All You Need to know about ICICI Gold Loan

The ever increasing cost of living and inflation has made comfortable living, a thing of the past. Spiralling prices and associated administrative challenges has made it nothing short of a challenge, for any individual, who would like to buy several things and amenities This is because the expenses are too high while the monthly income of the individual remains the same.

This is where Bank Loans play a critical part. Loans are basically designed for the people who wish to buy several things but can’t afford them. To suit various needs of the customers, different types of loans are offered. One of these types of loans is gold loan which is most preferred, to relieve you from a tricky financial position or commitment. These are loans that are given on gold. In other words, gold is pledged as collateral by the borrower for a particular sum of money.

The ICICI Bank is one of the biggest and safest banking network systems in our country The ICICI Gold Loan  offered by the ICICI Bank is a step forward in meeting the critical medical expenses which the insured patient may incur , during his treatment.

Where can an ICICI Bank Gold Loan Help?

The ICICI Bank Gold Loan can help you meet most of your critical needs like;

  • Business expansion/ working capital requirement
  • Education for children
  • Agricultural need
  • Down payment for buying property/ vehicle
  • Vacation with the family
  • Medical emergency


Eligibility factors to avail an ICICI Gold Loan


Any Individual between the ages of 18 and 70 years can apply for the gold loan. Applicant must prove to the bank that he/ she has the sufficient income required to repay the loan amount. For security requirements, the applicant must provide security in the form of gold.


The ICICI Gold Bonds or Government Of India’s Sovereign Gold Bonds is a hassle free investment option as a part of the ICICI Gold Loan Scheme. The ICICI Gold bonds come with very attractive benefits;

  • Attractive Interest with asset appreciation opportunity
  • Redemption is linked to Gold Price
  • Elimination of risk and cost of storage
  • Exempt from Capital gains tax, if held till maturity

Another very attractive feature of the ICICI Gold Bonds is that you can invest online. The tenure for these bonds is  8 years. However, at the end of the 5th year, the investor can exit the scheme, if he is not satisfied with the outcome.

Gold, being the most precious and valuable metal, is the first choice preference for any family. Gold plays a very important role as a surety or back up, during any emergency situations and is the most relied upon commodity. Gold has also been offered as a gift on many occasions. Very commonly offered is the Gold Coin. ICICI Bank is amongst the first banks in the country to have started perennial retailing of Gold through its branches. The ICICI Bank Gold coins are available as 0.5g, 1g, 2.5g, 5g, 8g, 10g, 20g, 50g and 100g gold coins, that are imported from Switzerland.  The ICICI Gold coins are available at select branches of ICICI Bank.

Why choose ICICI Gold Loans?

Through the ICICI Gold Loan scheme, The ICICI Bank is committed to provide its customers,  value for their investment. Some of the interesting benefits which make the ICICI Bank Gold Loan, the most preferred amongst all the customers are;

  • Now, instant Gold Loans worth anywhere between Rs. 10,000.00 to Rs. 15 Lakhs can be availed by just walking into any of your nearest ICICI Bank.
  • The procedure to process your ICICI Bank Gold Loan application is very simple.
  • The ICICI Bank Gold Loan scheme comes at a very comfortable interest rate, suiting the convenience of its customers.
  • ICICI is committed to ensure safety of the investor’s investments. The process is completely transparent and in the presence of the investor.

ICICI Gold Loan – Frequently Asked Questions


  • What is the minimum and maximum loan amount that I can avail with the ICICI Gold Loan?


A  The minimum loan amount that you can avail is Rs. 10,000 and the maximum is Rs. 15 Lakhs.


  1.   What are the documents that I need to submit?
  2.   These are the documents which need to be submitted:
  • Passport size photographs (two)
  • Any one ID Proof such as PAN Card / Driving License/ Form 60/61 / Ration Card/ Voter ID Card / Passport Copy / Aadhaar Card.
  • Any one Address Proof such as Voter ID Card / Driving License / Ration Card / Passport Copy / Aadhaar Card / registered lease agreement. The customer is also required to submit utility bills in the name of landlord which is not older than 3 months old
  • In case of agriculture loan of more than Rs. 1 lakh, customer will need to provide proof of land holding



  1. In case my address changes (due to for example, a change in job location), will I need to contact the bank and let them know?
  2. Yes. ICICI Bank will have to be notified within 7 working days of you changing your address of residence/ business. The details must be given in writing to the bank.
  3. How is the interest on my account calculated?
  4.  Interest is calculated as simple interest, which is fixed and is calculated on reducing balance basis.
  5.  How can I repay the ICICI Gold loan amount?
  6.  You can repay the loan by Cheque, Cash, and DD or through Funds Transfer. The jewellery will be released when the bank receives the amount borrowed.