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Are there any charges levied for late payment of interest?
Yes, penal charges applicable on delayed payment as per bank’s policy.
What is the interest rate for Gold Metal Loan?
GML is available at competitive interest rates compared to CC/ OD and is determined at the time of drawdown.
Can I repay gold metal loan in physical gold?
No. Repayment is always in Indian Rupees, price for which can be fixed during the tenure of loan for an agreed value date.
How do I approach ICICI Bank for Gold Metal Loan?
You can fill in the Lead Form and our officer would get in touch with you within 24 hours.
Can I prepay the Gold Metal loan before original maturity?
Yes, under flexi loan option, one can prepay the loan before its original maturity date. Prepayment is not allowed for fixed tenure loan, however pricing can be done for repayment on maturity.
Does gold metal loan have margin requirements?
Gold Metal Loan is drawn with stipulated initial margin at the time of drawdown and the exposure is marked to market on daily basis. Customers are required to serve the margin in case it exceeds the threshold limit defined from time to time.
What are the documents that I need to submit?
List of documents is available on the website.
Can I partially repay the Gold Metal Loan?
Yes, under flexi loan option, one can do partial repayment.
Who can avail Gold Metal Loan from ICICI Bank?
Domestic jewellery manufacturer and/ or exporters can avail Gold Metal Loan from ICICI Bank.
