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FAQs
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Who can avail of an ICICI Bank loan against gold?
Any individual within the age group of 18 to 75 years is eligible.
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What are the minimum and maximum loan amount?
Minimum individual loan amount:Rs. 5,000/-
Maximum individual loan amount:Rs. 15,00,000/-
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What is the loan tenor option?
The tenor is 45 days, 12 months & 24 months.
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What is the interest rate?
ICICI Bank Loan against Gold jewellery comes to you at attractive interest rates and are based on the prevailing situation in the market at the time of the loan. The rates vary according to the product variant.
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What are the documents that I need to submit?
- 3 passport size photograph
- Proof of Identity
- Proof of Address
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How is the interest on my account calculated?
The interest rate is fixed & is calculated on the reducing balance.
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Do I have to pay any additional fee?
Yes, there is nominal processing fees ,which will be charged to you.
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How much time will it take for my loan to be approved?
Normally takes 20 -25 minutes approximately for the loan to be disbursed.
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Can I partially repay the loan amount?
Yes, (Thereon, interest will be charged on reducing balance).You can make part-payment but the jewels will be released only after the principal amount and interest payment is done.
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Can I prepay my loan?
Yes, the loan can be prepaid; there is a prepayment charges of 0.50% of the loan amount if the loan is prepaid within three months.
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How do I repay the loan amount?
You can repay the loan by cash, DD or Account transfer.
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Are there any charges levied for late payment of interest?
Yes, 2% penal interest on outstanding interest amount
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When will be the gold jewellery auctioned?
The auction process would have to take place 3 months after the due date of repayment has passed.
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How do I approach ICICI Bank for a loan?
You can approach us in any of the following ways
- Call us at our 24 hour customer care center
- Write to us using the "Email Us" option
Visit ICICI Bank branches which are offering loan against gold
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