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 |
|
| Collateral | Gold ornaments and gold coins |
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
| 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 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:
|
Also read: Best Gold Loan EMI Calculator
Also read: Best Gold Loan Eligibility
Also Read : Best Gold Loan Documents Required
Here are some features of availing gold loan from Kotak Mahindra Bank are given below:
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.
