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Gold Loan

Axis bank gold loan offers a quick and hassle free financial solution to those who are in sudden financial exigency and own any gold ornament. The Gold Loans offered by Axis bank is available with multiple payment option and longer tenure. The Two variants of Gold Loan Schemes offered by Axis bank are: Axis Gold Loan and Axis Power Gold Loan.

Axis Bank Gold Loan Interest Rate

Interest Rate

Starting from 14.50% to 17%

Gold Loan Processing Fees

1% of loan sanctioned

Repayment Period

6 months to 3 years

Min./Max. Loan Amount

Rs.25001/Rs.20 lakhs

Prepayment Charges

ZERO

Penal Charges

2% over original loan interest rate on overdue amount

Axis Gold Loan Scheme

  • High quantum of Loan amount from minimum Rs.25001 up to Rs 20,00,000/-
  • The Loan is offered against pledged Gold Ornaments
  • The tenure for axis bank gold loan is between 6 months to 36 months
  • The gold loan in Axis Bank is offered only against gold jewellery and no loan is provided against gold coins.
  • Having a co-applicant is not mandatory while applying for axis bank our Loan Against gold.
  • Same day disbursal of gold loans post receiving the loan application and all the requisite documents and Gold jewellery as pledged security.
  • A non-refundable charge in form of processing fee and Valuation fee is applicable for every Gold Loan application.
  • Axis Bank calculates simple interest on Gold Loan
  • Quick and hassle free processing with same day Loan sanction.
  • The loan is available to anyone aged between 18 years and 75 years
  • The minimum amount offered on Axis Bank Gold loan is Rs.25,001 up to Rs. 20 lakhs.
  • Axis bank ensures safety of the Gold at bank’s vaults and state of the art security systems.
  • Customer may earn eDGE loyalty points over the Gold Loans availed from axis bank
  • 150 reward points when applicant takes a gold loan
  • Currently the Rate of Interest on Axis bank gold loan is between 14.50% up to  17.00%

Quantum of Loan

  • The key factors for considering quantum of loan in axis bank are
  • Applicant’s requirement and the gross valuation of Gold excluding value and weight of ant stone attached
  • Applicant’s repayment capacity
  • Any existing relationship with axis bank.

Applicable Fees & Charges

  • 1 % Processing Fee & Nil Foreclosure charges
  • Rs. 500 /- as Valuation charges
  • Other Charges such as Part Payment charges is Nil and the Penal Interest for any Emi default is 2% on overdue amount per month.

Interest Rate

  • Axis banks offers gold loan on interest rate for both option i.e. fixed and floating rate.
  • The Interest rate varies between 14.50% and 17%.
  • The interest component includes various components such as Rate of interest i.e. fixed rate or floating rate and is finally computed on factors such as amount of loan availed , existing relationships of customer with the bank etc
  • The Mean rate offered is the sum of rate of interest offered of all loan accounts divided by the number of total loan accounts.
  • The APR (Annual Percentage Rate ) is a way to derive annualized cost of credit including interest rate and the loan origination fee.

Repayment Option

  • Axis Bank provides customers with two options towards the repayment of their gold loan. Applicant may opt for the most convenient option as per their choice.
  • Upfront Interest payment and principal repayment on the maturity date
  • Interest payment on monthly basis and principal repayment on the maturity date
  • EMI (Equated monthly Installment) payment option

Part-Payment & Foreclosure

Axis bank understands the value and emotional attachment one holds with their gold. Keeping this in mind, the bank offers part payment and pre payment option for their gold loan products . Customer may either partially or fully closes their loan account and retain the gold ornaments back. Customers can make the part-prepayment for a min amount Rs. 10000/- towards their Gold Loan account, thrice the entire tenure   . Part payment can be done by visiting any of the nearest Bank Branch offering Gold loans. No part payment charges are currently be levied for part-prepayment of gold loan


For pre closure customer should clear all outstanding dues as on date. Customers are requested to first check and clear any of the remaining due amount that he /she is liable to pay towards the loan account. This can be done by obtaining a foreclosure statement for their Loan account. 

Post clearance of all outstanding dues customer may submit a Pre-Closure request at bank branch from where customer has availed the loan against gold Branch.


Documents Required

  • Duly Signed Loan Application Form
  • 2 recent Passport Sized colored Photographs
  • Identity and address proof and signature proof
  • Pan card or Form 60
  • Proof of age
  • Post Disbursement Documents (if any)

Axis Power Gold Loan Scheme

Axis Bank's Power Gold Loan is a distinctive gold loan offered to cater the financial exigency of those individuals who are either directly engaged in agricultural activities or any allied agricultural activities. The loan is offered on easy terms against gold ornaments.


The key Feature of Axis Power gold loan is:

  • Higher loan amount on per gram of the gold
  • Attractive rates of interest
  • Quick disbursal with Minimum documentation
  • Suitable repayment schedule
  • Quick disbursal through direct Account Credit /RTGS/ NEFT or Demand Draft.
  • For loan amount up to 1 lakh, Cash Disbursal for Customer holding Non Axis Bank SB Account

Eligibility Criteria

The loan is available to Individuals either directly engaged in agricultural activity or any allied agricultural activities.


Loan Amount

  • The Minimum loan amount is Rs 25,000/-
  • The Maximum loan amount offered on Axis power gold loan is Rs 20,00,000/-

Disbursement

  • For Loans amount up to Rs 50,000/- , disbursement is done vide Cash or Crossed pay-order or direct Remittance into applicant’s savings account.
  • For Loans amount more than Rs 50,000/- , disbursement is done through direct remittance or crossed pay order favoring applicant's savings account.
  • No primary security required, however the Pledge of gold ornaments is acceptable as collateral for the loan.

Purpose of Axis Bank Power Gold

Axis Bank's Power Gold Loan is primarily offered to cater the financial exigency of those individuals who are either directly engaged in agricultural activities or any allied agricultural activities. Such purpose could be any of the below mentioned activities.

  • Loans to farmers for farm and farm credit. -  this is given for buying agricultural machines and other accessories, loan is also given for irrigation purposes or any other development that may be needed in the farms for agricultural development, etc.
  • Loans to farmers for activities that may be needed for pre harvest as well as post-harvest in terms of sorting or grading or even harvesting, etc.
  • Even smaller quantity loans are provided to farmers for development of agricultural land after purchase of the same. This includes landless agricultural laborers, tenant farmers, oral lessees and share croppers The definition for farmer is considered against total area of land holding.
    1. Marginal farmer - Land up to 2.5 acres
    2. Small farmer - Land > 2.5 acres and up to 5 acres
    3. Other farmer - Land > 5 acres
  • Loans to distressed farmers indebted to non-institutional lenders
  • Ancillary/ Allied Activities such as for setting up of Agri-clinics and Agri-business Centre

Repayment of the Axis Power Gold Loan

  • The maximum repayment period offered for axis bank power gold loan is 12 months.
  • The various repayment options offered to customer are
  • Upfront Interest payment and principal repayment on the maturity date
  • Interest payment on monthly basis and principal repayment on the maturity date
  • EMI (Equated monthly Installment) payment option

Part-Payment & Foreclosure

Axis bank understands the value and emotional attachment one holds with their gold. Keeping this in mind, the bank offers part payment and pre payment option for their gold loan products . Customer may either partially or fully closes their loan account and retain the gold ornaments back. Customers can make the part-prepayment for a min amount Rs. 10000/- towards their Gold Loan account, thrice the entire tenure   . Part payment can be done by visiting any of the nearest Bank Branch offering Gold loans. No part payment charges are currently be levied for part-prepayment of gold loan


For pre closure customer should clear all outstanding dues as on date. Customers are requested to first check and clear any of the remaining due amount that he /she is liable to pay towards the loan account. This can be done by obtaining a foreclosure statement for their Loan account. 

Post clearance of all outstanding dues customer may submit a Pre-Closure request at bank branch from where customer has availed the loan against gold Branch


Applicable Fees & Charges

  • 1 % Processing Fee & Nil Foreclosure charges
  • Rs. 500 /- as Valuation charges
  • Other Charges such as Part Payment charges is Nil and the Penal Interest for any Emi default is 2% on overdue amount per month.

Interest Rate

  • Axis banks offers gold loan on interest rate for both option i.e. fixed and floating rate.
  • The Interest rate varies between 14.50% and 17%.
  • The interest component includes various components such as Rate of interest i.e. fixed rate or floating rate and is finally computed on factors such as amount of loan availed , existing relationships of customer with the bank etc
  • The Mean rate offered is the sum of rate of interest offered of all loan accounts divided by the number of total loan accounts.
  • The APR (Annual Percentage Rate ) is a way to derive annualized cost of credit including interest rate and the loan origination fee.

Documents Required Availing Axis Power Gold Loan

  • Duly Signed Loan Application Form
  • 2 recent Passport Sized colored Photographs
  • Identity and address proof and signature proof
  • Pan card or Form 60
  • Proof of age
  • Post Disbursement Documents ( if any)
  • Demand Promissory Note.
  • Proof of occupation in agricultural or any allied agricultural activity.

In case the loan sanction amount exceeds INR 3,00,000/- , then the copy of records of land, tax receipts for land revenue, certificate issued by village council/panchayat towards agricultural and any allied agricultural activities is desirable.

Most Important Terms & Conditions

  • Axis bank holds the discretion to ensure proper and due assessment of the loan application as per the pre defined extant instructions and the credit policy of the bank.
  • The availability of sufficient margin and the security/collateral will not be an alternate for due diligence and creditworthiness of the applicant.
  • All the terms and conditions and other caveats will be duly communicated by an authorized official of the Bank to the customer in writing.
  • All the terms and conditions are duly informed in the loan application  form and the acceptance  from customer towards compliance of the  will be taken on the loan sanction letter along with the signature from customer under the caption "I/WE ACCEPT ALL THE TERMS AND CONDITIONS WHICH HAVE BEEN READ AND UNDERSTOOD BY ME/US".
  • A copy of the loan agreement along with all the enclosures quoted in the loan agreement will be furnished to the customer at the time of issue of the sanction letter.
  • The valuation of gold ornament is done by an independent assayer empanelled by the bank and the loan amount shall be determined by the bank on the basis of the value of the gold as set out in the valuation report supplied by the assayer.
  • Such value is subject to the market price of the gold security from time to time and customer shall be duly informed in any change of such security value of the gold.
  • Customer has the option to request for renewal or enhancement of the gold loan which the bank may grant or reject at its sole and absolute discretion. The top up loan is subject to continuation of pledge over gold security in favor of the axis bank and provision of such other security and in such form as the bank may require.
  • Any variation in the rate of interest for top up loan cases shall be duly informed while applying for the loan.
  • The interest calculation is done on the basis of the outstanding balance method and on 365 days. Customer shall have the provision to opt for repayment of interest amount on front end basis, monthly basis, EMI basis, half yearly basis or rear end basis.
  • The gold security and other security furnished by the customer shall be released only upon payment in full and any liable dues by the customer to Axis bank.
  • In case the value of gold security fall below than the required margin of the bank as applicable from time to time , without prejudice to the right to declare on event of default , the bank shall intimate the customer in writing at least 7 days prior of selling the gold security.
  • The loan sanction letter  and  loan agreement documents clearly mention that all the credit facilities offered by Axis bank will be extended only & solely at the full discretion of the Axis Bank
  • The disbursement of loan amount is done immediately post compliance of all the required terms and conditions of the loan sanction by the applicant  
  • Any futuristic changes in the terms & conditions of the Gold loan sanction such as interest applied and fees & charges will be duly notified to the Applicant prior effecting the changes.
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