Gold loan is the Loan sanctioned against Gold. It provides high funding to the customer. Gold Loan help in fulfilling the need for immediate funds. In this, you can fulfill your personal need, Business Expansion, education and agricultural purpose etc. If you are going through a money crisis then go for a Gold Loan. This is the best option for you. It provides you the immediate funds to fulfill your dreams and moreover it offers quick disbursal and instant approval. Following are popular banks offering Gold Loan at an attractive rate of interest.

HDFC Bank

HDFC is considered best online platform to get a gold loan. HDFC Bank is one of the reputed as well as reliable banks in the country. It is known for its brilliant financial services. The bank is founded in 1994. Besides that bank has a wider range of the network.

HDFC Gold Loan is the only loan in the market which could be available within 5 to 10 minutes with ease. And also provide Loan against Gold at the low-interest rate. Gold loans from HDFC Bank are the easiest way to get money for personal or business requirements. The money from Gold loans can be used for any kind of personal use (weddings, education, and business expansion) or any other necessity. With minimal documentation and secure storage, HDFC Gold Loans are a simple funding option to meet our needs of funds.

The Rate of Interest

A loan taken against gold jewelry to get money in return is known as Gold Loan. The interest rates are very much less as compared to unsecured loans. It takes a few minutes to get disbursed. HDFC Bank offers one of the lowest Gold Loan interest rates. HDFC Gold Loan rates of interest vary by the amount of loan.

  1. HDFC Gold Loan interest rate – 10.50% onward
  2. Processing fee 1.5%
  3. Lone Tenure – Minimum 6 months and Maximum 5 years
  4. Loan Amount – Thousand to Crore

HDFC Gold Loan Feature

  1. HDFC Gold Loan accomplish your immediate money needs
  2. The loan is approved quickly and easily.
  3. The loan gets approved in an hour.
  4. The simple documentation process.
  5. No hidden charges
  6. HDFC bank is completely liable for the security of your gold ornament. Your gold would be kept in a proper security
  7. Complete transparency to the customer.
  8. 100% safety of your jewelry

Axis Bank

Axis Bank is one of the largest private sector Bank in the country. The Bank provides the entire spectrum of financial products to the customers. The Bank has nearly 1999 branches. Axis Bank began its operations in 1994. A loan taken against some gold ornaments or jewelry to get money in return is known as Gold Loan. The interest rates are very much less as compared to unsecured loans

The Rate of Interest

Gold is one of the most precious metals. The value of this asset in our lives cannot be ignored because every person is attached to it emotionally. In addition, keeping your gold in a closed drawer when it can help you in times of emergency? Taking a Loan Against Gold can help you to overcome money cries. The loan is the best way to get cash in a short span

  1. Axis Bank Gold Loan interest rate – 14.50% - 15.50%
  2. Processing fee 2.00%
  3. Lone Tenure – Minimum 6 months and Maximum 5 years
  4. Loan Amount – Thousand to Crore

Axis Bank Gold Loan Feature

  1. First of all, you can use a gold loan amount to fulfill any of your personal need.
  2. After that, Fast processing
  3. Furthermore, Loan disbursed on the same day.
  4. There is no need to worry about your CBIL score.            
  5. Gold Loan interest rate is lower as compared to other

State Bank of India (SBI)

State Bank of India (SBI) was founded in 1955 with its headquarters in Mumbai, Maharashtra. Gold Loan is the best Loan to overcome you are immediate as well as short-term needs. The documentation process for this loan is quite simple. There are no credit checks needed for this financing. A person suffering from bad CIBIL score can avail a gold loan. The interest rate offered in Loan against gold is less compared to other Loan. To compare the Gold Loan interest rates Click Here.

The Rate of Interest

  1. SBI Gold Loan interest rate – 12.00% onward
  2. Processing fee 2.05%
  3. Lone Tenure – Minimum 6 months and Maximum 5 years
  4. Loan Amount – Thousand to Lac.
  5. SBI Gold Loan Feature
  6. No income and salary criteria
  7. Less documentation process
  8. No need of good CIBIL score
  9. Lower interest rates
  10. Less processing time

Central Bank of India

It offers minimum documentation. This Bank provides overdraft or demand loans against the security pledge must be having a purity of 22-carat gold ornaments or against gold coins sold by the bank itself. Central Bank of India offers ranges from a minimum of Rs 10,000 up to Rs 20 lakhs, the loan tenure period is 36 months. For the OD facility, the limit is renewed yearly basis. It accepts the purity of Gold of 22karat. The processing fee charged by the central bank of India is 0.25%. For the OD facility, the rate of interest is 12.50%

Federal Bank

This bank does not have any hidden charges or penalties, and also offers hassle-free loan processing and minimum documentation within just a few minutes. This Bank offers Gold Loan to the customers for up to an amount of Rs 75 lakhs, carrying interest rates between 13% onward and having repayment tenure of 12 months. Borrowers have the flexibility to repay the amount gold of purity must be 22karat only then it will be acceptable.

 

Bank

Gold Loan Interest Rate

Get The Best Offer

HDFC Bank

10.75% - 14.00%

Apply Now

Axis Bank

14.50% - 15.50%

State Bank of India

12.00% - 17.50%

Central Bank of India

12.50% - 17.50%

Federal Bank

13.00% - 15.50%

 

4 Best NBFCs for a Gold Loan   

To apply for a gold loan, all you need is collateral in the form of gold jewelry and then you can avail up to 80% of the value of the gold jewelry as the loan amount. Besides from Banks many Non-Banking Financial Companies (NBFCs) also offer gold loans with shorter loan processing times as well as charge no fees for processing a gold loan. In the following sections, we will discuss four gold loan options you can avail from top leading NBFCs.    

Bajaj Finserv Gold Loan

Bajaj Finserv Gold Loan offers you the flexibility of availing loans till an amount of Rs. 10 lakh, at extremely attractive interest rates and with flexible repayment options for added financial ease. It doesn’t matter whether you are salaried or self-employed; the company opens its door for everyone.

Manappuram Gold Loan

When someone says Manappuram then it automatically holds a link with a Gold Loan. There are only a few renowned names that provide you the best gold loan option with their satisfactory services and Manappuram is one of them. The company charges interest on the duration for which you take the loan and maximum loan sum you can get is one crore. Unless banks haven’t completed the process of evaluation of gold’s value and verification of gold’s purity they don’t sanction the loan. Your loan sum entirely depends on your gold’s current market value. Manappuram Gold Loan is the best platform to get a gold loan

Muthoot Finance Gold Loan

Muthoot Finance resides at the top in the list of Gold Loan providers. If you aren’t getting an any better option for a gold loan, then you can take this option. Muthoot Finance approves and disburses your loan in an extremely short time and with minimal documentation.

India Infoline Finance Limited Gold Loan

India Infoline Finance Limited provides you the gold loan, and you can avail loan sum above 75% of the market value of your pledged gold. Now only gold jewelry of purity similar to 14 Karat or above is taken as collateral by the company.

If you want to save your time by not getting in touch with multiple NBFCs or banks, then directly visit Dialabank.com and get a comparison across all players.

NBFC

Gold Loan Interest Rate

Get The Best Offer

Bajaj Finserv

14.00% - 15.00%

Apply Now

Manappuram Gold Loan

18.00% - 20.00%

Muthoot Finance

16.00% - 17.50%

India Infoline Finance Limited

18.00% - 17.50%