Federal Bank Gold Loan Key Features – Apply Now!
|Federal Bank Gold Loan Interest Rate||7.11% per annum|
|Federal Bank Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,032
|Federal Bank Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Federal Bank Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Federal Bank Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Federal Bank Gold Loan Repayment Tenure||3 Months to 24 Months|
|Federal Bank Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
About Federal Bank Gold Loan
Federal Bank is one of the gold loan provider private sector commercial bank in India. It provides loan against the gold at very low interest rates. Bank keeps your gold assets in tight security and returns them back when you pay back your loan amount. You have to give prescribed interest rate to the bank on time. You can use this money for your personal purposes and for the business purposes as well.
Why Gold Loan?
Gold Loan is useful in many essences but most important is that your gold will be at the safest place. The bank takes full guaranty of your gold. Even if you want to put your gold in bank lockers safely and securely then you have to pay to the bank for it but bank provides you locker only not security. So it’s better to get a Gold Loan, you will get money and security at the same time. Bank will be responsible for any kind of miss happening. Federal Bank Gold loan is available at very fewer interest rates in many banks. So many nonbanking financial companies also provide you with a Gold Loan, and very less paperwork is required to complete these formalities.
Another reason to go for a gold loan is that sometimes customers are not eligible to get other loans like a personal loan or a home loan or any kind of business loan, because of their bad credit history or any other reasons. So gold loan doesn’t require that much of formalities. you can easily get a Federal Bank of India Gold Loan if you have gold.
There are some conditions that the applicant should fulfill to get Federal Bank Gold Loan. These are written below
- Age of the applicant should be more than 21 years and less than 65 years. He/she should be able to return the loan amount on time.
- Applicant should have gold in the form of coins/ jewelry/bricks. But the purity of the gold should be 18 karats to 24 karats.
- Interest rate of Federal Bank Gold Loan starts from 7.11%.
- Bank will provide you Rs. 1000 to Rs. 75 Lakhs. Bank will accept gold in all forms with purity 18 karat to 22 karats.
- There are no prepayment charges applied by the bank. Besides, those processing fees are zero.
- The time duration for the loan is from 6 months to 12 months.
Different schemes are given by the bank
- Special Gold Loan – Its time period is for three months and the maximum rate per gram is 72% of the market value of the gold.
- Agri Gold Loan – Its time period is also for three months and the maximum rate per gram is 75% of the market value of the gold.
- Special Gold Loan- Its time period is for six months and the maximum rate per gram is 70% of the market value of the gold.
- MSME Gold Loan- Its time period is for three months and the maximum rate per gram is 72% of the market value of the gold
- Gold Loan (General) – Its time period is for 12 months and the maximum rate per gram is 62% of the market value of the gold
- Digi-Gold Loan (Overdraft) – Its time period is for 12 months and the maximum rate per gram is 75% of the market value of the gold
- Fast Track Gold Loan- Its time period is for 9 months and the maximum rate per gram is 75% of the market value of the gold
- Gold Loan – (Monthly Interest Service) Monthly Interest Service Its time period is for 12 months and the maximum rate per gram is 75% of the market value of the gold.
The whole process is very easy and simple. Documents required in the very simple form. You instantly get a gold loan after issuing the documents. Identity proof (Passport/Id card/voter card/driving license) can be any one of them. Everyone easily has these documents so there is no problem with the submission.
- First of all 2 passport size photos.
- After that an ID proof.
- A passport can also be an Id proof because a passport has a name, age, address and photograph of the customer. Therefore if you are having a passport then there is no need to bring your address proof separately.
- Likewise Residence proof can be Aadhar card, voter card, and passport (Passport/Id card/voter card/driving license).
- Even more Electricity and water bill for the last three months can be a residence proof because these are the proofs that you are residing in that particular place.
- Driving license can be a proof of identity and residence proof because it contains the name, date of birth and a photograph of the customer.
- Aadhar card provided by UIDAI that contains biometric details of the customers like age date of birth and photograph of the individual.
- After that PAN card is the permanent account number and it prevents from the financial frauds.
- So it can also be an identity/residence proof. Pan card is very essential document under KYC (know your customer) formality.
- Similarly, Ration card can be a residence proof because it provides enough information about the applicant.
- A signature proof is also required to get a Gold Loan.
Why we are suggesting applying for the Federal Bank Gold Loan by using lendingwale.com over other sites. Lendingwale.com knows the value of your precious time. You will get so many perks if you apply by using this site.
- You just have to fill the Federal Bank Gold Loan form and you will get a call from our side automatically.
- First of all search for lendingwale.com on google.
- A form will open up.
- After that fill the form with the required information.
- Therefore you will get further information here.
- Furthermore, you can also call on 60011600 to apply.
- Therefore you don’t need to go here and there to ask for interest rate or to get to know about EMI ’s.
- All you need is to apply on lendingwale.com. After that, you will get back a call back within a few minutes with all the information. So Gold Loan is only one step away from you.