IDFC Gold Loan Key Features – Apply Now
IDFC First Bank Gold Loan Interest Rate | 7.0% per annum |
IDFC First Bank Gold Loan Rate Per Gram
|
Rate Per Gram is ₹ 5,121 |
IDFC First Bank Gold Loan Processing Fee
|
1.0% of the Principal Loan Amount + GST
|
IDFC First Bank Gold Loan Amount |
Up to Rs. 1 Crore (With Income Proof)
|
IDFC First Bank Gold Loan Prepayment Charges
|
2%+GST (Within 3 Months), 0 (After 3 months)
|
IDFC First Bank Gold Loan Repayment Tenure
|
Up to 12 Months
|
IDFC First Bank Gold Loan Repayment Scheme
|
Bullet Payment Scheme, Overdraft Scheme
|
Each Feature Explained in Detail Below
Advantages of IDFC First Bank Gold Loan
- Lowest interest rates are available with IDFC First Bank
- The loan gets disbursed into your accounts within a few hours of applying
- The loan amount can be used as a multipurpose loan
- The gold jewellery is safely kept with the bank.
- Get the highest LTV for your gold ornaments.
- The bank charges a borrower up to .50% on the principal outstanding in case of a Gold Loan Foreclosure.
How Much Gold Loan Can I Get Through IDFC First Bank
According to the latest prices of gold, IDFC First Bank is offering gold loans per gram at ₹ 5121. The highest IDFC First Bank loan against gold rate per gram today is ₹ 5,121 for 24-carat jewelry calculated at a maximum LTV of 75% and average gold loan prices of the last 30 days in 2020 are ₹ 5,121 of 22 carats.
IDFC First Bank Gold Loan Per Gram-Update January 2021
Updated - Gold Loan Per Gram Rate w.e.f 1st Jan 2021
Gold Weight
Gold Purity
24 CaratGold Purity
22 CaratGold Purity
20 CaratGold Purity
18 Carat
1 gram
4680
4290
3900
3510
10 gram
46800
42900
39000
35100
20 gram
93600
85800
78000
70200
30 gram
140400
128700
117000
105300
40 gram
187200
171600
156000
140400
50 gram
234000
214500
195000
175500
100 gram
468000
429000
390000
351000
200 gram
936000
858000
780000
702000
300 gram
1404000
1287000
1170000
1053000
400 gram
1872000
1716000
1560000
1404000
500 gram
2340000
2145000
1950000
1755000
हिंदी में पढ़े | தமிழில் படியுங்கள்
About IDFC First Bank Gold Loan
IDFC First Bank is a private bank and an Indian Banking company, Headquartered in Mumbai. It is a private bank and was set up in October 2015. IDFC First Bank provides services like internet banking, credit cards, insurances, banking, and mortgage loan and wealth management.
Moreover, IDFC First Bank has 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Ahmedabad, as well as Kolkata.
IDFC First Bank Loan against Gold has certain benefits, such as quick processing time, low-interest rates, medium-term tenure, etc. Secondly, The IDFC First Bank Jewellery Loan can help you meet an urgent need for cash. Thirdly, Different gold assets are acceptable to get the Gold Loan at IDFC First Bank, but mostly the preferred gold type is jewellery and coins and not biscuits or bars.
IDFC First Bank of India offers loan against gold at contentious interest rates. Besides that, the pledged gold ornament is locked safely in the IDFC bank locker moreover the applicant doesn’t need to worry about gold safety.
- IDFC First Bank Gold Loan Interest Rate is 7.0% per annum
- IDFC First Bank Gold Loan Per Gram Rate is ₹ 5,121
- IDFC First Bank Gold Loan Tenure: Up to 12 months
- IDFC First Bank Gold Loan Processing Fee is Up to 1.0% of the Loan Amount + GST
IDFC First Bank Gold Loan Eligibility
The eligibility requirements for IDFC First Bank are as follows:
Age | 18-75 years |
Requirements |
Gold ornaments (18-22 carats)
|
CIBIL score | Above 500 |
Nationality | Indian |
IDFC First Bank Gold Loan Documents Required
The documents required to avail IDFC First Bank Gold Loan are:
Identity Proof |
Aadhar Card/Pan Card/ Passport/ Voter ID (Any one)
|
Residence Proof
|
Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card (Any one)
|
Agriculture Proof ( if applicable)
|
Agriculture Land Ownership Proof
|
Photographs |
2 Passport sized coloured
|
IDFC First Bank Gold Loan Interest Rates, Fees and Charges
IDFC First Bank 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 IDFC First Bank are lower in comparison to other loans because it is a fully secured loan.
IDFC First Bank Gold Loan Interest Rate | 7.0% per annum |
Processing Fee
|
1.0% of the Principal Loan Amount
|
Prepayment/Foreclosure Charges
|
2%+GST (Within 3 Months), 0 (After 3 months)
|
Valuation Fee |
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
|
Late Repayment Charges
|
2% p.a. + Applicable rate of interest.
|
Renewal Processing Fees
|
Rs 350 + GST |
Types of IDFC First Bank Gold Loan
- Agricultural purpose: loan against gold is offered by IDFC First Bank for agricultural purposes at a lower rate of interest.
- Non-Agricultural purpose: The rates of interest offered by IDFC First Bank are slightly higher for non-agricultural purpose loans.
Apply IDFC First Bank Loan Against Gold Online
The process of applying online is quite easy with DialaBank. Just visit the website and fill in details like name, location, contact number in the form available. The relationship manager will get in touch with you over your provided number regarding your application.
IDFC First Bank Gold Loan EMI Calculator
Rate of Interest | 6 months | 1 Yr | 2 Yrs | 3 Yrs |
7.00% | 17008 | 8652 | 4477 | 3088 |
8.00% | 17058 | 8699 | 4523 | 3134 |
8.50% | 17082 | 8722 | 4546 | 3157 |
9.00% | 17107 | 8745 | 4568 | 3180 |
9.50% | 17131 | 8678 | 4591 | 3203 |
10.00% | 17156 | 8791 | 4614 | 3227 |
10.50% | 17181 | 8815 | 4637 | 3250 |
11.00% | 17205 | 8838 | 4661 | 3274 |
11.50% | 17230 | 8861 | 4684 | 3298 |
12.00% | 17254 | 8885 | 4707 | 3321 |
12.50% | 17279 | 8908 | 4731 | 3345 |
13.00% | 17304 | 8932 | 4754 | 3369 |
13.50% | 17329 | 8955 | 4778 | 3393 |
14.00% | 17354 | 8979 | 4801 | 3418 |
14.50% | 17378 | 9002 | 4825 | 3442 |
15.00% | 17403 | 9026 | 4845 | 3466 |
How to Pay Your IDFC First Bank Gold Loan EMI?
Your IDFC First Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with IDFC First Bank, Standing Instruction is the best method of repayment.
- Electronic Clearing Service (ECS): This mode can be utilised if you have a non-IDFC First Bank account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
Gold Loan agent Contact Number
For any assistance in case of the gold loan required you may contact on the number 9878981144.
Gold Ornaments Accepted by IDFC First Bank
Any form of gold jewellery is accepted by the bank as collateral.
The quality of gold should lie between 18 Carat to 22 Carat.
Use of IDFC First Bank Gold Loan
The funds acquired by availing the IDFC First Bank Gold Loan service can be used for a number of purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, and etc.
- For all your business needs such as buying raw material, expansion of business, and 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.
IDFC First Bank Agricultural Jewel Loan Scheme
Scheme | IDFC First Bank Agricultural Jewel Loan Scheme |
Interest Rate | Starting from 7% (depends on the sum of the loan |
Least amount of Loan | Depends on the value of jewel which is being kept as security |
Loan period | Adjustment of advance sum inside 2 months from the date of reap of yields |
Benefits of IDFC First Bank Agricultural Jewel Loan Scheme
- IDFC First Bank does not charge a processing fee up to ₹ 25,000
- 0.30% of the loan amount, Minimum of ₹ 300 is charged to the amount ranging from above ₹ 25,000 – less than ₹ 5 lakh
- 0.28% of the credit sum, subject to at least Rs.1,500 is applicable to the amount more than Rs.5 lakh however under Rs.1 crore
IDFC First Bank Gold Loan Overdraft Scheme
IDFC First Bank offers an Overdraft Scheme. With this, the loan amount is provided as an overdraft facility. It functions as a Credit Card, where you can spend your Gold Loan Amount as per your wishes, anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Muthoot Finance Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
FAQs About IDFC First Bank Gold Loan
✅ What is IDFC First Bank Gold Loan?
IDFC First Bank Gold Loan is a scheme through which you can avail quick disbursing loans against your Gold ornaments. Maximum funding of 75% of your gold’s market price with a competitive rate of interest can be availed by visiting the nearest bank branch.
✅ How can I get Gold Loan?
You can avail Gold Loan in a hassle-free and straightforward process:
- Fill in your vital information in the form available on Dialabank.
- Our trained Relationship Manager will get in touch with you within 30 minutes.
- We will suggest you the loan according to your personal requirements, in your specific city.
- Visit the assigned branch of the bank.
- Get the loan sanctioned in just 30 minutes.
✅ How much Gold Loan can I get per gram in IDFC First Bank?
Per gram rate of Gold Loan varies depending on your Gold’s purity. The IDFC First Bank offers Rs 5,121 for per gram gold.
✅ How does IDFC First Bank Gold Loan work?
The IDFC First Bank Gold Loan is a secure credit availing service available for those who have urgent cash requirements and can pledge gold ornaments as collateral security. Once the gold pledged with the bank is valued, the bank processes the loan amount in your indicated account immediately. Various repayment options are available for repaying the loan.
✅ What is the Gold Loan interest rate in IDFC First Bank?
The rate of interest for Gold Loan in IDFC First Bank starts from 7.0% per annum depending on the weight and purity of the pledged gold.
✅ How to check IDFC First Bank Gold Loan status?
IDFC First Bank Gold Loan status can be easily checked by contacting your loan officer.
✅ How to calculate Gold Loan Interest in IDFC First Bank?
You can easily calculate the gold loan interest rate in IDFC First Bank by subtracting the principal amount from the total sum to be paid.
✅ What is the maximum loan amount I can avail on Gold Loan from IDFC First Bank?
You can get a maximum amount of Rs 1 crore on a IDFC First Bank Gold Loan as the bank offers around 75% of the gold ornaments’ market value.
✅ What is the loan tenure of IDFC First Bank Gold Loan?
The maximum tenure of your IDFC First Bank Bank Gold Loan is up to 12 months. However, you’ll be required to renew your loan plan after a year.
✅ How much Processing Fee is applicable on IDFC First Bank Gold Loan?
A processing fee of up to 1% of the loan amount or ₹1000 whichever is higher is charged.
✅ How to renew IDFC Bank Gold Loan?
You can renew your IDFC First Bank Gold Loan by visiting the loan branch with your loan documents. A small renewal fee might be charged and after the revaluation of your pledged gold, the loan will be renewed for another term.
✅ How to renew IDFC First Bank Gold Loan online?
IDFC First Bank Gold Loan can be renewed by visiting the branch and contacting the loan officer. You may be required to pay a renewal fee.
✅ What are the charges for renewal in IDFC First Bank Gold Loan?
Bank charges approximately Rs. 250- Rs. 500 for renewal of the gold loan.
✅ What are the charges for Prepayment in IDFC First Bank Gold Loan?
IDFC First Bank charges nothing for prepayment of the gold loan.
✅ How to pay IDFC First Bank Gold Loan Interest online?
You can pay IDFC First Bank through a Standing Instruction on your IDFC First Bank account or an ECS on another bank’s account for the automated deduction of EMIs.
✅ What if I can’t pay the interest on IDFC First Bank Gold Loan for 3 months?
If someone defaults on the payments of IDFC First Bank Gold Loan interest for 3 months, a penalty fee is charged on the total amount due and in case of repeated defaults, the bank will have the authority to auction your gold ornaments to recover the amount publicly.
✅ How can I apply for EMI Moratorium on IDFC First Bank Gold Loan?
You can apply for the IDFC First Bank Gold loan moratorium online by logging in with your credentials or by personally visiting the main branch. The moratorium request has to be submitted at least five working days before the due date of your EMI.
✅How to pay IDFC First Bank Gold loan through credit card?
As per RBI Guidelines, IDFC First Bank Gold loan cannot be repaid via credit cards. Other payments modes such as net banking, debits cards, cheques, DDs can be used for loan repayment.
✅What is the Overdraft Scheme for IDFC First Bank Gold Loan?
IDFC First Bank does provide an Overdraft Scheme and the overall loan amount will have a Credit/Loan Limit. In the IDFC First Bank Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
✅What is the IDFC First Bank Gold Loan closure procedure?
Once the loan is paid, the bank will close your gold loan immediately.
✅What is the IDFC First Bank customer care number?
The IDFC First Bank customer care number is 9878981144
✅ What is IDFC First Bank Gold Loan Preclosure charges?
There are no preclosure charges for the IDFC First Bank Gold Loan.
✅ What is the maximum gold loan tenure?
The maximum gold loan tenure is up to 36 months
✅ What is the minimum gold loan tenure?
The minimum gold loan tenure is 3 months.
✅ What are the foreclosure charges in IDFC First Bank Gold Loan?
The bank charges a borrower up to .50% on the principal outstanding in case of a Gold Loan Foreclosure
Table of Contents
- 1 IDFC Gold Loan Key Features – Apply Now
- 2 Advantages of IDFC First Bank Gold Loan
- 3 How Much Gold Loan Can I Get Through IDFC First Bank
- 4 About IDFC First Bank Gold Loan
- 5 IDFC First Bank Gold Loan Eligibility
- 6 हिंदी में पढ़े | தமிழில் படியுங்கள்
- 7 IDFC First Bank Gold Loan Documents Required
- 8 IDFC First Bank Gold Loan Interest Rates, Fees and Charges
- 9 Types of IDFC First Bank Gold Loan
- 10 Apply IDFC First Bank Loan Against Gold Online
- 11 हिंदी में पढ़े | தமிழில் படியுங்கள்
- 12 IDFC First Bank Gold Loan EMI Calculator
- 13 How to Pay Your IDFC First Bank Gold Loan EMI?
- 14 हिंदी में पढ़े | தமிழில் படியுங்கள்
- 15 Gold Loan agent Contact Number
- 16 Gold Ornaments Accepted by IDFC First Bank
- 17 Use of IDFC First Bank Gold Loan
- 18 IDFC First Bank Agricultural Jewel Loan Scheme
- 19 Benefits of IDFC First Bank Agricultural Jewel Loan Scheme
- 20 IDFC First Bank Gold Loan Overdraft Scheme
- 21 FAQs About IDFC First Bank Gold Loan
- 21.1 ✅ What is IDFC First Bank Gold Loan?
- 21.2 ✅ How can I get Gold Loan?
- 21.3 ✅ How much Gold Loan can I get per gram in IDFC First Bank?
- 21.4 ✅ How does IDFC First Bank Gold Loan work?
- 21.5 ✅ What is the Gold Loan interest rate in IDFC First Bank?
- 21.6 ✅ How to check IDFC First Bank Gold Loan status?
- 21.7 ✅ How to calculate Gold Loan Interest in IDFC First Bank?
- 21.8 ✅ What is the maximum loan amount I can avail on Gold Loan from IDFC First Bank?
- 21.9 ✅ What is the loan tenure of IDFC First Bank Gold Loan?
- 21.10 ✅ How much Processing Fee is applicable on IDFC First Bank Gold Loan?
- 21.11 ✅ How to renew IDFC Bank Gold Loan?
- 21.12 ✅ How to renew IDFC First Bank Gold Loan online?
- 21.13 ✅ What are the charges for renewal in IDFC First Bank Gold Loan?
- 21.14 ✅ What are the charges for Prepayment in IDFC First Bank Gold Loan?
- 21.15 ✅ How to pay IDFC First Bank Gold Loan Interest online?
- 21.16 ✅ What if I can’t pay the interest on IDFC First Bank Gold Loan for 3 months?
- 21.17 ✅ How can I apply for EMI Moratorium on IDFC First Bank Gold Loan?
- 21.18 ✅How to pay IDFC First Bank Gold loan through credit card?
- 21.19 ✅What is the Overdraft Scheme for IDFC First Bank Gold Loan?
- 21.20 ✅What is the IDFC First Bank Gold Loan closure procedure?
- 21.21 ✅What is the IDFC First Bank customer care number?
- 21.22 ✅ What is IDFC First Bank Gold Loan Preclosure charges?
- 21.23 ✅ What is the maximum gold loan tenure?
- 21.24 ✅ What is the minimum gold loan tenure?
- 21.25 ✅ What are the foreclosure charges in IDFC First Bank Gold Loan?