|Federal Bank Gold Loan Details Updated on 17th June 2021|
|Loan Amount||Rs. 1,000 to Rs. 150 lakhs|
|Tenure||6 months to 12 months|
|Interest Rate||8.50% onward|
Federal Bank Gold Loan is for a 12 months period. You can get a loan of up to Rs. 150 lakhs. The acceptable assets to pledge are gold jewellery and bank-sold coins (up to 50 grams). You require only the basic KYC documents to apply for the jewel loan. The bank offers loans to different sectors of society for personal/business/agriculture purposes. There are various repayment alternatives to suit the needs of the borrowers.
In this post, we will discuss Federal Bank gold loan features, eligibility criteria, interest rates, types of jewel loans, documents required, and frequently asked questions.
Here are the features:
Here are the eligibility norms:
Here are details for Federal Bank Gold Loan Interest Rate:
Here are the different types of jewel loans by the bank:
Here are the documents you need to apply for a jewel loan:
Here are the Federal Bank Gold Loan FAQs:
The doorstep gold loan by Ghaziabad. M/s Oro Corp Technologies Pvt. Ltd. Is available in Chennai.
This service for jewel loan by M/s Rupeek Fintech Pvt. Ltd is available in cities such as Coimbatore, Mumbai, Hyderabad, Chennai, Bangalore, Jaipur, Ludhiana, Surat, Indore, Pune, Chandigarh, Lucknow, Kolkata, New Delhi, Mysore, Ahmedabad, Vijayawada, and Rajkot.
Under the Special Gold Loan Scheme, one can avail of the minimum loan amount of Rs.1000/- to the maximum loan amount of Rs.75 lakhs. Not only this, the borrower by availing of this scheme can enjoy a higher amount per gram of their gold. The bank will pledge only 22-carat gold which will also act as collateral. It includes jewellery, ornaments, and coins.
One year is the repayment period. You can opt to repay the loan in instalments or in a lump sum, whichever is suitable. The bank will not charge penalties for paying off the loan in a lump sum. The interest is payable only on the amount you use. You can go for the partial withdrawal of the loan.
Disclaimer : Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Federal Bank.
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