Gold Loan - Know Gold Loan Interest Rate and Apply for Gold Loans Online at Kotak Bank

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Frequently Asked Questions

What is a Gold Loan?

It is a loan secured against the gold ornaments/Bank coins acceptable as per RBI guidelines, which a customer pledges with the bank. The loan amount can be utilized for personal/business & any other non-speculative purposes. It’s a loan which can be availed quickly and easily instead of going to Pawn broker with higher rate of interest.

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What are the ornaments or coins that I can pledge for gold loan?

Only acceptable gold ornaments from 18 to 22 karat and only bank minted coins (24 Karat) up to 50 gms per customer can be funded. Non funded items / articles such as Hair pins, Cufflinks, Gold watch, Gold strap, Gold idols, Gold utensils, jewellery with more than 50% deduction, Thread mangalsutra, White gold, Diamond jewellery, Imitation jewellery, Ginni, Gold bars cannot be accepted.

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Do I need to provide any income documents for gold loan?

ITR need to be submitted if availing gold loan of Rs.25 lakhs and above. PAN is a must, if the annual income exceeds Rs.5 lakhs as per Regulatory guidelines.

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Do I need to be an existing customer of the bank to take gold loan?

The customer need not be an existing customer of the bank. However, we recommend that while availing the 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.

However, we recommend that while availing the 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.

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What are the different gold loan tenures available?

Bullet Scheme Tenure of 12 Months (Can be renewed for further period of 24 Months with the same loan documents with request letter for renewal from the customer etc.). Interest Payment can be Quarterly /Half Yearly and Yearly.

Vanilla Scheme Tenure of 36 months. No renewal required during the tenure with Monthly Interest. EMI Scheme Tenure of 12,24,36,48 Months. For OD facility, please contact Branch for more details.

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