HDFC Gold Loan Interest Rate 2024: Processing Fee, Documents Required, Eligibility, How to Apply

HDFC Bank is one of the largest private sector banks in India, operating at a large scale and providing customers with several facilities. One such important service that a lot of customers prefer to avail is a gold loan.

A gold loan allows you to pledge your gold to secure a loan. It has become a popular option to get a loan for short-term or personal needs. If you have idle gold at home, you can get a gold loan from HDFC Bank at attractive interest rates. Keep reading to learn more about HDFC gold loan interest rates.

HDFC Gold Loan Interest Rate 2024

Check the table below to know the HDFC gold loan interest rates that customers need to consider while applying for a loan:

HDFC Gold Loan Rate Per Gram

Here is the table that shows you the approximate gold loan rate per gram that HDFC Bank follows:

Note: Please note that the table above explains that HDFC Bank calculates your loan eligibility as per gold rate per gram for gold of different purity.

HDFC Gold Loan Interest Rate for Farmers

The HDFC gold loan interest rate for farmers or the agricultural sector ranges from 8.50% to 17.46%. 

HDFC Gold Loan Appraiser Charges

Appraiser charges against gold loans are the payments done to lenders for analysing the worth of pledged gold. It is important to understand that the appraiser charges for the HDFC Bank gold loan might vary among individuals based on their holdings. 

HDFC Gold Loan Maximum Limit

The minimum limit for each borrower availing of the HDFC Bank gold loan is Rs.25,000 (Rs.10,000 in rural areas). However, no maximum limit is prescribed by the bank. 

HDFC Gold Loan Process

It is very easy to apply for a gold loan by using the internet. Here’s how to apply for a gold loan from HDFC Bank’s website:

Step 1: Visit the official website of HDFC Bank.

Step 2: Click on the ‘Borrow’ tab and then click on ‘Gold Loan’.

Step 3: Click on ‘Apply Online’ button available at the bottom left corner of the screen.

Step 4: Enter your mobile number and date of birth.

Step 5: Check the 1st box to accept HDFC Bank’s privacy policy. You can check the 2nd box if you want HDFC Bank to contact you about the other products they offer.

Step 6: Click on ‘Get OTP’ and complete the OTP authentication.

Step 7: Fill up your personal, contact, and income details and submit the application.

HDFC Bank representatives will contact you after submitting your application. They will assist you in choosing the right gold loan.

You can also go to your nearest HDFC Bank branch with your gold ornaments and relevant documents to apply for a gold loan. After the application form is processed, you should get the loan in 45 minutes.

HDFC Gold Loan Eligibility Criteria

HDFC Bank has laid down the following criteria for availing a gold loan:

• Applicants must be Indian residents between the ages of 18 and 75.
• He/she must be a businessperson, trader, farmer, salaried or self-employed individual.

Documents Required for HDFC Gold Loan

You would have to submit the following documents to get a gold loan from HDFC Bank:

• Passport-size photograph
• PAN card or Form 60
• Passport
• Driving licence 
• Voters’ ID Card
• Aadhaar card issued by UIDAI
• Documents for proving agri-allied occupation. This would be required for bullet repayment by agriculture customers.

HDFC Gold Loan Processing Fee

While applying for a gold loan, the bank charges a certain fee for processing your request. The HDFC gold loan processing fee is 1% of the loan amount.

HDFC Gold Loan Interest Rate Calculator

If you are someone who is new to gold loans, it is always advisable to calculate the interest against your loan so that you can proceed with financial planning accordingly. You can use HDFC Bank’s online gold loan EMI calculator or any online free gold loan interest calculator to see how much interest you will have to pay every month. 

How To Pay Gold Loan Interest In HDFC Online?

There are four ways for you to repay your HDFC Bank gold loan:

• Pay Interest as EMI and Principal Later

You can pay the EMI as per schedule and the principal after the maturity of your loan. The principal can be paid in a single payment. Thus, you will not have to pay the principal during the gold repayment period.

• Partial Payment

In this case, you can pay your interest and principal in instalments. You can decide when you want to make the payment. You can reduce the outstanding loan amount by paying the principal at the outset. This can also reduce the interest you have to pay, as it is calculated on the total outstanding loan amount.

• Bullet Repayment

Under bullet repayment, you pay the interest and the principal at the end of the gold loan’s tenure. As the loan is repaid with a single payment, it is called bullet repayment.

• EMI

In this situation, you pay both the interest and the principal as per a fixed schedule. It is debited regularly from your bank account at fixed intervals. It is best suited for salaried professionals.

How to Close Gold Loan in HDFC?

You can close the gold loan in HDFC Bank by repaying the loan amount. The loan against gold can be repaid through EMIs every month. If you choose the Bullet repayment facility, you will have to repay the interest and principal amount after one year.

HDFC Gold Loan Customer Care

You can call HDFC Bank’s customer care numbers 18002026161 or 18602676161 to resolve your queries and issues about your gold loans.

Overall, the HDFC gold loan interest rate offers you a way to make the most of your gold. Instead of letting it sit idle at your home, you can use it to get a loan for your personal or emergency financial needs. You can visit HDFC Bank’s online calculator to check how much of a loan you can get for your gold and the EMI you will have to pay.

Other Banks Gold Loan Interest Rates:
1. ICICI Bank Gold Loan Interest Rate
2. Canara Bank Gold Loan Interest Rate 
3. Bank of Baroda (BOB) Gold Loan Interest Rate
4. SBI Gold Loan Interest Rate 
5. Canara Bank Gold Loan Interest Rate
6. SBI Gold Loan Interest Rate
7. Axis Bank Gold Loan Interest Rate
8. Central Bank Gold Loan Interest Rate
9. PNB Gold Loan Interest Rate
10. Union Bank Gold Loan Interest Rate
11. Indian Overseas Bank (IOB) Gold Loan Interest Rate
12. Gold Loan Interest Rates 
13. Bank of India (BOI) Gold Loan Interest Rate

Related HDFC Articles:
1. How To Add A Beneficiary In HDFC Bank
2. HDFC NEFT Charges
3. HDFC Car Loan Status Check
4. HDFC Home Loan Statement
5. How To Generate HDFC Credit Card PIN
6. HDFC Bank Timings
7. How To Activate HDFC Credit Card
11. How To Activate HDFC Debit Card