Best NBFCs for Gold Loan

Best NBFCs for Gold Loan

When hours of emergency hit you, at that time Gold Loan acts as your savior. If you are in the state of a bad situation then you can go for these three options- loan against property, gold loan, and personal loan. Some of the best NBFCs for Gold Loans are mentioned in this article.

The first two options belong to the category of the secure loan whereas the personal loan is one of the unsecured loan types. If you don’t want to face the botheration of lengthy procedure or paperwork then Gold Loan is the best option for you.

The procedure is really simple, all you need is collateral in the form of gold jewelry or ornaments (keep in mind only banks accept coins) and you can get more than 75% loan.

Your loan sum depends on the current market value of your gold. You can get a gold loan from various NBFCs as well. Here are some best NBFCs for Gold Loan are:

Bajaj Finserv

Bajaj Finserv Gold Loan offers you the flexibility of availing loans to 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 Finance Limited

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 the 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.

Muthoot Finance

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

India Infoline Finance Limited provides you with a gold loan, and you can avail of a 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.

Above all mentioned are Best NBFCs for Gold Loan provides instant approval on Gold loan With minimum documentation.

Bank Interest Rates Processing Fee Loan Tenure (months) Loan Amount
Bajaj Finance 14%-26% 1.90% 6-36

Rs.15k-Rs.15Lakh

Manappuram 19.00%-26.00% 1.60% 1-24 Rs.10k-Rs.1 Cr
Muthoot Finance 12.00%-24.00% 1.85% 3-24 Rs.15k-Rs.1Cr
IIFL 12.00%-14.00% 1.90% 3-24

Rs.10k-Rs. 15 Lakh

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