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 Rate | 10% p.a. |
| Processing Fees | 1% of the loan amount |
| Valuation Charges | Up to Rs 1,250 |
| Foreclosure Charges | Up to 1% of the outstanding principal |
| Loan Tenure | 6 months and 1 year |
| Loan Amount | Up to Rs 1 crore |
| Gold Loan Repayment Facility | At the end of your loan period or when you make partial payments. |
| Collateral | You can use your gold jewelry or 24-carat gold coins from different Indian banks as collateral. |
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
| 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 |
| Particulars | Charges |
|---|---|
| Processing Fees | Up to 1% of the loan amount |
| Documentation Charges | Rs 199 |
| Top Up Charges | 1% of top up amount, subject to a minimum of Rs 250 |
| Renewal Charges | For loans:
|
| Valuation Charges | For loans:
|
| Particulars | Charges |
|---|---|
| Overdue Handling Charges |
|
| Paper advertisement charges | At actuals |
| Auction charges for re-possessed asset | At actuals |
| Charges incurred in filing a legal suit | At actuals |
| Particulars | Charges |
|---|---|
| 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. |
ICICI Bank provides gold loans to individuals aged between 18 and 70 years old.
Also read: Best Gold Loan Eligibility
Here's what you need to apply for an ICICI Bank Gold Loan:
Also Read : Best Gold Loan Documents Required
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.
