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Gold Loan offers you quick and easy financing at attractive interest rates.
Utmost safety of your gold.
Higher Loan to Value
Easy repayment with
Applicants who are not existing
customers of Kotak Mahindra Bank
can also avail this facility
The gold ornaments/coins proposed
to be pledged by the customer will be
assessed and valued immediately,
in order to arrive at the loan amount eligibility
Overdraft facility provides the
flexibility to the customer to rotate
his funds and thus utilize the
credit limit as per his needs
The customer, at the time of
availing the gold loan facility,
can decide on the facility available
under the product best suited to him
The customer at the time of availing the gold loan facility can decide on the type of the repayment amongst the following options:
Phone Banking Numbers
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.
To apply for Kotak Mahindra Bank Gold Loan, you need to fulfil the followings:
|Interest Rate||10.5% to 17% depending on purpose & profile and discretion of bank|
|Loan Processing Charges||Upto 2% of Loan amount|
|Stamping Charges||Applicable as per the respective State's Stamp Act|
|Credit Administration Charges||NIL|
|Credit Appraisal Charges||Minimum Rs. 250, Maximum Rs. 2000, Based on number of ornaments, Weight & Bank Loan, first appraisal Minimum Rs. 250, Maximum Rs. 2000, Based on number of ornaments, Weight & Bank Loan, second appraisal if required as per bank Norms No appraisal charge for auto renewal|
|Commitment Charges||Rs. 1250/- per quarter or 0.5% per quarter of the limit un-utilized (applicable only to Overdraft facility where average quarterly limit utilization is below 50%)|
|Overdue Interest||3% of Overdue Amount, compounded monthly|
|Collection Charges||At the discretion of bank subject to maximum 30% of overdue amount|
|Dishonour Charges Per Instance||Rs. 750.0/-|
|Swap Charges( Replacement of PDCs)||Up to Rs. 500/- per Swap per Instance|
|Prepayment Interest / Forclosure Charges||2.25% of fore closure amount if closed 1 month ahead of the tenure.
However charges may be waived of partially or fully at the discretion of Bank.
|Duplicate Issue of NOC||NA|
|No Due Certificate||NIL to Rs. 50 as per discretion of bank|
|Charges for furnishing a copy of the credit information report (CIBIL) to the applicant.||Rs. 50/- plus service tax|
|Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule)||First instance without any charge. Post that, Rs. 250/- per request.|
|Part Foreclosure Charge||-|
|Payment Processing Charge||-|
|Valuation Charges for Used/RF Vehicles||-|
|Credit Adminstration Charges||-|
|Duplicate Foreclosure Statement Charges||-|
|NOC for National Permit||-|
|NOC for State Permit||-|
|NOC for Change in Body Type||-|
|Rebooking of Loans (due to change in borrowing structure, change of property / Asset / Collateral etc.)||-|
|Change in Installment Due Date||-|
|Change in Property / Asset / Collateral||-|
|Copy of Any Property/Loan Document||-|
|Asset Verification Charges - Immovable Assets||-|
|Legal / Incidental Charges*||Actual charges|
|NOC to Convert From Private to Commercial Registration||-|
|NOC to Convert From Commercial to Private Registration||-|
|Re-issuance of Pay Order||-|
|Non Compliance with Sanction Terms and Conditions||-|
|End-use Certificate Delays||-|
|Net Worth Statements Delays||-|
|*Taxes as applicable|
|"Blank / -" denotes that these charges are not applicable to the concerned business division|
(Original for verification and self-attested copies for submission)
|For Kotak customers||Latest address proof (only if the address of the customer as updated in the bank records is different from the address stated in this application)|
|For non-Kotak customers
||Identity Proof, Address Proof, Signature Proof (KYC Documents) and 3 passport size photographs|
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).
Guarantor is not required while availing Gold Loan.
The customer need not be an existing customer of the bank.
No income documents required up-to a loan amount of Rs. 10 lakhs.
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
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