ICICI Gold Loan
ICICI gold loan can be availed to meet urgent need for cash by pledging one’s gold ornaments or gold coins as collateral. A Gold loan is one of the quickest and easiest ways of borrowing money and can be availed by any existing customer of the ICICI Bank as well as new borrowers. With ICICI Bank, you will not only be able to avail of the gold loan easily, but it will also be at a competitive interest rate.
Today Jewel Loan Interest Rate in ICICI Gold Loan is 7.0% per annum.
ICICI Gold Loan Key Features – Apply Now
|ICICI Gold Loan Interest Rate||ICICI Bank Gold Loan is offered at attractive interest rates based on the prevalent market situation. The rates will however vary according to the product variants.|
|ICICI Gold Loan Per Gram||Rate Per Gram Today is up to ₹ 3,589|
|ICICI Gold Loan Age Criteria||18 to 65 years|
|ICICI Gold Loan maximum Loan Amount||Up to 1 crore|
|ICICI Gold Loan maximum Loan to Gold Value Ratio||Up to 75%|
|ICICI Gold Loan Purity of Eligible gold||18 to 22-carat gold|
|ICICI Gold Loan maximum Loan Tenure||10 yrs (After 1-year renewal is required)|
|ICICI Gold Loan min EMI Per Lakh||Rs. 833|
As per RBI guidelines, LTV (Loan to Value) ratio for Gold Loan is 75%.
ICICI Bank issues a Gold Loan per gram rate of ₹ 2,506 to ₹ 3,589 in line with the current gold rate. The best ICICI Bank Gold Loan Rate Per Gram is ₹ 3,589 for 22 Carats gold, measured at a maximum 75% loan to value, and the average gold prices for the last one month for 22 carats is ₹ 3,589.
ICICI Gold Loan Comparison With Other Banks
|Particulars||ICICI Bank||SBI||HDFC Bank|
|Interest Rate||ICICI Bank Gold Loan comes to you at attractive interest rates based on the prevalent market situation. The rates will however vary according to the product variants.||7.50% – 7.50%||9.90% – 17.55%|
|Processing Fees||Up to 1% of the loan amount, minimum Rs. 750||0.50% of the loan amount, minimum Rs. 500||1.50% of the loan amount|
|Loan Tenure||3 months to 10 years||3 months to 36 months||3 months to 24 months|
|Loan Amount||₹ 10,000 to ₹ 1 crore||₹ 20,000 to ₹ 20 Lakh||₹ 25,000 to ₹ 50 Lakh|
|Foreclosure Charges||Up to 1% of the outstanding amount||Nil||Nil after 3 months|
|Lowest EMI Per Lakh||₹ 8,792 per lakh||₹ 3,111 per lakh||₹ 4,610 per lakh|
How To Get ICICI Bank Gold Loan Fast
- ICICI Bank accepts both hallmarked and non-hallmarked jewellery in exchange for money. However, you can get the highest gold loan per gram for any hallmark jewellery because it reduces the chances of under-valuation by the valuer.
- ICICI Bank can adjust the price of 22-carat gold for the purity of gold. Therefore, one should also try to borrow against jewellery of higher purity because it fetches the highest amount for a gold loan.
- ICICI Bank will calculate the net weight of the jewellery to calculate the amount of loan against the gold you can get. You can always try to choose jewellery that has minimum gems and stones. Most of the banks will reduce the weight of gems and stones from the total weight of the jewellery. But ICICI Bank will rely on the report of its gold valuer to calculate the net weight. Higher the weight of gems and stones in jewellery, lower the net weight and value of jewellery which results in a lower amount of jewel loan you can are eligible to get.
Advantages Of ICICI Gold Loan
- Instant Gold Loan: The sum of the Loan in ICICI Bank ranges from Rs. 10,000 to Rs. 1 crore.
- Gold Ornament: The loan can only be availed on loan ornaments.
- Loan Tenure: When it comes to avail a gold loan, then it holds a maximum duration of 10 years.
- Value for Gold: A professional Appraiser will be made available by the bank for evaluating the purity of your gold.
- Safety and security: After figuring out the valuation of Gold, the professionals put the Gold in a sealed pouch, packs it, and safely place it in the vault of the bank. The procedure takes place in the presence of the client. This makes sure that the borrower’s Gold is entirely safe and secured in the bank’s possession.
- Approval duration: Within 30 minutes, you can get the Loan.
- Foreclosure: ICICI bank charges the borrower up to 1% of the outstanding principal debt in the event of a Gold Loan.
- The bank provides special offers to the existing account holders.
- The maximum LTV ratio is 75%, and it is fixed by RBI (Reserve Bank of India).
- Many banks grant higher interest rates for a shorter tenure and lower rates of interest for a higher tenure, but ICICI bank doesn’t do so. The mandate for the gold loan is fixed for all customers. It is up to 10 years.
- The bank provides a Gold Loan for agricultural activities at lower rates of interest.
- The ICICI gold loan calculator makes it easy for you to check the details without having to leave your house.
How much loan can I Get Through ICICI Bank Gold Loan?
ICICI Gold Loan Rate Per Gram is Rs.₹ 2,900 to ₹ 3,450 For 22 carats of jewellery, the Loan is calculated at a maximum LTV of 75%. The loan per gram keeps on changing every day as per the price of the gold.
ICICI Gold Loan Per Gram
|Updated – Gold Loan Per Gram Rate|
|Gold Weight||Gold Purity|
About ICICI Gold Loan
A bank understands the client’needs, and assets and subsequently gives the genuine worth of it at the critical moment through its Gold Loan Facility. Gold Loan with ICICI Bank is one of the natural and quick loans with a reasonable interest rate.
It’s a hassle-free loan facility with no Equated Monthly Installment stresses and quick approval. Gold Loan offers funds for expenses such as education, holiday, agricultural requirement, or other little essentials. With a specific end goal to grab ICICI Gold Loan, you need to apply here.
ICICI Bank is one of the reliable banks in India. It was established in 1994. Loans, insurance, finance, banking, and wealth administration are some commercial outcomes of ICICI bank. Gold loan is one of the most rendered financial results of the ICICI bank.
There are so many banks and non-banking business organizations that grant gold loans now, but ICICI bank is the most trustworthy. The bank has a vast area of the interface, and it has been assisting consumers with high-quality and most secured commercial assistance.
- ICICI Gold Loan Rate of Interest is 7.0% per annum.
- ICICI Bank Gold Loan Rate Per Gram is ₹ 3,589
- ICICI Gold Loan Tenure is up to 10 years. (after 1-year renewal)
- ICICI Gold Loan processing fee is 1% + GST.
ICICI Gold Loan Eligibility
The ICICI Gold loan eligibility requirements are as follows:
|Requirements||Gold ornaments (18-22 carats)|
|CIBIL score||Above 500|
ICICI Gold Loan At Home
Gold Loan at House is a doorstep loan service which allows you to borrow money from the convenience of your own home. The service is rapid, flexible, and cost-effective because interest rates are low. You can use the gold loan calculator to assess the value of your gold or the loan amount before completing a loan request. Obtaining a Gold Loan at home is an easy and quick process that can be done in a matter of minutes.
Within 30 minutes, one of our employees will contact you and arrive at your home. When all e-documentation and gold identification are completed at your residence, the appropriate gold loan amount will be sent directly to your bank account.
Furthermore, there are many benefits of ICICI Gold Loan at Home:
- Fast loan approval
- Lower interest rates
- Maximum value of gold
- Flexible repay tenures
- Easy payment options
- No additional charges
- 24*7 customer support
- Full security of the gold
- No hidden fees
- Service at your doorstep within 30 minutes
ICICI Gold Loan Documents Required
Availing Gold loan from ICICI requires the following documents:
|Identity Proof||Aadhar Card/Pan Card/ Passport/ Voter ID|
|Residence Proof||Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card.|
|Agriculture Proof ( only if applicable)||Agriculture Land Ownership Proof|
|Photographs||2 Passport sized coloured|
ICICI Gold Loan Interest Rate, Fees, and Charges
|ICICI Gold Loan Interest Rate||7.0% per annum|
|Processing Fee||1% of the loan amount|
|Renewal Fees||Rs 250- Rs 500 (depending on the loan amount)|
|Loan Amount||₹ 10,000 to ₹ 1 crore|
|Prepayment Charges||1% of the outstanding principal amount|
|Document Charges||Rs 199 (for loans up to 1-year tenure)|
ICICI Bank Gold Loan Details
ICICI Bank or Industrial Credit and Investment Corporation of India Bank is a public sector bank, hence does not only focus on profits for business but also on the benefit of their customers. ICICI bank gold loan offers us a good deal to its customer and ensures professionalism in its dealings. ICICI Bank gold is quite sought after option in the market due to its additional benefits which are:
- Safety of pledged Gold: The gold is stored in ICICI Bank’s Vault Safe in their Strong Rooms, giving you the confidence of full transparency and peace of mind. In the present, your gold is respected, locked, and stored in the Vault Secure. When you request your Gold back, it will be returned to you in the same condition as when you first sent it.
- Minimal documentation: the documentation demanded is just the basic KYC documents and additional property papers for agricultural gold loan applicants.
|Age Criteria||18 to 65 years|
|Maximum Loan Amount||Up to 1 crore|
|Maximum Loan to Gold Value Ratio||Up to 75%|
|Purity of Eligible gold||18 to 22-carat gold|
|Maximum Loan Tenure||10 yrs (After 1-year renewal is required)|
|Min. EMI Per Lakh||Rs. 833|
Benefits of Gold Loan
A gold loan provides urgent assistance in times of need by allowing a person to obtain the cash within one day. The loan will be used for a variety of items, including the following:
- A gold loan will be used to help children pay for their tuition.
- It will help you grow your market or meet your working capital needs.
- To boost agriculture by purchasing irrigation and other machinery.
- A gold loan will be a lifesaver in the event of a medical emergency.
- To obtain an immediate loan whilst on a holiday
- Gives the impression of having a personal commodity to fund your needs.
Types Of ICICI Bank Gold Loan
- Bullet Repayment: This is the most often used means for short-duration loans when it comes to repayment of Loan Against Gold. In this arrangement, the borrower has to pay the ICICI Gold Loan Interest Rate throughout the tenure of the loan. This means that the principal value has to be settled at the finish of the loan tenure.
- Overdraft Facility: Most popularly used by self-employed people because of the fluctuating money requirements of such business people. Through this service, one can withdraw money according to his own needs.
- EMI Facility: This is another scheme that customers can choose for the repayment mode of the Loan Against Gold. In this, a fixed amount is calculated that the applicant has to pay monthly in the form of monthly instalments. This value includes a part of the principal amount and the Gold Loan Interest Rate.
ICICI Gold Loan Apply Online
The process to apply online for an ICICI Gold Loan is as follows:
- Visit the digital platform of National info.
- Fill a form for a gold loan, with the details like location and amount of gold.
- Our relationship manager will get in touch with you over your provided number.
- Choose the best loan for yourself and avail it instantly with DialaBank.
Applying through National info Website?
In this technological age, the internet has all the solutions. Interested customers can avail of gold loan schemes offered by top Indian Banks and NBFCS by comparing all of them in finding the most suitable loan with the help of National info. National info offers all customers a number of advantages that can not be found anywhere else.
- trustworthy and friendly representatives.
- Quick and convenient scheduling of bank loan appointments.
- Ensuring speedy dispersal of funds to the consumer.
- Always available to help via telephone call option available.
ICICI Bank Gold Loan EMI Calculator
Equated Monthly Installments or EMI suggests a month-to-month fixed rate that you are expected to pay to the bank as a month-to-month reimbursement for the credit sum, which is made sure about. As indicated by your profile, the pace of enthusiasm on your credit is set. The EMI on your credit is determined relying on the Rate the bank accuses you of and the advance sum you need to take, and the period for which you take the advance. An EMI calculator is always useful.
- It saves you hours of time-consuming and error-prone calculations.
- It uses the most recent gold values in its calculations.
- It encourages you to check out various solutions in order to find the Gold loan that best suits your needs.
- Knowing your loan EMI allows you to change your monthly spending so that you can pay off your gold loan on time.
ICICI Gold Loan EMI Calculator
|Rate||6 months||1 Yr||2 Yrs||3 Yrs|
What types of gold can be used to secure a gold loan?
Gold loans are provided to applicants with a certain value of gold. Physical forms of gold are common and known to all individuals but Digital gold is an unknown entity to most people in India.
Digital gold is purchased electronically and deposited by the trader in insured vaults on behalf of the buyer. It also helps us in overcoming all of the problems associated with actual gold transactions. All you need is Internet/mobile banking to invest in gold digitally at any time and from any place.
- Jewellery made of gold (generally between 18 karats and 24 karats)
- Coins or strips of gold
- Gold in the digital realm (must be exchanged for cash or jewellery first, against which a loan can be secured)
How To Pay Your ICICI Bank Gold Loan EMI?
Your ICICI Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): for current holders of ICICI Bank account.
- Electronic Clearing Service (ECS): for borrowers of the non-ICICI bank.
- Post-Dated Checks (PDC): Post-dated cheques can be posted from a non – ICICI account nearby.
ICICI Gold Loan Contact Number
For any sort of assistance regarding the ICICI gold loan, you can contact us on the number
Use Of ICICI Gold loan
- Faster processing – Gold loans are regarded as secured loans. Therefore, they do not require any problematic acceptability guidelines, terms, and documentation, which presents it as one of the most rapid processing loans.
- Lower interest rate – In comparison with unsecured loans such as personal loans, gold loans are secured loans, need a more reasonable price of interest on the loan amount.
- Multipurpose – The loan value can be used for numerous objectives like financing a holiday, comprising wedding investments, clearing off pharmaceutical bills, etc.
- Business Purpose- You can apply for the ICICI Bank gold loan for all your shopping needs, such as buying raw materials, generating sales, etc.
- Agricultural Purpose- Get a special rate of interest on the gold loans for cultivation persistence.
ICICI Agricultural Jewel Loan Scheme
|Scheme||ICICI Agricultural Jewel Loan Scheme|
|Interest Rate||Starting from 5.88% per annum (depends on the sum of the loan|
|Least amount of Loan||It depends on the value of the jewel which is being kept as security|
|Loan period||Adjustment of advance sum inside 2 months from the date of reap of yields|
Benefits Of ICICI Bank Agricultural Jewel Loan Scheme
- ICICI charges a processing fee of up to ₹ 500.
- Minimum of ₹ 300 charge, which is 0.30% of the loan amount, applies to the amount ranging from above ₹ 20,000 – less than ₹ 20 lakh.
- 0.28% of the credit sum, subject to at least Rs.1,500, applies to the amount more than Rs.5 lakh however under Rs.1 crore.
ICICI Bank Gold Loan Overdraft Scheme
An overdraft is usually issued on a temporary cash basis. The fee is not payable as for a standard loan and has both options, secured and unsecured ODs depending on your preferences and eligibility. One of these banks provides a place for the overuse of ICICI Bank. The Overdraft Center at ICICI Bank is simple and easy to understand. An overdraft may be allowed up to a maximum amount of Rs. 15 lakh.
ICICI Gold Loan Highlights
|Age||18 – 65 years|
|Minimum Loan Amount||Rs. 10,000|
|Maximum Loan Amount||Up to Rs. 1 Crore|
|ICICI Bank Gold Loan Interest Rate||7.00% p.a. onwards|
|Loan Tenure||From 3 months to 10 years.|
|Gold Items accepted||Jewellery and gold coins sold by banks|
|ICICI Bank Gold Loan Processing Charges||0.85% of the loan amount|
How Does ICICI Gold Loan Work?
The suitability of the gold loan is determined based on the purity of gold, LTV, and its weight. Suppose Mr A and his two friends Mr B and Mr C, have different gold values for different purity. Mr A has 50 grams of gold per 22-carat purity. Mr B has 60 grams of gold in 20 carats of purity, and Mr C has 70 grams of gold in purity or 22 carats. They approached the ICICI Bank to get a gold loan. The price used to calculate the suitability of their gold loan according to the high 85% LTV will vary with the purity of the gold and therefore, will lead to the validity of the gold loan.
FAQs About ICICI Gold Loan
What is ICICI Gold Loan?
ICICI Gold Loan is a borrowing option available to all individuals who own any form of gold jewellery and are in urgent need of cash. The Gold Loan is a multi-purpose loan and can be used for any sort of financial constraints like medical expenses, weddings, etc.
How Can I Get Gold Loan From ICICI Bank?
You can get a gold loan from ICICI Bank with the following few clicks:
- Fill in your necessary details in the form available on our fb page.
- Our trained relationship manager will get back to you within 30 minutes.
- We will suggest you the Loan which meets your requirements in your specific region.
- Visit the nearest assigned branch.
- Get the loan amount in just 30 minutes.
How much Gold Loan Can I get per gram from ICICI Bank?
ICICI Rate Per Gram Gold Loan is Rs. ₹ 2,900 to ₹ 3,450. It varies according to the quality of your gold.
How Does ICICI Gold Loan work?
The ICICI Gold loan works as a simple borrowing service available for any individual who requires urgent cash and has gold ornaments available for collateral security. On pledging the gold with the bank, the borrower can avail up to 75% of the LTV of the gold which can be repaid later in the form of EMIs.
What is the Gold Loan interest rate in ICICI Bank?
The ICICI Gold Loan Interest Rate is 5.88% per annum per annum.
How to check gold loan status in ICICI Bank?
To check your Gold Loan status in ICICI Bank online, just visit the Bank’s online portal and fill up a simple form with your Gold Loan application details.
How to calculate gold loan interest in ICICI?
To calculate the ICICI gold loan rate of interest just subtract the principal amount from the total loan amount to be paid by the borrower.
What is the maximum gold loan amount I can avail myself of on a gold loan from ICICI Bank?
The maximum gold loan amount that can be availed on a gold loan from ICICI Bank is up to 75% of the gold jewellery’s value kept as collateral.
What is the loan tenure of the ICICI Bank gold loan?
The loan tenure of the ICICI Bank gold loan is up to 10 years. But you will be required to renew your loan after 1 year.
How much is the processing fee applicable on the ICICI Bank Gold loan?
A processing fee of up to 1% + GST is applicable on an ICICI Bank gold loan.
What are the charges for renewal in the ICICI Bank gold loan?
The charges for renewal in the ICICI Bank gold loan ranges from Rs 250 – Rs 500.
What are the charges for pre-payment in the ICICI gold loan?
The charges for prepayment of the ICICI gold loan are up to 1% of the outstanding loan amount.
How to renew ICICI Gold Loan online?
To renew your ICICI Gold loan online, simply login to your i-mobile app account and renew your gold loan under the Gold Loan section by entering the loan account details.
How to pay ICICI Gold loan interest online?
You can pay the ICICI Gold loan interest online using online payment options available or can simply visit their online portal and make your loan payments through net banking, debit cards, or through the i-mobile app.
What if I can’t pay the interest on the ICICI Gold loan for 3 months?
If you can’t pay the interest on the ICICI Gold loan for 3 months, ICICI will charge you with penal interest. If there are continuous defaults, the Bank will at first remind you of your pending dues or send a legal notice if repayment requests go unheard. Defaulting on your Gold Loan not only results in a decrease in your credit score but also makes you liable to face legal actions by the Bank, including confiscation and auction of your Gold.
How can I apply for an EMI moratorium on an ICICI Gold loan?
You can ask for an EMI Moratorium on the ICICI Gold loan online by logging in with your credentials or can also go to the bank individually. You require to present the moratorium offers at least five functioning days ere your EMI return’s scheduled date.
How to pay an ICICI Gold loan through a credit card?
You will not be able to pay the ICICI Gold loan through credit cards as per RBI Guidelines. You can use various other modes like mobile banking, debit cards, cheques, demand drafts for loan repayment.
What is the ICICI Gold Loan customer care number?
For contacting the ICICI Gold loan customer care, just dial Customer service.
What is the ICICI Gold Loan closure procedure?
- Just go to the bank with the documents.
- Write a letter for pre-closure of the ICICI Gold loan account.
- Pay the pre-closure charges as per Gold Loan.
What is the ICICI Gold Loan preclosure charge?
Up to 2% preclosure charge before 3 months, after that 1%.
What is the ICICI Bank Gold Loan overdraft scheme?
An overdraft is usually issued on a temporary cash basis. The fee is not payable as for a standard loan and has both options, secured and unsecured ODs depending on your preferences and eligibility. One of these banks provides a place for the overuse of ICICI bank. The Overdraft Center at ICICI Bank is simple and easy to understand. An overdraft may be allowed up to a maximum amount of Rs. 15 lakh.
What is the ICICI Gold Loan maximum tenure?
The maximum tenure of the ICICI Gold loan is 10 years.
What is the minimum ICICI gold loan tenure?
The minimum ICICI gold loan tenure is 3 months
What is the ICICI gold loan per gram rate?
ICICI Bank Gold Loan Per Gram is Rs. ₹ 2,900 to ₹ 3,450.
Is the ICICI gold loan calculator useful?
The ICICI gold loan calculator can be used by one to easily check all the important details without having to leave one’s house.
✅ What is the ICICI gold loan processing fee?
ICICI Gold Loan processing fee is 1% + GST
✅ What is the ICICI gold loan EMI calculator?
The ICICI gold loan EMI calculator has a list of the months and the amounts to be paid by the borrower every month for an individual’s convenience.
✅ What are the foreclosure charges of the ICICI Gold Loan?
ICICI charges a borrower up to .50% on the principal amount in case of a Gold Loan Foreclosure.