Indian Bank Gold Loan Details
Overview
Indian Bank offers Gold Loan schemes to provide financial assistance by leveraging your gold ornaments. With quick processing, minimal documentation, and flexible repayment options, you can access funds conveniently.
Types of Gold Loans
- Agricultural Jewel Loan Scheme: Designed for farmers to meet agricultural expenses with easy processing and low-interest rates. Learn more
- IB MSME Jewel Loan: Tailored for Micro, Small, and Medium Enterprises (MSMEs) to address business needs. Learn more
Key Features
- Loan Amount: Varies based on the scheme and value of gold pledged.
- Interest Rates: Competitive rates linked to the bank’s benchmarks. For instance:
- Jewel Loan (Non-Priority): 9% to 9.5%
- Overdraft against Gold Jewels: 9.65% to 10.15%
- Repayment Tenure: Flexible repayment options tailored to the borrower’s needs.
- Processing Charges: Applicable as per the bank’s guidelines.
- Quick Disbursal: Funds are credited promptly upon successful verification.
- Minimal Documentation: Streamlined process for hassle-free approval.
Eligibility Criteria
- Age: Applicants must be 18 years or older.
- Ownership: Applicants must own the gold ornaments being pledged.
- Gold Purity: Acceptable purity levels as per bank norms.
Required Documents
- Identity Proof: Aadhaar Card, Passport, Voter ID, or Driving License.
- Address Proof: Aadhaar Card, Utility Bills, or Passport.
- Photographs: Recent passport-size photographs.
Application Process
- Visit the nearest Indian Bank branch with your gold ornaments and required documents.
- The bank will appraise the gold to determine its value and purity.
- Complete the loan application form and submit the necessary documents.
- Upon verification, the loan amount will be sanctioned and disbursed promptly.
Contact Information
For more details or to apply for a Gold Loan:
- Visit the nearest Indian Bank branch.
- Contact Customer Care at 1800 425 00 000 (Toll-free).
- Official Website: https://www.indianbank.in/
