Kotak Mahindra Bank Gold Loan Key Features – Apply Now!
|Kotak Mahindra Bank Gold Loan Interest Rate||7.15% per annum|
|Kotak Mahindra Bank Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,293
|Kotak Mahindra Bank Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|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|
Advantages of Kotak Mahindra Bank Gold Loan:
- Fast processing: The Kotak Mahindra Bank Gold Loan approval and disbursement process is very fast and simple. Normally, the loan passes in an hour.
- Low-Interest Rate: As a guaranteed loan, the interest rate for gold loans is far lower relative to other loans.
- Minimum Documentation: The process of documentation is clear and simple, with a minimum number of documents needed for the approval of the Kotak Mahindra Bank gold loan.
- Transparent system: we do not add secret fees on loan, the bank strives to remain entirely transparent to you.
- Loan Sum: Rs. 15000 is the minimum amount of loan available to customers. Sometimes, in remote areas, it can be less than Rs 10000.
- Jewellery Security: We are totally responsible for the protection of your jewellery. The gold is, therefore, contained in fireproof vaults.
- Loan tenure: Gold loan tenure can be from 3 months to 2 years. Depending on your ease, you can make the option of tenure.
- Benefits for farmers: Kotak Mahindra Bank gives some notable offers for agricultural purposes. This suggests that the bank is offering farmers a slightly lower interest rate on gold loans for agricultural use.
- No Debt Burden: We are aware that circumstances can occur in which an applicant is unable to repay the balance of the loan, in which case the applicant will not be in debt because the bank will only seize the ornaments that you have retained.
- No Income bounds: There are no such restrictions about the salary or income of the lender; hence, anybody with any income range can avail of a gold loan anytime.
How Much Gold Loan can I Get through Kotak Mahindra Bank Gold Loan:
Kotak Mahindra Bank Gold Loan Per Gram – Updated September 2020
Updated - Gold Loan Per Gram Rate
Kotak Mahindra Bank Gold Loan Eligibility:
18-70 years of age Salaried, Self-Employed Minimum 18 Carats
18-70 years of age
Minimum 18 Carats
Kotak Mahindra Bank Gold Loan Documents Required:
2 Passport Size
Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)
Kotak Mahindra Bank Gold Loan Interest Rate, Fees, and Charges:
1.50% of the Principal Loan Amount 2%+GST (Within 3 Months), 0 (After 3 months) Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs 2% p.a. + Applicable rate of interest.
HDFC Gold Loan Interest Rate
7.00% per annum
Late Repayment Charges
Renewal Processing Fees
Rs 350 + GST
1.50% of the Principal Loan Amount
2%+GST (Within 3 Months), 0 (After 3 months)
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
2% p.a. + Applicable rate of interest.
About Kotak Mahindra Bank Gold Loan:
If you face financial difficulties, the most realistic solution, the Gold Loan, is to solve your crises. The loan issued for gold is known as the Gold Loan. The borrower retains his gold ornaments with the lender as collateral and takes the cash. Get prompt approval and a hassle-free method. Accessible with handy documents. A gold loan is a kind of loan that is insured. The person who has a low CIBIL rating may also virtually benefit from this service. One of the best gold loans offers in India is Kotak Mahindra Bank Gold Loan.
Although there is a range of financial banking and non-banking companies that provide you with a gold loan service, Kotak Mahindra Bank Gold Loan is the most commonly taken into account. It is one of India’s most reputed and reliable banks. It is also known for its firm financial services. To apply for the Kotak Mahindra Bank Gold Loan and take advantage of the best deals for your item.
- Kotak Mahindra Bank Gold Loan Interest Rate is 7.15% per annum
- Kotak Mahindra Bank Gold Loan Per Gram is ₹ 5,293
- Kotak Mahindra Bank Gold Loan Tenure: Up to 24 months
- Kotak Mahindra Bank Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST
Types of Kotak Mahindra Bank Gold Loan:
Kotak Mahindra Bank offers various schemes that are listed below related to the Gold Loan product:
- Loan Against Gold – Kotak Mahindra Bank offers gold loans at interest rates to satisfy the dire requirement of funds for any reason, whether personal or technical or not. The gold loan is definitely secured, so the bank has no risk of granting the amount to the person, so it is supplied at a lower interest rate compared to different types of loan merchandise.
- Loan Against Gold for Agriculture – The Kotak Mahindra Bank provides farmers with gold loans explicitly for agricultural functions at a specific interest rate compared to gold loans issued for other different uses. They are given special deals, and they can turn out documentation of the bank land that they are taking the loan for.
Kotak Mahindra Bank Gold Loan EMI Calculator:
Rate of Interest
How to Pay Your Kotak Mahindra Bank Gold Loan EMI?
In the following three alternate ways, your Kotak Mahindra Bank gold loan is normally reimbursed:
- Standing Instruction (SI): Standing Instruction, if you are currently an account holder with Kotak Mahindra Bank, is the easiest and most secure payment form. Your EMI balance from the Kotak Mahindra Bank bank account you display is automatically credited at the end of the month to month balance.
- Electronic Clearing Service (ECS): This payment method is commonly used if you have a record with a non-Kotak Mahindra Bank and would want your EMIs to be debited from the account you refer to us near the decline of the month-to-month phase.
- Post-Dated Checks (PDC): At your nearest Kotak Mahindra Bank loan Centre, you can show your post-dated EMI reports from a non-Kotak Mahindra Bank financial statement. There was a need to grant a different edition of PDCs rapidly. If you remember that Post Dated Checks are advancing to collect non-ECS states because it was, it will be perfect.
Kotak Mahindra Bank Gold Loan Contact Number:
Call 9878981144 for your Kotak Mahindra Bank Gold Loan and obtain immediate support and approval. From all the Kotak Mahindra Bank branches across the world, you will be able to get to know the most efficient deals on Gold Loan out there to make use of the most effective deal relevant to your wishes.
Gold Ornaments Accepted by Kotak Mahindra Bank:
- For example, gold jewellery such as gold bracelets, gold bands, gold anklets, gold necklaces, etc. Kotak Mahindra Bank purchases all these ornaments for a gold loan.
- Quality: The quality of the gold must range from 18 to 22 carats. Any 24-carat gold ornament should not be used when applying for a gold loan.
Use of Kotak Mahindra Bank Gold Loan:
For several functions, the funds raised by the use of the Kotak Mahindra Bank Gold Loan service can be used, such as:
- To fund some personal investments, such as marriage, hiking, higher tuition fees, etc.
- Loan service is always available for any of your selling needs, such as getting materials, creating, promoting, etc.
- Besides, you can also benefit from a Gold Loan for agricultural ideas. The bank has lower interest rates for gold loans that are used for farming or related ventures.
Gold Loan Interest Rate of Major Banks
7.15% – 14.50%
|7.15% – 16.10%|
|Muthoot Finance Gold Loan||
7.15% – 24.00%
|7.15% – 17.00%|
|Manappuram Gold Loan||
7.15% – 26.00%
|7.15% – 15.99%|
|Bank of India Gold Loan||
7.15% – 26.00%
|7.15% – 13.50%|
|IIFL Gold Loan||
7.15% – 12.00%
|7.15% – 14.65%|
7.15% – 12.65%
|Allahabad Bank Gold Loan||
7.15% – 10.45%
|7.15% – 15.75%|
|PNB Gold Loan||
7.15% – 11.75%
|7.15% – 26%|
|SBI Gold Loan||
7.15% – 15.99%
|7.15% – 15.99%|
|UCO Bank Gold Loan||
7.15% – 26.00%
|7.15% – 13.50%|
|Syndicate Bank Gold Loan||
7.15% – 12.00%
FAQs About Kotak Mahindra Bank Gold Loan:
What is Kotak Mahindra Bank Gold Loan?
The Kotak Mahindra Bank Gold Loan is a form of loan that can only be used for urgent financial assistance by holding your gold with the bank as collateral protection. Often based on deposits, it also comes with competitive interest rates on term loans, overdraft, and EMI. In India, the average Gold Loan disbursement time is just 45 minutes.
How can I get the Gold Loan from Kotak Mahindra Bank?
By visiting any of the gold loan authorising branches in India, you can get Kotak Mahindra Bank Gold Loan otherwise you can apply with BestLoanDeal online from the comfort of your home and get the best deals and offers. It is one of the few leading banks to provide Gold Loan facilities in India.
What is Gold Loan Interest Rate in Kotak Mahindra Bank?
Per year, India’s gold loan rate is 7.15 per cent. The interest rate relies on many constituents, namely: the sum of the loan, the tenure of the loan, the purity of gold, and the bank’s relationship.
How much Gold Loan can I get per gram in Kotak Mahindra Bank?
The per gramme gold loan you earn at Kotak Mahindra Bank depends on the purity of your gold. To offer a gold loan, Kotak Mahindra Bank accepts gold of purity between 18 carats to 22 carats. You can use up to 5,293 per gram in the Kotak Mahindra Bank Gold Loan.
How to check Gold Loan status in Kotak Mahindra Bank?
All you have to do to decide your Kotak Mahindra Bank Gold Loan status is visit the web page of the Kotak Mahindra Bank loan status tracker and fill in your information within the application given. You can observe the status of your loan directly from anywhere and keep it updated.
How to calculate Gold Loan Interest in Kotak Mahindra Bank?
Via BestLoanDeal EMI Calculator, you can measure the interest on your Kotak Mahindra Bank Gold Loan interest, which gives you exact amounts backed by the details you insert into the calculator.
How to Pay Kotak Mahindra Bank Gold Loan Interest Online?
You can conveniently pay online Kotak Mahindra Bank Gold Loan interest via internet banking on the official Kotak Mahindra Bank loan repayment website or else, using your most preferred payment technique, you can also repay your Kotak Mahindra Bank Gold Loan on Paytm.
What if I can’t pay the interest on Kotak Mahindra Bank Gold Loan for 3 months?
The bank will initially remind you of your incomplete dues if you do not pay your Kotak Mahindra Bank Gold Loan within 3 months. A formal legal notice is distributed solely for repayment and termination of the loan if the payment demands go unheard. The default on your gold loan leads to a drop in your credit score which, along with the confiscation which sale of your gold, makes you vulnerable to legal action by the bank.
How can I apply for EMI Moratorium on Kotak Mahindra Bank Gold Loan?
Currently, between 1 March and 31 August 2020, you can apply for EMI Moratorium on Kotak Mahindra Bank Gold Loan and have to do so by contacting the Bank Customer Service or visiting the nearest branch of Kotak Mahindra Bank.