Introduction of GOLD LOAN:
Gold loans have become a popular and easy choice in India in the time of quick need of money. Axis Bank, a major player in the banking sector, offers a gold loan facility with many benefits in a smooth way. So let’s discuss the several benefits and about the necessary requirements to avail gold loan from any branch of AXIS BANK.
A gold loan is a secured loan with interest starting from 13.50 % per annum .As it is a secured loan the interest is lower in compared to a personal loan and most importantly the process of disbursement is very smooth and easy. It takes between 1 and 2 hours to complete the bank’s internal process till disbursement.
Advantages in flexible tenure and amount
One can take loan amounts ranging from 25,001 to Rs. 25,00,000 based on the gold quality and quantity. Repayment tenure is flexible from 6 to 36 months
Gold loan processing at Branch
The process of a gold loan is very easy and smooth. The process is very transparent which includes Valuation from a registered gold loan expert, Verifying documents by bank executive, and lastly packaging of the gold in a sealed gold pouch. Anyone who is in need can easily visit any nearest Axis Branch to avail and inquire about the gold loan. In the documentation part bank requires KYC documents of the applicant such as voter ID, Aadhar card, PAN card or passport,1 copy passport size photo along with 100 Rs stamp paper.Sometimes Agricultural land records may required but it is not mandatory.
Secure Storage for Your Gold:
Your ornaments,coins whatever you have provided to avail the loan are kept in a secured vault of the bank in a seal packed gold pouch having individual bar code and serial number printed on it.In general the vault is fire and waterproof.
Gold Loan Calculator for Easy Estimation:
Axis Bank having a gold loan calculator on their official website to calculate the estimation. It requires inputs such as ornaments type, gold loan carate and net weight of the gold
Frequently Asked Questions (FAQs):
How quickly is the loan disbursed?
The loan amount is disbursed on the same day of loan approval, ensuring a hassle-free process.
Which documents are required for a gold loan at AXIS BANK?
Submit KYC documents, including PAN card, Aadhaar card, and Agricultural Land records if applicable.
One copy of passport-size photo and one Rs. 100 stamp paper are also required.
Can I choose my repayment tenure?
Yes, customer can select their repayment tenure as per their convienience
What is the maximum loan-to-value ratio?
The maximum loan to value ratio calculated is 75% based on the value of the gold and quality of the gold.
Is there a processing fee?
Yes, Processing fee is 0.5% of the total loan amount is charged by the bank
How to ensure the security of my gold?
Axis Bank provides 100% security of your gold which kept in a fire proof vault.
Can farmers avail of Axis Bank’s gold loan?
Yes, there is a special gold loan scheme for farmers who want to take gold loans with a lower interest rate.
Where can I apply for a gold loan?
You can apply gold loan by visiting any branches of AXIS BANK
How is the loan amount calculated?
Loan amount calculated after valuation ,after cheaking the gold quality and net quantity as advised by the valuer
What are the interest rates and charges?
Interest rate starts from 13.50% per annum and there is a different rate for farmers
In Conclusion:
Need a quick fix for your short-term financial needs? Look no further than Axis Bank’s gold loan. Enjoy high-value loans, speedy disbursement, flexible repayment choices, and secure storage for your valuable gold.Visit your nearest Axis Bank branch or apply online now.
Disclaimer: Information sourced from Axis Bank’s official website and external financial platforms.
