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%
  • 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
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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

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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

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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.
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FAQs on Kotak Mahindra Bank Gold Loan

1. Will I be required to provide any income documents?

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

2. What are the different loan tenures available under the gold loan scheme offered by Kotak Mahindra Bank?

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

3. What is the minimum and maximum loan amount that I can avail?

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

4. What are the ornaments that I can provide as security?

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.

5. Can I calculate the Gold Loan EMI on the official website of Kotak Mahindra 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.

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