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Best Gold Loan Rates Across Banks, Gold Finance NBFCs In India


Gold loan is easy to secure without the hassle of tedious documentation and may be processed rather sooner in comparison to loan products which may entail more efforts and may even charge you higher. And what all you need is verified gold in terms of both quality and quantity, which is rather determined by the lender and cost to be borne by you and your ID proofs.

Best Gold Loan Rates Across Banks, Gold Finance NBFCs In India

So, even though mortgaging or giving out your family gold has an emotional aspect to it, the time can be such that your financial crisis could be taken care of through the gold you preserved over the years. And if you also happen to be in a similar daunting financial burden, here is a ready-reckoner for you telling on best gold loan rates across banks and gold finance NBFCs in India:

It is to be noted that gold loans are for a shorter term say 36 months or 3 years as with the SBI Personal Gold Loan scheme.

Bank or NBFC Interest Rate Other Charges

SBI 7-7.5% 0.5% plus GST

Canara Bank 1 year MCLR (7.65%)

Bank of Maharasthra 8% As applicable

UCO Bank 8.5%

Indian Bank 8.5-8.75%

PNB 8.6-9.15% 0.75% of loan amount

Central Bank of India 7.15-9.2%

IndusInd Bank 10.5-16% 1%

AU Small Finance Bank Up to 18% 1% of loan amoutn

Kotak Mahindra Bank 10.5-17% Up to 2%

Axis Bank 9.75-17% 1% plus GST

HDFC Bank 9.9-17.9% 1.5% plus GST

ICICI Bank 10-19.76% 1% of loan amount

Muthoot Finance 12-27%

Manappuram Finance Max 29%

Federal Bank Starting at 8.5%

Union Bank MCLR plus 1.65% to MCLR plus 2.4%

Read more about: gold loan interest rate
Story first published: Saturday, September 5, 2020, 9:01 [IST]
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