Axis Bank Gold Loan & Schemes

Axis Bank Gold Scheme

✓ Gold Loan up to 2 Cr ✓ Interest Rate Starting @ 10% ✓ Highest Gold Loan / Gram

Customers can purchase gold and take out a gold loan through Axis Bank's gold programmes. Customers can purchase Silver & Gold Mohurs through every Axis Bank location over the counter. The purchase is secure, and the metal's quality is guaranteed. Customers can now use their gold jewellery as security for loans with advantageous terms from Axis Bank. Part payments and foreclosure are not charged extra by the bank. Axis Bank now offers two gold and silver mohur purchasing schemes, as well as a loan against gold scheme.

Axis Bank Gold Loan Details

By pledging your gold jewellery or gold coins as security, you can get an Axis Bank gold loan to address an urgent monetary demand. Existing Axis Bank customers as well as new borrowers can apply for a gold loan, which is one of the fastest ways to borrow money. You can get a gold loan from Axis Bank not only quickly but also at a low interest rate of 12.50 percent.

 

  • Loan Purpose - The gold loan amount can be utilised to address immediate financial necessities such as higher education, marriage, medical emergencies, or other pressing financial obligations.

  • Quantum of Loan – Axis Bank gold loan amounts range from a minimum of Rs. 25,001 to a maximum of Rs. 25 Lakh.

  • Repaying Period - The repaying period begins at three months and can last up to 36 months.

  • Axis Bank Gold Loan Interest Rates - The interest rate on Axis Bank gold loans starts at 12.50 percent per annum. The MCLR is used to determine Axis Bank gold lending rates.

  • Axis Bank gold loan per gramme rate - The rate for an Axis Bank gold loan per gramme will be provided during the moment of applying.

  • Gold rates - Gold ornaments and coins will be used as security for a gold loan. The gold goods that have been pledged are maintained in a safe and secure area.

Features and Benefits of the Axis Bank Gold Scheme

  • Axis Bank Gold Loan Features

  1. The loan amount ranges from Rs. 25001 to Rs. 20 lakhs, with a repayment period of 6 to 36 months.

  2. Once the required KYC documents have been authorised and validated, you will receive an immediate release of the loan amount.

  3. A co-applicant is not required for the loan application.

  4. Only if you have made regular payments can you foreclose the loan with no additional fees.

  5. There are no fees for paying in instalments. You can make a partial payment of at least Rs. 10,000 and up to three payments. Furthermore, there are no fees associated with it.

  • Axis Bank Gold Loan Benefits

  1. Once the gold loan has been disbursed, all Axis Bank account holders who have opted for the Gold Mohour plan will receive an instant 150 eDGE loyalty point bonus.

  2. Simple interest is used to compute the interest rate. The loan is paid back in EMIs, and the interest is calculated using the simple interest technique.

  3. You have two options for repaying the loan: pay the interest upfront and the balance as principal on the maturity date, or pay the interest in monthly instalments and the balance as principal on the maturity day.

Axis Bank Gold Loan – Other Fees and Charges

Axis Bank Gold Loan – Interest Rate & Features – 2021
Age 18-75 years
Minimum Loan Amount Rs. 25,001
Maximum Loan Amount Rs. 25 Lakhs
Axis Bank Gold Loan Interest Rate 12.50% p.a. onwards
Loan Tenure From 3 months up to 3 years
Gold Items accepted Jewellery and gold coins sold by banks
Axis Bank Gold Loan Processing Charges 1% of the loan amount

Axis Bank Gold Loan – Eligibility & Documentation

  • It is required to provide your PAN data if you want to buy a Gold Mohur worth Rs.50000 or more.

  • You must be an existing Axis Bank customer with either a savings or current account.

  • The daily adjustments and fluctuations in the gold market rate determine the price of a Gold Mohur.

To complete the loan, you must supply the following documents:

 

  • Completed and signed application form

  • 2 photos the size of a passport

  • Identification is required

  • Age Validation

  • Address proof is required

  • Proof of signature

  • Form 60 or a PAN card

  • If necessary, attach disbursement documents

How do I apply for a gold loan from Axis Bank?

Visit your local Axis Bank location to apply for a gold loan. Meet the branch officer who will assist you with the procedure. After that, have your gold item evaluated to determine the value of your gold loan.

 

You can expect a speedy disbursement of the loan money once the documents have been validated.

Gold Mohurs Scheme

Gold has shown to be a sound investment that never goes out of style and only increases in value over time. Gold has always been a sought-after metal due to its allure, beauty, malleability, and long-lasting qualities. Gold has also been considered fortunate, and it has been utilised in large quantities during big festivals and special events. Gold investment does not require monitoring or maintenance, making it excellent for people looking for a straightforward investment.

Features of Gold Mohurs

  1. You can buy Gold Mohurs from any of the 1400 Axis Bank locations across India as a buyer.

  2. The purity of the gold is guaranteed, as is the country of manufacture - Switzerland.

  3. The gold is 99.99 percent pure and comes in tamper-proof packaging with a 24 karat grade and Assay certification.

  4. Mohurs are available in the following weights: 2|5|8|10|20|50|100 grammes.

  5. On the 5 gramme Gold Mohur, Goddess Laxmi is engraved.

Benefits of Gold Mohurs

  1. Because there are no maintenance costs associated with Gold Mohurs, the danger of losing money on your investment is minimal.

  2. You do not need to keep track of your investment or restructure it.

  3. You have the choice of liquid assets in the event of an emergency.

  4. Because it is a one-time payment, the value of this method increases over time.

Gold Mohurs: Important Information

  1. The buyer must provide PAN card data in order to acquire Gold Mohurs of Rs.50,000 or more.

  2. Applicants must be current Axis Bank clients to acquire Gold Mohurs. They can submit an application, and the transaction will be completed by debiting the customer's bank account.

  3. The price of Gold Mohur is not set in stone. It is set by gold market rates on a daily basis.

  4. Axis Bank is unable to repurchase the Gold Mohur. The Reserve Bank of India forbids banks from buying back gold bars and coins.

Silver Mohurs

On critical occasions, silver has been utilised as a good luck charm. A new job, a promotion, marriages and anniversaries, buying a house or a car, the birth of a child, birthdays, graduations, Valentine's Day, and other occasions are all regarded as auspicious occasions for silver.

Silver Mohurs' Characteristics

  1. Axis Bank sells Silver Mohurs that are imported from Switzerland.

  2. With Assay certification, the silver is 99.99 percent pure and 24 karat.

  3. The Silver Mohurs are packaged in special tamper-proof packaging.

  4. The Mohurs have a Banyan tree design on them.

Silver Mohurs' Advantages

  1. Silver is seen as a good luck charm rather than an investment.

  2. Silver is an excellent gift that anyone would appreciate receiving on a special occasion.

  3. The Silver Mohurs can be readily purchased by debiting the price from an existing Axis Bank account at any Axis Bank branch.

Silver Mohurs: Important Information

  1. The buyer must provide PAN card data in order to purchase Silver Mohurs worth Rs.50,000 or more.

  2. Applicants must be current Axis Bank clients to acquire Silver Mohurs. They can submit an application, and the transaction will be completed by debiting the customer's bank account.

  3. Silver Mohurs do not have a set price. The daily worldwide silver market rates govern it.

  4. Axis Bank is unable to repurchase the Silver Mohur. The Reserve Bank of India forbids banks from buying back silver or gold.

Frequently Asked Questions on Axis Bank Gold Scheme

  • ✔️Is it possible to get a loan on gold coins from Axis Bank?

    Axis Bank does not offer loans secured by gold coins.

  • ✔️What is the meaning of a Gold Mohur?

    Axis Bank's official gold scheme, Gold Mohur, is available only to Axis Bank customers. There are two types of Gold Mohurs: one for purchasing gold and the other for taking out loans.

  • ✔️Is a PAN required to purchase a Gold Mohur?

    No, the PAN is only necessary if you acquire a Gold Mohur valued at Rs. 50000 or more.

  • ✔️What is the smallest partial payment that a Gold Mohur Scheme will accept?

    You can make a minimum partial payment of Rs. 10000 and a maximum of three instalments.

  • ✔️What are eDGE loyalty points, and how can I get them?

    Axis Bank account holders can earn eDGE Loyalty points, which are reward points that are only available to those who have an Axis Bank account. Once the gold loan has been disbursed, all Axis Bank account holders who have opted for the Gold Mohour plan will receive an instant 150 eDGE loyalty point bonus.

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