HDFC Bank gold loan is offered under the name of ‘Sampoorna Bharosa Gold Loan’, which is available instantly from any of the HDFC’s Bank branch or via online. With the help of a gold loan, one doesn’t need to worry about cash shortages as the gold possessed by anyone can be pledged to take a loan. The cash received can be used for any sort of business purpose like purchase of an asset or paying off a liability or for working capital requirements. However, the loan amount cannot be used to buy gold coins or jewellery or for any other speculative purposes as it is prohibited by the bank that is issuing the loan.
Features of HDFC Bank Gold Loan
- Interest rates are competitive with special offers and rates for existing account holders of the bank. Moreover, Preferred, Imperia, Classic and Women customers are also given special and preferential interest rates.
- Loan sanction and disbursal process is fast and simple.
- HDFC bank offers term loan, overdraft facility, and EMI based option to their borrowers along with competitive interest rates
The loan can be repayable either by way of bullet repayment or by EMI.
Note: Bullet repayment is where the borrower repays the principle amount along with the interest charged at the end of the tenure.
HDFC Gold Loan Interest Rate & Eligibility Criteria
Anyone over the age of 18 and owns gold ornaments can avail gold loan from HDFC. However, the amount of loan sanctioned to you will depend on the purity and quality of the loan you have brought. Other parameters related to HDFC Gold Loan which one should know before availing HDFC gold loan are given below:
|Min Loan Amount||Rs.10,000 (In rural market)|
|Tenure||3 months-24 months|
|Loan Processing Charges||1.5%+GST|
Documents Required for availing the Gold Loan
To avail HDFC Gold loan, one needs to complete the KYC by submitting any one of the following documents:
- Valid driving license
- Voter’s ID card
- Aadhaar card
- PAN card
How to Apply Online For HDFC Gold Loan?
Listed below are the steps to apply gold loan via online:
- Visit the official website of HDFC bank. On the right side, under ‘What are you looking for’, select ‘Loans’ from the drop down menu of ‘Select product type’.
- Next, Select the gold loan from the drop down menu. Click Apply online
- On the next page, fill up the form by entering your personal details. Click Submit.
- After submitting your information,a representative from HDFC bank will call you
- Post this, your loan application form will be collected and on the basis of documents you have provided, your loan eligibility will be determined.
Another way to apply online is to connect with EVA-Online customer support.
Visit the official website of HDFC bank. On the right bottom side, click ‘Ask EVA’ and enter ‘Apply for Gold Loan’. Next, enter your personal details.
How much loan I can get against my Gold Jewellery?
Below table will give you an indicative value about how much gold loan to expect against your gold jewellery as per the purity of the gold:
|24K (Loan Amount)|
|Grams of Gold (QTY|
How to Repay HDFC Gold Loan?
One can pay their Gold loan EMI through the following modes:
Phone Banking: Customer needs to call the customer care of HDFC bank between 8:00 AM to 8:00 PM for putting across his request for payment. To know the customer care number as per your city, either click here or click on this link http://www.hdfcbank.com/personal/find-your-nearest/find-phone-banking
Online-If you have missed your billed EMI, you can pay that amount online through the following steps:
- Visit the official website of HDFC. From the top headers, hover your mouse on Pay and select loan repayment
- Next, click Pay online. This line will take you to the main payment page.
- Click ‘I agree’ and on ‘Pay’ to proceed further
- On the next page, enter your 8 digit loan account number and date of birth and click Proceed
- Make your overdue payments from your bank’s internet login
- Customer would get the online receipt and SMS confirmation confirming your transaction
How to Foreclose my HDFC Gold Loan Account?
If one has opted for bullet repayment loan repayment mode, i.e, paying principal amount as well as interest at the end of the tenure, then your gold loan account will be closed on maturity after paying the total amount. However, in case of other loan repayment methods, one can close their HDFC Gold loan account after three months from the date of sanction of the loan.
Note: If you foreclose your account within 3 months then one needs to pay foreclosure charges of 2%+GST. No charges will be levied if you close the account after 3 months.
If you have any query related to the gold loan, you can connect with their customer care through the following mediums:
- Toll-free number
|For Ahmedabad / Bangalore / Chennai / Delhi & NCR / Hyderabad / Kolkata / Mumbai / Pune||61606161|
|Chandigarh / Cochin / Indore / Jaipur / Lucknow||6160616|
Note: One needs to add the STD code of the respective location before dialing the number
- Ask EVA: Another option to get customer support is to avail online customer support service called “Ask EVA” which is available on their homepage.
While availing a gold loan from HDFC, borrower should keep following aspects in mind and they are:
- Approval of loan amount will be done after the verification of the gold and other documents that you submit
- HDFC Gold loan can be granted for agricultural, business and personal purposes. It cannot be availed for purchase of gold coins, jewellery, land or any speculation.
- One cannot foreclose their HDFC bank gold loan account online and needs to visit the branch office to do the same
How long does it take to process HDFC Gold Loan?
HDFC Gold Loan is unusually disbursed within one hour but can take more time if documents are not in order.
I have a savings account with another bank; can I make online payment with HDFC bank?
Yes, when you proceed with ‘Pay online’, browse your bank through the drop down menu available for online payments. If your bank is open to pay online transactions, you will be able to make payment through your other bank account at HDFC bank website. However, you should have a net banking facility available with your bank.
Can I pay part EMI towards my loan account?
No, the EMI amount payable should be either multiples of your current EMI or equivalent to total EMI due.