Kotak Mahindra Bank Gold Loan

Kotak Mahindra Bank is a leading financial institution offering lucrative gold loans with minimal documentation requirements and numerous benefits. You can borrow up to ₹1.5 Crores at low interest rates starting from just 0.75% per month. Also, repay the loan over a flexible tenure of up to 4 years. 

Here is an overview of the key features of Kotak Mahindra Bank Gold Loan:

*Disclaimer: The rates and details are subject to change at the discretion of the bank.

The current interest rate starts from 9% and goes up to 24% per annum. The bank fixes the interest rates based on various factors, such as the loan tenure, the purpose of the loan, your profile, and more.

Check this table to know the fees and charges associated with a Kotak Mahindra Bank Gold Loan:

*Disclaimer: The rates and charges in the table are indicative and are subject to change at the discretion of the bank.

To get a Kotak Mahindra Bank Gold Loan, meet the following eligibility requirements:

• You must be an Indian citizen
  

• Your age must be between 18 and 75 years
  

• You need a co-borrower if you are above 75 years
  

• Gold ornaments pledged must be between 18 and 22 karats
  

• Bank-minted coins that you are pledging must be 24 karats and must weigh up to 50 grams per customer only
  

You also need to submit the following documents:

Existing customers:

• Latest address proof (if different than bank records) and signature proof
  

• PAN card if the annual income is more than ₹5 Lakhs
  

New customers:

• KYC documents (address proof, identity proof, signature proof)
  

• 2 passport-size photographs
  

• PAN card if the annual income is more than ₹5 Lakhs
  

• ITR filings for a loan of more than ₹25 Lakhs

You can easily apply for the gold loan online by following these steps:

• Visit the bank’s official website and navigate to the ‘Gold Loan’ page and click on the ‘Regular Gold Loan’ option
  

• Click on ‘Apply Now’ and enter basic details, such as your name, contact details, email ID and city
  

• Agree to the terms and conditions and click on ‘Apply Now’
  

• A bank representative will contact you regarding further steps and documentation process
  

• After submitting your documents, you need to get your gold tested and verified at a branch
  

• Post approval, you will receive the loan amount in your bank account
  
  

To apply for the loan offline, visit the nearest branch office of Kotak Mahindra Bank. Be sure to carry the required documents. Reach out to a bank executive, who will guide you through the application process. Next, schedule a date to get the value of your gold appraised, based on which your loan terms will be determined. Following this, the bank will assess your application and reach out to you for any additional requirements and further proceedings.