Offers Details

Too many schemes to choose from …we shall never run out of options

FAQs

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What is the kind of security against which I can avail the loan?

You can avail the loan against pledge of your household ornaments. The loan offered shall depend upon the purity level of your ornaments and the net weight of gold content.

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Can I avail loan against my gold bullion (coins, gold bars, gold biscuits etc)?

As per regulatory guidelines, we are not permitted to finance against pledge of your gold bullion.

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How do I know that my gold is safe with you?

Our staff follows strict operating guidelines while handling customer ornaments. This avoids ornament breakage and loss. The ornaments are kept in safe custody (safe rooms or strong rooms) with adequate security measures in the branch.

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Is there any maximum and minimum limit for availing Gold Loan? What about the tenure of the loan, lock-in period, and prepayment penalties?

Fedfina Gold loans can be availed for any amount between Rs 3,000 to a maximum of Rs 1 core. Loans are available for period of 3 month to 12 months. Our gold loans have a minimum lock in period of 1 day and there are no prepayment penalties

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Is there any Daily interest payment scheme available? How is the interest calculated?

Yes, our gold Loan schemes also have a minimum lock-in period of 1 day, the interest is applicable only for the days the money was actually utilized. It is calculated on simple interest rate.

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What is the shortest tenor of Gold loan?

Our gold loan products have the shortest tenor of three months. Customers are counseled to service the interest on a monthly basis, to avoid risk of default.

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What are some of the gold loan schemes that Fedfina gold loans offers to suit its customers from different income groups?

Our gold loan schemes fall broadly into following categories:

- a) Maximum Value for Gold: These schemes offer the maximum amount of loan per gram.

- b) Low interest rate: In this category, the interest rates are lower which offers the customer a choice of higher/lower Loan to Value (LTV) and tenure.

- c) Flexible Repayment Option: Our products are tailored to suit the requirement of customer as at their comfort levels with respect to the interest rate and periodicity of repayment of interest and principal. Incidentally, gold loans can be availed at our branches for amounts as low as a Rs 3,000 and as high as 1crore.

- d) Loan Transfer: Balance transfer is designed to help customers to transfer their gold loans with higher interest rate with banks & NBFC to Fedbank Loan transfer scheme which offers lower rate of interest.

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It was so nice to remind our monthly EMI dates through SMS. I have never seen any Banks/ NBFCs who are intimating their customers. I am pretty satisfied with your services.

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