ICICI Bank Gold Loan


ICICI Bank gives loans using gold as security. You can borrow up to Rs 1 crore for 6 months or 1 year at 10% interest per year. You can pledge your gold jewelry or 24-carat gold coins from Indian banks. If you already have a gold loan with ICICI, you can get more money without putting up extra collateral.

ICICI Bank Gold Loan Highlights
Interest Rate10% p.a.
Processing Fees1% of the loan amount
Valuation ChargesUp to Rs 1,250
Foreclosure ChargesUp to 1% of the outstanding principal
Loan Tenure6 months and 1 year
Loan AmountUp to Rs 1 crore
Gold Loan Repayment FacilityAt the end of your loan period or when you make partial payments.
CollateralYou can use your gold jewelry or 24-carat gold coins from different Indian banks as collateral.

ICICI Bank Gold Loan Interest Rate

ICICI Bank charges a 10% annual interest rate for gold loans. The interest rate may vary based on factors such as the applicant's credit profile, loan tenure, quality of the gold jewelry used as collateral, and the type of gold loan facility chosen.

Also read: Best Gold Loan Interest Rate

Gold Loan Interest Rates Offered By Partner Banks & NBFCs

Bank/NBFC/FintechInterest Rate 
State Bank of India8.75% p.a. onwardsApply Now
Axis Bank17% - 19% p.a. onwardsApply Now
Punjab National Bank9.25% p.a. onwardsApply Now
Bank of India8.80% p.a. onwardsApply Now
IndusInd Bank8.80% p.a. onwardsApply Now
Bank of Baroda9.40% p.a. onwardsApply Now
Union Bank of India9.30% – 10.65% p.a.Apply Now
Canara Bank9.25% p.a. onwardsApply Now
HDFC Bank8.50% - 15.97% p.a.Apply Now
Federal Bank8.99% p.a. onwardsApply Now
ICICI Bank10% p.a. onwardsApply Now
Bajaj Finserv9.50% – 28% p.a.Apply Now
Manappuram Finance12% p.a. onwardsApply Now
Bank of Maharashtra9.30% p.a. onwardsApply Now
Kotak Mahindra Bank8% - 24% p.a. onwardsApply Now
Indian Bank0.77% per monthApply Now
IIFL Finance11.88% - 27% p.a.Apply Now
Rupeek8.88% p.a. onwardsApply Now
Muthoot Finance10.90% p.a. onwardsApply Now
Shriram Finance11.40% p.a. onwardsApply Now

ICICI Bank Gold Loan Processing Fees, Foreclosure Fees & Other Charges

Processing Fees & Other Charges

ParticularsCharges
Processing FeesUp to 1% of the loan amount
Documentation ChargesRs 199
Top Up Charges1% of top up amount, subject to a minimum of Rs 250
Renewal Charges

For loans:

  • Up to Rs 50,000: Rs 300
  • Above Rs 50,000 to Rs 1 lakh: Rs 350
  • Above Rs 1 lakh to Rs 2 lakh: Rs 500
  • Above Rs 2 lakh: Rs 1,000
Valuation Charges

For loans:

  • Up to 1 lakh: Rs 100
  • Above 1 lakh to 2 lakh: Rs 200
  • Above 2 lakh to 3 lakh: Rs 300
  • Above 3 lakh to 4 lakh: Rs 400
  • Above 4 lakh to 5 lakh : Rs 500
  • Above 5 lakh to 10 lakh : Rs 750
  • Above 10 lakh: Rs 1,250

Loan Related Recovery Charges

ParticularsCharges
Overdue Handling Charges
  • Rs 750: If a notice is delivered to the communication address and no paper publication is required.
  • Rs 1,700: If no notice is delivered to the communication address but paper publication is necessary.
  • Rs 300: For sending an auction notice, in addition to the charges mentioned in points 1 and 2.
  • Rs 200: For sending a loan recall notice, in addition to the charges mentioned in points 1 and 2.
Paper advertisement chargesAt actuals
Auction charges for re-possessed assetAt actuals
Charges incurred in filing a legal suitAt actuals

Foreclosure Charges

ParticularsCharges
12 months product

1% of the outstanding principal if the loan is foreclosed within 11 months of disbursal.

No foreclosure charges if the loan is foreclosed after 11 months of loan disbursal.

6 months product

1% of the outstanding principal is charged if the loan is foreclosed within 5 months of disbursal.

No foreclosure charges are applicable if the loan is closed after 5 months of disbursal.

Eligibility Criteria for availing ICICI Gold Loan

ICICI Bank provides gold loans to individuals aged between 18 and 70 years old.

Also read: Best Gold Loan Eligibility

Documents Required for ICICI Gold Loan Application

Here's what you need to apply for an ICICI Bank Gold Loan:

  • 2 passport size photographs
  • Proof of land holding if applying for an agricultural loan of more than Rs 1 lakh
  • Supporting documents for an Allied Agri Activity Loan of more than Rs 5 lakh
  • Any one of the following ID proofs: Passport Copy, Voter ID Card, Driving License, Aadhaar Card, or Ration Card
  • Address Proof: You can submit a copy of your Driving License, Passport, Job Card issued by NREGA, Voter ID Card, or Aadhaar Card

Also Read : Best Gold Loan Documents Required

Features of ICICI Bank Gold Loan

  • Documentation: The paperwork is easy, and you'll benefit from competitive rates per gram.
  • Interest rate: The interest rate for the gold loan varies between 10% p.a. to 19.76% p.a.
  • Get a loan instantly: You can quickly get a gold loan ranging from Rs. 10,000 to Rs. 15 Lakhs. Just visit any ICICI Bank branch offering Gold Loan with your jewelry to get started.
  • Safety: Your precious jewelry's safety is a top priority at ICICI. Experts at the bank assess the value of your gold in front of you, seal it in a secure pouch, and store it in the bank's vault. This process is transparent and secure, ensuring your peace of mind when leaving your gold with ICICI.
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Frequently Asked Questions

You can borrow a minimum of Rs. 10,000 and a maximum of Rs. 15 Lakhs as a gold loan.

Yes, if you change your residential or business address, you must notify ICICI Bank within 7 working days. You can provide the updated details in writing to the bank.

Interest on ICICI Bank gold loans is calculated as simple interest, which remains fixed and is calculated on a reducing balance basis.

You can repay the loan by using methods such as cheque, cash, demand draft (DD), or through funds transfer. Once the bank receives the borrowed amount, your jewelry will be released.