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AU BANK – GOLD LOAN

Apni Har Zaroorat Karo Puri

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Top Features Of Gold Loan

About Gold Loan

    Gold has been one of the safest investment options for generations which can be used to raise funds in the form of Gold Loan finance during situations such as business expansion, child education, medical crisis, or to meet any other personal requirements. 

    Our Gold Loan scheme can help you meet financial shortfalls by mortgaging your gold assets securely and hassle-free.

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Features of Gold Loan

  • Loan for every need:

     We provide Gold Loan amounts starting from INR 10,000 against your gold holdings to meet the liquidity needs.
     
  • Safe storage of your gold articles:

     Your gold is kept in secure custody in our bank's safe vaults. It is only transferred from one locker to another, keeping the structure and design intact.
     
  • Convenient repayment options:

     Our Gold Loan scheme offers competitive rates and flexible repayment options. You can choose between EMI or interest servicing, depending on your repayment capability.
     
  • Always nearby:

     We have numerous branches across the country, making it easier to apply for a loan or close the Gold Loan account.
 

Benefits of Gold Loan

  • Higher loan-to-value ratio:

     The Gold Loan comes with a high loan-to-value ratio of up to 75%. This means you can get a loan of up to 75% of appraised gold value. 
     
  • Attractive interest rate:

     The Gold Loan interest rates are lower compared to unsecured personal loans.
     
  • Minimum documentation and swift processing:

     With simple KYC-based documentation and verification process, you only have to submit your identity documents and address proof. We offer an over-the-counter disbursement facility.
     
  • No income proof or bank account statement required: 

    For a loan amount of up to INR 10,00,000, you don’t need to provide income proof as the loan is secured against the gold mortgaged. Also, a low credit score doesn’t affect the Gold Loan application approval.
     
  • Low processing fees:

     Gold Loans have loan processing and renewal fees of only up to 1%.
     
  • Top-up facility:

     You can also avail of the top-up facility at renewal as per the prevailing gold prices in the market.
 

Eligibility criteria

To apply for a Gold Loan, an applicant must fulfill the following eligibility criteria:
  • Be a resident of India
  • Age should be between 18 and 70 years
  • Have a steady source of income 
  • Own the gold jewellery articles to be mortgaged
  • Purity of gold jewellery should be in a range between 18 to 24 carats
Non-income proof providers can only get a Gold Loan of up to INR 10,00,000.
 

How to apply for Gold Loan?

Eligible customers can apply for a Gold Loan through the following ways:
  • Branch visit: 

    You can visit your nearest branch and apply for a Gold Loan in person.
     
  • Online form: 

    Fill in our online form to have one of our representatives reach out to you.
     
  • Customer care: 

    You can also apply for a Gold Loan by calling our customer care number at 1800-1200-1200. You can alternatively email us at [email protected]
     
  • Relationship Manager:

     Existing customers can also get in touch with their dedicated RMs to find out how to get a Gold Loan.
 

Documents required for Gold Loan

The following documents are required to apply for a Gold Loan:
  • Identity & address proof (Aadhaar card, passport, driving license, voter ID, etc.)
  • PAN
  • Other relevant documentation
 

Fees and charges of Gold Loan

The following are some essential fees and charges applicable to Gold Loan:
  • Processing fees/Renewal fees: 1% of the Gold Loan amount
  • Stamping charges: As per state laws
  • Penal charges
  • Foreclosure charges: 1% of the balance amount

GST and other government taxes will be applied, which are over and above the scheduled charges.

For details on fees & charges, Click here.

 

FAQs

Click here for FAQs
 

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