ICICI Bank Gold Loan Interest Rates 2016 – EMI Calculate Online

ICICI Bank Loan Against Gold: Get Details on Loan Against Gold Interest Rates, Documents, Eligibility and Loan Amount of ICICI Bank. Calculate EMI per month with calculator.

Main Features of ICICI Bank – Jiyo Khulke!

Discover what it’s like to Jiyo Khulke with ICICI Bank Gold Loan – a smart choice to fulfill your financial needs:

  • Education for children
  • Business expansion or working capital requirement
  • Down payment for purchase of property or vehicle
  • Agricultural need
  • Medical emergency
  • Holiday with your family

Apply Gold Loan

Full Name:
City:
Mobile:
+91
Annual Income:

Age:
Other City:
Email ID :
Loan Amount:

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Eligibility criteria

  • The applicant should be between 18 and 70 years.
  • Gold ornaments should be of 18 carat purity and above.
  • Gold coins should be issued by banks or government institution.

Ineligible

  • Pawn brokers.
  • HUF, sole-proprietorship concerns, partnership firms, corporates and co-operatives.
  • Bullion items like gold bars and biscuits, etc.
  • Gold coin issued by Jewellers, NBFC, etc.
Variant of Gold Loan

Jewel Loan

  • Facility against Gold ornaments and Coins with single tranche disbursement
  • Facility amount ranging from Rs. 10,000 to Rs. 15,00,000
  • Repayment can be on or before maturity
  • Part payment facility is available
  • Payment can be done at any branch of ICICI bank across India
  • Simple interest on amount utilised and for no of days amount utilised
  • Interest payable at the end of the tenure or closure of the facility, whichever is earlier

Gold Overdraft Account

  • Facility against Gold ornaments and Coins with multiple deposit and withdrawal
  • Facility amount ranging from Rs. 50,000 to Rs. 15,00,000
  • Cheque book and debit card convenience
  • Interest payable at the end of every month
  • Interest payable on amount utilised and for no of days amount utilised
  • Payment can be done at any branch of ICICI bank across India

Documentation Required for ICICI Bank Gold Loan:

  • 3 passport size photographs
  • Proof of Identity
  • Proof of Address
  • Proof of land holding in case of agriculture loan of more than Rs. 1 lac. Proof is not required for allied agriculture purposes
  • Simplified paperwork for past / existing customers of Loan Against Gold and Gold Ornaments

Interest Rates & Fees for ICICI Bank

  • Interest rate for agricultural advances is 13% p.a.
  • Interest rate for allied agricultural advances is 14% p.a.
  • Interest rate for non agricultural advances is 16.5% p.a.
  • Processing fees, as applicable (currently at 1% of sanction limit), is payable at the time of sanction of facility.
  • In the case of default in repayment, penal interest (as the case may be) will be charged at the rate of 6% per annum over and above the normal rate of interest.

 

Interest Rate and Charges – ICICI Bank Gold Loan August 2016

Description Minimum Maximum
Loan Amount ₹ 10,000 ₹ 15,00,000
Loan Tenure 6 months 12 months

 

Interest rate range

 

Minimum Maximum Mean Penal Interest
10.00% 16.50% 13.50% 6.00%#

#Penal Interest is not applicable for agricultural loans up to ₹ 25,000 per customer.

Charges:

Particulars Twelve months product Six months product
Processing Fees 1.0% of loan amount 1.0% of loan amount
Prepayment Fees** 1% of Principal Outstanding 1% of Principal Outstanding
Documentation Charges ₹ 199 NA
Renewal Fees For loans:

  • Upto ₹ 1 Lacs – ₹ 250
  • Greater than ₹ 1 lacs – upto ₹ 2 Lacs – ₹ 350
  • Greater than ₹ 2 Lacs – ₹ 500
Stamp Duty and other statutory charges As per Applicable laws of the State

Note: Service Tax and other taxes are also applicable.

The above fees will not be applicable for agricultural loans up to ₹ 25,000 per customer.

**Prepayment fees for six months product will apply if the account gets closed within 5 months and for one year product if the account gets closed within 11 months.

ICICI Bank Gold Loan EMI Calculator

For EMI Calculations you have to just enter your loan amount, Repayment period & Interest Rates.

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

Documentation required to get ICICI Bank Gold Loan:

  1. Two passport size photograph
  2. ID Proof such as Driving License / PAN Card / Form 60/61 / Passport Copy / Voter ID Card / Aadhaar Card / Ration Card. Any one document needs to be submitted
  3. Address Proof such as Driving License / Voter ID Card / Ration Card / Aadhaar Card / Passport Copy / registered lease agreement with not older than 3 months utility bills in the name of landlord (any one)
  4. Proof of land holding in case of agriculture loan of more than Rs. 1 lakh
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Average rating:  
 1 reviews
by Rakesh kumar
No

as per my view, interest rate charges are little bit on higher side as compare to muthoot.