Kotak Mahindra Bank Gold Loan

Gold Loan @ 7%

Apply & Get Instant Money

Kotak Mahindra Bank Gold Loan Key Features

Kotak Mahindra Bank Gold Loan Amount Up to Rs. 1 Crore (With Income Proof)
Kotak Mahindra Bank Gold Loan Interest Rate 7.0% per annum
Kotak Mahindra Bank Gold Loan Per Gram Rate Per Gram Today is ₹ 5,268
Kotak Mahindra Bank Gold Loan Processing Fee 1.50% of the Principal Loan Amount
Kotak Mahindra Bank Gold Loan Prepayment Charges 2%+GST (Within 3 Months), 0 (After 3 months)
Kotak Mahindra Bank Gold Loan Repayment Tenure 3 Months to 24 Months
Kotak Mahindra Bank Gold Loan Repayment Scheme Bullet Payment Scheme, Overdraft Scheme

Why Kotak Mahindra Bank Gold Loan?

If the Gold is lying in your safe at home or locker, then you have to pay for that and locker does not provide you with safety. So you can use your Gold and get a loan against Gold. If you are going through a financial crisis then take help from Kotak Mahindra Bank. Kotak Mahindra Bank Gold Loan avails you the maximum Funding and helps you in overcoming the financial crisis. You can fulfill your personal needs, wedding function, medical emergency or business expansion, etc.

Advantages of Gold Loan

  1. Kotak Mahindra Bank avails high funding to the customer against Gold Loan.
  2. This Bank provides Gold Loan at a low rate of Interest.
  3. It also provides safe and secure custody of the Gold.
  4. It also offers minimum processing fees.
  5. Bank also provides the loan to the customer instantly.
  6. It also offers quick Disbursals and Easy processing.
  7. It also offers easy repayment with multiple modes of payment.
  8. Applicants who are not customers of Kotak Mahindra Bank can also avail this facility.

Eligibility Criteria

  1. Age of an Applicant should be Minimum of 18 years.
  2. Nationality should be India.
  3. Gold ornaments/articles must be having a purity of 18 karat or above, but not 24 karats.

Documents of Kotak Mahindra Bank Gold Loan

Documents requirement is different for the Kotak Mahindra customers and Non-Kotak customers

For the already existing customers in Kotak Mahindra Bank, the documents required for the Gold Loan is just an address proof (only if they have changed their resident and want to update then) Otherwise they don’t need proof of residence

But in case If the Applicant is not the existing customer of Kotak Mahindra Bank then the basic KYC following documents are required.

  1. Identity Proof
  2. Address Proof
  3. Signature Proof and
  4. 3 latest passport size photographs

Fees and Charges

Interest Rate charged by the Kotak Mahindra Bank is 7% to 17% depending on purpose & profile and discretion of the bank.

Loan Processing Charges Up to 2% of the Loan amount.

Documentation Charges are Nil here.

Credit Administration Charges are NIL in Kotak Mahindra Bank.

Credit Appraisal Charges are Minimum Rs. 250 and Maximum Rs. 2000, depends on a number of ornaments, Weight & Bank Loan, first appraisal Minimum Rs. 250, Maximum Rs. 2000, Based on the number of ornaments, Weight & Bank Loan, the second appraisal if required as per bank Norms In Kotak Mahindra Bank there is no appraisal charge for auto renewal.

Commitment Charges are Rs. 1250/- per quarter.

Overdue Interest charged by the bank is 3% of Overdue Amount, compounded monthly.

How to Apply for Kotak Mahindra Gold Loan

There are two ways of Applying for Gold Loan in Kotak Mahindra one is online and another is offline. In the offline process, you have to visit the branch of the Kotak Mahindra Bank and need to fill up the Application form until the sanctioning of the Gold Loan you need to visit the Bank.

In case of the online process, you have to go to the site bookmyloans.in and there you have to fill up the application form. Immediately after that Customer representative of the Kotak Mahindra Bank will contact you and confirm some of the details, they will let you know the eligibility and fix your appointment with the banker. The banker will come to your doorsteps to collect your documents. You just need to visit the bank once at the time of Gold submission. You will get inside the Bank with the Gold and came out of the Bank with the sanctioned loan. It is that easy and instant process.

About Kotak Mahindra Bank

Kotak Mahindra is the most renowned and trustworthy firms in India. It is a private sector bank with its headquarters in Mumbai, Maharashtra. Kotak Mahindra Bank offers banking and financial services to the customer at a very reasonable rate. It offers different types of loan to the customer. If the Gold is lying in your safe at home or locker then you have to pay for that and locker does not provide you with safety. So you can use your Gold and get a loan against Gold.

Gold Loan Interest Rate of Major Banks

Bank

 Interest Rates

HDFC Bank Gold Loan

7.00% – 14.50%

ICICI Gold Loan

7.00% – 16.10%
Muthoot Finance Gold Loan

7.00% – 24.00%

Axis Bank Gold Loan

7.00% – 17.00%
Manappuram Gold Loan

7.00% – 26.00%

Yes Bank Gold Loan

7.00% – 15.99%
Bank of India Gold Loan

7.00% – 26.00%

Federal Bank Gold Loan 

7.00% – 13.50%
IIFL Gold Loan

7.00% – 12.00%

Central Bank of India Gold Loan

7.00% – 14.65%

Canara Bank Gold Loan

7.00% – 12.65%

Allahabad Bank Gold Loan

7.00% – 10.45%

Induslnd Bank Gold Loan

7.00% – 15.75%
PNB Gold Loan

7.00% – 11.75%

Bajaj Finance Gold Loan

7.00% – 26%
SBI Gold Loan

7.00% – 15.99%

Indian Bank Gold Loan

7.00% – 15.99%
UCO Bank Gold Loan

7.00% – 26.00%

Kotak Mahindra Bank Gold Loan

7.00% – 13.50%
Syndicate Bank Gold Loan

7.00% – 12.00%