FAQs - Agricultural Gold Loan

You can start the process of applying for Gold / Loan Overdraft in any of the following ways:
Online by You can start the online process of applying for Gold / Loan Overdraft byclicking here Or just SMS “IGL” 56161600

For a complete list of Axis Bank Branch addresses where you can apply for Power gold loan, please click hereFor a complete list of Axis Bank Branch addresses where you can apply for Power gold loan

12 months tenure

Minimum loan amount of Rs.25,001/- & Maximum Loan amount of Rs.20,00,000/- for Power Gold Loan

Minimum loan amount of Rs.2,00,000/- & Maximum Loan amount of Rs.20,00,000/- for Gold Overdraft

Some of the factors we consider when deciding a loan amount are:
Your requirement and valuation of Gold and Your repayment capacity

Your application for a Power Gold Loan/ Gold Overdraft  needs to be supported by the following documents:

• Passport Sized Photographs
• Proof agricultural land records / allied agricultural activity
• Photo identity, address and signature proof
• Pan card/Form 60
• Age Proof

The same day! Accounts get activated the day that we receive your application along with all the necessary supporting documents and Gold jewellery as security.

Yes, bank charges a non-refundable processing fee and Valuation fee for every Power Gold Loan/ Overdraft application.

Interest is calculated on Simple interest basis for gold loan and for gold overdraft interest is calculated as per the usage.

Axis Bank proactively reminds customers of their dues and advises you to keep adequate funds available to avoid additional costs. If you miss making a timely payment, late payment charges will be applicable according to the terms of your loan / overdraft agreement

Before we process a foreclosure, all outstanding dues must be cleared. So we request you to first check for and clear any remaining amount that may be payable towards your power gold loan by requesting a foreclosure statement from branch. Once all outstanding dues have been cleared, please submit a foreclosure request at Branch from which you obtained the Power Gold Loan / Overdraft and we will begin processing your request.

ATM card and Cheque book shall be issued against Gold Overdraft account. Customer Can use Net Banking also for Deposit purpose.

Any pre-payment / excess amount paid by you to the Bank shall be appropriated in the loan account basis the below criteria / methodology:
1.Costs, charges and expenses that the Bank may expend to service, enforce and maintain the security and therefore recover the Loan, interest, and all sums due and payable by the Borrower to the Bank under this Agreement (charges)
2.Interest on amounts in default and loss of profit on the defaulted amount/s (penal interest)
3.Interest
4.Principal amount of the Loan.