years will not be considered for loan approval.
- Most importantly, you should be a citizen of India. That is, the nationality of a person should be Indian.
- Next, employment status is not considered. Therefore, both salaried and self-employed can apply. The bank is not bothered about your employment status.
- Furthermore, The weight and quality of gold are equally important. As a result, the gold should weight at least 10 grams, and purity should lie between 18 carats to 22 carats.
- Finally, Maximum funding that can be availed is up to 1Crore.
Know More – Gold Loan: Factors to Remem
Documents Required for HDFC Gold Loan
The documentation process is not that complex in HDFC Gold Loan. Following are the basic documents that are required in HDFC gold loan. These are listed below :
- Identity Proof: First of all, proof of identity is required for the Gold Loan. Thus, An identity proof can be your Aadhaar card, PAN card, Driving license, voter ID card or your passport
- Residence proof: Next, An address proof is also needed in HDFC Gold Loan. Therefore, Your Aadhaar card, PAN card, Ration card, voter ID card, driving license, or passport can be considered as the proof of residence. In case you are living on rent then, the rent agreement or water/electricity bills for the last three months can be considered.
- Besides this, Two passport size photos are required. (Applicant should not be wearing glasses in the photograph, the photograph should be coloured)
HDFC Gold Loan Interest Rate
In general loan on gold, the credit is available at a low-interest rate. Moreover, the reason behind that the gold loan comes in the category of secured loans. So the Gold interest rates are less than that of a personal loan or any other kind of loans though the gold loan rate keeps on changing time to time as well as person to person.
HDFC Gold Loan Interest Rate is 10.70% per annum
Know More – Gold Loan Interest Rate
How to Apply for HDFC Gold Loan?
Online Process to Apply for HDFC Gold Loan
You can apply for the HDFC Bank Gold Loan at Dialabank. The process is straightforward. To begin, You have to fill a simple form online.
After that, you will get a call back from our side. Furthermore, you will get a document to pick up facility from your doorstep. For more information, you can call on 9592046860.
Dialabank is considered as the best platform to apply for a gold loan online. There are so many reasons behind this.
- First of all, Dialabank is India’s first financial helpline; it provides the best financial services to customers all over the country.
- Besides that, the bank has a good reputation among the customers because of its best services.
- Another reason, if you apply for a gold loan on Dialabank, then you will get a low HDFC Gold Loan Interest Rate.
- Also, Dialabank provides document pickup facility from the doorstep of the customer.
- One more important thing is that the Dialabank guides the customers free of cost. That is, there are no additional charges of applying for a gold loan online on the website of Dialabank.
- Also, while applying for a gold loan through Dialabank, very less paperwork is required.
- One more thing is that you will get high LTV of your gold.
- Finally, the Relationship managers are trained enough to guide you in the entire process of Gold Loan.
Offline Process to Apply for HDFC Gold Loan
The applicant also has an option to avail an HDFC Gold Loan from the nearby branches. To do so, search Gold Loan near me on google. It will enlist all the neighbouring departments from where you can avail the loan. Then, you will have to visit again and again until the loan approval.
Thus, it can be a very tiring and time-consuming process. You can avail loan from HDFC Gold Loan Branches. As well as to find a branch that is nearby, search Muthoot Gold Loan near me. Google will enlist all the Muthoot Gold Loan Branches near you.
How to Pay Your HDFC Gold Loan EMI?
Your HDFC gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with Bajaj Finance, Standing Instruction is the best method of r 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 utilized if you have a non-Bajaj Finance 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-Bajaj Finance account at your closest Bajaj Finance Loan Center. A new arrangement of PDCs should be provided promptly. It will be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.
Gold Ornaments Accepted by HDFC Bank for Gold Loan
Gold jewellery such as Gold Bangles, Gold rings, Gold anklets, and Gold necklaces, all of these are accepted by HDFC Bank for availing a Gold Loan.
Quality: The quality of gold should be between 18 Carat to 22 Carat. Any gold ornament which is 24 Carat, cannot be used for availing a gold loan.
Use of HDFC Gold Loan
The funds acquired by availing the HDFC 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 HDFC Gold Loan
The per gram Gold Loan amount depends on the purity of your gold. HDFC accepts gold of purity between 18K to 22K to provide a Gold Loan. The loan amount per gram in HDFC ranges between ₹1880 and ₹2685.
HDFC Bank Gold Loan is a loan scheme that you can avail for urgent monetary help by keeping your gold as collateral security with the bank. HDFC Bank Gold Loan comes with attractive interest rates on Term Loan, Overdraft, and EMI based loan. Average Gold Loan disbursal time at HDFC is just 45 minutes.
Gold Loan interest rates in HDFC start at 10.00% per annum. The rate of interest depends upon a number of factors, namely: loan amount, loan tenure, purity of gold, and relationship with HDFC bank. The average rate of interest in HDFC is 10.75% per annum
You can pay HDFC Gold Loan online through net banking on the official HDFC loan repayment web page or alternatively, you can also repay your HDFC Gold Loan on Paytm using your preferred payment method.
HDFC Bank provides attractive Gold Loan offers and deals with quick disbursement. You can apply for Gold Loan in HDFC bank by simply walking into the nearest Gold Loan offering bank branch with your gold ornaments and documents. You can also apply for HDFC Bank Gold Loan online at Dialabank’s digital platform for better convenience, lowest rates, and personalized assistance.
To renew your HDFC Gold Loan you will need to visit the Gold Loan branch with all the documents of your present loan. The Gold submitted earlier will be taken out and revalued on the basis of current gold rates in the market. Once everything is done a small renewal fee will be charged and your loan will be renewed for a new tenure period.
Gold Loan is one of the prominent loan product of HDFC Bank. The Gold Loan process in HDFC is very simple with minimal paperwork and quick disbursement. You can simply visit the nearest bank branch that has Gold Loan service or you can apply online at HDFC Bank’s official website. Alternatively, you can apply with Dialabank and get the lowest rates, better deals, and personalized assistance.
Gold Loan or Loan Against Gold in HDFC is a lending scheme through which you can get a loan by pledging your gold ornaments. The loan amount and interest rates are dependent on the purity of your gold and vary accordingly. HDFC Gold Loan is a very popular option for anyone who is in need of urgent money, the average disbursement time is 45 minutes.
HDFC is one of the leading banks in India that provides Gold Loan service. The Gold Loan scheme is loaded with attractive features. You can get HDFC Gold Loan by visiting any of the gold loan offering branch of HDFC or you can apply online with Dialabank from the comfort of your home and get best deals and offers.
In order to check your HDFC Gold Loan status all you need to do is visit the HDFC Bank Loan Status Tracker web page and fill in your details in the form given. You can easily track the status of your loan from anywhere and stay updated.
You can easily close your gold loan by visiting your HDFC Gold Loan branch along with all your documents. You will be required to clear all the pending dues and any foreclosure charges if applicable. Once the documentation process is completed your deposited gold will be returned back to you.
If you wish to continue your Gold Loan with HDFC even after the end of your loan tenure you can easily apply for a Gold Loan renewal. The renewal process of HDFC is very simple when the loan tenure is about to end, you need to visit your Gold Loan branch along with all the documents and the agreement of your present loan. The banker will then take the gold from the locker and a revaluation of the gold is done on the basis of current market rates. You will then be required to fill a simple renewal form and pay a minimal renewal fee of 0.25%. Your Gold Loan will then be renewed.
When you default on your HDFC Bank Gold Loan, the bank will at first remind you of your pending dues. If the payment requests go unheard an official legal notice is sent demanding the repayment and closure of the loan. Defaulting on your Gold Loan results in a decrease of your credit score and also makes you liable to face legal actions by the bank including confiscation and auction of your gold.
HDFC Bank is one of the best banks in India to avail a Gold Loan from. It has a network of more than 650 branches all over in India that provide Gold Loan services. The popularity of HDFC Bank’s Gold Loan can be attributed to a number of attractive features they provide including quick disbursal, competitive interest rates, and locker facility for the safety of your gold.
Table of Contents
- 1 About HDFC Gold Loan
- 2 Why HDFC Bank for Gold Loans?
- 3 HDFC Gold Loan Features & Benefits
- 4 HDFC Gold Loan Eligibility Criteria
- 5 Documents Required for HDFC Gold Loan
- 6 HDFC Gold Loan Interest Rate
- 7 How to Apply for HDFC Gold Loan?
- 8 How to Pay Your HDFC Gold Loan EMI?
- 9 Gold Ornaments Accepted by HDFC Bank for Gold Loan
- 10 Use of HDFC Gold Loan
- 11 FAQs About HDFC Gold Loan