ICICI Gold Loan & Schemes

ICICI Bank Gold Scheme

Earn interest up to 7.35% p.a. by investing in a Bajaj Finance Fixed Deposit | Stable Rating - CRISIL’s FAAA & ICRA’s MAAA

In the past few decades, numerous investment avenues have gained and lost popularity. Gold, however, has remained one of the most reliable investment instruments and has continued to attract the attention of investors globally. Even today, gold is considered among the best investments for both existing investors as well as first-time investors.

 

The appeal for gold lies in the fact that it is a limited resource, which ensures that its value will never diminish beyond a certain point. Owing to this fact, gold is also quite expensive to purchase for many investors. However, this need no longer be a concern, thanks to the ICICI Bank gold investment scheme. 

Know More About ICICI Gold Schemes

ICICI Bank has been a pioneer for the Indian banking sector and its innovative spirit continues to shine brightly, which is evident through the gold loans and investment schemes offered by the bank. ICICI Bank is offering a range of plans and schemes for those who wish to purchase gold and begin building their investment portfolio. These include ICICI Dream Gold Plan, ICICI Bank Gold Monetisation Scheme, as well as ICICI Bank Gold Loans. 

 

Read on to learn more about all three plans, and assess which works best for you in terms of growing your investment portfolio. 

ICICI Dream Gold Plan

The Dream Gold Plan offered by ICICI Bank is great for investors who are unable to save enough to purchase the precious metal. While opting for the plan, you can choose between the options for fixed deposit or recurring deposit. Regardless of which one you opt for, you can easily start to deposit funds which can then be used for purchasing gold over a period of time. 

 

By creating this account, you are essentially setting aside or deliberately saving funds which will exclusively be used for buying gold. While opting for a fixed deposit, you can earmark the funds you require to purchase the gold whereas by opting for a recurring deposit, you can build up your funds over a period of time.

ICICI Dream Gold Plan Features

Several features of the ICICI Dream Gold Plan make it ideal for different kinds of investors. Read on to learn more about the features of this ICICI gold investment scheme. 

 

  • There is no tax deducted at source (TDS) applicable on the interests from this deposit, even if you opt for recurring deposits.

  • You can opt for auto-renewal upon maturity of these deposit accounts.

  • You are required to deposit a fixed amount within a fixed tenure of a minimum of 6 months. While the amount and tenure can vary, this feature is a great help for those looking for forced savings.

  • Upto 90% of the deposit can also be availed as a loan by the investor.

  • At the end of the tenure period for the deposit, investors are assured of receiving attractive returns. 

  • Premature withdrawals are available for investors, however, these will be subject to certain penalties being levied.

  • The range of freedom available to investors lets you choose between a fixed or recurring deposit, both of which enable you to earn attractive interest depending on the prevailing rates of the time.

ICICI Dream Gold Plan Benefits

The benefits offered by this ICICI Bank gold investment scheme ensure that you are able to achieve your investment objectives successfully. Read on to learn more. 

 

  1. Investors benefit from this scheme by availing forced savings, which can further be used to purchase gold, and result in enormous savings and returns over a period of time.

  2. If investors use the amount generated from this deposit to purchase gold coins from the bank within a period of 3 months from the date of maturity of the deposit; they can even benefit from a 30% discount on the price of gold.

ICICI Bank Gold Monetisation Scheme

One of the biggest complaints by investors buying gold is their inability to earn more from the quantity of the metal they already own. ICICI Bank has sought to make this complaint redundant by launching its gold monetisation scheme, which lets investors earn profits from the gold they already own. 

 

Through this scheme, investors can opt to deposit their gold with the bank and earn interest on them. This gold deposited by investors can be in the form of jewellery, bars, coins, etc. It’s a great route for existing investors to earn higher returns on their existing investments.

ICICI Bank Gold Monetisation Features

Some features of the ICICI Bank Gold Monetisation scheme make it a very promising avenue for investors. Read on to learn more about these features.

 

  1. Gold can be deposited in any form, regardless of whether investors have kept coins or bars or chosen to make ornaments out of them. The gold will be measured by the bank in grams with 995 purity for a specified period of time. Interest receivable by investors will be on the basis of rates decided by the Indian government and RBI.

  2. The scheme is open for existing account holders of ICICI Bank, and requires them to deposit a minimum of 30 grams of gold over a minimum period of 3 years.

  3. The deposit can be made for a period of up to 15 years, and premature withdrawal could result in penalties being levied; thus ensuring necessary forced savings.

  4. Depositors earn interest, which are paid out annually, as per the rate of gold at the time of the deposit being made.

  5. Deposits under the scheme are available in three types, namely, short-term, medium-term, and long-term. The different tenures available enable investors to choose the one that works best for them. 

ICICI Bank Gold Monetisation Scheme Benefits

The benefits of the ICICI Bank gold monetisation scheme ensure that investors are able to conveniently and consistently earn interest on their existing investments. Read on to learn what these benefits are.

 

  1. The scheme helps investors keep their gold not only secure, but also enables them to earn from it.

  2. The scheme also offers investors tax-free earning since no taxes are imposed on the income or capital gains payable even if the gold’s price appreciates during the deposit’s tenure.

ICICI Bank Gold Loans

The ICICI Bank Gold Loan scheme enables the bank’s customers to avail loans against the amount of gold they are holding in the bank. For these loans, the gold serves as security that the bank holds to ensure that customers repay their loan. 

ICICI Bank Gold Loan Features

The ICICI Bank Gold Loan interest rates ensure that customers can avail affordable gold loans. Other features of the ICICI Gold Loan, which make it especially appealing to customers, have been listed below.

 

  1.  The offer to avail a loan against gold can be availed by ICICI Bank customers at any branch of the bank.

  2. Customers can avail loans ranging from Rs. 10,000 to Rs. 10 Lakhs, as per the amount of gold they have, and upon submission of relevant documents.

ICICI Bank Gold Loan Benefits

There are several benefits on offer for those who wish to avail the ICICI Gold Loan scheme. Availing a loan is always beneficial in itself, since it empowers you to meet unexpected financial emergencies or even fulfill lifelong goals and aspirations. Loans are also a great way to either repay existing loans, or pay for a college education or even a wedding. You could also avail a loan to take your family on a long-awaited vacation to an exotic locale. Thus, for those wishing to avail a large loan, the ICICI Bank Gold Loan offers several benefits as listed below.

 

  1. It is an extremely easy and convenient process to get a loan with the ICICI Bank Gold Loan scheme.

  2. The loan tenures are available with a short repayment tenure, of up to 12 months, which ensures that the customer doesn’t build up debt.

  3. The loan also ensures the safety of your gold and you can waive off the locker charges that you would otherwise have incurred to get a locker for safekeeping of your loan.

Other Gold Investments by ICICI Bank

As mentioned earlier, ICICI Bank has been a pioneer for those wishing to trade in gold. Investors have long made fortunes by investing in gold, which has proved its mettle as a reliable investment instrument. 

 

To cater to investors, ICICI Bank has long been offering avenues for existing and new investors to purchase gold. These ICICI Bank gold investment schemes include ICICI Sovereign Gold Bonds and investors can also purchase just Pure Gold. Read on to learn more about how you can go about investing in gold with ICICI Bank. 

ICICI Pure Gold

For any gold trader, the quality and certification of the gold he/she purchases is of the utmost importance. Thus, to alleviate these concerns, ICICI offers Pure Gold, which is Assay-certified and thus, assured. Gold can be purchased for any amount, and the bank offers 24 carat gold in different denominations in order to cater to these differing budgets and requirements of customers. 

ICICI Bank Gold Features

The features of ICICI Bank Gold make it a very safe and excellent option for investors to invest in gold. Read on to learn more about these features. 

 

  1. Gold can be purchased at several branches of ICICI Bank across the country, and customers can approach these branches to get the gold along with their assurance certifications. 

  2. The gold is available in different denominations, and customers can purchase as little as 0.5 grams of gold or 1 gram, 2.5 grams, 5 grams, 10 gram, 20 gram, and up to 100 grams. ICICI Bank caters to all segments of the population, by being able to match the customers’ differing budgets.

ICICI Bank Gold Benefits

Read on to learn the benefits of buying gold through ICICI Bank.

 

  1. Gold is sold within tamper proof packs, which enables customers to preserve it for a long period without any fear of losing it.

  2. The price of the gold for its different denominations is competitive, and the cost includes the cost of importing the gold, along with any and all taxes and duties associated with the gold’s sale.

ICICI Sovereign Gold Bonds

The ICICI Sovereign Gold Bond scheme is authorised by the government of India, who is the primary issuer of sovereign gold bonds. The government, from time to time, issues these securities which act as a substitute to physical gold and are linked to the metal’s prices. ICICI Bank, among other banks, post offices, and agents, is authorised to issue these securities. 

ICICI Sovereign Gold Bonds Features

The features available with the ICICI Sovereign Gold Bonds make them stand out as an exemplary investment option for both existing and new traders. Read on to learn more.

 

  1. A minimum tenor of 8 years is applicable with these gold bonds. However, buyout options are offered to investors during the 5th, 6th as well as 7th year.

  2. A sovereign guarantee is provided with these bonds on the capital amount as well as the interest earned.

ICICI Sovereign Gold Bonds Benefits

Read on to learn the benefits you avail by investing in sovereign gold bonds through ICICI Bank.

 

  1. Investors can also opt for an early exit and choose to trade these bonds on stock exchanges. 

  2. The guarantee issued by the government and the assured returns make these bonds an extremely secure investment.

  3. While applying for a loan, these bonds can also be used as collateral by investors.

Frequently Asked Questions on ICICI Bank Gold Scheme

  • ✔️Does ICICI Bank offer gold schemes apart from sovereign gold bonds?

    In total, ICICI Bank offers five gold schemes, which includes the ICICI Bank Dream Gold Plan, ICICI Bank Pure Gold, ICICI Bank Gold Monetisation Scheme, ICICI Bank Gold Loans, and ICICI Sovereign Gold Bond.        

  • ✔️What is the tenor for the sovereign gold bonds purchased from ICICI Bank?

    Sovereign gold bonds are issued by ICICI Bank for a tenor of 8 years.

  • ✔️What is the maximum loan amount available under the ICICI Bank Pure Gold Scheme?

    Upto 90% of the total amount of the deposit is available as a loan under the ICICI Bank Pure Gold Scheme.

  • ✔️What is the maximum loan amount available under the ICICI Bank Gold Loan Scheme?

    A loan ranging in amount from Rs. 1,000 to Rs. 15 Lakhs can be availed under the ICICI Bank Gold Loan scheme.

  • ✔️What is the highest tenor for deposits under the ICICI Bank Gold Monetisation Scheme?

    Under the ICICI Bank Gold Monetisation Scheme, the maximum tenor for deposits is 15 years.

Happy Customers of Finserv MARKETS

Getting a Bajaj Finserv Personal loan to take care of my wedding and relieving my parents to enjoy the occasion was the best decision I ever made. Easy-to-apply, amazing interest rate and quick disbursal, what more can one ask for!

I am passionate about the vehicle I drive. I want to protect it with the best available option. What amazed me was the full transparency, quick quotes and the attractive discount on Bajaj Allianz Car Insurance premium while choosing the annual payment option!

Check your personal loan eligibility in seconds!

My husband and I will finally move into our own house this Diwali. All thanks to Bajaj Finserv MARKETS, with competitive interest rates, minimal processing fees and easy to repay EMIs, our dream saw the light of reality in no time!

Get the best FD interest rates starting @ 8.40%. Let's start!

Kids grow up fast and to fulfil their dream trip to Disneyland I had everything but instant funds. With no collateral or guarantor required and a hassle-free processing with a Bajaj Finserv personal loan, I gifted my family a memorable trip to Orlando with just a click!

Get sum insured up to 1 Crore! Let's start!

The best way to start looking for Bajaj Allianz Health Insurance is to do a close study of the coverage needs and checking the insurance company's claim ratio. No unnecessary jargons, easy to apply claims process and choice of premia!

Zero additional charge on part-payment option on Business loans! Let's start!

I bought my first iPhone using my Bajaj Finserv EMI Card. Zero down payment with a No cost EMI on Bajaj Finserv EMI store just made my day!

Get home loan sanctioned online in 72 hours! Let's start!