Gold Loan
A simple, easy, reliable way to use your gold for a better tomorrowKotak Mahindra Bank now presents Kotak Gold Loan that offers quick and easy financing at very attractive interest rates. With this offering, Kotak brings to you a product designed to make your future full of golden opportunities and growth.
Key Features
- Instant loan
- Utmost safety of your gold
- Minimal documentation
- Higher Loan to Value
- Easy repayment with multiple modes
- Overdraft facility
- Need not be an existing Kotak Bank customer
Features & Benefits
- The gold ornaments /coins proposed to be pledged by the customer will be assessed & valued immediately in order to arrive at the loan amount eligibility. The customer can then avail a maximum of 90% Loan-To-Value of the total valuation as certified by the bank's assayer.
- The customer at the time of availing the gold loan facility can decide on the facility available under the product, best suited to him as well as the type of the repayment amongst the following options:
- Term Loan - Bullet (Monthly interest servicing & principal repayment at the end of the tenure)
- Term Loan - EMI ( Equated Monthly Installment)
- Overdraft Facility
- Overdraft facility provides the flexibility to the customer to rotate his funds & thus utilize the credit limit as per his needs. It not only suits the working capital needs of small business enterprises but also acts as an additional source for their business growth.
- Applicants who are not the existing customers of Kotak Mahindra Bank Ltd. can also avail this facility.