Indian Overseas Bank Gold Loan

Indian Overseas Bank's gold loan offers a reliable financial solution to meet your urgent needs by pledging your gold ornaments or jewels. With this loan, you can access flexible loan amounts that will fit your requirements, enjoy attractive interest rates, and benefit from convenient loan tenures. Whether you need funds for medical emergencies, education, or other financial obligations, an Indian Overseas Bank gold loan will provide a quick and secure way to access the money you need without the hassle of lengthy approval processes.

Table of Contents:

• ⇾ Indian Overseas Bank Gold Loan Details
• ⇾ IOB Gold Loan Interest Rates and Charges
• ⇾ Indian Overseas Bank Gold Loan Eligibility Criteria
• ⇾ Documents Required for Indian Overseas Bank Gold Loan
• ⇾ Features and Benefits of Indian Overseas Bank Gold Loan
• ⇾ Indian Overseas Bank Gold Loan Schemes
• ⇾ Gold Loan Interest Rates by Banks & NBFCs
• ⇾ Steps to Apply For Indian Overseas Bank Gold Loan
• ⇾ Indian Overseas Bank Gold Loan Calculator
• ⇾ Frequently Asked Questions

Indian Overseas Bank Gold Loan Details

Indian Overseas Bank Gold Loan offers a simple and secure way to obtain funds by pledging your gold assets. Given below is an overview of the details offered by Indian Overseas bank:

IOB Gold Loan Interest Rates

You can get attractive Indian Overseas Bank Gold Loan interest rates and minimal charges, ensuring an affordable and accessible option for quick financial support. Here are the interest rates offered by IOB gold loan:

IOB Gold Loan Interest Rates Fees & Charges

IOB Gold Loan Eligibility Criteria

Indian Overseas Bank Gold Loans have simple eligibility criteria that are simple, making it easy for you to access funds by pledging their gold. These are:

• Minimum Age: 18 years and above.
• Gold Ownership: Individuals must own gold ornaments, jewellery, or coins.
• Coins Eligibility: Loans can be granted against specially minted pure gold coins sold by Indian Overseas Bank or other banks, with a maximum weight of 50 grams per customer.
• Customer Status: Both existing and new customers willing to open an account with Indian Overseas Bank are eligible.

Documents Required for Indian Overseas Bank Gold Loan

To apply for a gold loan at Indian Overseas Bank, you need to submit the following documents:

• Identity Proof: A valid ID proof such as an Aadhaar Card, PAN Card, Voter ID, Passport, or Driver’s License.
• Address Proof: Any government-approved document showing your current address, such as a utility bill, Aadhaar Card, Passport, or Voter ID.
• Photographs: Recent passport-sized photographs.
• Proof of Ownership: Documents proving ownership of the gold ornaments/jewelry/coins being pledged.
• Loan Application Form: A duly filled loan application form was provided by the bank.
• PAN Card: Required if the loan amount exceeds ₹5 lakhs.

IOB Gold Loan Features & Benefits

Indian Overseas Bank offers a gold loan designed to address your financial needs with ease and efficiency. Here are the key features and benefits:

• Gold Loan Amount: You can get flexible loan amounts ranging from ₹25,000 to ₹50 lakhs.
• Express Speed of Sanction: Benefit from a fast and efficient loan approval process, ensuring timely access to funds.
• Competitive Interest Rate: You can enjoy attractive interest rates ranging from 7.00% - 11.45% p.a.
• Lower Processing Charge: Minimise your costs with low processing fees of 0.15% to 0.30%.
• No Closure Charges: Repay your loan early without incurring any prepayment or foreclosure charges.
• No Documentation Charges: Avoid additional costs with no charges for documentation.
• Tenure: Enjoy flexible loan tenures ranging from 6 months to 60 months.

Indian Overseas Bank Gold Loan Schemes

Indian Overseas Bank provides a variety of gold loan schemes to help you meet different financial requirements:

• KCCJL (Agricultural Jewel Loan): Designed for short-term agricultural needs, offering loans up to ₹10 lakhs with bullet repayment within one year.
• AGTAJ (Agriculture Term Loan - Jewellery): Supports investment in agriculture with loans up to ₹50 lakhs. Repayment can be done flexibly over a maximum period of three years.
• SME Gold JL-Others: Provides up to ₹50 lakhs for investment in MSME sectors, including manufacturing and retail, with bullet repayment in one year.
• IOB Swarnalakshmi: Aimed at women borrowers, offering loans up to ₹5 lakhs for personal or non-productive needs. Features bullet repayment and a free accidental insurance cover.
• IOB Swarna Samridhi: Offers up to ₹10 lakhs for agricultural activities, including crop cultivation and land development, with no margin requirement and bullet repayment.
• IOB Gold Powered RuPay Card: An overdraft facility up to ₹25 lakhs, allowing for daily card usage with specific cash withdrawal and POS limits.
• Housing Loan Margin: Provides up to ₹50 lakhs for margin money, registration charges, and project price escalation related to housing loans. Offers both bullet payment and EMI options.

Gold Loan Interest Rates by Banks & NBFCs

Banks and NBFCs offer attractive interest rates and terms on gold loans, these are:

Steps to Apply for IOB Gold Loan

You can easily apply for an Indian Overseas Bank gold loan through the bank’s website. Here are the steps you can follow:

Step 1: Visit the Indian Overseas Bank website, and go to the Jewel Loan option.

Step 2: Click the Apply Now button.

Step 3: Enter your mobile number, customer ID or account number to start the application.

Step 4: Enter your gold ornament details

Step 5: Enter your loan details.

Step 6: Once your ornaments are appraised and approved, you will get the loan disbursed into your bank account.

Indian Overseas Bank Gold Loan Calculator

The Indian Overseas Bank gold loan calculator is a valuable tool for you to estimate your monthly payments and total interest on a gold loan. It works by entering the loan amount, repayment period, and interest rate to get an estimate of your EMI (Equated Monthly Instalment) and the total Interest Payable.

Using the Indian Overseas Bank gold loan calculator will help you plan your finances better by providing clear insights into your monthly payment obligations and the overall cost of the loan.

Check out more on other gold investment & deposit schemes from the links below:

Check out more on sovereign gold bonds from below: