You can apply for a gold loan online or offline. To apply offline, visit your nearest Axis Bank branch. If you want to apply online, follow the steps mentioned below:
Step 1 - Visit the Axis Bank Gold Loan page
Step 2 - Click on “Apply Now”
Step 3 - Fill in the online application form by entering your name, phone number, email ID, and residential address
Step 4 - Select your state, city, and nearest branch
Step 5 - Click on “Submit” to submit your application form
Step 6 - Note down your reference ID number. Wait for our representative to get in touch with you.
We provide gold loans with same-day loan disbursement.
Before applying for a loan against gold with Axis Bank Ltd, check eligibility criteria.
Resident individuals between the ages of 18 and 75 years
- Gold purity of at least 18 carat
- Bank-issued gold coins with a maximum limit of 50 gm per customer.
A gold loan is a quick and easy way to get access to finances during an emergency. However, there are certain things that you should consider while applying for a gold loan to ensure a pleasant borrowing experience.
1. Trustworthiness of the lender: Since gold will be kept as collateral with the lender, it is crucial to ensure that your gold is kept safe until you repay your loan. Hence, applying to a well-established and credible lender gives you peace of mind. Axis Bank undertakes 3X protection for your gold, tamper-proof packing, bank vault facility and valuation certificate.
2. Loan Amount: The maximum loan amount that you can borrow against your gold depends on the purity and quantity of the gold that you are mortgaging. The gold loan per gram rate varies from one lender to another, and they usually finance up to 75-% of your gold’s value.
3. Interest rate: Another crucial thing that you need to consider is the interest rate. Gold loans are secured loans that have lower interest rates than unsecured loans. However, you should always compare gold loan interest rates from various lenders before arriving at a final decision.
4. Other charges: Apart from the rate of interest, lenders may levy additional charges such as processing fees, documentation fees, EMI bounce charges, loan overdue charges, etc. Learn about these charges carefully before applying for a gold loan.
5. Loan tenure: You should select an appropriate repayment tenure for your gold loan. Your choice of tenure will determine your EMIs. With an Axis Bank Gold Loan, you can choose a tenure between six and 36 months.
6. Repayment options: There are multiple repayment options through which you can repay your gold loan, such as regular EMIs or bullet payments / monthly interest. Select your repayment method as per your income stream and cash flow.
When you apply for a gold loan, the lender appraises the value of your gold to determine the maximum amount that you can borrow. While determining this amount, the lender takes into consideration a number of factors. Below are the factors that can impact your gold loan amount:
1. Weight of your gold: The heavier your gold, the higher its valuation will be. In other words, your gold loan amount is directly proportional to the weight of the gold that you are providing as collateral. If you are taking a gold loan against a piece of jewellery, the lender will consider the weight of the gold in it to determine the gold loan amount that you can borrow.
2. Purity of your gold: The loan amount also depends on the purity of your gold. For example, if the purity of your gold is 24 carat, its valuation would be higher, and hence, the loan amount that you can borrow will be higher. To avail of a loan against gold, the purity of your gold should be at least 18 carat.
3. Fluctuations in gold prices: Gold prices fluctuate daily. Any major fluctuation can impact your gold’s valuation and, in turn, the maximum loan amount that you can borrow against it. Fluctuations in gold prices can occur due to several factors, including demand and supply, currency fluctuations, and global geopolitical situations.
3. Loan-to-value (LTV) ratio: The loan-to-value (LTV) is the percentage of gold value that you can get from a lender as a loan. According to the Reserve Bank of India (RBI) guidelines, lenders (banks or NBFCs) can now lend up to 75% of the gold value.
To avail of a loan against gold, you will need to keep your gold as collateral with us. You can entrust us to keep your gold safe until you repay your gold loan. Below are the security measures that we take to ensure the safety of your gold:
3X protection for your gold with Gold Loans with Axis Bank:
1. Tamper-proof box
2. Bank vault facility
3. Security certificate