Management Co. Ltd. Kotak Securities Ltd.
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Kotak Mahindra Bank Ltd presents the Kotak Gold Loan, which offers quick and easy financing at very attractive interest rates. With this offering, Kotak brings you a product designed to make your future full of golden opportunities and growth.
For loans: *Conditions apply: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
It is a personal loan secured against the gold ornaments / coins which a customer pledges with the bank. The loan amount can be utilized for personal / business & any other non-speculative & for approved purposes.
Customer can pledge all types of gold ornaments / coins which are 18 carat & above in purity. However the bank does not accept ornaments such as "Mangalsutra", "Thali", "Raksha", Kodi", "Karimanimala", "Gold Statues" & "Gold wrist watches".
Customer needs to provide KYC documents which include identity, address & signature proof along-with 3 passport size photographs. Existing customers of the bank need to provide only latest address & signature proof.
No income documents required up-to a loan amount of 10.0 lakhs.
The customer need not be an existing customer of the bank. However we recommend that while availing Gold Loan, customer should open a savings bank / current account facility with the bank which will enable the customer to not only enjoy banking services of the bank, but also assist them in servicing the loan conveniently.
Gold Loan facility is available under 3 schemes:
Minimum Loan amount: Rs. 25,000/- Maximum Loan Amount: Rs. 25,00,000/-
Guarantor is not required while availing Gold Loan.
Disbursement can happen by way of Cash, Demand Draft, Fund Transfer (to customer's existing Kotak Mahindra Bank Ltd. account), NEFT & RTGS (to customer's other bank account).
Yes. Customer can avail overdraft facility which will be valid for a period of 12 months. Customer can revolve & utilize funds as per his/her requirement to the extent of limit sanctioned based on the value of gold ornaments / coins being pledged.
Yes. Customer can avail Term Loan with EMI as repayment type for the 2 tenures of 24 & 36 months only. Customer will be required to provide Post Dated Cheques to avail such facility.
Yes. You can choose to foreclose the loan anytime after 1 & 1/2 months of availing the loan. Please refer to General Schedule of Features and Charges for Gold Loans for details.