Axis Bank Gold Loan
Axis Bank Gold Loan : You can check the list of documents you will need to submit. Please keep them in mind while applying for Axis Bank Gold Loan.
Passport size photo
Duly signed application form
Proof of signature
KYC Documents – Photo ID and Address Proof (Aadhar Card / PAN Card / Passport / Driving License / Voter ID Card)
Documents after payment
What is Axis Bank Gold Loan Eligibility Criteria?
To get any kind of credit facility, it is important to meet the eligibility criteria set by the lender. If you do not meet 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 or not. 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.
The applicant must be between the ages of 18 and 75.
Anyone can use the loan, from employees to self-employed people, pensioners to housewives.
In order to be sure that you will be able to repay the borrowed amount on time, you must have a stable source of income.
Also, the purity of your gold must be above 18 karat and you can get a loan for gold coins too, but it is limited to 50g per customer.
It is not mandatory to have a co-applicant when applying for a loan.
So keep these terms 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 the maximum is also 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 will need to use the Axis Bank Gold Loan Calculator.
Using this tool, anyone can estimate the maximum amount of loan they could get 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 would be to choose the maturity period you want to repay. Axis Bank gives you a withdrawal option from 6 to 36 months.
After selecting the tenure, you will have to insert the number of ornaments or gold coins against which you want to take the loan amount.
After the previous step, enter the karat of your gold ornament (from 18, 19, 20, 21, 22 and 24 carat options) and the weight of your ornament (ornament and gold coin).
Once you’ve filled in all of this information, you’ll get an approximate amount of the loan you’re eligible for.
After obtaining the maximum loan amount, you can decide whether this amount would be sufficient for your needs or not.
How to Repay Axis Bank Gold Loan
Now we would like to tell you about the different repayment methods that you can choose according to your own discretion. Axis Bank mainly provides two repayment options – interest payment and equal monthly installments (EMI) mode of payment. You can see both payment methods below.
Through this method, you can either choose to pay the total interest amount upfront and pay the principal amount at the end of the tenure, or you can choose to pay the interest amount monthly and the principal amount at the end of the tenure. You can choose between these two methods according to what suits you best.
EMI payment method
With this method, you can choose to pay an EMI amount that will be part of your principal and interest amount. You can also 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 Methods. 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 will need to enter some basic information such as the required loan amount, the interest rate and the desired duration. The tool will instantly give you the EMI amount based on this data. Let’s understand through 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 get an EMI amount of INR 24,362.
How to get Axis Bank customer care?
If you have any doubts or queries regarding Axis Bank Gold Loan, you can contact the Axis Bank Customer Care Representative by dialing the Banking Phone Numbers – 1860-419-5555 and 1860-500-5555 – Available from 9 AM to 9 PM: 00 from Monday to Saturday. The customer care manager will patiently listen to your problems and solve them as soon as possible.