Leverage your gold and give a boost to your dreams!
Almost every Indian household has a few items of gold hoarded away for a rainy day. You can now use your gold holdings –
in the form of jewellery – to help you get easy and quick financing for your needs.
Highlights
Co-applicant /
guarantor not required
Higher Loan-to-Value
Ratio
Monthly EMI,
Monthly Interest,
Bullet Repayment
* Gold Loan facility is available at select branches.
Safety
We realize that your gold comes attached with a thousand sentiments. Which is why we ensure utmost protection for your gold while you go out and realize your dreams!
Features
Loan Amount
₹25,001 to ₹50,00,000
Loan-to-Value
Maximum LTV is 84%
Tenure
6 to 39 months
Interest Rate
9.99% to 17.90% (T&C apply)
Gold Purity
18 to 24 carats
Frequently Asked Questions
About Ujjivan SFB Gold Loans
1.What is a gold loan?
A loan taken against your Gold Jewellery is known as Gold Loans.
2. Who is eligible to get a gold loan?
Eligibility - An Indian Resident between the age of 18 and 75 years is eligible to apply for a Gold Loan.
3. How are gold loans different from Individual Loans or credit cards?
Individual Loans and credit card borrowings are unsecured loans and usually carry a higher rate of interest than gold loans which are secured loans.
4. What is the rate of interest charged on such loans?
Currently, the rate of interest on our gold loans is between 9.99% to 17.90% (T&C Apply).
5. What is the tenure of such loans?
Our gold loans are available in tenures that vary between 6 to 39 months.
6. Are there any end-use restrictions involved?
No, there are no end-use restrictions in Ujjivan SFB's gold loans. You can use the loan proceeds as you deem fit but it should not be used for illegal and speculative purpose.
7. How long will it take for me to get my gold loan?
You can get your loan disbursed inside an hour! This is, however, subject to the verification of the gold, your application form and supporting documents.
Repaying your Gold Loan
8. How do I repay my Gold Loan?
3 Repayment schemes are available:-
1st Bullet Repayment - You can repay your loan through a single Bullet Repayment covering both the principal and interest at the end of the loan tenure.
2nd Monthly EMI Repayment - You can repay your loan through monthly EMI.
3rd Monthly Interest Repayment - You can repay interest on monthly basis and Principal at the time of maturity.
9. Can I foreclose or prepay my Gold Loan?
Yes, you can foreclose or make a part prepayment against your Gold Loan. Pre-closure charges will be applicable as per Schedule Of Charges.
10. What methodology is adopted by bank to assay the purity of Gold?
Gold Assessment will happen by authorised assayer of bank within branch premise under CCTV surveillance. Based on the physical testing (which will include: Weighing of the collateral, stone testing or any additional testing methods as per need) of each collateral assayer will provide the Purity (Cartage), Gross weight, eligible deduction of non-gold components and Net weight (Gross weight – Deductions) for the collateral.
11. What methodology is adopted by bank to check the gold price to determine gold value?
Gold reference rate will be same as published by IBJA. Last 30 days Average Price and previous day rate, whichever is lower that rate will be applicable for all purity within permissible range i.e. 18 to 24 carats.
Want to apply for a Gold loan?
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