Federal Bank offers gold loans starting at 8.15% per annum for loan amounts up to Rs 1.5 crore and tenures of up to 3 years. You can avail a Federal Bank gold loan by pledging 22-carat gold ornaments. Additionally, the bank provides a Digi Gold Overdraft facility, offering overdraft and additional benefits such as free insurance coverage on gold ornaments, locker facility, and the option to replace or release gold ornaments during the gold tenure.
| Federal Bank Gold Loan Highlights | |
|---|---|
| Interest Rate |
|
| Loan Amount | Rs 1,000 to Rs 1.5 crores |
| Loan Tenure | 1 year to 3 years |
| Gold Loan Repayment Facility | EMI, Lumpsum |
| Collateral | Pledge of 22 carat gold ornaments |
Federal Bank offers gold loan interest rates starting from 8.15% per annum. The interest rates provided by the bank are both floating and fixed in nature.
| Particulars | Interest Rates (p.a.) |
|---|---|
| Fixed interest rates | 9.79% onwards |
| Floating interest rates | 8.99% onwards |
| Fed Smart Saver Gold Loan | 8.15% onwards |
Here are the gold loan rates per gram for various schemes offered by Federal Bank:
| Scheme | Maximum rate per gram |
|---|---|
| Agri Gold Loans | Up to 90% of market value of gold |
| Non Agri Gold Loans | Up to75% of market value of gold |
| General Gold Loans | 75% of market value of gold |
| MSME Gold Loans | 75% of market value of gold |
Also read: Best Gold Loan Interest Rate
| Bank/NBFC/Fintech | Interest Rate | |
|---|---|---|
| State Bank of India | 8.75% p.a. onwards | Apply Now |
| Axis Bank | 17% - 19% p.a. onwards | Apply Now |
| Punjab National Bank | 9.25% p.a. onwards | Apply Now |
| Bank of India | 8.80% p.a. onwards | Apply Now |
| IndusInd Bank | 8.80% p.a. onwards | Apply Now |
| Bank of Baroda | 9.40% p.a. onwards | Apply Now |
| Union Bank of India | 9.30% – 10.65% p.a. | Apply Now |
| Canara Bank | 9.25% p.a. onwards | Apply Now |
| HDFC Bank | 8.50% - 15.97% p.a. | Apply Now |
| Federal Bank | 8.99% p.a. onwards | Apply Now |
| ICICI Bank | 10% p.a. onwards | Apply Now |
| Bajaj Finserv | 9.50% – 28% p.a. | Apply Now |
| Manappuram Finance | 12% p.a. onwards | Apply Now |
| Bank of Maharashtra | 9.30% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8% - 24% p.a. onwards | Apply Now |
| Indian Bank | 0.77% per month | Apply Now |
| IIFL Finance | 11.88% - 27% p.a. | Apply Now |
| Rupeek | 8.88% p.a. onwards | Apply Now |
| Muthoot Finance | 10.90% p.a. onwards | Apply Now |
| Shriram Finance | 11.40% p.a. onwards | Apply Now |
Fed Smart Saver Gold Loan
The Fed Smart Saver Gold Loan offers a bullet repayment facility. This means that borrowers do not need to service the interest component at monthly intervals. Instead, they can repay both the interest and principal components on the date of loan maturity.
General Gold Loan
Federal Bank provides gold loans against the security of 22-carat gold jewelry or ornaments. Applicants can utilize this loan for various personal purposes such as car purchase, marriage, education, or other expenses, excluding speculation.
Loan amount
Applicants can avail loans for amounts up to Rs 1.5 crores.
LTV Ratio
Borrowers can withdraw an overdraft facility for up to 72% of the value of the gold pledged as collateral.
Repayment Facility
Applicants can repay the interest on their gold loans either through the EMI scheme option, i.e., on a monthly basis, or as a lump sum.
Digi Gold Overdraft
Borrowers can utilize Digi Gold Overdraft for various personal purposes including online shopping, fund transfer, and bill payments directly from their loan account.
Federal Bank offers the following additional facilities along with its gold loan services:
Also read: Best Gold Loan EMI Calculator
| Schemes | Charges |
|---|---|
| General Gold Loan | Rs 180 to Rs 270 |
| Kisan Gold Scheme | Rs 530 to Rs 1700 |
| MSME Gold Loan | Rs 180 to Rs 270 |
| ISS KCC GOLD | 0.80% of sanctioned limit |
| Digi gold | 0.25% of the loan amount (Minimum Rs 500) |
| GL Graded Interest Rate Scheme | 0.35% of the loan amount (Minimum Rs 350) |
| Fed Smart Saver Scheme | 0.50% of the loan amount (Minimum Rs 500) |
| Digi Gold NRI Variant | 1% of the loan amount (Minimum Rs 500) |
| Sanction Limit | Safe Custody Charges |
|---|---|
| Above Rs.5 lakh | Rs 200 |
| Above Rs.3 lakh to Rs.5 lakh | Rs 150 |
| Above Rs.25,000 to Rs.3 lakh | Rs 100 |
| Up to Rs.25,000 | Nil |
| Product | Charges |
|---|---|
| Other Permitted Gold loan schemes | Rs 250 for each security operation |
| OD-Digi-Gold & OD-Digi-Gold-NRI | Nil for the first 2 security operations in a month |
| Loan Type | Charges |
|---|---|
| Agri Gold Loans | 14.50% applicable from the due date |
| Non-Agri Gold Loans | 16.50% applicable from the due date |
| Sanctioned Limit | Appraiser Charges |
|---|---|
| Above Rs 5 lakh | Rs 140 per lakh |
| Above Rs 3 lakh to Rs 5 lakh | Rs 430 |
| Above Rs 2 lakh to Rs.3 lakh | Rs 300 |
| Above Rs 1 Lakh to Rs 2 Lakh | Rs 220 |
| Above Rs 50,000 to Rs 1 Lakh | Rs 200 |
| Above Rs 25,000 to Rs 50,000 | Rs 140 |
| Up to Rs. 25,000 | NIL |
Federal Bank provides gold loans against 22 carat gold ornaments to applicants aged 18 years and above, including NRIs.
Also read: Best Gold Loan Eligibility
Here is the detailed list of documents required for availing a Federal Bank Gold Loan:
Also Read : Best Gold Loan Documents Required
Here are the features and benefits of availing a gold loan from Federal Bank:
Federal Bank offers a maximum gold loan of ₹1.5 Crore. However, the amount you can receive depends on the purity and weight of your gold items, as well as the loan-to-value (LTV) ratio.
The minimum loan amount for gold loans from Federal Bank is Rs. 1,000.
You can contact Federal Bank customer care by dialing +91-484-2630994.
Yes, with the part release facility, you can retrieve some of the mortgaged jewelry by paying an amount equivalent to its value.