Gold Loan is a best option to meet any short term and instant money requirement.
Because in this you get many features, such as –
- Low Interest Rate
- Loan Approve in 10 Minutes
- Minimum Document Required
- Different Types of Disbursal Modes
- Receive Funds by Cash or NEFT.
Also many other features that you do not get in other options of Personal Loan or Instant Loan.
Best Gold Loan Bank In India
Therefore, if you are also thinking of taking a gold loan , then the Best Gold Loan Bank List given below is going to be very useful for you.
Where the Banks of Best Gold Loans have been ranked for you by comparing the Interest Rate, Tenure, Processing Fees & Charges of Gold Loan of many Banks –
| Bank | InterestRate | monthlyDuration |
| Muthoot Finance | 12% | 36 |
| HDFC Bank | 10% | 24 |
| SBI Bank | 7.50% | 36 |
| Manappuram Finance | 12% | 12 |
| Axis Bank | 15% | 24 |
| ICICI | 10% | 12 |
| GNP | 8.06% | 12 |
| IIFL | 9.24% | 11 |
| Yes Bank | 11.25% | 36 |
| Federal Bank | 8.50% | 12 |
1 Muthoot Gold Loan
In Muthoot Finance, you can take a gold loan from ₹ 1500 to 1 crore with different schemes.
The interest rate starts from 12% which is fixed on the basis of loan amount and tenure.
Main factor-
| Rate of interest | 12.00% to 27% |
| processing fee | 0.25% to 1% of the loan amount |
| loan tenure | 1 month to 36 months |
| loan amount | ₹ 1,500 to 1 crore |
| repayment charges | is not |
Note: Maximum Tenure is of 36 Months in this but maximum Gold Loan Schemes is for a period of 1 year only.
2 HDFC Bank Gold Loan
You can get a loan in HDFC Bank by applying for a gold loan of Rs 25,000 to 50 lakh – within 60 minutes.
In this, loan is given on the basis of term loan, overdraft and EMI, which you can get by submitting KYC documents.
Factors :-
| gold loan interest rate | 10.05% to 16.05% |
| processing fee | 1.50% of the loan amount |
| loan tenure | 3 months to 2 years |
| loan amount | ₹25,000 to ₹50 lakh |
| late repayment charge | 2% per month |
| prepayment charges | For the first 3 months only |
3 SBI Gold Loan
In SBI, you can take a Gold Loan for a maximum period of 36 months at the lowest interest rate of 7.5%.
In this, you can get a loan of 25 thousand to 20 lakh in three types of schemes –
- Gold Loan (EMI)
- Liquid Gold Loan (Overdraft)
- Bullet Repayment Gold Loan
- SBI E Mudra Instant Loan
Main factors-
| SBI Interest Rate | 7.50% |
| loan tenure | 3 months to 3 years |
| loan amount | 20,000 to 20 lakh |
| processing charge | 0.50% of the loan amount(₹500 Minimum) |
| repayment charges | no |
4 Manappuram Gold Loan
The special thing about Manappuram Finance is that you can apply online in many types of gold loan schemes.
In which you can get a Gold Loan of 1 thousand to 1.5 crores without any prepayment penalty.
Important Factors –
| gold loan rate | 12% to 26% |
| processing fee | Rs. 10 (on settlement) |
| loan amount | 1 thousand to 1.5 crore |
| loan tenure | 3 months to 12 months |
| late repayment charge | 3% per month |
| prepayment charge | no |
5 Axis Gold Loan
The good thing about Axis Bank Gold Loan is that you can apply for it online, by phone or by visiting the bank – in which you are provided the loan within a day.
Factors –
| Rate of interest | 15% to 17.5% p.a. |
| processing charge | 1% + GST |
| loan tenure | 6 months to 2 years |
| late repayment fee | 2% per month |
| loan amount | ₹25,000 to 20 lakh |
| prepayment charge | No Charges. |
| scheme | EMI & Bullet Repayment |
6 ICICI Gold Loan
From ICICI Bank, you can take a gold loan from 10 thousand to 15 lakhs , which starts with an interest rate of 10%.
But in this you only get 6 months and 12 months Fix Tenure Gold Loan Scheme which is based on EMI.
Factors –
| gold loan rate | 10% to 16.7% |
| processing fee | 1% off loan amount |
| loan tenure | 6 months and 12 months |
| loan amount | ₹10,000 to ₹15 lakh |
| prepayment charge | 1% off loan outstanding |
| late repayment charge | 6% per month |
7 PNB Gold Loan
The gold loan limit for non-productive work in PNB is 10 lakhs, while there is no upper limit for productive work.
More Information –
| Rate of interest | 8.06% to 11.05% |
| processing charge | 0.70% off loan amount + tax |
| loan tenure | 1 month to 12 months |
| loan amount | ₹1,000 to 10 lakhs |
| prepayment charge | There are no charges |
8 IIFL Gold Loan
The special thing about IIFL is that your Gold Loan gets approved in 5 minutes and you get it in 30 minutes.
Also, it does not have any kind of Processing Charges and Prepayment Charges.
More Factors –
| Rate of interest | from 9.24% to 24% |
| processing charge | is not | |
| loan tenure | 3 months to 11 months |
| loan amount | ₹3,000 to 10 lakhs |
| prepayment charge | There are no charges |
| market charges | ₹500 |
Note: You will not get any Gold Loan Scheme for more than 11 months only in IIFL.
9 Yes Bank Gold Loan
The biggest thing about Yes Bank is that you can approve a gold loan of Rs 25,000 to 50 lakh online in just 1 minute.
Important Factors –
| Rate of interest | From 11.25% to 15.50% |
| processing charge | 0.75% (minimum 500) |
| loan tenure | 6 months to 3 years |
| loan amount | ₹25,000 to ₹50 lakh |
| prepayment charge | 1% for the first 6 months |
| scheme | EMI and Overdraft |
10 Federal Bank Gold Loan
Federal Bank – in the gold loan for the Agriculture Gold to 82% of market value is more than perfect as the loan amount any other bank which |
Also, you can take a gold loan of Rs 1 thousand to 1.5 crores without paying any processing fees and prepayment charges.
Gold Loan Factors –
| Rate of interest | 8.50% to 13.25% |
| processing fee | is not | |
| loan tenure | 6 months to 12 months |
| loan amount | ₹1,000 to ₹1.5 crore |
| prepayment charge | is not | |
| scheme | Bullet Repayment और Overdraft Scheme |
Note: – The interest rate for agriculture is lower than normal by 2% – 2.5%.
Important Points
There are some other things that you should keep in mind while taking a gold loan –
1. Short Term Loan
Keep in mind that the gold loan you are taking should be decided on the basis of the repayment amount you are going to pay.
That is, it should not happen that you get a loan for a longer period than you need and are unable to repay it later – so decide the period first.
