How to Apply for IDFC FIRST Bank Gold Loan
Your gold jewellery can now help you meet your financial needs easily and securely with the IDFC FIRST Bank Gold Loan. This offering provides a convenient way to unlock the value of your gold jewellery and get access to quick funds for education, medical expenses, home renovation, business expansion, or personal use — all with minimal documentation and fast approval.
Key Features:
- Competitive and fixed interest rates starting from 0.80% per month
- No income documents required
- 100% digital and paperless process through eKYC, e-Signature, and e-Mandate
- World-class vaults for safe storage of your gold
- Hassle-free onboarding with quick disbursal
- Flexible repayment options
Purpose:
IDFC FIRST Bank Gold Loan can be availed to meet urgent financial needs like education, business expenses, medical emergencies, home renovation, or any other legitimate purpose. The loan amount depends on the value and purity of the pledged gold.
Eligibility:
- All resident Indians (salaried, self-employed, homemakers, students, etc.) aged between 18 and 70 years
Collateral Eligibility:
- Acceptable: Gold jewellery of purity between 18 to 22 karats, bank-issued gold coins up to 50 grams per customer
- Not acceptable: Gold below 18 karats, bullion, bars, watches, utensils, white gold, or non-ornamental gold
Documentation Required:
- eKYC / Valid KYC
- PAN Card or Form 60
- One Official Valid Document (any one of the following):
a. Valid Passport
b. Aadhaar Card
c. Voter ID
d. Driving License
e. NREGA Job Card
f. National Population Register document
- Net Banking or Debit Card details for setting up e-Mandate (for express disbursal)
Interest Rates:
- ROI starting from 9.84% p.a. (subject to market conditions)
Fees & Charges:
- Processing Fee: Up to 1% of loan amount + GST
- Gold Valuation Charges: ₹199 – ₹4,999 per case
- Stamp Duty: As per state norms
- Bounce Charges: 10% of EMI (min ₹200, max ₹750)
- Foreclosure Charges: Up to 2% if closed within 365 days
- Part Payayment Charges: Up to 2% of amount if paid within 365 days
- Late Payment: 2% per month or ₹300, whichever is higher
- Auction Charges: ₹375 for notice, plus actual publication costs
How to Apply:
- Visit the nearest IDFC FIRST Bank Gold Loan branch with your gold jewellery
- Complete eKYC and verification through digital onboarding
- Set up e-Mandate using your Net Banking or Debit Card
- Get your loan disbursed instantly after valuation
Disclaimer:
Interest rates, fees, and charges are subject to change as per IDFC FIRST Bank policies. Final approval, rate of interest, and loan amount depend on the bank’s internal assessment. Please visit the official IDFC FIRST Bank website or contact your nearest branch for updated details. *Terms and Conditions apply.
