Gold loan Documents and eligibility.

To get a gold loan you have to follow a particular procedure. All banks have different procedures and require many documents and have different eligibility, in order to proceed further for the approval of a gold loan. Let us see some few reliable banks’ document requirements and eligibility criteria.

HDFC Bank

Hdfc Gold Loan is extremely beneficial for finance personal or business needs. It calls for minimum documentation with instantaneously gold mortgage sanction and disbursal.

 Requirement for the procedure are as follows:

 

      Submit any one of the following:

• Passport (Not expired)

• Driving license (Not expired)

• Voters’ ID Card

• Aadhaar Card issued by UIDAI

• PAN (Permanent Account Number) Card (along with any of above mentioned documents) or Form 60

• One Passport Size Photograph

• Agri Allied Occupation Documentation( in case of bullet repayment for agriculture customers)

To check eligibility for a loan against your gold ornaments proceed as follows:

For the tenure of 6, 12, 24, 36, or 48 months→

No. of Ornaments	LOAN
1.	₹1,94,600
2.	₹3,89,200
3.	₹5,83,800
4.	₹7,78,400
5.	₹9,73,000
6.	₹11,67,600
7.	₹13,62,200
8.	₹15,56,800
9.	₹17,51,400
10.	₹19,46,000

*This is the approximate value. The final value will depend upon the gold valuation done by our appraiser in the branch.

*The above calculations are based on 100 grams of 24 carat gold.

SBI

Listed below are certain documents required to process your SBI Gold Loan application:

•  Gold Loan application form

• Identity proof (Aadhaar card, PAN card, Passport)

• Address Proof (Aadhaar card, rent agreement, electricity bill)

• Two passport photographs

• In case of illiterate borrower, witness letter

SBI Gold Loan Eligibility:

►Any salaried or self employed can opt for  SBI Gold Loan.

► Gold loan interest rates: 2.50% above Base Rate i.e., 12.50% p.a. currently

Age	21 years and above
Loan amount	Rs 10,000 – 20 lacs
Tenure	30 month

ICICI Bank

To get a Gold loan, you can walk into any ICICI Bank (ICICI Bank Gold Loan) branch imparting gold loan together along with your jewellery or gold coins  and avail of a gold mortgage for any rate from Rs 10,000 to Rs 1 Crore.

Document requirements are:

1. Two passport size photograph

2. ID Proof such as Driving License / PAN Card / Form 60/61 / Passport Copy / Voter ID Card / Aadhaar Card / Ration Card. Any one file wishes to be submitted

3. Address Proof including Driving License / Voter ID Card / Ration Card / Aadhaar Card / Passport Copy / registered rent settlement with now no longer older than three months software payments withinside the call of landlord (any one).

4. Proof of land preserving in case of agriculture mortgage of greater than Rs. 1 lakh

   Eligibility for 6 and 12 months are:

LOAN→ No. of Ornaments↓	6	12
1.	Rs. 3,50,600	Rs. 3,45,900
2.	Rs. 7,01,200	Rs. 6,91,800
3.	Rs. 10,51,800	Rs. 10,37,700
4.	Rs. 14,02,400	Rs. 13,83,600
5.	Rs. 15,00,000	Rs. 15,00,000
6.	Rs. 15,00,000	Rs. 15,00,000

• This is the approximate value. The final value will depend upon the gold valuation done by our appraiser in the branch.

• The above calculations are based on 100 grams of 24 carat gold.

AXIS Bank

You can avail a gold loan as much as Rs. 25,00,000 for a tenure of your preference among three to 36 months. The following files are required for making use of for an Axis Bank Gold Loan:

•  

• Signed utility form

• KYC files

• Post-disbursement files (if any)

 

 

 

Also read this: Who is eligible to apply for a gold loan?