Kotak Mahindra Bank is one the most trusted banks for gold loans. It is an Indian private sector bank and its headquarters at Mumbai. Kotak Mahindra Bank offers banking and financial services for corporate and retail customers.There are so many banks and non-banking financial companies in India that provide various financial products to the customers. These can be banking, insurance, loans or credit cards. Kotak Mahindra Finance Ltd. was established in 1985. The same got converted into a bank- Kotak Mahindra Bank Ltd. in March 2003. Kotak Mahindra Bank has presence in commercial vehicles, Retail finance, Corporate Banking, Treasury and Housing Finance.
People usually want to get the loan in case of any financial issues. Gold loan is a type of secure loan where you get the fund against the pledged gold assets. Here, we talk about all the things above that are quite normal but there is a change in it, now everyone has to get a gold loan with ease..You all think that “how it is possible? To overcome this issue Kotak Mahindra Bank came with an exciting opportunity i.e. Kotak Mahindra Bank Gold Loan. Kotak Mahindra Bank Gold loan provides an attractive interest rate with simple documentation. Get an instant loan against gold from Kotak Mahindra Bank and fulfil all your immediate financial needs with ease.
Kotak Mahindra Bank offers gold loans at an interesting Interest rate. The Gold you pledge is securely secured in the bank locker, and you don’t need to stress over its safety.
Now a days gold loan is fastest way to get loan
Gold can use for educational purpose
Get an instant gold loan and fulfill all your immediate financial needs with ease.
Offers attractive rate of interest
Safety and security of your gold
Less and simple paperwork
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TYPE |
CHARGES |
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Processing fee |
Up to 2% of the principal amount + GST |
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Stamping Charges |
As per the applicable laws of the State |
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Commitment fee |
Rs.1250 per quarter or 0.5% per quarter on the unutilized limit. It is applicable only to the overdraft facility where average quarterly limit utilization is under 50% |
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Overdue charges |
3% of the overdue amount, compounded monthly |
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Collection charges |
Rs.250 |
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Dishonor charges per instance |
Rs.750 |
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Swap charges |
Up to Rs.500 per swap per instance |
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Prepayment interest or foreclosure charges |
2.5% of the amount foreclosed on the overdraft and Term Loan – Bullet category 3% of the amount foreclosed |
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Duplicate issue of NOC |
NA |
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Solvency Certificate |
NA |
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No Due Certificate |
NIL |
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Copy of credit report |
Rs.50 |
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Documentation charges |
NIL |
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 75 years.
The applicant should be a proprietor or should be a Resident Individual residing in India permanently
In case he / she is not an indian resident then a proprietor will be needed.
The applicant can only offer gold ornament or any articles above 18 karats to 22 karats as security to the bank.
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)
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BANKS |
Interest Rate |
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14.50% to 17% |
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11% to 16% |
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10.50% to 17% |
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11.25% to 16.25% |
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10.00% to 19.76% |
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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. Kotak Mahindra Bank Car Loan
2. Kotak Mahindra Bank Home Loan
3. Kotak Mahindra Bank Education Loan
4. Kotak Mahindra EMI Calculator
1. Offline Method : By visiting the nearest bank branch.
2. Online Method :
First of all visit to Kotak Mahindra Bank web portal
Now click on “personal section”
In “explore products” got to retails
Now click on “Loans”
Now go to “Gold Loan”
Fill the application form and submit it
How to contact with Kotak Mahindra Bank Gold Loan :
1. By customer care contact number : 18602662666 / 18602660811
2. By customer care email id : [email protected]
Financials products offered by Bank :
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Interest Rates range between 10.50% to 17% per annum and depending upon the amount and the purpose of the loan. A processing charge up to 2% of the loan amount may also be charged. The amount of the loan sanctioned depends on the quality and weight of the Gold pledged.
Repayment of the gold loan at Kotak Mahindra Bank is made on Bullet Payment basis; customers can also avail EMI facility on Gold Loan and overdraft facility for businesses is also available. To pay the Gold Loan online, all you need to do is visit the bank’s website and give the loan account number/ CRN number and make the payment.
Check the status of your loan by visiting the bank’s official website and clicking on the ‘Track my Application’ link. You can also contact the bank via email or call on their customer care number for more information.
Closing the Gold Loan from Kotak Mahindra Bank can be done online by visiting their official website and making the online payments or through a Cheque/DD/ fund transfer when physically visiting the branch. The customer has to visit the office even if the payment was made online to show the receipt and release their ornaments and receive the No Dues Certificate.
The minimum loan amount is Rs.25000 and maximum loan amount is Rs.25 lakh of Kotak Mahindra Bank Gold Loan.
Last Updated on : 12/Aug/2020Know More About
You're eligible for a Kotak Mahindra 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
| Kotak Mahindra Bank Gold Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 10.5% - 17% |
| Processing Fees | Upto 2% of the loan amount |
| Loan Tenure | 4 year to years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Gold Loans EMI Calculator