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Turn your gold into opportunities
Safe, secure & quick gold loans for your various needs
Apply Now Locate BranchGold Loan Interest Rate
Are you in urgent need of cash and have gold lying idle in your home? You can get instant cash at competitive interest rates by using your gold as collateral. Pledge the gold assets, be it in the form of gold jewellery or coins issued by banks, to obtain a Gold Loan at attractive interest rates. Get more details about interest rates below before applying for an Axis Bank Gold Loan.
What is Gold Loan Interest Rate?
Gold Loan Interest Rate is the rate at which a financial institution lends money against the value of gold provided as collateral. This rate typically varies depending on factors such as the lender's policies, prevailing market conditions and the loan-to-value ratio. Generally, Gold Loan interest rates tend to be lower compared to interest rates on other loans owing to the reduced risk associated with gold collateral.
With Axis Bank, you can get a Gold Loan at affordable interest rates. The bank provides Gold Loans worth amounts ranging ₹25,001 to ₹40 lakhs, with features like quick disbursal and flexible repayment tenures.
Interest Rates and Charges
| Fixed Rate Loan | 1 year MCLR | Spread over 1 year MCLR | Effective Interest Rate | Reset |
|---|---|---|---|---|
| Gold Loan | 8.75% | 8.25% | 17.00% | No Reset |
Schedules of charges
Axis Bank offers Gold Loans at nominal charges and our Gold Loan charges are completely transparent and kept to a minimum so that you pay less upfront. Here's what you have to pay:
| Parameters | Min | Max |
|---|---|---|
| Interest Rate | 9.75% | 17% |
| Tenure | 6 months | 36 months |
| Loan amount | ₹25,001 | ₹40 lakhs |
| Processing fee | 0.5% of loan amount | |
| Foreclosure Fee | 0% if the loan is pre-closed after 6 months | 2% if the loan is pre-closed within 6 months |
| Valuation charges | ₹500 | ₹1,500 |
| Stamp duty charges | As per the applicable laws of the state | |
| Pre- payment charges | Nil | |
| Penal charges | 8% p.a.
| |
*(Subject to change as per Bank’s discretion from time to time)
**Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
For further details, please Click Here
Gold Loan repayment options
Gold Loan repayments can be made in multiple ways. Based on your income, you can select any repayment method, such as EMI, monthly interest or rear-ended payments i.e. payment at the end of the tenure. Get a Gold Loan that provides several repayment options, and select the repayment.
Factors affecting Interest Rates on Gold Loan
Market price of gold
Gold price is one of the most important factors that determines the interest rates on Gold Loans.
Relationship with the bank
Your relationship with your bank impacts the Interest Rate on your Gold Loan. For instance, several banks run exclusive offers for their customers.
Read More
Market price of gold
Gold price is one of the most important factors that determines the interest rates on Gold Loans.
Inflation
The Gold Loan Interest Rate is linked to the MCLR rate, which is in turn determined by the Reserve Bank of India’s repo rate. Every time the RBI changes the repo rate, banks’ interest rates also get revised. Therefore, indirectly, Gold Loan Interest Rates are impacted by inflation.
Relationship with the bank
Your relationship with your bank impacts the interest rate on your Gold Loan. For instance, several banks run exclusive offers for their customers. Using these offers, you may get Gold Loans at attractive interest rates or at potentially lower rates than other banks. The relationship could be a Savings Account, Fixed Deposit or a credit product such as an existing loan or a Credit Card.
Great plans start with well-calculated decisions
Gold Loan Eligibility Calculator
Fulfil your dreams by taking a Loan Against Gold! Use Axis Bank Gold Loan calculator to get an instant estimate of the loan amount you can get by pledging a specific gold ornament.
Eligible Loan Amount
₹ 3513
Gold Loan EMI Calculator
Calculate your monthly EMI in seconds and make smart borrowing decisions with our Gold Loan EMI calculator.
Total Amount Payable
₹ 1,37,621
Important Links
Frequently Asked Questions
Yes, some lenders offer you the option to pay only the interest on the Gold Loan on basis and principal at the end of the tenure.
No, your credit score generally does not affect your Gold Loan Interest Rate, as Gold Loans are secured by collateral.
You can calculate the Gold Loan interest amount using the loan amount, Interest Rate and loan tenure. The formula is -
Interest = Principal x Interest x Tenure / (12 x 100)
Yes, most lenders allow you to make part-payments on the Gold Loan, reducing the outstanding principal amount and, consequently, the interest burden.
