Interest Rate & Loan Details

• Interest Rate: Starts from 9.84 to 10.80 percent per annum, varies by loan amount and borrower profile
• Loan Amount:
  • Minimum: 10,000
  • Maximum: 50 lakh
• Loan Tenure: Up to 60 months under EMI plan; bullet or monthly interest options up to 12 months
• Processing Fee: Up to 1 percent of loan amount
• Valuation Fee: 550 per case
• Pre-closure Charges: Up to 2 percent of outstanding principal if closed within 180 days
• Part Payment Charges: Up to 2 percent if done within 180 days
• Bounce Penalty: Ten percent of EMI bounced, minimum 200, maximum 750
• Late Payment Fee: Two percent per month or 300, whichever is higher
• Auction Charges:
  • Notice issuance: 375
  • Publication: as per actual cost
  • Platform fees: one percent of auction bid value
• Loan-to-Value Ratio: Up to seventy five percent of pledged gold value

Purpose of Gold Loan

• Personal expenses
• Education or medical costs
• Business working capital
• Agricultural or seasonal needs

Eligibility Criteria

• Age range: 18 to 70 years
• Gold collateral: gold jewellery between 18 and 22 carats, and gold coins
• KYC documentation: valid ID and address proof required

Documents Required

• Completed application form with photo
• ID proof (Aadhaar, PAN, Passport, Voter ID, Driving License)
• Address proof (utility bill, Aadhaar, Passport, Voter ID, Driving License)

Repayment Options

• EMI Plan: Up to sixty months tenure
• Bullet Plan: Principal and interest due at the end within twelve months
• Monthly Interest Plan: Interest monthly, principal on maturity

Charges & Fees

• Processing Fee: as stated above
• Valuation Fee: as stated above
• Pre-closure and part payment fees: as stated above
• Bounce and late payment penalties: as above
• Auction charges: as above

Key Considerations

• Gold must be genuine jewellery or coins; not bullion
• Margin maintained during entire tenure
• Non-repayment can lead to gold forfeiture and auction

Benefits of IDFC FIRST Bank Gold Loan

• Fixed interest rates with no step-up
• Digital onboarding with eKYC and eSign
• Quick disbursal, often within hours
• Secure vault storage for pledged gold

Contact IDFC FIRST Bank

• Customer Care: Refer to official website for local branch details
• Website: idfcfirstbank.com

Disclaimer: The above information is based on official and publicly available IDFC FIRST Bank resources and may vary by branch or time. Please verify exact gold loan terms with your nearest Coimbatore branch or via the official website before applying.