Gold Loan Interest Rate All Bank: If you are going to take a gold loan from any bank, then first of all it is necessary to have proper knowledge about the interest rate of that loan. In this article, we will provide you information about gold loan interest rates of all banks and financial companies.
When we take a loan by pledging our gold, then it is a Gold Loan. There are many banks and financial institutions which are providing gold loan to the customers at attractive interest rates.
You can find the cheapest gold loan by comparing between gold loan interest rates of various lenders. Customers with a good CIBIL score can take advantage of the bank’s attractive interest rates.
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Gold loan is a secured loan. That is, to take this loan, you have to give collateral or security to the lender. In gold loan you have to pledge your gold.
You can take a gold loan to meet your various needs such as wedding expenses, medical emergency, education, travel, home renovation, etc.
You can also meet your needs by joining a personal loan, but the interest rate of a personal loan is higher than that of a gold loan.
You can apply for gold loan both online and offline. You can get the cheapest gold loan by comparing the interest rate of gold loan of various banks.
HIGHLIGHTS:
| loan name | gold loan interest rate 2022 |
| lender | Banks and NBFCs |
| loan amount | Different in different banks and NBFCs |
| Rate of interest | Different in different banks and NBFCs |
| application mode | online / offline |
Gold Loan Interest Rate All Bank 2022
The loan interest rate depends on several factors such as purity of gold, valuation, credit score of the applicant, credit history of the applicant, age, place of residence, employment status, income etc. If you fulfill all the conditions of the bank, then you can get a loan at a low interest rate.
Gold loan interest rate can change from time to time, so you can contact your bank for latest information. You should compare all gold loan interest rates with the help of gold loan interest rate calculator.
Below is the information about gold loan interest rates of all banks and financial companies, which you can see:
| lender | Interest rate (per annum) |
|---|---|
| SBI bank | Starting from 8.30% |
| Kotak Mahindra | starting from 8% |
| HDFC | Starting from 7.60% |
| Muthoot | starting at 12% |
| pnb | Starting from 7.70% |
| Axis Bank | Starting from 13.50% |
| Canara Bank | Starting from 7.35% |
| Bank of Maharashtra | Starting at 7.10% |
| IndusInd Bank | Starting from 11.50% |
| Bank of Baroda | Starting at 9.00% |
| Manappuram | up to 29% |
How to get the cheapest Gold Loan?
- CIBIL Score: Any bank or financial company checks the credit score of the customer before giving gold loan. If your credit score is very good, then you can take advantage of the bank’s attractive interest rates.
- Loan Amount: The loan amount of your loan can affect your interest rate. If the loan amount is high then you may have to pay a higher interest rate.
- Gold Purity and Weight: Any bank or financial company provides loan to the customer on the basis of market value, purity etc. of his gold. Banks usually accept gold of 18 carats or more. If the market value of the gold you hold is high, you will get less Gold Loan Interest Rate But loan can be availed.
- revenue: Most of the lenders will not ask for any income proof from you as gold loan comes under the category of secured loan. But if you have a steady income and have a good job then banks would love to give you a loan.
- Relationship with Bank: If you have a good relationship with the bank from which you are taking the loan, then you can get the loan at the lowest interest rate (Lowest Interest Rate for Gold loan).
Documents to apply for gold loan
- proof of identification
- Proof of residence
- Passport
- driving license
- Voter ID Card
- Aadhar card
- pan card
- passport size photo
- Agriculture Allied Business Documentation
conclusion
In this article we have given you Gold Loan Interest Rate All Bank Complete information about has been provided. Before applying for Gold Loan of any lender, you must know about its Gold Loan Interest Rate so that you do not face any kind of problem at the time of loan repayment.
For more information on Gold Loan Interest Rate, you can also visit the official website of the lender or write to us in the comments.
Friends, we keep updating this article from time to time, so do visit this article once to see the new rate.
FAQ:
The rate of interest is different in different banks and financial institutions.
Ans. You have to apply to take a gold loan. You can apply for it both online and offline.
Kisan Gold Loan Scheme is being run by many banks under which you can get discount.
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