IndusInd Bank Gold Loan

IndusInd, one of the oldest private sector banks in the country, was established in Mumbai in 1994 by Mr. Srichand P Hinduja, who was the head of the Hinduja Group. IndusInd Bank offers a wide range of banking services and financial products to its customers. The bank’s headquarters is situated in Mumbai, and it has a total of 745 branches and 1,635 ATMs across the country. It also has two representative offices in London and Dubai.

IndusInd Bank provides gold loans for various financial needs at affordable rates of interest, along with lots of other benefits, such as a quick documentation process, feasible repayment options, high security for the pledged gold, and quick loan disbursal. Mymoneykarma gives you all the information you need on the gold loans offered by IndusInd Bank.

IndusInd Bank Gold Loan Features and Benefits

Here are a few advantages and features of IndusInd Bank gold loans.

1. Any IndusInd Bank customer with a steady source of income can avail the loan.

2. The eligible age range is extensive, covering  a large number of customers.

3. Customers can rest easy regarding the security of their gold, which is kept safe in secure bank vaults.

4. Competitive rates of interest are offered to fit all types of customer budgets.

5. All types of gold ornaments, gold coins, and jewelry are accepted as collateral for the loan.

6. It is a multipurpose loan that can cover several types of expenses.

7. A minimum loan amount of Rs 25,000 and a maximum loan amount of Rs 10 lakhs can be availed.

8. A fast and efficient loan disbursal process.

9. Minimal documentation is required for the loan approval process.

10. Long loan tenure, of a maximum of 3 months, and 12 months for overdraft.

11. The facility of choosing a loan tenure as suitable for the customer.

IndusInd Bank Gold Loan Amounts

IndusInd Bank offers loan amounts with a limit set between Rs 25,000 and Rs 10 lakhs.

IndusInd Bank Gold Loan Interest Rates

IndusInd Bank provides affordable interest rates to its customers. The interest rate is set between 11.25% and 15.5% per annum. 

Here is a summary of all the information regarding IndusInd Bank gold loans.

Interest Rate	11.25% -15.5%
Minimum Loan Amount	Rs 25,000
Maximum Loan Amount	Rs 10 lakhs
Maximum Repayment Tenure	12 months

Eligibility Criteria for IndusInd Bank Gold Loans

Customers need to fulfill the eligibility criteria set by IndusInd Bank for its gold loans.

1. A minimum age of 21 years and a maximum age of 70 years.

2. A minimum stipulated income per year.

3. A steady source of income.

Documentation Required for IndusInd Bank Gold Loans

Loan processing requires the following documents.

1. Three passport size photographs.

2. A copy of proof of identity.

3. A copy of proof of address.

4. A filled-in application form.

Fees and Charges Associated with IndusInd Bank Gold Loans

Here is a list of fees associated with IndusInd Bank gold loans.

Loan Processing Charges	1% of the loan amount + GST
Foreclosure Charges	nil
Valuation Fees	Rs 300 - Rs 500
Prepayment or Part-payment Charges	1% of the loan amount + GST
Swap Charges( Replacement of PDCs)	Rs 500
Charges for Late Payment of Loan Amount	24% of the loan amount + GST
Stamp Duty & other Statutory Charges	As applicable by state laws
Documentation Charges	nil
Legal Charges	As actuals

IndusInd Bank Gold Loan EMI Calculator

IndusInd Bank customers can employ an EMI calculator to determine their gold loan EMIs. Applicants can use it to check the tentative amounts that they need to pay as loan EMIs. The EMI calculator depends on the following factors.

1. Gold loan amount

2. Gold loan tenure

3. Gold loan interest rate

4. Loan to Value ratio

5. Current price of the gold

6. Purity and net weight of the pledged gold

EMI Calculator Example

Gaurav wants to realize his dream of opening a bookshop, for which he needs around Rs 4 lakhs. He decides to take a IndusInd Bank gold loan using his deceased mother’s jewelry. The net cost of the jewelry is Rs 7.5 lakhs. He chooses a loan tenure of 6 months with an interest rate of 11.5%. Using the EMI calculator, his EMI amount is Rs 35,446 per month, which is within his monthly budget.

How to Apply for IndusInd Bank Gold Loan

IndusInd Bank customers can easily avail IndusInd Bank gold loans. A customer can walk into the nearest IndusInd Bank branch with the required documentation and their gold articles. On filling in a simple form, the gold is evaluated, and the gold loan is sanctioned within a working day.

Frequently Asked Questions

Question 1: How long does the processing of IndusInd Bank gold loan take?

Answer: IndusInd Bank gold loans are disbursed within the same working day, provided that the applicant has the correct documentation and authentic gold articles.

Question 2: What is the maximum gold loan amount that I can receive from IndusInd Bank?

Answer: The maximum loan amount that applicants can receive is Rs 10 lakhs.

Question 3: What is the minimum gold loan amount that I can receive from IndusInd Bank?

Answer: The minimum gold loan amount from IndusInd Bank is Rs 25,000.

Question 4: What is the maximum loan tenure for IndusInd Bank gold loans?

Answer: The maximum tenure for IndusInd Bank gold loans is 12 months.

Question 5: What kinds of gold articles does IndusInd Bank accept as security?

Answer: IndusInd Bank accepts gold coins and gold ornaments of purity 18K-24K.