Gold Loan Benefits at HDFC Bank

An investment, worthy of its name, gold comes in handy when one requires instant funds. You can take out a Gold Loan from your bank, by pledging your gold jewellery or coins. The gold serves as collateral with the bank until the loan is repaid in full. Here are some HDFC Bank Gold Loans benefits to consider before apply.
​​​​​​​

• Lower interest rates and processing fees
  HDFC Bank offers best interest rates on Gold Loans. Our select customers can also benefit from further discounted rates. You can also look forward to a minimal processing fee of only 1.50% on the loan amount. 
  
  
• Minimal documentation
  HDFC bank follows a simple, KYC-based documentation process. You only need to submit necessary documents such as your identity and address proofs. There is no need to provide your income proof documents or your credit scores. 
  
  
• Waiver on loan foreclosure charges 
  While speaking of Gold Loan benefits, it should be mentioned that HDFC Bank does not levy any foreclosure charges on loan, after three months. As such, you can pay off your entire loan any time after three months, without worrying about any prepayment penalties. 
• Flexible repayment tenures and high LTV ratio
  Another Gold Loan benefit is that it comes with flexible repayment tenures. The minimum and maximum repayment tenure for this loan are 6 months and 24 months, respectively. Moreover, you can get a high maximum Loan to Value ratio of 75% of the calculated weight of gold.
  
  
• Different types of loan repayment schemes
  Gold Loans may be repaid through different schemes. 
  • You can also choose to pay the interest upfront and pay the principal amount at the end of your tenure. 
  • If you choose bullet repayment option, you can repay the principal and interest after one year. 
  • You can also choose to repay using regular EMis.

As is apparent, there are many HDFC Bank Gold Loan benefits. Click here apply for HDFC Bank Gold Loan and fulfil all your financial needs on your own.