The ICICI Bank Gold Loan is designed for your convenience.
Documents required:
1. Two passport size photographs
2. Any one ID proof such as Driving License / Passport Copy / Voter ID Card / Aadhaar Card / Ration Card needs to be submitted
3. Any one Address proof such as Driving License / Voter ID Card / Aadhaar Card / Passport Copy/ Job Card issued by NREGA needs to be submitted
4. Proof of land holding in case of an Agriculture Loan of more than Rs 1 lakh
5. Proof of supporting documents for an Allied Agri Activity Loan of more than Rs 5 lakh.
Gold Loan Interest Rate and Charges
| Description | Minimum | Maximum |
|---|---|---|
| Loan Amount | Rs 50,000 | Rs 10,000,000 |
| Loan Tenure | 6 months | 12 months |
Interest rate range*: (Q2- July 2023 TO September 2023)
| Minimum | Maximum | Mean | Penal Interest |
|---|---|---|---|
| 10% | 17.95% | 14.62% | 6% |
*Terms and Conditions applied
NOTE:
It includes various categories like loan amount, customer relationships etc.
Mean rate = Sum of rate of all loan accounts/ Number of all loan accounts
| Particulars | Twelve months product | Six months product |
|---|---|---|
| Processing Fees | 1.0%* of loan amount | 1.0%* of loan amount |
| Foreclosure charges | 1%, If a/c is closed within 11 months | 1%, If a/c is closed within 5 months |
| NIL, If a/c is closed after 11 months | NIL, If a/c is closed after 5 months | |
| Gold OD - 1% of the facility amount, if the facility is prepaid within 11 months or post 30 days of auto-renewal. | NA | |
| Valuation Charges | For loans: Up to 1 lakh: Rs 100 Greater than 1 lakh up to 2 lakh: Rs 200 Greater than 2 lakh up to 3 lakh: Rs 300 Greater than 3 lakh up to 4 lakh: Rs 400 Greater than 4 lakh up to 5 lakh : Rs 500 Greater than 5lakh up to 10 lakh : Rs 750 Greater than 10 lakh: Rs 1250 |
|
| Top Up Charges | 1% of Top Up amount Subject to minimum of Rs 250 |
|
| Documentation Charges** | Rs 199 | |
| Renewal Fees | For loans: Up to Rs 50,000: Rs 300 Greater than Rs 50,000 up to Rs 1 lakh: Rs 350 Greater than Rs 1 lakh up to Rs 2 lakh: Rs 500 Greater than Rs 2 lakh: Rs 1,000 |
Loan related recovery charges:
| Particulars | Charges Levied |
|---|---|
| Overdue Handling Charges | 1. Rs 750 where a Notice has been delivered to the communication address and a paper publication is not required 2. Rs 1,700 where no Notice has been delivered to the communication address and the paper publication is to be done 3. Rs 300 for sending an Auction Notice, over and above preceding points 1 and 2. 4. Rs 200 for sending a Loan Recall Notice, over and above preceding points 1 and 2. |
| Auction charges for re-possessed asset | At Actuals |
| Charges incurred in filing a legal suit | At Actuals |
| Paper advertisement charges | At Actuals |
Notes:
GST, TDS, other government taxes, stamp duty, levies, etc. as per prevailing rate will be charged over and above these charges. The above fees will not be applicable for agricultural loans up to Rs 25,000 per customer.
**Applicable for flexi Gold Loan product.
* T&C apply
Annual Percentage Rate
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and processing fee.
The APR calculator does not include charges like stamp duty, Prepayment charges etc.
To calculate the same, please click here to download the APR calculator.
*Terms and Condition apply
You can now walk into any of our ICICI Bank Branches offering Gold Loans with your jewellery and avail a Gold Loan of any value from Rs 50,000 to Rs 1 crore instantly. With our simple and easy documentation process, the loan can be availed across the counter in just a few steps.
Your gold is safe with us. It will be valued in your presence, sealed and kept in a safe Vault. The Vault is a highly secure facility within the Bank, ensuring you have complete transparency and peace of mind. Whenever you wish to take your gold back, it will be handed over in the same state as it was submitted.
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