The highest amount available for a gold loan can reach up to Rs. 1.5 Crore. This limit, however, varies significantly depending on the bank or Non-Banking Financial Company (NBFC) you choose.
Gold loans are a popular financial instrument, allowing individuals to leverage their gold assets to secure funds for various needs. While the minimum amount for a gold loan can be as low as Rs. 1,000, the maximum ceiling is determined by the lender's policies, the purity and weight of the gold, and the prevailing gold prices.
Gold Loan Limits by Lender
Different financial institutions offer varying maximum limits for gold loans. Below is a breakdown of the maximum gold loan amounts provided by some prominent banks and NBFCs:
| Bank / NBFC | Minimum Amount | Maximum Amount |
|---|---|---|
| Federal Bank | Rs. 1,000 | Rs. 1.5 Cr. |
| IDBI Bank | Rs. 10,000 | Rs. 50 lakhs |
| Indian Bank | Not specified | Rs. 35 lakhs |
| AU Small Finance Bank | Rs. 10,000 | Rs. 15 lakh |
As evident from the table, Federal Bank currently offers the highest gold loan amount at Rs. 1.5 Crore. It's important for borrowers to compare these limits, along with other factors like interest rates, loan-to-value (LTV) ratio, and repayment terms, before deciding on a lender. The loan amount you qualify for also depends on the valuation of your gold, which is typically based on its purity (e.g., 18K, 22K, 24K) and weight.
