IDBI Bank Gold Loan

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Unlock the Real Value of your Gold

Rates as low as 1% p.m.
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

About IDBI Bank Gold Loan

IDBI Bank Gold Loan

IDBI Bank offers loan against gold at contentious interest rates. IDBI bank as one of the major gold loan providers understand the needs of the customers and disburse the loan amount in one hour. The pledged gold is locked safely in the vault and the borrower does not have to worry about its safety. The gold rates and all other charges are announced to borrower upfront in a transparent manner before sanctioning the loan amount. Hence borrower does not have to worry about the hidden charges and fees on their gold loan.

Gold Loan

Gold loan is a loan in which a borrower can get a loan against gold. Gold loan is a type of secured loan. In the gold, loan bank will take borrower’s gold in order to give a loan to the borrower. Bank will deposit a borrower’s gold as a security.  Bank will take the full responsibility of borrower’s gold.

Features of IDBI Bank Gold Loan

  1. IDBI Bank India gold loan is very easy to apply. One can apply for the gold loan online within a few minutes.
  2. If a borrower is eligible, the loan can be approved within 5 minutes.
  3. After the approval of the gold loan, if the borrower has its complete documents it can be disbursed quickly.  One can say it can be disbursed within a period of a few hours.
  4. The responsibility of the gold is all at the bank’s end. Borrower’s gold assets will be kept under very tight and fireproof security.
  5. The rates of interest provided by the bank are quite affordable.
  6. The documentation process is very easy and simple.
  7. Bank will not ask the reason behind the gold loan, one can use this loan amount according to their needs.

Uses of IDBI Bank Gold Loan

  1. The borrower can use the amount of loan wherever one wants. Following are some basic reasons given for which one can get the gold loan.
  2. Most people use the gold loan for the wedding purposes.
  3. Sometimes one can prefer to get a gold loan in case of a medical emergency.
  4. Education can also be a reason for the usage gold loan.
  5. One can also boost their business by using the gold loan.
  6. The customer can get a gold loan to pay the bills related credit cards.

Who can get IDBI Bank Gold Loan?

  1. Any salaried individual.
  2. Any self-employed.
  3. Housewives/homemaker
  4. Students (age should more than 18 years)
  5. A farmer

Form of Gold

  1. Any jewelry carries with the quality of 18 carats to 22 carats is acceptable.
  2. Gold coins weigh less than 50 grams can get a gold loan.
  3. Bank does not accept minted/forged gold coins.
  4. Bars and bricks are not acceptable.
  5. Raw gold is not acceptable.

Documentation Required for IDBI Bank Gold Loan


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Know your customer

Identity Proof

Aadhar Card, PAN Card, Voter ID Card, Passport or the Driving License.

Residence Proof

Aadhar Card/ PAN Card/ Voter ID card/Passport /Driving License

Note: IDBI Bank can ask for additional documents as per the needs and requirements.

IDBI  Bank Gold Loan Interest Rates

The rate of interest starts at 11.5% and can go up to 15.5% per annum. Prepayment charges are 1% and the tenure of the loan is from 3 to 12 months.

Note: Interest rate mentioned here are updated with rates expected to change.

How to apply?

You can apply for a gold loan at union bank of India online on very easily. One just has to fill a simple application form providing basic information with an individual’s contact number. Customer will get a call back with all the assistance and guidance.

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