A Gold Loan is a loan obtained by the borrower in exchange for gold jewellery (of 18-22 karats) as principal collateral. A Gold Loan is offered when you hand over your gold to a bank in exchange for a particular sum. Gold Loans are a quick and easy way to borrow money with little or no paperwork.

Gold Loans are available for ornaments with a purity of 18-22 karats. Bank-issued gold coins weighing up to 50 grams per customer are also eligible. Gold Loans are not available against bullion, broken ornaments, gold idols, bars, watches, cutlery, or other gold products that are excluded from time to time under our policy.

No, to avail a Gold Loan you don't need to be an existing customer to the bank.

No income documents are required to obtain a Gold Loan from IDFC FIRST Bank.

IDFC FIRST Bank offers three types of Gold Loans:

1. Bullet Scheme: Both the interest and the principal amount are due at the end of the loan term.
2. Monthly Interest Servicing Scheme: The interest is paid monthly, and the principal is paid at the end of the loan term.
3. Equated Monthly Installments (EMI) Scheme: An EMI is a set monthly payment made on the same day each month. Each month, the EMI applies to both interest and principle, and the loan is paid off in full over a number of years.

Rs. 10,000 is the minimum Gold Loan amount for the Bullet and Monthly Interest Servicing schemes.

The minimum Gold Loan amount for the EMI Scheme is Rs 2,00,000.

The maximum amount of Gold Loan for the Bullet Scheme is Rs 10,00,000.

The maximum Gold Loan amount under the Monthly Interest Servicing Scheme and the EMI Scheme is Rs 50,00,000.

A Guarantor is not required to obtain a Gold Loan from IDFC FIRST Bank. 

When housewives or students apply for a Gold Loan, an income co-applicant is required. 

No, there is currently no provision for an overdraft facility for business purposes on a Gold Loan.

Gold Loan interest rates at IDFC FIRST Bank range between 0.83% to 1.5% per month.

_{*Subject to change as per RBI norms & at the sole discretion of the Bank.}

To apply for a Gold Loan from IDFC FIRST Bank, visit the nearest Gold Loan branch.

IDFC FIRST Bank is a pioneer in digital and paperless lending. We have expanded our cutting-edge digital lending technology to Gold Loans, allowing for rapid credit of funds via biometrics.

IDFC FIRST Bank does not charge a variable interest rate. Our interest rate is fixed for the duration of the loan. You are informed of any applicable costs in a clear and concise manner.

Your ornaments will be kept in secured sealed pouches. These pouches are placed in our state of the art vault.

When the Gold Loan is disbursed, the customer receives a gold arrangement letter with ornament specifications. Customers can refer to this document to confirm that the ornaments released are the same as those given at the time of disbursement.