Federal Bank Gold Loan Interest Rate
- Rashmita Choudhary
- Sep 8
- 10 min read
Federal Bank helps you satisfy your financial demands by providing a variety of gold loan choices. These loans enable you to obtain rapid cash against your gold for various purposes. It includes weddings, schooling, business, and personal costs. Borrowing is quick and easy, with flexible payback options, little paperwork, and interest rates as low as 8.15% p.a. The most recent interest rates, eligibility, fees, per-gram rates, application procedures, and repayment choices will all be covered.
Table of Contents
Characteristics of the Federal Bank Gold Loan Scheme
Minimum Loan Amount: A loan with a minimum of Rs. 1000 is offered.
Maximum limit: Being a secured loan, Federal Bank Gold Loan has no maximum limit to the amount that can be obtained.
Tenure: A gold loan's maximum payback time is 12 months.
Interest on Federal Bank gold loans: Federal Bank gold loans have interest rates ranging from 8.50% to 12.95%.
Today's Federal Bank gold loan rate per gramme: The purity of the gold and market prices determine the Federal Bank's gold loan rate per gramme, which ranges from Rs. 1755 to Rs. 2145.
Storage: The gold jewellery you provided to the bank as collateral can be retrieved from the bank's safe once the entire loan has been paid back.
Types of Federal Bank Gold Loans
A variety of gold loan plans are available from Federal Bank to accommodate customers' various needs. These are the specifics of the many Federal Bank Gold Loan programs that are open to everyone.
All-purpose Gold Loan: Borrowers may receive a loan under this program up to 75% of the value of their gold possessions. This loan has an interest rate that starts at 8.99% annually and might change depending on the loan's intended use.
The Agri-Gold Plan: This program, which offers loans up to 90% of the market value of their gold products, is especially intended for farmers. A loan corpus of up to Rs. 150 lakh is available to borrowers at an annual interest rate of 8.99%.
Gold DIGI Overdraft: Under the DIGI Gold Overdraft program, borrowers can pledge their gold assets to the bank and withdraw up to 72% of their value whenever they need rapid cash. It is crucial to remember that the bank will keep the gold in a secure location for the duration of the lease.
Gold Loan from Fed Smart Saver: The interest rate on this Federal Bank gold loan program is the lowest of all the programs, with an annual beginning rate of 8.15%. Borrowers can also choose bullet repayment, which allows them to pay back the entire corpus at the conclusion of the term without having to make interest payments each month.
Federal Bank Gold Loan Interest Rate 2025
A Federal Bank gold loan has an initial interest rate of 8.99% p.a. The Federal Bank may offer a fixed or floating gold loan. The table below provides a thorough summary of the rates:
Federal Bank Gold Loan Per Gram
The Federal Bank gold loan rate per gramme is shown in the table below:
Federal Bank Agriculture Gold Loan Interest Rate
A speciality credit program created especially for farmers is the Federal Bank Agri Gold credit. Farmers are eligible to receive loans under this scheme with a minimum of Rs. 1,000 and a maximum of Rs. 150 lakhs. The interest rate for the Federal Bank's Agri Gold Loan is 8.99% per annum.
Federal Bank Gold Loan Processing Fee
The processing costs that Federal Bank charges for its gold lending programs are as follows:
Loan Processing Fees:
Note: The interest is calculated as a percentage of the loan amount.
Security Operation Fee:
Penalties for Delays in Repayment:
Federal Bank Gold Loan Appraiser Charges
Federal Bank Gold Loans' gold loan appraiser fees are as follows:
Calculation of Federal Bank Gold Loan Interest Rate
The Federal Bank website has a reliable online gold loan interest calculator. You can use this calculator to estimate the total amount of interest payments and EMIs. It can be done by entering your desired loan amount, tenure (in months), and Federal Bank gold loan interest rate (you can choose between variable and fixed rates).
Federal Bank Gold Loan Eligibility Criteria
The following requirements must be met to apply for a Federal Bank gold loan:
Age: Applying for a gold loan requires that applicants be at least eighteen years old.
Gold purity: The gold pledged as collateral must be at least 22 carats in terms of purity.
Steps to Apply for a Federal Bank Gold Loan
There are two primary ways to apply for a gold loan through the Federal Bank's simplified application process. Below is a detailed discussion of them:
Online Method
Step 1: For a gold loan application, visit the Federal Bank website.
Step 2: Fill out the required fields and press "Submit."
Step 3: A bank representative will get in touch with you.
Step 4: Visit the bank branch to turn in the necessary paperwork and offer gold as security.
Step 5: The materials supplied will be examined by the bank. If everything is OK, the loan amount will be transferred to your bank account.
Offline Method
Step 1: Bring the necessary paperwork to the closest Federal Bank location. Since the bank already has your information, no further paperwork is required if you are an existing customer. All new clients must provide the essential documentation.
Step 2: Complete the application and attach the documents.
Step 3: Offer gold security in the form of at least 22 carats purity.
Step 4: The materials supplied will be examined by the bank. If everything is OK, the loan amount will be transferred to your bank account.
Documents Required for Federal Bank Gold Loan
The documentation needed for a Federal Bank gold loan application differs based on whether you are a new or current customer. A breakdown of the same can be seen here.
Existing Client: There is no need for extra documentation if you are already a Federal Bank customer.
New Customer: The following paperwork are needed:
Identity Verification: Voter ID, passport, PAN card, or Aadhaar card
Proof of Address: Aadhaar card, passport, electricity bills, ration cards, or lease agreements
A recent passport-size photo
Steps to Pay Gold Loan Interest in Federal Bank Online
Use these procedures to make an online interest payment on your Federal Bank gold loan:
Step 1: Open the Fed Mobile app and log in.
Step 2: Choose "Loan Repayment" from the "Bill Payment" section under "Services".
Step 3: Select your service supplier.
Step 4: Provide the loan account information that your lender has asked for.
Step 5: Check if the loan installment amount was automatically retrieved or, if not, enter it manually.
Step 6: Use your bank account to finish the payment.
You can easily use the Fed Mobile app to pay the interest on your Federal Bank gold loan online by following these instructions.
Steps to Close Federal Bank Gold Loan
The following is a detailed explanation of how to close a Federal Bank gold loan:
Step 1: Visit the Federal Bank branch that is closest to you. Bring cash or a chequebook so you can pay the remaining sum on your loan account, along with all the required paperwork.
Step 2: Write a letter to the bank representative requesting that the loan account be closed.
Step 3: Give the bank representative all your supporting documentation and pay the remaining balance.
Step 4: Obtain an NDC, or No Dues Certificate, from the lender to obtain confirmation of loan payback.
Your loan account will be closed by the bank once all pre-closure procedures have been fulfilled.
Comparison Between the Gold Loan Interest Rates
Benefits of the Federal Bank Gold Loan Scheme
Since a gold loan can be obtained in a single day, it offers quick support during emergencies. The loan may be used for any of the following purposes, among others:
A gold loan can be obtained to cover the cost of a child's education.
When a medical emergency arises, a gold loan can be helpful.
It might help with fulfilling working capital requirements or expanding a business.
To improve agriculture by investing in irrigation and other necessary equipment.
To get a fast loan while on the road.
Makes you consider using a personal asset to satisfy your needs.
Conclusion
These days, having emergency cash on hand might be very important. The gold loan alternatives offered by Federal Bank offer a safe and adaptable way to meet your financial demands by utilising the value of your gold holdings. Federal Bank provides an attractive option for both individuals and farms with its reasonable interest rates on gold loans, customised plans, and simplified procedures.
FAQs
Q1. What is the Federal Bank gold loan interest rate?
Federal Bank has attractive interest rates on its gold loan, starting at 8.99%. However, several variables will decide the exact rate you are qualified for. These could include your creditworthiness, the weight and purity of the gold being pledged, the loan amount, and the term (loan period).
Q2. What is the interest of Rs. 1 lakh in a Federal Bank gold loan?
The Federal Bank's interest rate for a Rs. 1 lakh gold loan starts at 8.99%. The rate is based on the loan duration and the purity of the gold pledged.
Q3. What are the features of Federal Bank's Special Gold Loan Scheme?
The Special Gold Loan Scheme allows one to get a loan for as little as Rs. 1000 or as much as Rs. 75 lakhs. This method may also result in a bigger payment per gram of gold for the borrower. The only gold accepted as collateral is 22-carat gold, including jewels, coins, and other accessories.
Q4. What kind of gold may I use as collateral to obtain a gold loan?
Any type of gold accessories or jewellery can be used as a commitment.
Q5. Do I need a guarantor for the Federal Bank Gold Loan?
No, obtaining this gold loan does not require a guarantor.
Q6. What is the maximum limit for Federal Bank Gold Loan?
The biggest gold loan amount offered by Federal Bank, one of India's leading financial institutions, is Rs. 150 lakhs.
Q7. What happens if the loan amount is not repaid on the due date?
Penal interest will be assessed if the loan balance is not paid back by the due date. The lender will auction the gold to secure the loan amount if there are persistent defaults.
Q8. Is the pledged gold safe with the Federal Bank?
You don't need to worry about the safety because the bank keeps your gold in a well-maintained locker.
Q9. How long does it take to obtain a Federal Bank gold loan?
You can obtain it in just one hour provided that you have the right paperwork.
Q10. How can I connect with the customer care service of Federal Bank?
You may reach customer service for Federal Bank personal loans by calling 1800 425 1199 or 1800 420 1199. These toll-free numbers support the bank's customer service representatives and are open around the clock. The same services are available to non-resident customers by contacting 080 61991199, 0484 2630994, or 0484 2630995.
Q11. How to check your gold loan balance in the Federal Bank?
You can check your Federal Bank gold loan balance in several ways. This includes going to your branch, using the Fed Mobile app, and utilising Net banking.
Q12. How can I check the gold loan status in the Federal Bank?
Use the Fed Mobile app or stop by your local Federal Bank location to find out the status of a gold loan.
Q13. How can I close a gold loan in the Federal Bank?
You can end your Federal Bank gold loan by making all the remaining principal and interest payments. Next, go to the branch that is closest to you or utilise online banking to request that your loan account be closed. Additionally, make sure to cover any closing costs related to terminating your gold loan account. You can pick up your promised gold ornaments from the bank after the verification is complete.
Q14. How can I renew a gold loan in the Federal Bank?
By going to your branch or utilising online banking before the maturity date, you can extend your Federal Bank gold loan. Next, pay the renewal charge (if applicable) and any interest that has accumulated. Your loan duration will be extended by your agreement.
