Axis Bank Gold Loan Interest Rates - How To Get Axis Bank Gold Loan?

Axis Bank Gold Loan Interest Rate: Axis Bank is one of the most popular banks in India that offers a variety of products and services to its customers. One of the products offered by Axis Bank is a gold loan. A gold loan is a type of loan where the borrower uses their gold as collateral to secure the loan. The interest rate on a gold loan from Axis Bank is very competitive and starts at just 13.50% per annum.

How Axis Bank Gold Loan Interest Rate Works?

Axis Bank Gold Loan Interest Rate is calculated on a daily basis and levied on the outstanding principal amount that you have borrowed. The interest rate is subject to change from time to time, at the sole discretion of Axis Bank . 

Axis Bank Gold Loan Interest Rates

In case you have not repaid the entire loan amount within the agreed tenure, Axis Bank will continue to charge interest on the outstanding principal amount till the time of complete repayment. The Axis Bank Gold Loan Interest Rates are mentioned below,

• Interest Rate - 13.50% p.a.to 14.50% p.a.
• Loan Amount - Rs.25,001 to Rs.25 lakh
• Loan Tenure - Up to 3 years
• Processing Fee - 0.5% of the loan amount + GST

Also Read: Axis Bank Balance Enquiry Number Online

Benefits of Axis Bank Gold Loan:

Axis Bank Gold Loan is a secured loan against your gold jewellery, coins and bars. You can avail of this loan to meet your financial needs and the loan amount will be based on the value of your gold. Here are some of the benefits of Axis Bank Gold Loan: 

• You can avail of a loan against your gold at competitive interest rates. 
• The interest rate on Axis Bank Gold Loan is fixed for the tenure of the loan, so you will know exactly how much you need to repay each month. 
• There are no pre-payment charges on Axis Bank Gold Loan, so you can repay the loan early if you wish to do so. 
• Your gold will be safe in Axis Bank’s custody during the tenure of the loan and you will receive full insurance cover for your gold. 
• You can use the funds from Axis Bank Gold Loan for any purpose, whether it is for personal or business purposes.

How to Get the Best Axis Bank Gold Loan?

To get the best Axis Bank Gold Loan, it is important to compare the interest rates offered by different banks. The interest rate on your loan will have a direct impact on your monthly EMIs and the total amount you end up paying towards the loan. Hence, it is crucial to choose a bank that offers a competitive interest rate. 

How to get axis bank gold loan

The interest rate offered by Axis Bank for gold loans ranges from 13.50% to 14.50%. The actual rate of interest charged will depend on multiple factors such as the loan amount, tenure, etc. You can use online EMI calculators to get an estimate of your monthly EMIs. It is also important to check other fees and charges that may be applicable on your loan, such as processing fees, prepayment charges, etc. Make sure you are aware of all the applicable charges before you take a gold loan from Axis Bank.

Also Read: Bank of Baroda Gold Loan Interest Rate

5 Ways to Get the Best Gold Loan from Axis Bank:

You can get a gold loan from Axis Bank at a very attractive interest rate. Here are five ways to get the best gold loan interest rate from Axis Bank: 

1. Use an online interest rate calculator: There are numerous online interest rate calculators available. You can use these calculators to compare different gold loan schemes and find the one that offers the lowest interest rate.

2. Apply for a gold loan online: Applying for a gold loan online is quick and easy. It also gives you access to a wider range of interest rates and repayment options.

3. Check your eligibility: Some banks offer special interest rates for certain categories of customers. For instance, Axis Bank offers lower interest rates for senior citizens and women borrowers. If you fall into any of these categories, be sure to check your eligibility for these special rates.

4. Compare different banks: Don’t just go with the first bank you come across. Compare different banks and their gold loan interest rates before making a decision.

5. Negotiate: Once you’ve shortlisted a few banks, don’t hesitate to negotiate with them for a lower interest rate. If you have a good credit history, you may be able to get a better deal on your loan.

The Bottom Line:

Axis Bank Gold loans are a great way to get quick access to cash, but it's important to understand the terms and conditions before borrowing. Axis Bank offers competitive interest rates and flexible repayment options, making it a good choice for borrowers who need to access funds quickly.

FAQ's:

1. How often can I redraw on my loan? 

Ans: You can redraw on your loan as often as you like, provided you have sufficient funds available. There is no limit to the number of redraws you can make. 

2. Can I make partial prepayments on my loan? 

Ans: Yes, you can make partial prepayments on your loan at any time without penalty.