HDFC Gold Scheme

HDFC is one of the biggest banking titans of India. The bank offers multiple gold schemes for investment as well as availing loans. HDFC has its own Gold Exchange Traded Fund (ETF) which invests in bullion and generates returns based on the performance of gold. You also have an option to invest in the HDFC Gold Fund.

HDFC Gold Loan

HDFC offers gold loans under the Sampoorna Bharosa Gold Loan. This scheme is available across all HDFC Bank branches. To avail a loan, the gold assets has to be physically brought at the branch for evaluation. Once evaluated, the bank will offer the various scheme that you are eligible for.

Features of HDFC Gold Loan

  • The loan amount is disbursed for financing agricultural, business and personal purposes. It cannot be used for buying more gold, jewels or land etc.
  • The minimum amount of loan available is ₹50,000 with a tenure of 6 to 48 months.
  • The minimum amount of loan repayment comes to as low as ₹1,000 per lac which itself is calculated on the rate of interest of 12% per annum.
  • This loan comes with nil foreclosure charges.

Benefits Of HDFC Gold Loan

  • The entire process of loan application and documentation is instant and verified over the counter. Post valuation, the loan can be disbursed within one hour.
  • This scheme comes with flexible pricing and tenures. HDFC Bank offers special rate of interest to classic, women, preferred and Imperia class.
  • There are special rates of interest offered to Preferred, Classic, Imperia and Women account holders.

Documentation and Eligibility for HDFC Gold Loan

  • Must be an account holder of HDFC Bank.
  • PAN card is compulsory.
  • KYC - passport, driving licence, voter’s id and Aadhaar card.

Gold Loan Rates offered to the customers during the period of April 2018 to June 2018*

  • Minimum - 9.6% p.a
  • Maximum - 15.65% p.a
  • Average - 11.84% p.a

*ROI will be dependent on the quantum of loan and will be at bank's discretion only

Fees and Charges

Stamp DutyVaries from state to state
Renewal ChargesUp to Rs.250
ValuationRs.250 for loans up to Rs.1.5 lakhs| Rs.500 for loans above Rs.1.5 lakhs
Late Payment Penalty2%
Partial PaymentUp to 1%
Processing Fee0-0.5%
Foreclosure0-1%

HDFC Sovereign Gold Bond

Gold sovereign bonds are fixed income debentures which are issued by the Government of India under RBI for the purpose of encouraging investors for buying gold. These bonds are exercised in the form of digital gold, hence, there is no requirement for a locker or vault.

Features and Benefits of HDFC Sovereign Gold Bond

  • You get a 2.5% assured interest per annum on the investment.
  • It is tradeable on the stock exchange.
  • No capital gains tax on redemption.
  • The minimum permissible investment is 1 gram of gold while the maximum limit of subscription is 4 kg for individuals, 4 kg for HUF and 20 kg for trusts and similar entities.
  • The tenor of the bond is for a period of 8 years with an exit option from the 5th year which is exercised on the date of interest payment.
  • You can invest via HDFC Net Banking.
  • You can avail a loan by keeping this bond as a collateral.
  • There is no TDS.

Eligibility

  • Resident Indians.
  • Individuals, HUFs, Trust and Universities, Charitable Institutions.

HDFC Gold Fund

It is an open ended fund of fund scheme which invests in the HDFC Gold Exchange Traded Fund with an option of direct/growth.

Features of HDFC Gold Fund

  • You require an amount of ₹5000 as an initial form of minimum investment. Then, additional investments can be made in Rs.1000
  • You can invest via SIP - systematic investment plans.
  • Via SIP, you can opt for monthly or quarterly installments for investment.
  • Minimum amount for monthly and quarterly installments is Rs. 500 and then in multiples of Rs.100.

FAQs on HDFC Gold Scheme

How much gold can a Hindu Undivided Family invest under the HDFC Sovereign Gold Bond

A Hindu Undivided Family or an HUF can invest up to 4 kgs of gold under the HDFC Sovereign Gold Bond.

How many gold schemes does HDFC have?

HDFC Bank offers multiple gold schemes for purchasing and lending matters - HDFC Gold Fund, HDFC Gold Exchange Traded Fund, HDFC Sovereign Gold Bond and HDFC Gold Loan.

What is HDFC Gold DIYSIP?

HDFC Gold DIYSIP stands for do it yourself systematic investment plan. Under the do it yourself systematic investment plan, investors can purchase units of gold at different points in time.

What is the minimum rate of interest for HDFC Gold Loan?

The minimum rate of interest is 9.6% per annum.

What documents are required for availing a gold loan from HDFC?

For availing a gold loan from HDFC, you must be an existing account holder with HDFC. The documents required for the same are PAN card and Aadhaar card.

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