Indian Overseas Bank Gold Loan Key Features – Apply Now!
|Gold Loan Interest Rate||7.11% per annum|
|Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,032|
|Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Gold Loan Repayment Tenure||3 Months to 24 Months|
|Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
Advantages of Indian Overseas Bank Gold Loan:
- Quick processing: The approval and disbursement method of the Indian Overseas Bank Gold Loan is swift and quick. Usually, in an hour, the loan passes.
- Low-interest rate: The interest rate for gold loans is much lower in comparison to other loans, as it is a secured loan.
- Minimum Paperwork: The documentation process is clear and straightforward; it includes the minimum number of documents needed to accept a gold loan from the Indian Overseas Bank.
- Transparent system: We do not enforce secret fees on loans-the priorities of a bank.
- Loan Sum: The minimum amount of loan available to customers is Rs. 15000. Sometimes, it may be less than Rs 10000 in remote areas.
- Jewellery Security: We are responsible for the care of your jewellery. The gold, therefore, is contained in vaults that are fireproof.
- Loan tenure: The tenure of gold loans can range from 3 months to 2 years. Depending on your convenience, you can establish an option for tenure.
- Farmers’ benefits: Some special incentives are provided for agricultural purposes by the Indian Overseas Bank. This means that the bank provides farmers with a marginally lower rate of interest on gold loans for agricultural use.
- No Debt Burden: We are mindful that there might be occasions where a borrower is unable to pay for the loan sum, in such a situation where the bank will only seize the ornaments held by you, hence, the lender will not be under debt.
- No income restrictions: there are no such restrictions on the lender’s wages or income; anyone of any income range may also use a gold loan at any time.
How Much Gold Loan can I Get through Indian Overseas Bank Gold Loan:
Indian Overseas Bank Gold Loan Per Gram – Updated September 2020
Updated - Gold Loan Per Gram Rate
Indian Overseas Bank Gold Loan Eligibility:
18-70 years of age Salaried, Self-Employed Minimum 18 Carats
18-70 years of age
Minimum 18 Carats
Indian Overseas Bank Gold Loan Documents Required:
2 Passport Size
Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)
Indian Overseas Bank Gold Loan Interest Rate, Fees, and Charges:
1.50% of the Principal Loan Amount 2%+GST (Within 3 Months), 0 (After 3 months) Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs 2% p.a. + Applicable rate of interest.
HDFC Gold Loan Interest Rate
7.00% per annum
Late Repayment Charges
Renewal Processing Fees
Rs 350 + GST
1.50% of the Principal Loan Amount
2%+GST (Within 3 Months), 0 (After 3 months)
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
2% p.a. + Applicable rate of interest.
About Indian Overseas Bank Gold Loan:
If you are facing financial problems, solve them with the Gold Loan option that is most suitable. Loans provided for gold are called loans for gold. The borrower retains the gold jewel with the lender as security and receives cash. Get immediate consent and a hassle-free method. A short paper is at your disposal. A gold loan is a loan that is insured. This service can therefore be conveniently used even by individuals with a low CIBIL rank.
Nonetheless, while there are several forms of financial banking and non-banking companies that provide gold loan services, Indian Overseas Bank Gold Loans are the most common. These are a couple of India’s most reputed and valued banks. Besides this, for its very good financial services, it is popular. To apply for a Gold Loan from Indian Overseas Bank and take advantage of the best deals for your product.
- Indian Overseas Bank Gold Loan Interest Rate is 7.11% per annum
- Indian Overseas Bank Gold Loan Per Gram is ₹ 5,032
- Indian Overseas Bank Gold Loan Tenure: Up to 24 months
- Indian Overseas Bank Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST
Types of Indian Overseas Bank Gold Loan:
Indian Overseas Bank provides multiple Gold Loan product-related schemes that are described below:
- Loan Against Gold – Indian Overseas Bank provides gold loans at interest rates for any purpose, whether personal or technical or not, to meet the urgent need for funds. Then the gold loan is definitely a secured loan; the bank has no risk of granting the amount to the individual, so compared to different types of loan merchandise, it is given at a lower rate of interest.
- Agriculture Loan Against Gold – The Indian Overseas Bank explicitly offers farmers gold loans for agricultural functions at a particular interest rate compared to gold loans provided for other uses. They are given special incentives, and they can turn out the bank land documents for which the loan is taken out.
Indian Overseas Bank Gold Loan EMI Calculator:
Rate of Interest
How to Pay Your Indian Overseas Bank Gold Loan EMI?
Currently, the Indian Overseas Bank gold loan is repaid using the following three alternative methods:
- Standing Instruction (SI): If you are already a holder of an Indian Overseas Bank account, standing instruction is the shortest and most convenient method of payment. Your EMI number will be credited automatically from the Indian Overseas Bank bank account displayed at the end of the month.
- Electronic Clearing Service (ECS): Usually, this payment method is used if you have a non-Indian Overseas Bank record, and you want to debit your EMIs from the account you registered with us near the month-to-month decline.
- Post-Dated Checks (PDC): At your nearest Indian Overseas Bank Loan Centre, you can disclose your post-dated EMI reports from a Non-Indian Overseas Bank financial statement. There was a need to immediately grant a new version of PDCs. If you mention that, since they were, Post Dated Checks are progressing, it would be nice to gather non-ECS states.
Indian Overseas Bank Gold Loan Contact Number:
Call 9878981144 to get instant support and approval for your Indian Overseas Bank Branch Gold Loan. To use the most productive offer specific to your needs, you can easily get to know the most attractive Gold Loan offers out there from all Indian Overseas Bank branches worldwide.
Gold Ornaments Accepted by Indian Overseas Bank :
- Gold jewels For eg, gold bracelets, gold bracelets, gold anklets, gold necklaces, etc. All these ornaments were purchased by the Indian Overseas Bank for a gold loan.
- Quality: Gold quality must range from 18 carats to 22 carats in value. In applying for a gold loan, any gold decoration that is 24 carats will not be included.
Use of Indian Overseas Bank Gold Loan:
For multiple functions, the funds raised by the use of the Indian Overseas Bank Gold Loan service can be used, such as:
- The funding of other private investments, such as marriage, cycling, higher education rates, etc.
- There are also loan services available for all of your marketing needs, such as getting materials, designing, promoting, etc.
- In addition, you can also benefit from a Gold Loan for agricultural concepts. The bank has lower interest rates on gold loans that are used for agriculture or similar projects.
Gold Loan Interest Rate of Major Banks
HDFC Bank Gold Loan
7.11% – 14.50%
ICICI Gold Loan
|7.11% – 16.10%|
|Muthoot Finance Gold Loan||
7.11% – 24.00%
Axis Bank Gold Loan
|7.11% – 17.11%|
|Manappuram Gold Loan||
7.11% – 26.00%
Yes Bank Gold Loan
|7.11% – 15.99%|
|Bank of India Gold Loan||
7.11% – 26.00%
Federal Bank Gold Loan
|7.11% – 13.50%|
|IIFL Gold Loan||
7.11% – 12.00%
Central Bank of India Gold Loan
|7.11% – 14.65%|
Canara Bank Gold Loan
7.11% – 12.65%
|Allahabad Bank Gold Loan||
7.11% – 10.45%
Induslnd Bank Gold Loan
|7.11% – 15.75%|
|PNB Gold Loan||
7.11% – 11.75%
Bajaj Finance Gold Loan
|7.11% – 26%|
|SBI Gold Loan||
7.11% – 15.99%
Indian Bank Gold Loan
|7.11% – 15.99%|
|UCO Bank Gold Loan||
7.11% – 26.00%
Kotak Mahindra Bank Gold Loan
|7.11% – 13.50%|
|Syndicate Bank Gold Loan||
7.11% – 12.00%
FAQs About Indian Overseas Bank Gold Loan:
What is Indian Overseas Bank Gold Loan?
The Indian Overseas Bank Gold Loan is a type of loan that you can only use by keeping your gold as collateral with the bank for urgent financial support. Also included are Term Loan, Overdraft, and EMI interest rates, mostly loan dependent. In India, the average Gold Loan disbursement time is just 45 minutes.
How can I get the Gold Loan from Indian Overseas Bank?
By visiting any of India’s gold loan approval branches, you can get an Indian Overseas Bank Gold Loan; otherwise, you can apply online with LendingWale from the comfort of your home and get the best offers and deals. It is one of India’s few leading banks that offers gold loan facilities.
What is the Gold Loan Interest Rate in Indian Overseas Bank?
In India, the gold loan rate is 7.11 per cent per annum. The interest rate usually depends on a number of components, including the size of the loan, the loan tenure, the purity of the gold, and your relationship with the bank.
How much Gold Loan can I get per gram in Indian Overseas Bank?
The gold loan that you earn per gramme from the Indian Overseas Bank depends on the purity of your gold. Indian Overseas Bank accepts 18-carat and 22-carat purity gold in order to get a gold loan. On the Indian Overseas Bank Gold Loan, you can use up to 5,032 per gramme.
How to check Gold Loan status in Indian Overseas Bank?
You just need to go to the Indian Overseas Bank loan status tracker web page and fill in your information with the published application to check your Indian Overseas Bank Gold Loan status. You can directly track the status of your loan from anywhere and keep it updated.
How to calculate Gold Loan Interest in Indian Overseas Bank?
By using the LendingWales’ EMI Calculator, you can calculate the interest on your Indian Overseas Bank Gold loan interest, which gives you accurate amounts based on the data you insert into the calculator.
How to Pay Indian Overseas Bank Gold Loan Interest Online?
On the official Indian Overseas Bank loan repayment website or else, you can pay Indian Overseas Bank Gold Loan interest directly online through internet banking; you can also repay your Indian Overseas Bank Gold Loan using Paytm or any most popular payment form.
What if I can’t pay the interest on Indian Overseas Bank Gold Loan for 3 months?
The bank will inform you of your uncompleted dues first if you fail to pay the Indian Overseas Bank Gold Loan within three months. A formal legal notice concerning the repayment and termination of the loan is distributed if the payment demands go unanswered. Defaulting on your gold loan contributes to a decrease in your credit score that allows the bank to face legal proceedings, along with the confiscation of your gold sale.
How can I apply for EMI Moratorium on Indian Overseas Bank Gold Loan?
Currently, you can apply for an Indian Overseas Bank Gold Loan EMI moratorium between 1 March and 31 August 2020, and you must do so by contacting the customer service department of the bank or visiting the nearest Indian Overseas Bank branch.