Kotak Mahindra Bank Gold Loan

Kotak Mahindra Bank provides gold loans starting at 8% per annum for loan amounts up to Rs. 1.5 crore, with a tenure of up to 4 years. You can get a Kotak Gold Loan using your gold jewelry of 18 to 22 karats or bank minted gold coins of 24 karats (up to 50 grams per customer). Borrowers have three repayment options: bullet scheme, EMI scheme, and Vanilla scheme.

Kotak Mahindra Bank Gold Loan Highlights
Interest Rate	8%-24% p.a.
Processing Fees	Up to 2% of loan amount
Loan Amount	Rs 20,000-Rs 1.5 crore
Loan Tenure	Up to 4 years
LTV Ratio	65% to 75%
Repayment	Bullet Repayment- up to 12 months EMI scheme- 1 year, 2 years, 3 years and 4 years Vanilla scheme- up to 3 years
Collateral	Gold ornaments and gold coins

Kotak Mahindra Bank Gold Loan Interest Rate

Kotak Mahindra Bank's gold loan interest rates start from 8% per annum onwards. The interest rates vary based on the type of gold loan and the loan tenure offered to applicants.

Maximum Interest Rate	24% p.a.
Minimum Interest Rate	8% p.a.

Also read: Best Gold Loan Interest Rate

Gold Loan Interest Rates Offered By Partner Banks & NBFCs

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

Kotak Mahindra Bank Gold Loan Fees and Charges

Particulars	Charges
Processing Fee	Up to 2% of loan amount
Documentation Charges	NIL
Credit Administration Charges	NIL
Bo due certificate	NIL to Rs 50
Dishonour charges per instance	Rs 750
Overdue Interest	3% of overdue amount
Swap charges	Up to Rs 500 per swap per instance
Charges for furnishing a copy of credit information report to the applicant	Rs 50
Prepayment/Foreclosure Charges	Bullet Loan up to 12 months: If foreclosed within 6 months- Up to 2% If foreclosed after 6 months- NIL

Also read: Best Gold Loan EMI Calculator

Eligibility Criteria for Availing Kotak Gold Loan

Gold ornaments pledged should be between 18 to 22 karats.
Applicants must be between 18 and 75 years old. If above 70, a co-borrower is needed.
Bank-minted gold pledged should be 24 karats and up to 50 grams per customer.

Also read: Best Gold Loan Eligibility

Documents Required for Availing Gold Loan from Kotak Mahindra Bank

For Existing Customers of Kotak Mahindra Bank-

Signature proof
Latest address proof
PAN card is mandatory if annual income exceeds Rs 5 lakh

For Others-

2 passport size photographs
PAN card (mandatory) if annual income is above Rs 5 lakh
Address Proof
Signature Proof
ID Proof

Also Read : Best Gold Loan Documents Required

Repayment Options available in Kotak Mahindra Bank Gold Loan

EMI Scheme: Repayment can be made over 1, 2, 3, or 4 years.
Bullet Repayment Scheme: You can repay the loan within 12 months. It can be renewed for another 2 years with the same documents. Interest payments can be made quarterly, half-yearly, or annually.
Vanilla Scheme: Available for a 3-year tenure. No need to renew the loan during this time if you choose monthly interest repayment.

Features of availing gold loan from Kotak Mahindra Bank

Here are some features of availing gold loan from Kotak Mahindra Bank are given below:

Higher loan-to-value ratio.
Multiple payment modes available for loan repayment.
Minimal documentation required for availing a gold loan.
Flexible repayment tenure options to choose from based on your needs.
Your gold is kept safe and secure by the bank once the loan is approved.
Instant approval if you meet eligibility criteria and submit correct documents.
Excellent customer care service available for addressing any queries or concerns.

Frequently Asked Questions

If you're availing a loan up to Rs. 10 lakh, you won't need to provide any income documents.

You can choose a loan tenure ranging from a few months to 4 years based on your needs.

The minimum loan amount you can get is Rs. 20,000, and the maximum is Rs. 1.5 crore.

You can provide any type of gold ornament or coin that is 18 karats or higher in purity. However, items like gold wristwatches, gold statues, mangalsutra, thali, raksha, kodi, etc., cannot be provided as security to the bank.

You can visit Kotak Mahindra Bank's official website and go to the 'Gold Loan' section. Click on the 'Gold Loan EMI Calculator' link, which will take you to a separate page. Enter details like gold weight, karat, loan amount, repayment mode, loan tenure, and interest rate. Then, you can see the monthly EMI you need to pay.