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Product Details
Name of Bank


Maximum Loan Amount

INR 10,000,000

Interest Rate

11% - 16% per annum

Loan to Value Ratio


Maximum Loan Tenure

12 months (1 year)

ICICI Bank Gold Loan
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ICICI Bank Gold Loan

Fees and Charges

1. Processing fees :- 1% of Loan amount
2. Prepayment charges :- 1%, If a/c is closed within 11 months.
3. Penal Interest:- 6%
4. Valuation Charges :- Up to 1 lakh: Rs 100
Greater than 1 Lakh up to 2 lakh: Rs 200
Greater than 2 lakh up to 3 lakh: Rs 300Greater than 3 lakh up to 4 lakh: Rs 400
Greater than 4 lakh : Rs 500. Top Up Charges 1% of Top Up amount*
*Subject to minimum of Rs. 250
5. Documentation Charges* Rs 199
6. Renewal Fees
For loans:
Up to 50 thousand: RS 300
Greater than 50 thousand up to 1 lakh: Rs 350
Greater than 1 lakh up to 2 lakh: Rs 500
Greater than 2 lakh :Rs 1000

Minimum CIBIL Score

Gold loan typically do not depend on your cibil score. This is because you are provding gold as a security upfront.


You can avail Gold Loan if you are an individual within the age group of 18 to 70 years

Fees and Eligibility
Concession and Features
Special Concession


Special Features

Loan can be availed upto 1 Crore.



  • High loan amount based on gold value 

  • Flexible loan purpose and repayment 

  • Fast loan disbursal and security 

  • Low interest rates 

  • No income proof or credit score required



  •  High interest rate in comparison to PSU banks.

Pros & Cons
How to Open?

You can apply online or visit any branch of Bank of India.

Documents Required

1. Two passport size photograph.  

2. ID Proof such as Driving License / Passport Copy / Voter ID Card / Aadhaar Card / Ration Card, any one document needs to be submitted.   

3. Address Proof such as Driving License / Voter ID Card / Aadhaar Card / Passport Copy/ Job Card Issued by NREGA (any one).   

4. Proof of land holding in case of agriculture loan of more than Rs. 1 lakh.   

5. Proof of Supporting Documents for Allied Agri Activity loan more than 5 lakh

Account Opening and Procedure
Indian Bank

Indian Bank Jewel loan provides two loan schemes
1. Bullet Repayment
2. Monthly Repayment
The interest rate varies from 8.65% to 9.00% which is moderate as compared to different banks offering gold loans. However, the LTV Ratio is low i.e., only 65-70%, the other banks in the market offer higher LTV Ratio on the gold loans. Therefore, before applying for such loan check the terms and conditions properly and compare different banks offering gold loans.

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

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