Federal Bank Gold Loan – Interest Rates 2024 Schemes

Federal Bank offers gold loan schemes in four different categories – Women, cash against gold, Apna gold 24 x 7, Goldlite. Details on Documents, Interest rates & features of various schemes.

Interest Rates on Gold Loans – Federal Bank:

  • Gold Loan (Goldlite) – 8.50 onwards

Diva Gold / Gold Loan for Women:

Federal Bank presents Diva Gold, a special gold loan scheme exclusively for women, which caters to the specific needs of a woman.

Features:

  • No processing fee
  • No hidden charges
  • Speedy processing
  • Loan can be availed up to Rs 100 Lakh
  • Available in 6 Months / 12 Months tenure
  • Repayment can be made in lumpsum

Eligibility:

Who can avail the loan?

  • Any woman customer (Individuals) can avail Diva Gold loan.
  • Loan amount can be used meet any personal/lawful needs of the customer

Apna Gold 24 X 7:

Now get the unique Gold loan facility from Federal Bank – gold loans with overdraft facility. Enjoy the comfort of withdrawing loan amount through debit card with an overdraft facility against pledged gold.

Key features

  • Cash/Shopping 24*7 through multiple channels
  • Facility of a locker
  • A secured credit card
  • Free insurance cover
  • Longer tenure of 36 Months
  • Visit Branch only once in 36 months for renewal
  • Recycling credit/Overdraft facility
  • Loan amount up to 75 lakhs
  • Interest only for the amount used and for the actual days of use
  • Partial withdrawal
  • Simple formalities
Security for the loan will be pledge of 22 ct gold ornaments

Who can apply

Any Individuals who own gold ornaments/coins

Documents Required for Gold Loan:

If you are a new customer, following documents are required:

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
  • Recent Passport size photograph
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)