hdfc gold loan

IDFC First Bank Gold Loan

Unlock the Real Value of your Gold
Lowest Rate of Interest
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

IDFC Gold Loan Key Features

Loan Amount
Up to Rs. 1 Crore (With Income Proof)
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
Processing Fee
1.0% of the Principal Loan Amount + GST
Prepayment Charges
2%+GST (Within 3 Months), 0 (After 3 months)
Repayment Tenure
Up to 12 Months
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.

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

Updated - Gold Loan Per Gram Rate
Gold Weight Gold Purity
24 Carat
Gold Purity
22 Carat
Gold Purity
20 Carat
Gold 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

gold loan at 7%

About IDFC First Bank Gold Loan

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

gold loan at 7%

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.

gold loan at 7%

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.

  1. Standing Instruction (SI): If you are a current record holder with IDFC First Bank, Standing Instruction is the best method of repayment.
  2. 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 at 7%

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.
    gold loan at 7%

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 First 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.

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