Gold Loan Repayment Related Customer Care FAQs

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Categories > Repayment Related

Is it possible to foreclose the Gold Loan earlier?

Yes, you can foreclose the Gold Loan earlier.

Are there any foreclosure charges on a Gold Loan?

We do charge a nominal foreclosure fee.

More information can be found in the fees and charges section: https://www.idfcfirst.bank.in/personal-banking/loans/gold-loan/fees-and-charges

What is the repayment period for a Gold Loan?

The repayment period of the Gold Loan is determined by the scheme chosen at the time of disbursement.

The maximum duration is 12 months if the Bullet and Monthly Interest Servicing Scheme is chosen. If an EMI option is chosen, the maximum tenure is 60 months.

What methods of repayment are available for the Gold Loan?

The Gold Loan can be repaid using the following methods: cash/internal fund transfer/NEFT/RTGS/cheque/Paytm.

What is the penalty for failing to repay the Gold Loan on time?

Late payment penalties will be imposed in accordance with the terms of the Gold Loan agreement.

More information can be found in the fees & charges section: https://www.idfcfirst.bank.in/personal-banking/loans/gold-loan/fees-and-charges

What happens at the end of the loan term if the outstanding principle cannot be repaid by me?

After the current loan term expires, the Gold Loan can be renewed. You must first pay off the previous loan's interest and fees before proceeding with the loan renewal. Bullet and Monthly Interest Servicing schemes are eligible for renewal.

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