Federal Bank Gold Loan Scheme

Maximise your gold's value with Federal Bank Gold Loan Scheme

✓ No Limit on Loan Amounts ✓ Interest Rate Starting @0.74% p.m. ✓ Minimal Documentation Apply Now

In recent times, gold financing has gained immense popularity, with the gold loan market estimated to reach Rs.6,275.40 billion by 2025. This massive growth is attributed to the quick processing time, no end-use restriction, easy eligibility and documentation process of these loans.

Thus, if you are going through financial headwinds currently and are looking for funding options, you may consider approaching the Federal Bank for a gold loan. Federal Bank Gold Loan brings in various benefits for prospective borrowers, including a substantial loan corpus. Further, you can use the loan amount for personal, professional or agricultural purposes.

Keep reading to find more details on gold loans offered by the Federal Bank.

Key Highlights of Federal Bank Gold Loan

While opting for a Federal Bank Gold Loan, it is crucial that you look at the key highlights of gold financing offered by the bank. Find more about it in the below table:

Maximum loan amount	Rs.1.5 Crores
Processing fee	Varies depending on the type of loan
Loan tenure	Starting from 6 months
Gold loan rate per gram	General gold loans – up to 75% of the gold’s value Agri gold loans – up to 90% of the gold’s value Non-Agri gold loans – up to75% of the gold’s value MSME gold loans – 75% of the gold’s value
Interest rate	Starting from 8.64%
Schemes available	DIGI Gold Loan, general gold loan and Kisan Gold Loan

Please note that these rates are subject to changes, and you should always have a word with the lender clearly before opting for a loan.

Features and Benefits of Federal Bank Gold Loan

A Federal Bank Gold Loan brings in various features and benefits. Find about them below

Quick processing

Federal Bank processes your loan application quickly so that you do not have to worry about your emergency fund requirements. Simply meet the eligibility parameters and submit necessary documents for hassle-free loan processing

High LTV

For general gold loans, the bank offers an LTV of 75%, whereas for Agri loans the same is set at 90%. As a result, you can obtain a high loan corpus at competitive interest rates.

No hidden charges

Federal Bank offers gold loans with 100% transparent terms and conditions. Thus, you do not have to pay any hidden charges. Apart from that, Federal Bank Gold Loan interest rates are also competitive, which brings down the total cost of borrowing.

Multiple repayment options

With Federal Bank, you get to repay your loan in multiple ways. You can opt for regular EMIs, or choose to pay the interest as EMI and principal at tenure end. Alternatively, you may choose the bullet repayment scheme or make partial repayments of the interest and principal component.

Minimal paperwork

You can obtain a gold loan from the Federal Bank by submitting just a few essential KYC documents. This makes the loan application process convenient and hassle-free.

Types of Federal Bank Gold Loan Schemes

Federal Bank offers various gold loan schemes to meet the needs of a wide range of borrowers. Find details about the types of Federal Bank Gold Loans below:

General Gold Loan

With a general gold loan, you can obtain a loan amount of up to 75% of the value of your gold items. The interest rate for such loan starts at 8.50% per annum, and might vary depending on the purpose of loan.

Kisan Gold Scheme

Especially curated for farmers, this loan scheme disburses as much as 90% of the market value of gold items. You may obtain a loan corpus of up to Rs. 1.5 Crores at a Federal Bank Kisan Gold Loan interest rate starting from 8.50% per annum.

DIGI Gold Overdraft

With this scheme, you can pledge your items with the bank and withdraw up to 72% of the value of such items whenever you are in need of immediate funds. Note that your gold will be safely stored with the bank throughout the tenure.

Fed Smart Saver Gold Loan

This Federal Bank Gold Loan offers the lowest interest rate among all other schemes, at 9.10% per annum. Furthermore, under this scheme, there is no demand for monthly interest. You can choose bullet repayment and repay the entire corpus at tenure end.

Federal Bank Gold Loan Interest Rate

Find details on Federal Bank Gold Loan interest rate for different schemes in the below table:

General Gold Loan	Starting from 8.50% per annum
Agri Gold Loan	Starting from 8.50% per annum
Fed Smart Saver Gold Loan	Starting from 9.10% per annum
DIGI Gold Overdraft	Starting from 8.50% per annum

Federal Bank Gold Loan Fees charges

Before proceeding with a Federal Bank Gold Loan, you need to understand the associated fees and charges. Find details about it below:

Processing Fee:

DIGI Gold Overdraft	Up to 0.25% of the limit + GST
General Gold Loan	Rs.165 – Rs.250 + GST
Kisan Gold Scheme	Rs.490 – Rs.1,600 + GST

Other charges:

Prepayment charges	NIL
Admin fees	Rs.100 – Rs.1,300
Delayed repayment penalty	Non-Agri loans – 16.50% from the due date Agri loans – 14.50% from the due date
Inspection charges	Up to Rs.25,000 - NIL
Appraiser charges	Up to Rs.25,000 – NIL

Please note that these rates are subject to changes, and you should always have a word with the lender clearly before opting for a loan.

Federal Bank Gold Loan EMI Calculator

One of the most crucial steps before obtaining a Federal Bank Gold Loan is to check the EMIs. This would help in better repayment planning and reduce your overall financial burden. The process to check EMIs can be done conveniently through an online Federal Bank Gold Loan EMI Calculator.

You can find this calculator on the official website of the bank. To calculate, you simply need to enter the loan amount you wish to borrow, the rate of interest and repay tenure. Upon entering these details, the calculator will display your estimated EMIs in seconds.

Federal Bank Gold Loan Eligibility Criteria & Documentation

Gold loans from Federal Bank come with easy eligibility parameters, which makes the application process simple. Additionally, the bank offers financing with minimal documentation. Find details about them below:

1. Eligibility criteria:

Applicants need to be over the age of 18 years

The ornaments to be pledged must be of 22 carats

2. Documents for new customers:

Identity proof (Aadhaar card, Passport, Voter ID Card)
Passport size photograph
Address proof or utility bills

Note that the bank may ask you for additional documents if needed.

How to Apply for a Federal Bank Gold Loan

You can apply for a gold loan from Federal Bank through an easy online application process. Simply follow these steps:

Step 1: Visit the official Federal Bank website and go to the ‘Gold Loan’ page.
Step 2: Click on ‘Apply Online’.
Step 3: Fill in the application form with a few basic details and submit your application.

Upon following these steps, a bank representative will get in touch with you regarding further steps and documentation process.

How to Repay Federal Bank Gold Loan

One of the many benefits of obtaining a Federal Bank Gold Loan is that you get the benefit of multiple repayment options. You can choose to repay your loan through any of the following ways:

Pay interest as EMIs and principal at the end of tenure
Opt for bullet repayment scheme
Choose to pay the interest and principal component at your convenience
Opt for regular EMIs

Before proceeding, remember to consider factoring in your monthly income before choosing any one of the above-mentioned methods.

Federal Bank Gold Loan Interest Rate Comparison

Before you make a borrowing decision, you must assess the interest rates offered by different banks and financial institutions. This will help you draw a clear comparison between the best loan offers available in the market:

Name of the Bank/NBFC	Max. loan amount	Interest rate
ICICI Bank	Rs.1 Crore	Starting from 11%
Axis Bank	Rs.25 Lakhs	Starting from 13.5%
State Bank of India	Rs.50 Lakhs	Starting from 7.3%
Punjab National Bank	Rs.10 Lakhs	Starting from 8.75%
Bajaj Finserv	Rs.2 Crores	Starting from 9.5%
HDFC Bank	Rs.1 Crore	Starting from 6.5%
Indian Bank	Rs.10 Lakhs	Starting from 8.25%
Canara Bank	Rs.35 Lakhs	Starting from 7.25%
IndusInd Bank	Rs.20 Lakhs	Starting from 8.75%
Bank of Baroda	Rs.50 Lakhs	Starting from 7.75%

For better decision making, consider visiting a diversified marketplace like Bajaj Markets. This platform displays gold loans offered by leading banks and financial institutions of the country. You can look through the different types of gold loans on this platform and choose the one that best suits your requirements.

Additionally, consider checking the terms and conditions of the loan before proceeding with the Federal Bank Gold Loan application. This will help you make an informed borrowing decision.

DISCLAIMER

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

Gold Rate in Indian States

Gold Rate in Popular Cities

You can reach out to Federal Bank customer care by dialling +91 484 2630994.

The maximum gold loan that Federal Bank offers is Rs.1.5 Crore. However, the corpus you can avail would depend on the purity of gold items, their weight and the loan LTV.

Yes, if you make partial loan repayments, you might retain jewellery amounting to the same sum from the lender.

The minimum loan amount for gold loans from Federal Bank is Rs.1000.