HDFC Gold Loan
A gold loan is a type of secured borrowing wherein you pledge your gold valuables against a certain sum you need as loan. It is a new and trending concept in the Indian loan sector. Many people in India own gold as it is considered a symbol of success and fortune. You can make the best of the locked-in value of your gold assets by pledging them to a bank or an NBFC against a loan with tempting interest rates.
Keeping your gold ornaments as collateral for a loan is known as 'Gold Loan'. It is the fastest way to get a loan as it demands minimal documentation and is a hassle-free process. Along with ornaments you can also keep gold coins as collateral. These gold loans are usually taken for short tenures as per the applicant's needs. The lenders design the repayment process and EMI's according to the borrower's needs.
Avail The Best Gold Loan Value With HDFC Bank
No Financial requirement up to Rs 15 Lacs even for Non-HDFC Bank customers.
The only Bank to fund Partnership Firm/Private Limited Companies other than Individuals (Jewellery belonging to the Family of Partners/directors/Firm/Company).
Hassle-free renewal without visiting the branch. Renewal will be subject to credit decisions.
Minimum utilization of 20% on a monthly basis to avoid commitment charges
HDFC offers gold loans under their 'Sampoorna Bharosa Gold Loan' scheme where the tenure is decided on the quality of gold and the amount disbursed. The tenure of HDFC gold loan ranges from 6 months to 4 years.
HDFC gold loan requires minimum documents. HDFC gold loan interest rate starts from 9.70% and goes up to 20.18%. These are the lowest interest rate available. Generally, HDFC gold loan interest rate falls between 12% to 13%.
HDFC offers flexible and customized repayment options. Borrowers can start by paying the interest rate and are allowed to pay the principal amount at the end of the term. Also, the borrower can make pre-payments after few instalments.
HDFC gold loans are approved and disbursed quickly. They can be approved within an hour. For those seeking quick funds, HDFC Gold Loan is at your service!
HDFC Gold Loan Features
- OTC Spot Loan: Spot sanction over the counter product.
- Safe & Secured: Unique triple layer security packing for gold jewellery and safely secured in Bank's locker.
- Assessment by professional Assayers: Handling and Valuation of jewellery are done by a valuer with long years of experience from a well-known jewellery house.
- Minimal Documentation: Application Form and KYC documents. (PAN Card and documents such as valid Passport/ Driving License /Voters ID card /Aadhaar Card).
- Flexibility of offering: Customer has a basket of variants viz Term Loan/ Overdraft/ EMI/Bullet Payment.
- Insurance: Insurance cover for loan is available.
- Gold loans are available to a multiple number of people at the same time as they do not need many documents, eligibility criteria are minimum and even the process is easy & quick.
- People from rural areas are offered special lower interest rates if they opt for a gold loan. In a gold loan, as gold is kept as collateral, loan is disbursed in few hours.
- HDFC offers a minimum of Rs. 50,000 loan amount against gold.
- HDFC gold loan amount is decided on the gold's purity, market price of gold and its karats. Precious stones studded in your gold ornaments are excluded while ascertaining the gold value.
- HDFC offers in house gold evaluation. Rejection in gold loan happens only if the borrower's CIBIL score is low.
Gold Loan Eligibility Criteria
The borrowers do not need any hefty eligibility criteria to avail a gold loan via HDFC. The minimum eligibility criteria are given below:
- The borrower should own gold.
- The gold coin or ornament to be kept as collateral should be above 18 karats.
- The borrower should have a steady income to pay off the loan on time
- The borrower should have a good CIBIL score.
Documents Required for a Gold Loan
List of Documents Required
Identity and signature proof
- Voter ID
- Passport
- Aadhaar Card
- Driving License
- PAN Card
- Employee Identity Card (in case of government employees)
Address Proof
- Rent Agreement
- Bank Statement
- Votar ID Card
- Passport
- Driving License
- Telephone/Electricity/Water/Credit Card bill or Property tax.
Two post-dated cheques for security purposes
Signed and filled HDFC Gold Loan Application Form
Passport-size photographs
Why Choose Ruloans
Ruloans is India's fastest-growing financial distributor. A comprised team with mammoth experience in finance and internally developed highly proficient Loan Calculator algorithm, we are pledged to offer solutions to all your financial needs. Borrowers can apply for an HDFC gold loan with Ruloans' latest online application process. We help you borrow right.
- Hassle-free process
We have developed an efficient, smooth and easy process for our consumers to get HDFC gold loans. Our easy to use online procedure allows consumers to upload their documents quickly.
- Compare your loan options
You can compare interest rates, offers and services on our online portal. This will guide you to make the right choice and choose the right lender for your loan as per your budget.
- Guidance from Top Experts
Our highly trained professionals in finance know the back and forth of the industry. Our dedicated team of experts will guide you at any given time, without charging a dime.
- Privacy Policy
Ruloans understands the value of your documents and keeps them safe and secure. Be rest assured as your loan applications are processed electronically with complete privacy and transparency.
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Read MoreWhat Our client's Say
Ruloans helped me in getting an instant gold loan. With all my Kyc documents in order I went to HDFC Bank to deposit my gold and receive an instant disbursal. Great work by Ruloans. I received a loan at 3% and one thing to keep in mind is that your gold should be more than 18 carats.
