Federal Bank Gold Loan

Make the most of Federal Bank Gold Loans, available at affordable interest rates starting from just 9.99% p.a. Obtain funding of up to ₹1.5 Crores to meet your personal, business, or agricultural needs. Conveniently repay your loan with options such as lump sum payments or flexible EMIs. Choose a tenure that suits your feasibility and repay your loan in a hassle-free manner.

Understand the key features of the Federal Bank Gold Loan to make an informed decision about borrowing against your gold assets. Here are some of the standout features that make this loan a reliable financing option:

High Loan Amount

Federal Bank offers high-value loan amounts based on the current market value of the gold you are pledging. This ensures that you have the funds needed to meet your financial goals without having to liquidate your assets.

Competitive Interest Rates

A Federal Bank Gold Loan is often accompanied by competitive interest rates, which make it an affordable borrowing option compared to other unsecured loans. This ensures that repayment is manageable for borrowers across different financial backgrounds.

Flexible Loan Tenure

Choose a flexible repayment tenure option that suits your financial situation. This level of flexibility ensures a comfortable repayment cycle without unnecessary financial strain.

Processing Fees

A nominal processing fee is applicable to cover any administrative charges. This provides a hassle-free borrowing experience without any undue financial burden.

Quick Processing

The loan approval process for a Federal Bank Gold Loan is quick and efficient. This allows borrowers to gain access to funds rather quickly so that they can deal with their financial situations without any delay.

The Federal Bank Gold Loan comes with easy-to-meet eligibility parameters, which make the entire process easy and straightforward. These include:

• You must be over the age of 18 years or above

• The gold ornaments that you are pledging must be 22 karats

At the time of applying for a Federal Bank Gold Loan, you are required to submit a prescribed list of documents. These include:

Identity Proof

• Aadhaar Card

• PAN Card

• Driving Licence

• Passport

• Voter ID 

Address Proof

• Aadhaar Card

• Ration Card

• Lease Agreement

• Passport

• Trade Licence

• Sales Tax Certificate

• Utility bills (electricity, water, or gas bill)

Recent Passport-size Photograph

• A most recent passport-size photograph is required for the application form and for record-keeping.

Gold Valuation Certificate

• A gold valuation certificate for the gold being pledged is required to understand the current market value.

Here are the Federal Bank Gold Loan interest rates and charges:

Federal Bank is known to offer different types of Gold Loans that cater to a wide range of borrowers. Here are the different types:

General Gold Loans

This gold loan is available for both business and personal use, providing borrowers with immediate financial assistance. They can pledge their gold and receive up to 75% of its market value.

Agricultural Gold Loans

Designed specifically for farmers, this loan helps meet agricultural and allied expenses without financial strain. Borrowers can pledge gold ornaments as collateral and receive up to 90% of their market value.

MSME Gold Loans

This loan is tailored to support Micro, Small, and Medium Enterprises, helping them with business expansion or working capital needs. It allows borrowers to secure up to 75% of their gold’s market value.

Digi Gold Overdraft

This facility enables borrowers to pledge gold ornaments as collateral and access an overdraft for flexible financial needs. Interest is charged only on the amount of money utilised, making it a cost-effective option.

Lower Interest Rates

Federal Bank offers competitive interest rates on gold loans, starting from 9.99% per annum.

Fast Processing and Approval

The bank ensures instant sanction and hassle-free processing, allowing customers to access funds promptly.

Customer-centric Loan Terms

With minimal paperwork, quick disbursement, and flexible repayment options—including lump-sum and EMI—borrowers can choose terms that best suit their financial situation.

Wide Branch Network for Easy Access

Federal Bank's extensive branch network across the country makes it convenient for customers to get gold loan services.

High Loan Amounts

Customers can get loans ranging from a minimum of ₹3,000 to a maximum of ₹150 Lakhs, catering to both small and substantial financial requirements.

Eligibility

Any individual owning 22-karat gold ornaments is eligible to apply for the gold loan, making it accessible to a broad audience.

Security

The pledged 22-karat gold ornaments serve as security for the loan, ensuring a straightforward and secure borrowing process.

Federal Bank has made the process of applying for a gold loan simple to understand and completely online.

Online Application

Here is how you can apply online:

1. Visit Federal Bank’s official website

2. Click on ‘Personal Loans’, and in the drop-down menu listed under ‘Loans’, click on ‘Gold Loans’

3. On this page, click on the ‘Apply Online’ button

4. Upon being redirected, you will need to fill in the application form

5. Enter the required details accurately, along with the captcha code

6. Click on ‘Submit’ to complete the process

Once you have submitted this form, a representative from Federal Bank will contact you regarding the next steps and guide you through the documentation process.

Visiting the Bank Branch

If you are someone who prefers an in-person experience, here is how you can apply at the bank:

1. Visit your nearest Federal Bank branch

2. Approach a customer service representative and request a Gold Loan application form

3. Fill in the physical application form with the required details

4. Submit the completed application form at the branch itself

Once the bank verifies the details that you have submitted, they will get in touch with you for further processing.

Federal Bank offers its customers a comprehensive gold loan EMI calculator on their official website. You can use this EMI calculator to understand your monthly obligation. Additionally, you can even find out how much you will need to pay per month based on the principal amount, total interest payable, and tenure of the loan.

Here is how you can use the Federal Bank Gold Loan EMI Calculator:

1.Visit the Gold Loan Calculator on the Federal Bank website.

2.Enter the following details in the calculator:

• Principal Loan Amount

• Interest Rate

• Loan Term

• Additional payment per month

• Click on ‘Calculate’

3.The calculator will display the following details:

• Equated Monthly Instalments (EMI)

• Total Interest Payable

• Total Payment 

Additionally, you can even get an understanding of your gold loan with the help of the detailed breakdown available in the Amortisation Schedule on the website.