How to get Gold Loan from ICICI Bank? So you are reading the right post in which right now we will tell you the complete process that how to take gold loan from ICICI Bank, what are the terms and conditions for the loan, and what documents will be required to take this loan. Apart from this, here you will also be given answers to some important questions related to ICICI Bank Gold Loan, so read this article carefully till the end.
What is ICICI Bank Gold Loan
By the way, most people know that to take a gold loan, a bank or finance company is needed, which gives you a loan in lieu of gold. ICICI Bank is the second largest private sector bank in India, with the help of which you can mortgage your gold jewelery like bracelets, necklaces, rings, watches etc. with the bank and the loan you will get on those gold items will be given by ICICI Bank, It is called gold loan.
At present, ICICI Bank is providing its customers with the facility to take a gold loan sitting at home, with the help of which a loan of ₹ 3000 to ₹ 1 crore can be taken immediately. You have to follow certain terms and conditions for this loan.
ICICI Bank Gold Overview
|Loan Name||ICICI Bank Gold Loan|
|Type of loan||Gold Loan|
|Partnership company||ICICI Bank|
|How to Apply Loan||Online Mode / Offline Mode|
|Age to apply for ICICI Bank||over 18 years|
|Use of ICICI Gold Loan||Can meet your daily needs|
|Documents Required||Aadhar Card, Pan Card, Income Proof etc.|
|Credit Limit||₹3000 to ₹1 crore|
|Online Application||Mobile App, Official Website|
How to Get ICICI Bank Gold Loan
To take ICICI Bank Gold Loan, take your gold and go to your nearest ICICI Bank branch with address proof, identity proof, fill the application form for the loan. Ask the bank officer to check your jewelry and verify the documents, wait till the loan is approved, as soon as the loan is approved, the bank will send the money to your account.
How to Take ICICI Bank Gold Loan
There are many ways to take a gold loan from ICICI Bank, through which you can get a loan against your gold sitting at home. To take this loans, you just have to follows steps.
1. Visit Bank Branch:
The easiest and simplest way from ICICI Bank is to go to your nearest bank branch, verify your jewelry and documents, wait for the loan approval, talk to the bank official to know any kind of information. Receive money in account after loan approval.
2. Official Website:
STEP 1. First you go to the ICICI Bank website.
STEP 2. Fill the online application form for ICICI Gold Loan.
STEP 3. Next, here fill your personal details like Name, Mobile no, Pin code, City etc.
STEP 4. Then click on REQUEST A CALL BACK option.
STEP 5. Now you will get a call from ICICI Bank for Loan Confirmation within 45 minutes, where the bank officials can ask about the address to verify the gold.
Note: According to the Reserve Bank of India, do not share the details of OTP, CVV No, Debit Card with anyone, the bank does not allow it. If there is any fraud with you by sharing any kind of information, you yourself will be responsible for it.
3. ICICI Imobile App
STEP 1. Install ICICI imobile App from Google Play Store.
STEP 2. Complete the registration with the help of your mobile number, debit card.
STEP 3. Now click on Loans option.
STEP 4. Here you have to tap on Gold Loan.
STEP 5. After this fill the loan amount as much as you want to take the loan.
STEP 6. Now accept the Terms of Condition.
STEP 7. Here you will be told information related to gold loan like loan amount, interest rate etc. Now you have to clicks on Continue.
STEP 8. After this fill your bank details like account number, IFSC code.
STEP 9. After the loan is approved, the loan amount will be received in the bank.
Note: Before taking loan online, you can visit your nearest ICICI Bank branch where you can get instant loan in a secure way.
The following documents will be required to apply for a gold loan.
- 2 passport size photographs
- Address Proof / ID Proof (Any One) – Driving License, PAN Card
- Form 60/61
- Copy of Passport – Aadhar Card, Voter I Card, Ration Card.
Following criteria eligibility has to be met for ICICI Bank Gold Loans, if you fulfill these conditions and eligibility then you can apply for ICICI Gold Loan immediately.
- First of all, the applicant should have the articles made of gold.
- Applicant should be an Indian citizen.
- The applicant should be above 18 years of age to take the loan.
- Gold articles should have a receipt, declaration form.
- The gold jewelery being presented by the applicant should be in the range of 18 Carat to 24 Carat.
- Address proof, KYC document, mobile number, and identity proof are also necessary to take a loan.
Who Cannot Get Gold Loan
- Gold seller
- Bank does not sanction loans against bullion items like gold bars and biscuits etc.
How Much Gold loan Can be Taken from ICICI Bank
Loan is available from ICICI Bank on the basis of gold ornaments or articles made of gold, ICICI Bank gives gold loan according to the current price of gold.
Here you can take an instant loan of minimum ₹ 3000 and maximum up to ₹ 100,00,000. The bank provides loan amount as per 90% of the gold price.
Loan Submission Deadline
ICICI Gold Loan can be taken for a maximum tenure of 12 months and for a minimum tenure of 3 months. According to the guidelines of RBI, you have to deposit this loan at an interval of 12 months.
This is a secured loan where you have to mortgage your gold jewelery or gold articles with the bank, you will be able to apply for gold loan again on timely repayment of the loan.
What is the Interest rate on ICICI Bank
ICICI Bank Gold loans comes under a secured category, so here the interest rate is lower than the personal loan. The interest rate for ICICI Bank can range from 7% to 32% interest per annum.
This loan can be applied sitting at home. ICICI Bank provides instant loan facility, for this you do not need to go to the banks.
What is the Purity of Gold for ICICI Loan?
ICICI Bank accepts only 22 Carat to 18 Carat gold, furthermore the applicant should have a minimum of 10 grams of gold to get the gold loan.
Fees And Charges
There are some other Fees And Charges for ICICI Gold Loan which are as follows:
1. Interest Rate: The interest rate for ICICI Bank Gold Loans can range from 7% to 32% interest per annum.
2. Processing Fee: Up to 1% processing fee has to be paid. Apart from this, you also have to pay charges for the investigation of jewelry.
3. GST Fee: 18% GST inclusive of all charges.
4. Late Fee: Late payment also has to be paid late, it depends on the loan amount taken by you.
5. Renewal Fee: 0.25% of the loan amount is charged to the applicant for renewing his loan.
Note: Here you get Stamp Duty and Statutory charges are also a part of the Bank. Service tax and other charges may also be payable.
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How to Deposit ICICI Bank Loan?
ICICI Gold Loan can be done through online payment apps like Paytm, Phonepe, Google Pay, Amazon Pay etc. by entering your loan number. Apart from this, you can do it through the official website and Imobile App, Debit Card, Net Banking, Credit Card can be used to pay the loan.
ICICI Bank Features
You can apply for the loan from the official website sitting at home.
- Gold loan is available with minimum documentation.
- Credit score is not required.
- Instant loan approval facility is available.
- Customer support is available 24 hours a day.
- Live chat facility is also available for loan information.
- There are more than 3500 branches in India from where the loan can be applied.
- The confirmation for loan eligibility comes within 45 minutes.
- With the help of ICICI Bank, a gold loans of up to 1 crore can be taken immediately.
ICICI Gold Loan Review
ICICI Bank is the largest bank of a secured private sector, this bank provides you the facility of giving gold loan sitting at home, it gives you instant loan as compared to other banks, apart from this you need any guarantor security to take gold loan. Doesn’t fall I hope today’s article has been helpful for you in which we have provided you information about Gold Loan from ICICI Bank.
Note: Apply for gold loan only if you are in dire need of money, also think about depositing the loan before taking the loan, because if you do not deposit the loan on time, the bank will have a legal form on your gold.