Axis Bank Gold Schemes

Axis Bank has numerous gold schemes with respect to every budget and need. You can purchase gold as well as avail loan against your gold assets which have been deposited. Axis Bank currently offers gold schemes under the title of Gold Mohurs. Gold Mohurs come in two schemes, one for purchasing gold and one for availing loans.

Gold Mohurs

In order to cater to people’s gold requirements, Axis Bank allows customers to deposit their gold jewellery from which they can avails loans at attractive rates.

Features of Gold Mohurs

  • As a buyer, you can purchase Gold Mohurs from any of the 1400 Axis Bank branches across PAN India.
  • The gold is certified and assured of its purity and place of manufacture - Switzerland.
  • The gold is 99.99% pure with a 24 karat grade with Assay certification and comes in tamper-proof packaging.
  • Gold Mohurs come in the following denominations - 2|5|8|10|20|50|100 grams.
  • Goddess Laxmi is embossed on the 5 gram Gold Mohur

Benefits of Gold Mohurs

  • Investment in Gold Mohurs comes with no maintenance cost, hence the risk of incurring loss on your investment is low.
  • This scheme grows value-wise over a lifetime simply because it involves one-time payment.
  • You do not need to monitor or restructure your investment.
  • In case of an emergency, you have the option of liquidity.

For Your Information - Eligibility and KYC

  • If you seek to purchase a Gold Mohur with a value of Rs.50000 or more, it is mandatory to furnish your PAN details.
  • You must be an existing customer of Axis Bank holding either a savings bank or a current account.
  • The price of a Gold Mohur is determined by the daily changes and fluctuations of the market rate of gold.

Axis Bank Gold Loan

Apart from the attractive rate of interest on the loan repayment amount, Axis Bank also offers loyalty points to customers who have recently applied for a gold loan.

Features of Axis Bank Gold Loan

  • The borrowed loan amount ranges between ₹25001 to ₹20 lakhs with a repayment tenure of 6-36 months.
  • You get an instant disbursement of the loan amount once the required KYC documents have been approved and verified.
  • You do not need a co-applicant for the loan application.
  • You may foreclose the loan at zero additional charges only if you have made the payments regularly.
  • There are no charges associated with part payment. You can make a partial payment of a minimum ₹10000 up to a maximum of 3 payments. Also, there are no charges associated with the same.

Benefits of Axis Bank Gold Loans

  • All Axis Bank account holders who have availed for a Gold Mohour scheme will get an instant 150 eDGE loyalty points once the gold loan has been disbursed.
  • The interest is calculated on the basis of simple interest. The payback of the loan is in the form of EMIs and the interest is calculated on the method of simple interest.
  • You have two options of paying back the loan amount - Payment of interest via upfront and the remainder as principal on the maturity date/Payment of interest via installments on a monthly basis and the remainder as principal on the maturity date.

Rate of Interest

Valuation ChargesRs. 500
Penalty on Interest2% on the overdue amount
Charges for Partial PaymentNil
Foreclosure ChargesNil
Processing Fee1%
Rate of Interest14.05% to 17%

FAQs on Axis Bank Gold Scheme

Does Axis Bank provide loans on gold coins?

No, Axis Bank does not provide loans against gold coins.

What is a Gold Mohur?

Gold Mohur is the official gold scheme offered exclusively by Axis Bank. Gold Mohurs come in two schemes, one for purchasing gold and one for availing loans.

Is PAN mandatory for purchasing a Gold Mohur?

No, the PAN is only required to be furnished if you purchase a Gold Mohur worth ₹50000 and above.

What is the minimum partial payment accepted under a Gold Mohur Scheme?

The minimum partial payment you can make is ₹10000 up to a maximum of 3 payments.

What are eDGE loyalty points?

eDGE Loyalty points are reward points exclusive only to Axis Bank account holders. All Axis Bank account holders who have availed for a Gold Mohour scheme will get an instant 150 eDGE loyalty points once the gold loan has been disbursed.

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