Secure Gold Loan with ICICI Bank

A loan against your gold jewellery is known as a Gold Loan or a Jewel Loan. At ICICI Bank, a customer can quickly avail a Gold Loan of any value between Rs 50,000 to Rs 2 crore. Features of Gold Loans, like ease of documentation and instant disbursal, make it an easy and convenient way of securing funds.

Getting a Gold Loan typically involves these steps:

• Application: Fill out an application form, either online or Visit any ICICI Bank Branch. Provide details such as Name and Mobile Number
• Gold Valuation: The lender evaluates the purity and weight of the gold you intend to pledge. This determines the loan amount you can receive as a percentage of the gold's market value
• Documentation: Submit necessary documents such as identity proof and address proof
• Loan Approval: Once the valuation and documentation are verified, the loan is approved and terms, including loan amount, interest rate and repayment schedule, are agreed upon
• Disbursal: The loan amount is disbursed to your bank account depending on the lender's policies
• Repayment: Use the Gold Loan Calculator to understand the repayment of the loan with a tenure of 6 months or 12 months.

*T&Cs.

ICICI Bank Gold Loan comes with a minimum interest rate of 9.25% p.a* based on the prevalent market situation. The Gold Loan interest rates will vary according to the product variants

The Gold Loan documentation process is very simple. It does not require you to share the income proofs. The documents required for a Gold Loan are:

• FTwo passport-size photographs
• FIdentity proof such as Driving Licence/ Form 60/Form61/ Passport Copy/ Voter ID Card/ Aadhaar Card. PAN Card issued in India is no longer considered as valid identity proof
• FAddress proof such as Driving Licence/ Voter ID Card/ Aadhaar Card/ Passport Copy/ Registered lease agreement with utility bills not older than 3 months in the name of your landlord (any one).
• FProof of land holding needs to be provided in case of an Agricultural Loan of more than Rs 1 lakh

ICICI Bank Gold Loan provides a quick loan disbursal subject to the verification of the gold and other documents that you submit. The approvals are at the sole discretion of ICICI Bank.

A Gold Loan can be availed for a minimum of Rs 50,000 and a maximum of Rs 2 crore per customer.

- Jewel Loan/ Gold Loan Process of Deceased Claim:

• Nominee as mentioned during account opening in iGold/AOF duly signed by customer can be considered at the time of full and final repayment in case of borrower’s death
• For cases where nominee is not declared by borrower at the time of account opening, repayment has to be done by the legal heir
• Pouch to be handed over only post closure of account
• SR should not be raised for Jewel Loan Accounts as the account gets closed at Branch end.

Adherence to the below scenarios is mandatory:

With Nomination:

a) Death Certificate

b) KYC of the nominee.

Without nomination:

1) Amount less than Rs 25000:

• Copy of Death Certificate
• Indemnity letter signed by the claimant.

2) Amount between Rs 25000 and Rs 10 lakh:

• Copy of Death Certificate
• Indemnity letter signed by the claimant, backed by 2 sureties.

3) Amount above Rs 10 lakh:

• Copy of Death Certificate
• Indemnity letter signed by the claimant backed by 2 sureties
• Affidavit on stamp paper
• Copy of the Will and letter of probate / letter of administration.

*T&Cs