ICICI Bank is a leading private sector bank in India. It offers a wide range of banking and financial services to corporate and retail customers. ICICI Bank gold loans also known as unsecured loans and helps to meet financial needs during emergencies. In the 1990s, ICICI transferred its business from development financial institutions offering only project finance to a diversified financial services group offering a wide variety of products and services.
ICICI Gold Loan is one of the natural and quick loans with a reasonable interest rate. It’s a hassle-free loan facility with no Equated Monthly Installment stresses and quick approval. Gold Loans give money for expenses such as agricultural requirements, education, holiday, or other little essentials. With a specific end goal to grab ICICI Gold Loan, you need to apply here. Gold loan is one of the most provided economic outcomes of the ICICI bank.
There are so many banks and non-banking financial companies that offer gold loans nowadays, but ICICI bank is the best bank for providing gold loans at an attractive interest rate with complete safety of your jewellery. The bank has a vast area of the network, and it has been serving customers with excellent and reliable financial services.
Loan sanction and disbursal process is fast and simple
Penal interest is not applicable for agriculture loans up to Rs.25,000 per customer
Repayment of loan is required at the end of the loan tenure and not through EMIs
Loan disbursal within 45 minutes
Attractive rate of interest
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TYPE |
CHARGES |
|
Loan Amount |
Rs.10,000-Rs.15 lakh |
|
Loan Tenure |
3 months-12 months |
|
Interest Rate |
10%-19.76% |
|
Processing Fees |
1% of loan amount |
|
Foreclosure charges |
Upto 1% of the loan amount |
|
Penal interest |
6% |
|
Documentation charges |
Rs.199 |
|
Renewal fee |
Upto Rs.50000 : RS.300 Greater than Rs.50000 upto Rs.1 lakh : Rs.350 Greater than Rs.1 lakh to Rs.2 lakh : Rs.500 Greater than Rs.2 lakh : Rs.1000 |
|
Stamp duty & other statutory charges |
As per applicable law of the state |
1. Signed application form
2. 2 passport size photographs
3. ID proof : Aadhar card, PAN card, Voter id, passport
4. Address proof : Aadhar card, Voter id, Passport, Utility bills
5. Post disbursement documents (If any)
6. Agricultural Land Proof and Income Statement.
The following eligibility criteria are necessary to be met by the applicant who wants to apply for a Gold Loan:
The minimum age of the customer should be 18 years and maximum age is 70 years
The applicant should be a proprietor or should be a Resident Individual residing in India permanently
The applicant can only offer gold ornament or any articles above 18 karats to 22 karats as security to the bank.
Maximum loan to gold value ratio upto 75%
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BANKS |
Interest Rate |
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14.50% to 17% |
|
|
11% to 16% |
|
|
10.50% to 17% |
|
|
11.25% to 16.25% |
|
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10.00% to 19.76% |
|
|
Starting at 10.75% |
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10.50% to 16.00% |
|
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Starting at 13% |
|
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10.05% to 11.05% |
1. Offline Method : By visiting the nearest bank branch.
2. Online Method :
First of all go to ICICI Bank web portal
Now click on “Personal”
In “products” go to Loan
Now go to “Gold Loan”
Fill the application form and submit it
How to contact with ICICI Bank :
1. By customer care contact number : 18601207777
2. By customer care email id : [email protected]
Financials products offered by Bank :
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Gold Loan is a straight forward product to understand. The Bank / NBFC provide you with funds against your gold jewelry. The amount depends upon the weight and purity of the Gold that you pledge.
Yes, Gold Loan comes under the category of Secured Loans. Because in a gold loan the customers deposit their gold ornaments in the Bank’s locker as security.
In case the borrower is unable to repay the outstanding against a Gold Loan, the lender has the right to sell the deposited Gold and make a recovery.
The repayment tenure of a gold loan in ICICI Bank is 3 months to 12 months..
The minimum loan amount is Rs.10000 and maximum loan amount is Rs.15 lakh of ICICI Bank gold loan.
Yes, age eligibility is important to get a gold loan from ICICI Bank. The age should be 18 years to 70 years.
Last Updated on : 11/Aug/2020
Know More About
You're eligible for a Icici Bank Gold Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Gold Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Icici Bank Gold Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 10% - 19.76% |
| Processing Fees | 1 % of loan amount |
| Loan Tenure | 1 year to years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Gold Loans EMI Calculator