Axis Bank Gold Loan : Are you facing a sudden financial emergency and want to overcome it? Do you know that a gold loan can help you overcome any financial requirement you may face at any point in your life? Yes, it’s true! Many banks offer gold loan, the one you can think of is Axis Bank. One of India’s largest private sector banks, Axis Bank offers affordable interest rates and flexible gold loan repayment options, making it the right choice for you! To get this loan against your gold, just present your gold ornaments and gold coins. Your gold will act as the required security or collateral for your loan, making it a secured loan and allowing Axis Bank to offer lower interest rates. Obviously, the loan amount will depend on your total gold value. So, if you want to know more about Axis Bank Gold Loan, keep reading!
An Axis Bank Gold Loan Interest Rate
When someone opts for a gold loan or any type of credit facility, the most important thing for that individual is to look at the interest rates. Why? Because interest rates determine the amount of your repayment. So, if the lender provides lower interest rates, the repayment amount would be low compared to the amount at higher interest rates. This will make the loan better suited to your budget.
Axis Bank gold loan interest rates range from 9.75% to 17.00% per annum. The final interest rate will depend on various factors, such as the required loan amount, the relationship with the bank, among others. You also need to remember that Axis Bank uses the Simple Interest method to calculate the interest on your gold loan. As you can see this interest rate is quite affordable considering the current financial market, with Axis Bank Gold Loan you can easily get the loan amount against your gold.
Main Benefits of Axis Bank Gold Loan
Now, after knowing about the interest rates and other important details related to Axis Bank Gold Loan, you must know about the features of this loan that make it one of the most popular products of Axis Bank. Axis Bank Gold Loan offers you several benefits. If you want to know about them in detail, you can check the pointers below so that you don’t even think about Axis Bank Gold Loan. Check them out!
The best thing about this loan facility from Axis Bank is the same day loan disbursement and the safety of your gold you get. Just drop off your gold ornaments or gold coins at any Axis Bank branch. The bank will value your gold and after the required authentication, the amount will be transferred to your bank account.
If you are thinking about the amount of loan you can get for your gold, you should be sure to get the best value for your gold through Axis Bank gold loan. The loan amount can be up to INR 25000 and can be up to INR 20000 and you can choose the loan amount according to your needs. This loan amount will of course depend on the value of your gold.
You will also get enough time for repayment, as you can choose from repayment terms from 6 to 36 months according to your ability to repay and your income.
You are free to use this loan amount for whatever your need is, whether you want to make a down payment on your vehicle or for long-term renovation of your home or to get out of any medical emergency. There is no condition regarding the final use of this amount.
Apart from all these features, you can also earn Axis eDGE reward points for every transaction you make. You can later redeem these reward points for online or offline purchases, recharges and bookings. You will get 150 Axis eDGE Loyalty Points on disbursement of your Gold Loan. Every time you repay your gold loan, you also earn points.
How to Apply for Axis Bank Gold Loan?
Now that you know all about Axis Bank Gold Loan, you might want to know about the way you can apply for it. It can be done by anyone through both online and offline methods. If you want to know more about it, you can check the detailed information about both these methods.
In an age where you can order anything from your smartphone, you can also apply for a gold loan using your phone or laptop. All you need is an internet connection. So the first thing you should do is to go to the official website of Axis Bank. Here you will see the Gold Loan section. When you get to this section, you can do two things – you can find an Axis Bank branch near you where you can go and apply for a gold loan or you can go to the forms section where you can download the Axis Bank Gold Loan Application Form.
In this application form, you will have to fill several details like your name, email id, address, city of residence, purpose of loan, whether you are an existing customer of the bank or not, PAN number, employment details and many more other things. If everything goes well, you will receive the borrowed amount on the same day.
If you are someone who doesn’t want to opt for the online method and wants to go the traditional route, you can go for it too. After finding the nearest branch, just go there and the representatives will take care of everything. They will tell you all about the Axis Bank Gold Loan and also your eligibility so that you can make an informed decision. Even there you will have to submit your documents with a duly signed application form. The bank will assess the value of your gold and then decide on the loan amount.
What documents will you need for application of Axis Bank Gold Loan?
After familiarizing yourself with the application process, you might think about the part where we mentioned that you will need to submit several documents. When accepting any kind of loan, it is an important part of the documentation. To apply for an Axis Bank gold loan, you will need to submit several documents. Your application may be rejected if you are missing any documents from this list.