Gold Loan HDFC BANK Services Available
A gold loan is a secured loan where you pledge your gold jewellery to the bank in exchange for instant funds. The bank evaluates the purity and weight of your gold, approves a loan amount based on its value, and keeps the gold safely. You repay the loan with interest, and your gold is returned after full repayment.
For an HDFC Bank gold loan, there is generally no strict minimum salary requirement because it is secured against your gold. Approval mainly depends on the purity and value of your gold ornaments and your basic KYC. Salaried, self-employed, homemakers and pensioners can all apply, even with irregular income, subject to bank policy.
The minimum gold required for a gold loan depends on the bank’s internal policy, but usually even small quantities of eligible gold jewellery can be accepted if they meet minimum loan value criteria. In HDFC Bank, the loan amount is calculated based on weight and purity, so you can start with modest gold holdings and still get usable funds.
HDFC Bank gold loan tenure typically ranges from a few months up to a few years, depending on the specific product variant and your requirement. Many borrowers choose tenures between 3 and 24 months for flexibility. You can repay through EMIs, bullet repayment or part-payments, as per the loan scheme offered by the bank.
The gold loan amount on 10 grams of gold depends on purity, current gold price and the loan-to-value (LTV) ratio allowed by RBI and the bank. HDFC Bank will test purity and then apply its LTV to arrive at an eligible loan amount. You receive a percentage of the gold’s value, not the full market price.
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30 min Meeting
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08:00 AM - 08:30 AM, Thursday, Nov 24, 2024
Indian Standard Time
Shahanab
