Allahabad Bank Gold Loan

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Allahabad Bank Gold Loan is a loan that can help meet various financial requirements. The bank offers the customers loan against gold they own. A gold loan is a secured loan and can be availed by businessmen, agriculturists, and farmers. On the other hand, those individuals with good relationship with the bank can also avail the loan. The existing customers can introduce new customers to the bank as well for this loan.

You can find details about Allahabad bank gold loan on, so keep a check on this page for further updated information.

Allahabad Bank Gold Loan Details Updated on 24th February 2020

Loan Amount

Rs. 5,000 to Rs. 25 lakhs

Loan Tenure

Between 6 months and 60 months

Interest Rate

10.20% to 12.45%

Why Choose Allahabad Bank Gold loan?

The Allahabad bank has attractive offer on gold loan. It charges nominal rate of interest. The loan amount can be used for desirable purpose. Loan tenure is flexible and one can get maximum amount as per the gold weight. The procedure for loan sanctioning is transparent and the bank has helped several customers fulfil their financial needs with loan against gold.

Features of Allahabad Bank Gold Loan

  • The bank will take gold (jewelry, ornaments, coins, biscuits, etc) as security. Loan repayment period for Term Loan is 60 months and for Cash Credit is on demand.
  • The valuation of gold (ornaments, jewelry, coins, etc.) will be done by the Jewel Appraiser/Shroff approved by Allahabad Bank. The borrower has to pay the valuation charges.
  • The bank will disburse the loan via credit to the borrower’s CC or SB account or any other relevant account.

Why Apply for Allahabad Bank Gold Loan?

Loanbaba provides comprehensive information about gold loans online by Allahabad Bank. Keep a note of this page to stay updated with recent information on this bank loan scheme. You can also quickly apply for a loan against gold on the bank's official website without having to visit the bank branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

Allahabad Bank Gold Loan Interest Rates

The Allahabad Bank Gold Loan interest rate charged is related to various factors. The interest rates range between 10.20% and 12.45%p.a. The bank has the right to change its interest rates and borrowers have to clarify with the bank about the existing bank rate.

Rate of Interest on Gold Loan by Allahabad Bank:

Loan Purpose

Interest Rate  

For Agricultural purposes

1. For loan up to Rs.50000/-, Base Rate (10.20%)

2.  For loan of Rs.50000/- to Rs.2 lakhs – Base Rate +1.00% = 11.20%

3. For loan of Rs.2 lakhs to Rs.5 lakhs – Base Rate + 2.00% = 12.20%

For domestic/consumption/medical purposes

1.  For loan of Rs.3 lakhs - BR + 2.25% = 12.45%

2. For loan of Rs.3 lakhs to Rs.5 lakhs - BR + 4.00% = 14.20%

For business purposes

1. For loan of Rs.3 lakhs - BR + 2.25% = 12.45%

2. For loan of Rs.3 lakhs to Rs.25 lakhs - BR + 4.00% = 14.20%

Allahabad Bank Gold Loan Eligibility Calculator

Gold loan eligibility may differ from one candidate to another. You can also use free-of-cost gold loan eligibility calculator at

Types of Allahabad Bank Gold loans

The bank has gold loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.

Gold loan Allahabad Bank FAQs

Below provided are important Allahabad Bank Gold Loan FAQs

  • addFAQs
    1. What are the details of loan amount provided for a loan against gold by the bank?
    2. Loan Amount:

      Nature of Loan

      Loan Amount

      For Agricultural purposes

      Minimum Rs.5,000/-
      Maximum Rs.5 lakhs

      For domestic/consumption/medical purposes

      Minimum Rs.20,000/-
      Maximum Rs.5 lakhs

      Loan for business purposes

      Minimum Rs.50,000/-
      Maximum Rs.25 lakhs

    3. What are the eligibility criteria for availing Loan against Gold?
      • The applicant must be above 18 years in age and below 70 years.
      • The applicant can use this loan for farming and related activities, domestic, consumption and medical purpose and for different business needs.
      • The loan will peg 25% margin of the gold’s total valuation.
    4. What is the Maximum Permissible Bank Finance (MPBF)?
    • For Business Needs – The loan amount disbursed will be on the basis of business needs.
    • For Agriculture Purpose – The loan amount disbursed will be on the basis of the Cropping Pattern.
    • In other cases – The loan disbursed will be the lowest, that is; 75% of the gold’s market value.

Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Allahabad Bank.

Allahabad Bank Gold Loan Review

Gold Loan
star star star star star 15.0/5
Allahabad bank provided me an instant response in regards to my Gold Loan application. The processing charges were minimal. It is a trusted service from their team.
Mumbai February 20, 2020
Gold Loan
star star star star star 14.0/5
My experience with Allahabad bank for Gold Loan in Bangalore was a good one. My schedule was so hectic that I chose to apply online for the loan at loanbaba and was not disappointed by either of their service. Both loanbaba and Allahabad were professional in their service.
Mumbai February 20, 2020
Gold Loan
star star star star star 15.0/5
I had applied my Gold Loan in Mumbai at Allahabad bank. I was in dire need of funds and fortunately got the loan amount soon.
Mumbai February 19, 2020
Gold Loan
star star star star star 15.0/5
I requested for Gold Loan in Ahmadabad from Allahabad bank. At first there were some issues as their charges were increasing my expenses than expected, but worked out a solution to it. All thanks to their customer service.
Mumbai February 19, 2020

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401, Lakhani Centrium, Sector 15, CBD Belapur, Navi Mumbai, Maharashtra 400614

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