Indian Bank has decreased its gold loan interest rates by 0.20%, or 20 basis points with effect from Sunday, May 07, 2017. This interest rate cut will reduce the cost of funds for those people who want to avail gold loans.
Indian Bank – Current Gold Loans Interest Rates
New Delhi (Delhi, India), February 24, 2018
Indian Bank Cuts Gold Loan Interest Rate to 12.45% Per Annum
The Indian Bank has decreased its gold loan interest rates by 0.20 percent, or 20 basis points with effect from Sunday, May 07, 2017.
Indian Bank has revised its minimum gold loan interest rate from 12.65 percent to 12.45 percent per annum under the Indian Bank Loan Against Gold Scheme.
Indian Bank’s current interest rate cut will reduce the cost of funds for those people who want to avail Indian Bank gold loans.
Indian Bank Loan Against Gold Scheme – Current Gold Loan Interest Rates
Indian Bank Gold Loan Interest Rate in Loan Against Gold Scheme: 12.45% Per Annum
Indian Bank Gold Loans Rate of Interest is Floating or Fixed: Fixed Rate of Interest
Minimum and Maximum Quantum of Indian Bank Gold Loan: Up to 70% of the Value of the Ornaments
Indian Bank Gold Loan Minimum Borrowing Amount: Minimum Gold Loan Amount is Rs. 25,001
Indian Bank Gold Loan Maximum Borrowing Amount: Maximum Gold Loan Amount is Rs. 5,00,000
Minimum Tenure for the Indian Bank Gold Loan: Minimum Gold Loan Tenure is 6 Months
Maximum Tenure for the Indian Bank Gold Loan: Maximum Gold Loan Tenure is 36 Months
Indian Bank Gold Loan Pre Closure Charges or Prepayment Penalty: Nil Charges or Penalty
Security Requirement for Indian Bank Gold Loan: Pledge of Gold Ornaments
Minimum Age of the Borrower for Getting Indian Bank Gold Loan Sanctioned: Minimum Age 21 Years at the Time of Gold Loan Commencement
Maximum Age of the Borrower for Getting Indian Bank Gold Loan Sanctioned: Maximum Age 60 Years for Salaried Applicants and 65 Years for Self-Employed Applicants at the Time of Gold Loan Maturity
Indian Bank Gold Loan Valuation Charges: Rs. 500 plus GST
Indian Bank Gold Loan Processing Fee and Documentation Charges: 0.56% of the Gold Loan Amount plus GST
Indian Bank Gold Part-Prepayment Penalty: Currently, Indian Bank levies no penalty for part-prepayment towards your Loan Against Gold (Minimum Part-Prepayment Amount is Rs. 5,000)
Indian Bank Gold Foreclosure or Pre Closure Charges: Presently, Indian Bank does not levy any charge for foreclosure of gold loan
Different Options for Making Indian Bank Gold Loan Repayments: The three options for making repayments are (i) Interest payment upfront and repayment of principal amount on maturity date, or (ii) Monthly interest payment and repayment of principal on maturity date, or (iii) Equated Monthly Installment (EMI) option
Indian Bank – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Indian Bank