Federal Bank Gold Loan

1. Instant Disbursal- Get instant sanction and hassle-free processing

2. Low Interest Rates- Gold loan interest rates starting from 8.50%

3. Minimal Documentation- Minimal paperwork and quick disbursement of loan amount

4. Flexible Repayment Options- You can either choose to pay the amount lump sum or in EMIs

5. Higher per Gram Rates- Maximum amount per gram is up to 85% of the gold price

Federal Bank provides 3 different gold loan schemes- General Gold Loan, Digi Gold Overdraft and Agriculture Gold Loan. The loan amount and interest rate vary from one scheme to another. You should read about each scheme in detail and choose the one that best suits your needs.

1. Digi Gold Loan

With Digi Gold Loan Scheme, you can withdraw up to 75% of the value of the gold whenever you are in need of funds.

Key Highlights

• Interest Rate- 8.50% onwards (Interest is charged only for the amount utilized)
• Loan Amount- Minimum: Rs.1,000 ; Maximum: Rs.1.5 crore
• Tenure- From 6 months to 12 months
• Processing Fee- Up to 0.25% of the limit
• Security- Security for the loan will be pledge of 22 Carat gold ornaments
• Other Features-
  • Gold loan with ATM card, Mobile Banking & Net Banking facilities
  • You can Release/Replace Gold Ornaments during the loan tenure
  • You can Shop Online, Transfer funds and make Bill Payments directly from the loan amount
  • Overdraft Facility available

2. General Gold Loan

With the General Gold Loan Scheme, you can get a maximum amount per gram rate which is up to 85% of the gold price.

Key Highlights

• Interest Rate- 8.50% onwards
• Loan Amount- Minimum: Rs.1,000 ; Maximum: Rs.1.5 crore
• Tenure- From 6 months to 12 months
• Processing Fee- Nil
• Security- Security for the loan will be pledge of 22 Carat gold ornaments

3. Kisan Gold Scheme / Agricultural Loan Against Gold Ornaments

This scheme is specifically made for individual farmers. 

Key Highlights

• Interest Rate- 8.50% onwards
• Loan Amount- Minimum: Rs.1,000 ; Maximum: Rs.1.5 crore
• Tenure- From 6 months to 12 months
• Processing Fee- Rs.250 to Rs.1,500
• PF / Admin Fee- Rs.100 to Rs.1,300
• Prepayment options and charges- Nil
• Penalty for Delayed Payment- 2% applicable on all overdue accounts above Rs.25,000

The gold loan interest rate offered by Federal Bank is as follows-

Note: The interest rate varies from one gold scheme to another. Also, the rates vary according to the required loan amount, overall profile of the borrower and the bank’s internal policies.

Use our Gold Loan EMI Calculator to check the amount of EMI you will need to pay on your Federal Bank gold loan. To calculate your EMI, follow the below mentioned steps:

• Step 1: Click here to go to Paisabazaar’s Gold Loan EMI Calculator
• Step 2: Enter the loan amount, interest rate and loan tenure

Once you fill the above-mentioned details, you will be able to see the EMI amount on the right side of the screen.

EMI Calculator is a great tool to help you compare and decide on different gold loan offers. By comparing different EMIs on different values of loan amount, interest rate and loan tenure, you can choose the one that suits you the best.

Apart from interest rate and processing charges on gold loan, Federal Bank levies other fees and charges as mentioned below-

Safe Custody Charges for Gold loans 

Appraiser Charges for Gold Loans

Penalty Charges for delayed repayment for Gold loans 

Eligibility Criteria- Any Individual above 18 years of age having steady flow of income can avail Federal Gold Loan. The loan can be availed for personal, business and agricultural purposes.

Documents Required- If you are an existing customer, no extra documents are needed. If you are a new customer, following documents will be required:

• Proof of Identity (Aadhar card/Passport / Voters ID card/ Driving License/PAN Card)
• Recent Passport size photograph
• Address Proof (Aadhar card/Ration card / Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)

To avail the loan, you can visit any of the Federal Bank branches. 

Federal Bank, in association with Rupeek Fintech Pvt Ltd, offers doorstep delivery of gold loan wherein your gold jewellery is valued at home and safely taken to the bank. The service is available in selected cities only- Mumbai, Chennai, Coimbatore, Bangalore, Hyderabad, Pune, Ahmedabad, New Delhi & Kolkata.

To know more about Federal Bank gold loan in association with Rupeek, click here

Federal Bank Gold Loan comes with flexible repayment options which you can choose as per your convenience. You can either pay lump sum principal at the end of tenure along with accrued interest or pay in regular EMIs monthly/quarterly.  Follow the below mentioned steps-

Step 1- Click here to visit the official website of Federal Bankand scroll down to the end.

Step 2- Under ‘useful link’, click ‘Quick EMI’ option.Step 3- On the next page, enter your loan account number in the column provided.

Step 4- Enter the OTP received on the registered mobile number. You will be able to see the loan amount and respective amount due.

Step 5- Select the preferred payment mode from the list of different payment options and complete the payment process.

Refer to the table below to compare Federal Bank Gold Loan interest rate and loan amount with other lenders.

What is Federal Bank Gold Loan customer care number?

In case you have questions or queries, you just need to call the toll free number 1800-425-1199 or 1800-420-1199. 

How much gold loan can I avail from Federal Bank?

You can get up to Rs.1.5 crore gold loan from Federal Bank.

Can I get some of the jewellery back if I make partial payment?

Your gold jewellery will be returned to you once you have paid back the full amount. 

What type of gold can I pledge to avail the gold loan?

You can pledge any type of gold jewellery/gold ornaments.

What is the minimum limit on Federal Bank gold loan?

The minimum amount of our gold loan range is Rs. 1,000.