Gold Loans
Features & Benefits
Net Weight Assessment for Valuation of Gold Collaterals
Net weight is calculated by deducting the weight of non-gold items such as stones, wax, other alloys etc. from gross weight. For gold jewellery with purity below 22 Kt (but not less than 18 Kt), the collateral is translated into 22 Kt and the exact grams of the collateral is valued.
Gold Price used for Valuing Gold Collaterals
The gold price used shall be the lower of:
- The average closing price of 22 Kt gold over the preceding 30 days, as published by the India Bullion and Jewellers Association (IBJA).
OR - The closing price of 22 Kt gold on the preceding day, as published by the India Bullion and Jewellers Association (IBJA).
Documents Required
If you are an existing customer, no extra documents are needed.
If you are a new customer, following documents are required:
- Proof of Identity (Aadhar card/Passport / Voters ID card/ Driving License/PAN Card)
- Recent Passport size photograph
- Address Proof (Aadhar card/Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
Interest Rates on Gold Loan & Charges
- Please visit the Interest Rates page for Gold loan interest rates.
- For service charges, please click here.
Gold Loans through Business Correspondents
- Hassle-free disbursement and release.
- Federal Bank in association with various partners.
1. M/s Rupeek Fintech Pvt Ltd
- Available in selected cities: Mumbai, Chennai, Coimbatore, Bangalore, Hyderabad, Jaipur, Surat, Ludhiana, Indore, Lucknow, Chandigarh, Pune, Ahmedabad, New Delhi, Kolkata, Rajkot, Vijayawada, Mysore.
- Contact details of Nodal Grievance Redressal Officer – M/s Rupeek Fintech Pvt Ltd
Mr. Mohammed Imtiyaz
Rupeek Fintech Private Limited
Plot #45/B, Shubham Complex,
1st A Main, Ground Floor, Front Wing(B), Sarakki Industrial
Layout, J.P. Nagar, Bangalore, Karnataka 560078 India
Phone: 080-68951717 , Timings: 9:30 am to 6:30 pm ( Monday to Friday)
E-mail: grievance@rupeek.com
- Click here for more details.
2. M/s Oro Corp Technologies Pvt Ltd
- Available in selected cities: Chennai, Bangalore, Hyderabad, Pune.
- Contact details of Nodal Grievance Redressal Officer – M/s Oro Corp Technologies Pvt Ltd
Mr. Mohammed Kabir
Contact : 091 7971171064
Orocorp Technologies Private Limited, #2, Rutland Gate 5th St, Srirampuram,
Thousand Lights West, Thousand Lights, Chennai, Tamil Nadu 600006
Email : grievance@orocorp.in
- Click here for more details.
Please visit our Grievance Redressal portal to lodge complaints if any.
Digi Gold Overdraft
With Digi Gold Overdraft scheme, pledge the gold with the bank, your gold will be stored safely & funds can be utilised whenever in need.
Know more
Explore Other Agri Loans
AGRI FARM CREDIT LOANS
Features & Benefits
Loans to individual farmers [including Self Help Groups (SHGs) or Joint Liability Groups (JLGs) i.e. groups of individual farmers, provided banks maintain disaggregated data of such loans and Proprietorship firms of farmers, directly engaged in Agriculture and Allied Activities, viz. dairy, fishery, animal husbandry, poultry, bee-keeping and sericulture. Loans sanctioned to Corporate farmers, Farmer Producer Organisations (FPOs)/(FPC) Companies of Individual Farmers, Partnership firms and Co-operatives of farmers engaged in Agriculture and Allied Activities are also eligible under farm credit subject to specific conditions.
AGRI INFRASTRUCTURE LOANS
Features & Benefits
Loans provided for construction of storage facilities, soil conservation and watershed development, Plant tissue culture and Agri-biotechnology, seed production, production of bio-pesticides, bio-fertilizer, and vermi composting are eligible to be classified under Agri infrastructure. Loans for construction of oil extraction/ processing units for production of bio-fuels, their storage and distribution infrastructure along with loans to entrepreneurs for setting up Compressed Bio Gas (CBG) plants are also eligible as per revised RBI guidelines.
AGRI ANCILLARY SERVICES
Features & Benefits
Loans to co-operative societies of farmers for purchase of the produce of members , Loans for setting up of Agri-clinics and Agri-business centres, Loans to Start-ups that are engaged in agriculture and allied services, Loans to Custom Service Units who undertake farm work for farmers on contract basis are eligible under this category. Loans provided for Food and Agro-processing up to an aggregate sanctioned limit of ₹100 crore per borrower from the banking system is also eligible under Ancillary services. Loans sanctioned by banks to MFIs and NBFCs complying specific conditions stipulated by RBI for on-lending to agriculture sector will also qualify under this head. In addition to these Bank loans to Primary Agricultural Credit Societies (PACS), Farmers’ Service Societies (FSS) and Large-sized Adivasi Multi-Purpose Societies (LAMPS) for on-lending to agriculture will qualify under ancillary category for priority classification.