Axis Bank Gold Loan
You can check the list of documents to be submitted. Please keep them in mind while applying for Axis Bank Gold Loan.
- Passport size photograph
- Duly signed application form
- Proof of signature
- KYC Documents – Photo ID and Address Proof (Aadhaar Card / PAN Card / Passport / Driving License / Voter ID Card)
- Document after payment
What is the Eligibility Criteria for Axis Bank Gold Loan?
To get any type of credit facility, it is important to meet the eligibility criteria set by the lender. If you do not fulfill any of the conditions, you will not be able to get the loan amount from the lender. Through the eligibility criteria, the lender will check whether you are a suitable candidate for the loan. If you know them before applying for Axis Bank Gold Loan, you will be able to easily meet the eligibility criteria set by the lender. If you want to know about the Axis Bank Gold Loan Eligibility Criteria, you can check the terms and conditions below.
Applicant’s age should be between 18 to 75 years.
Anyone from employees to self-employed, pensioners to housewives can avail this loan.
To ensure that you are able to repay the loan on time, you must have a stable source of income.
Also, your gold purity must be above 18 carats and you can also get a loan for gold coins, but this is limited to 50 grams per customer.
It is not mandatory to have a co-applicant while applying for a loan.
So keep these conditions in mind while applying for Axis Bank Gold Loan.
Axis Bank Gold Loan Calculator – What does it do?
You must be wondering about the maximum loan amount you can get through Axis Bank Gold Loan. The minimum loan amount is fixed at INR 25,000 and maximum at INR 20,000 But as we told you, the loan amount varies according to your gold value. So, to know how much loan amount you can get against the gold you have, you need to use Axis Bank Gold Loan Calculator.
Using this tool, one can get the maximum amount of loan depending on the gold you have. So we will tell you about the steps you need to follow to use this gold loan calculator
You can check the steps you need to follow while using the gold loan eligibility calculator.
The first step will be to choose the maturity period you want to repay. Axis Bank gives you withdrawal options between 6 to 36 months.
After selecting the tenure, you need to enter the number of ornaments or gold coins you wish to take loan against.
After the previous step, enter the karat of your gold ornaments (from 18, 19, 20, 21, 22 and 24 karat options) and the weight of your ornaments (ornaments and gold coins).
Once you fill all these information, you will get the estimated amount of eligible loan.
After getting the maximum loan amount, you can decide whether this amount will be sufficient for your needs or not.
How to Repay Axis Bank Gold Loan
Now we would like to tell you about various payment methods that you can choose based on your own discretion. Axis Bank mainly offers two repayment options – interest payment and Equal Monthly Installment (EMI) payment mode. You can see both payment methods below.
With this method, you can either pay the total interest amount upfront and pay the principal amount at the end of the term, or you can choose to pay the monthly interest amount and the principal amount at the end of the term. You can choose between these two methods which suits you best.
EMI payment method
With this method, you can pay an EMI that will be part of your principal and interest amount. You can estimate this EMI amount using an EMI calculator.
How to use Axis Bank Gold Loan EMI Calculator?
Now you have an idea about Axis Bank Gold Loan repayment method. And as we mentioned, one way is to pay through EMI. Now you must be wondering what will be my EMI amount if I choose this method?
You can use Axis Bank Gold Loan EMI Calculator to know this amount. To use it, you need to enter some basic information like required loan amount, interest rate and desired duration. The tool will instantly give you the EMI amount based on this data. Let’s understand with this example.
Let’s say you want an Axis Bank Gold Loan of INR 5 lakh for 24 months with an interest rate of 15.50% per annum. So when you enter this into the calculator, you will get an EMI amount of INR 24,362.
How to get Axis Bank customer care?
If you have any doubt or query regarding Axis Bank Gold Loan, you can contact Axis Bank Customer Care Representative by dialing Banking Phone Number – 1860-419-5555 & 1860-500-5555 – Available from 9 AM to 9 PM: 000 From Monday to Saturday. Customer care manager will patiently listen to your problem and solve it as soon as possible.