Gold Loan Repayment Related Customer Care FAQs - IDFC FIRST Bank | IDFC FIRST Bank

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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?

Repayment Scheme	Minimum Loan Tenure	Maximum Loan Tenure
Bullet Scheme	6 months	12 months
Monthly Interest Scheme	12 months	60 months
Equated Monthly Instalment Scheme	12 months	60 months

What methods of repayment are available for the Gold Loan?

• Internal fund transfer

• NEFT

• RTGS

• Cheque

• UPI

• SI/NACH

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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