The time to buy gold may be behind us, but the value of the yellow resource goes beyond its glamorous and decorative value. It would be helpful to get emergency funding at times like a crisis similar to the one the country has seen in the past eight months. Surprisingly, the demand for gold loans has grown over time by COVID. Interest rates, in line with the low-interest rates in the system, have made it easier for lenders to mortgage their gold to get money. The cheapest gold loan that can be offered today comes from Punjab & Sind Bank, which charges only 7 percent per year for a loan of Rs 5 lakh and three years, The public sector bank - Bank of India (BOI) - which offers interest rates of 7.35 percent. Gold loans from the largest bank in the State Bank of India (SBI) will carry interest rates of 7.5 percent per annum. The interest rate on gold loans to all public (BSE) public, private banks, and selected NBFCs is considered for data collection. Banks data not available on their website, are not considered. Information collected on the relevant banking websites on November 19, 2020. Banks are listed on interest rates which means that the bank / NBFC that offers the lowest interest rate on gold loans (with various loan rates) is placed at the highest and highest level. The lowest prices offered by banks / NBFCs are considered in the table. EMI is calculated on the basis of the interest rates quoted in the Rs 5-lakh loan over a period of three years (processing and other payments are considered zero in the EMI calculation). Non-bank financial institutions (NBFCs), which are aggressive in this regard, offer gold loans at very high rates.