Best features for Gold Loan

Axis Bank is a well-known organization in the private banking industry. Axis Bank provides Gold Loans at a low cost. By pledging one's gold ornaments or gold coins as collateral, an Axis Bank gold loan may be obtained to fulfil an immediate cash requirement. Axis Bank provides one of the lowest gold loan rates, at 12.50 percent, to both current and new bank customers. The interest rate on an Axis Bank jewel loan varies depending on the amount borrowed, the purity of the gold, and the loan to value (LTV) ratio.  In line with the gold rate today , Axis Bank offers a Gold Loan per gram rate of Rs. 2,506 to Rs. 4,621. You would be able to get a gold loan from Axis Bank not only quickly, but also at a lower interest rate.

Features

• The interest rate on an Axis Bank gold loan ranges from 12.50 per cent to 17.50 per cent.
• Processing fees of 1% plus GST are charged by Axis Bank.
• The term of a Gold Loan will range from 6 to 24 months.
• Axis Bank offers the lowest EMI per lakh on an Axis Bank gold loan with the lowest gold loan interest rate of 12.50 per cent and the longest loan term of 24 months.
• Prepayment of jewel loans is free of charge at Axis Bank.

Fees

• A processing Fees of 1% plus applicable taxes is levied.
• A valuation Fees of Rs. 500 plus applicable taxes are charged.
• No prepayment charges are paid by the customer.
• A Penal Interest of 2% of the loan amount per month has to be paid on the overdue amount.
• Foreclosure Charges
  
  
  • If the gold loan is closed within 3 months of the sanction date, 2% of the approved loan sum plus related taxes will be charged.
  • If the gold loan is closed within 3 to 6 months of the sanction date, 1% of the approved loan sum plus related taxes will be charged.
  • If the gold loan is closed within 6 to 11 months of the sanction date, 0.50 per cent of the approved loan sum plus applicable taxes are payable.
  • If the gold loan is closed after 11 months from the date of sanction, there will be no foreclosure costs.

Interest Rates

Axis Bank offers the lowest gold loan interest rate of 12.50 percent. Axis Bank currently provides gold loans beginning at 12.50 per cent, which is 0.5 percent lower than the previous cost of 13.00 percent.

Eligibility

You can easily get a gold loan from Axis Bank if you are between the ages of 18 and 75 and have gold ornaments or jewellery or coins to put up as collateral. Additionally, the gold products you pledge must meet the bank's internal requirements.

Conclusion

Axis Bank Gold Loans are gold-backed loans with same-day disbursement. By visiting your nearest Axis Bank branch, you can request a Gold Loan and receive prompt approval. Axis Bank offers a gold loan of up to Rs. 20 lakh. The tenure period ranges from six to thirty-six months. Axis Bank provides a gold loan for agriculture at a cost that is percent to 2 per cent lower than gold loan rates. To meet your financial needs, you can apply for an Axis Bank Gold Loan. Axis Bank provides an online payment option for gold loans. When applying for a gold loan, you are not required to have a co-applicant. You can check the status of your Axis Bank Gold Loan online by going to the bank's website and logging in with your username and password.

Read More:- Gold Loan Meet The Needs Of People