Kotak Mahindra Bank Gold Loan Scheme

This can be easily done through an online Kotak Mahindra Bank Gold Loan EMI Calculator. This online tool is easily available and is free to use. To access this calculator, you simply need to enter the loan amount you wish to borrow, the tenure and interest rate. On entering these details, the calculator will display the estimated EMI within seconds. 

Furthermore, this online tool also displays the loan amortisation schedule, which comprises the interest and principal component. Getting access to this will help you make informed decisions regarding loan foreclosure and balance transfer.

• You need to be an Indian citizen aged between 18 and 75 years.

• If you are older than 70 years, you will have to apply for a Kotak Mahindra Bank Gold Loan with a co-borrower.

• The gold ornament you plan to keep as collateral should be between 18 carats and 22 carats.

• If you plan to keep bank minted coins, the bank accepts such coins weighing up to 50 grams and 24 carats only.

Note that meeting the above-mentioned eligibility parameters will help in quick loan application approval. 

Besides the eligibility, you also need to submit a few essential documents to complete the application process. Find details about them below:

1. For existing customers:

• Latest address proof and signature proof

• PAN card, if annual income of the borrower is more than Rs.5 Lakhs

2. For new customers:

• KYC documents (identity proof, address proof, signature proof)

• Two passport size photographs

• PAN, if the annual income of the borrower is more than Rs.5 Lakhs

Additionally, you need to submit ITR if you are seeking a Kotak gold loan of more than Rs.25 Lakhs. The bank may ask you for additional documents if needed.

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