Federal Gold Loans
Features & Benefits
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.
Frequently Asked Questions- Gold Loans
What is a Gold Loan?
It is a loan secured against the gold ornaments/bank coins acceptable as per RBI guidelines, which a customer pledges with the bank. The loan amount can be utilized for personal/business/agriculture & any other non-speculative purposes. It’s a loan which can be availed quickly and easily instead of going to pawn broker with higher rate of interest.
What are the benefits of Federal Gold Loan?
Gold loans from Federal Bank offers you following benefits:
- Instant sanction and hassle free processing
- Low rates of interest
- Minimal Paper work and quick disbursement
- Convenient repayment and flexible tenure
- Higher Per Gram Rates
- No Hidden Charges
- Security for the loan will be pledge of 22 ct. gold ornaments
What is the Eligibility for Gold Loan?
For a gold loan, applicants should be individuals aged above 18 years and should have gold that needs to be pledged with the bank.
What is the interest charge on gold loan?
The interest rate on your gold loan varies depending upon the gold loan scheme. To view the interest rates on Gold loan, please click here.
What is the maximum amount that can be sanctioned under the gold loan scheme?
You can avail maximum Rs.150 Lakhs under Gold loan scheme.
Can I foreclose or prepay my Gold Loan?
Yes, you can foreclose or prepay your gold loan
Can I partially repay the Gold loan amount?
Yes, you can make part-payment. However, the gold ornaments pledged with Bank will be released only after the entire outstanding amount is repaid.
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