Gold Loan
Federal Bank helps customers get gold loans in times of a financial need. As gold loans are the quickest mode of availing instant cash, the Bank provides loans with attractive interest rates and flexible repayment options. Federal Bank’s Gold Loan API bundle enables fintech and service provider applications to get the details of loan accounts, borrower’s KYC details, loan closure amount etc. This bundle ensures a swift and hassle-free gold loan disbursal process with appealing interest rates and payment options.
APIs
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The Gold Loan Details API fetches the list of all gold loan accounts created within the requested time period.
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This API fetches KYC details of the Customer who holds the requested Account Number. The Gold Loan Customer KYC Details API is used to gather all the information about a customer who has availed for a gold loan. This information can be used to verify the customer’s identity to complete the onboarding process and then, disburse the loan amount.
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This API can be used to know the amount outstanding to close a gold loan account, at any point in time since the opening of that account. Request accepts the loan account number and the date on which the Customer wants to close the account. API computes the balance outstanding on the loan account, and additional interests / penalties like pre-closure accountable, based on the date requested in the input, to arrive at the closure amount.
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This API can be used to fetch the details of gold in physical form pledged by the Customer to avail the given gold loan. API returns such details like the Customer Name, sanction limit, account opening date, the gold scheme name and code, interest rates, gross weight and other details of the gold pledged.
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This API is used for opening Gold Loan account for existing Federal bank customers. Customer Id is a mandatory argument in loan processing.
- Customer initiates a Gold Loan Request by passing Customer Id and additional required data in the Gold Loan request to GOLD_LOAN_CREATION_Application.
- GOLD_LOAN_CREATION_Application Validates the Gold Loan Request sent by the Customer and sends back acknowledgement (positive or negative) .
- Acknowledgement message to the customer.
- The Valid Gold Loan Data will be inserted into FI database for further process.
- At regular intervals of time GOLD
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Using the Customer ID Creation API, a banking correspondence application can create a new Customer ID using the customer creation service of the Bank. To create a customer ID in banking system, the Bank requires identity proof, address proof and other vital information of the Customer.
Please consider the following field requirements while generating the request message -
1.If POA or POI in request message contains AADHA then UID Number is mandatory.
2.If POA or POI in request message contains VTRID (Voter Id) then Vtr_Id_Number is mandatory.
3.If POA or POI in request message
Plans
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Basic Plan
50 calls per 50 hours
Basic Plan
6 APIs including
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Customer_Creation_API 1.0.0
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Gold Loan Opening 1.0.0
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gold_loan_account_details_API 1.0.0
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gold_loan_calc_closure_amt_API 1.0.0
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gold_loan_cust_kyc_details_API 1.0.0