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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 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.
*ROI will be dependent on the quantum of loan and will be at bank's discretion only
|Stamp Duty||Varies from state to state|
|Renewal Charges||Up to Rs.250|
|Valuation||Rs.250 for loans up to Rs.1.5 lakhs| Rs.500 for loans above Rs.1.5 lakhs|
|Late Payment Penalty||2%|
|Partial Payment||Up to 1%|
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.
It is an open ended fund of fund scheme which invests in the HDFC Gold Exchange Traded Fund with an option of direct/growth.
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.