Finance sanctioned against gold is known as Gold Loan. It is one of the safest loans available in the market. Therefore, If you are going through a financial crisis and need immediate funds, then you should avail the option of Gold Loan. This is a service that requires minimum documentation and the process is very quick. Furthermore, gold loan provides you up to 75% funding of the value of your gold ornaments. Which you can use to fulfill your personal needs like business expansion, wedding, medical purposes, education purpose or any other. Finally, Gold Loan Interest Rate is also very low and reasonable in contrast to other services like personal loan, home loan or any other. Thus, overcome all your financial instabilities with the help of the service of Gold Loan.
Popular Services of Gold Loan
HDFC Sampoorna Bharosa Gold Loan
HDFC is a company that was established in the year 1994. Since then, this company has been satisfying their customers through all their financial products. Therefore, HDFC Gold Loan is one of the best options when it comes to Gold Loan. Moreover, this company is having a wide network, that is anybody who wants to avail a gold can easily get through a nearby branch.
- Min/Max Loan Amount- The loan amount ranges from Rupees 25,000 to 1 Crore. Generally, a person can avail a Gold Loan up to 75% value of the Gold Ornaments.
- Interest Rate- Gold Loan Interest Rate is very low and reasonable in contrast to other services. The Gold Loan Rate starts at 10.25%.
- Processing Fees- HDFC charges a very less amount for application of Gold Loan that is around 1.5%.
- Additional Charges- Prepayment/Late Payment Charges are Up to 2%.
Manappuram Finance Gold Loan
Mannupuram Gold Loan is one of the fastest growing company when it comes to Gold Loan. This nonbanking institution was founded in 1949. It is a company that provides Gold Loan to the customers with the best offers. Also, it has made its market in 28 Indian States with around 4206 Branches. Therefore, Mannapuram is a great option in order to avail a Gold Loan.
- Min/Max Loan Amount– The applicant can avail loan from Rupees 18,000 to 1.5 Crores.
- Interest Rate- The rate of interest Starts at 12% annually.
- Processing Fees- The application cost of Gold Loan is charged Up to Rupees 200.
- No Prepayment penalty- Manappuram does not charge anything if you decide to close the loan before time.
Muthoot Finance Gold Loan
Muthoot Finance is one of the top nonbanking institutions when it comes to Gold Loan. If you are not getting a Gold Loan from a bank, you can easily avail the service of Gold Loan from Muthoot Finance. Gold Loan from this lending institution is approved easily and in very less time.
- Min/Max Loan Amount – Muthoot Gold Loan allows the people to avail an amount as less as 15,000 Rupees and maximum amount can go up to 1 Crore.
- Interest Rate- TheGold Loan Interest Rate is quite less in contrast to other nonbanking institutions. It starts at 11% per annum.
- Processing Fees- The charges of processing an application is quite reasonable, it lies between 0.5-1% of the loan amount.
- No Prepayment penalty- Muthoot Finance does not charge anything if you decide foreclosure of the loan.
SBI Gold Loan
State Bank of India, is a public bank that was founded in 1955. The headquarters of this bank is in Mumbai. The service of Gold Loan is also provided to the customers by SBI. SBI provides Gold Loan per Gram of the amount nearly 1800 Rupees. That further accounts of Rupees 18,000 per 10 gram. So, if you have gold with a purity ranging between 18 Carat to 22 Carat and a minimum of 10 grams of gold then, you can easily avail a gold loan. Therefore, easily avail a gold loan through SBI and overcome all your money-related issues.
- Min/Max Loan Amount- The amount of Gold Loan can vary from Rupees 20,000 to Rupees 20 Lakhs.
- Interest Rate- The Interest Rate starts at 1o.25%.
- Processing Fees – The Processing charges are generally Rupees 500. But it can vary according to the loan amount
- No Prepayment penalty: There are not foreclosure charges in SBI