Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Loading your search...
    Close

    Compare, check your eligibility and apply online instantly.

  • Gold Loan Interest rates is Rated as "Great!" by 94195 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN
    rated 4.0/5.0 by 94195 users

    Gold Loan Interest rates

    What is a Gold Loan?

    Gold loan is a new and emerging concept in the banking industry. There are a lot of people who own gold jewellery or ornaments which are lying idle at home or in the bank vault. A gold loan basically helps you unlock the value of these precious metals by allowing you to avail a loan against them. The process of availing a gold loan is rather simple. You can approach any bank or non-banking company which provides a gold loan with your ornaments. The bank or lender will carry out a valuation of the ornaments and check them for purity, weight, etc. In some cases, you might also be required to show proof of your ownership of the gold ornaments being pledged by you. Once the ornaments have been verified, the loan amount will be sanctioned to you. Also, like any other type of loan, banks or lenders will only give you a loan which is up to 80% of the loan value.

    Perfect Personal Loan Deals for you

    A gold loan or loan against gold could be compared to a personal loan, but usually does not carry any end-use restrictions. Also, the interest rates on loans against gold are comparatively lower than other types of loans. Gold loans are usually taken for shorter periods to fulfill immediate upcoming requirements like paying for a child’s education, planning a wedding, taking care of a medical emergency, etc. In India, there are many nationalized banks, private banks, public sector banks and other non-banking finance organizations which provide loans against gold at attractive rates.

    Advantages of a Gold Loan

    • Available To A Larger Number Of People – To avail a gold loan, applicants are usually not required to furnish any documentation like salary slips, certificates, credit history, bank statements, etc. Due to this reason, even non-working or unemployed individuals can apply and avail a loan against gold. Some banks or lenders may however require gold loan applicants to furnish a proof of ownership of the gold ornaments which they’re pledging.
    • No Extensive Documentation Required – Unlike other types of unsecured loans, a loan against gold does not require you to furnish extensive documentation for application. You will only be asked to provide basic documents for proof of identity and proof of residence to avail a gold loan.
    • Comparatively Lower Interest Rates – One of the most important advantages of a gold loan is the lower interest rate it is available at. While other types of loans like personal loans are normally available at interest rates ranging between 15% to 26%, a loan taken against gold, i=on the other hand, can be availed at a significantly lower interest rate ranging between 12% to 16%.
    • Simpler Alternative To A Personal Loan – A loan against gold or a gold loan is a fairly simpler alternative to taking a personal loan, especially in terms of documentation. For a gold loan, you only need to take your gold jewellery to the bank or lender, where it will be verified and valued, before the loan amount is sanctioned to you. With a gold loan, you can expect to get a loan amount which could be as high as up to 80% of the market value of the gold.
    • Repayment Options – Banks and lenders usually provide flexible repayments terms for loans taken against gold. Borrower will be given an option to pay only interest during the entire term and at the end of the tenure you can pay complete borrowed amount in single shot.
    • Quick Loan Processing & Loan Disbursal – Unlike other types of loans which usually have longer waiting periods between loan application and loan disbursal, loans against gold have a comparatively lesser wait period. In most cases, banks and lenders will approve and disburse the loan within a few hours or sooner, once the gold ornaments have been verified and undergone valuation for weight and purity. If you are looking to get a loan in the minimum possible time, a gold loan may be your best bet.
    Apply for Personal Loan

    What are the Banks Offering Gold Loans

    In India, there are many banks and non-banking companies which offer customers loans against gold. Most banks and lenders also offer multiple gold loan schemes to allow customers to avail gold loans as per their requirements. Some of the top banks which provide loans against gold are listed as follows:

    1. ICICI Bank – Provides gold loans under the EMI Scheme at an interest rate ranging between 12 % to 16.50%.
    2. State Bank of India – The nation’s largest public sector bank provides loans against gold at 2.50% above the base rate of 9.85%. The current rate of interest for loans against gold ornaments (demand loan) is 12.50%.
    3. Axis Bank – Provides loans against gold under the EMI Scheme and the Bullet Repayment Scheme. The bank provides loans against gold at interest rates between 14.50% up to 17 %.
    4. Muthoot Finance – One of the very first companies to introduce the facility of gold loans in India, Muthoot Finance provides multiple gold loan schemes with differing rates of interest and tenures. The interest rates for the various gold loan schemes range from between 12% and up to 24%, for loans featuring different time periods.
    5. Punjab National Bank – Provides gold loans under the Bullet Repayment Scheme, EMI Scheme and the Overdraft Scheme. The interest rates for this loan range between 11.10% to 12.10%.
    6. Manappuram Finance Limited – One of India’s highest credit rated companies, Manappuram Finance also offers customers a variety of gold loan schemes like the EMI scheme and Bullet Repayment Scheme. Interest rates for Manappuram Gold loans range between 12.00% to 26.00%.
    7. IndusInd Bank – Provides gold loans against gold at interest rates ranging between 13.50% to 15.50%.
    8. Canara Bank – Canara Bank offers the Swarna Loan (loan against gold) to its customers under the Bullet Repayment Scheme at 3.10% above the base rate of 9.65%. The applicable interest rate is 12.75%.
    9. HDFC Bank – Offers the Sampoorna Bharosa gold loan, a highly affordable gold loan which can be availed at any HDFC bank branch. This gold loan comes with very convenient terms and is offered at an interest rate ranging between 6.70% to 15.65%.
    10. Federal Bank – Offers two different types of gold loans under the Overdraft Scheme and the Bullet Repayment scheme. The interest rates applicable on these gold loans range between 13.00% to 13.50%.

    Gold Loan Interest rates

    Bank Name Gold Loan Interest Rates
    ICICI Bank 12 % to 16.50 %
    State Bank of India 12.50 %
    Muthoot Finance Limited 12 % to 24 %
    Axis Bank 14.50 % to 17 %
    Punjab National Bank 11.10 % to 12.10 %
    Manappuram Finance Limited 12 % to 26 %
    IndusInd Bank 13.50 % to 15.50 %
    Canara Bank 12.75 %
    HDFC Bank 6.70 % to 15.65 %
    Federal Bank 13 % to 13.50 %

    Gold Loan Calculator

    With the host of features and advantages they have over other types of loans, loans against gold can be an ideal alternative to finance your needs. Gold loans can help you obtain easy finance to take care of needs like child’s tuition fee, emergency medical need, and down payment for a vehicle or house, financing a wedding or any other immediate need. Also, applying and getting a loan against gold is far simpler as compared to other kinds of loans which require extensive documentation.

    Gold loans can provide you with loan amounts as high as 80% of the value of the gold. However, if you wish to find out how much you’re gold loan may cost you, a gold loan EMI calculator can help you in this regard. With this tool, you can easily get the amount you will be required to pay each month towards your gold loan. This way you can compare gold loans being offered by various banks and lenders before arriving at a decision. A gold loan EMI calculator is fairly simple to use. a standard gold loan EMI calculator will ask you to input details like the amount of loan you wish to take, the rate of interest applicable on the loan, the duration for which you wish to take the loan and the number of EMIs you wish to pay off the loan in. Once all this information has been input, the calculator will automatically display the amount of EMI which you will have to pay for the duration of the loan, in order to repay it fully.

    Gold Loan Interest rates Reviews

    • YES Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with YES Bank. It has not been a up to the mark experience. A average process as the documentation was not taken on time and the rate of interest and processing charges is also not satisfactory. They need to improve on that.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 22, 2018
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken my personal loan was taken with HDFC Bank 2.5 years back. The loan amount was 1 lakh.The interest rate was quite satisfactory and the tenure period was 2 years .I am happy with the service and responses . There is no inconvenience faced and the pre closure is after 2 years .
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 21, 2018
    • HDFC Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with HDFC Bank and the process of documentation process was very good. I got the loan on time and the rate of interest and processing charges is nominal and in all there are no issues to get the loan. A smooth process in all.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 21, 2018
    • ICICI Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      My personal loan was taken with ICICI bank 1 year back. I have taken 2.8 lakhs and the interest rate was very high . The tenure period was 4 years but i did pre closure . The chargers re very high for pre closuring the loan here but i had a smooth loan process . The documentation was quite smooth and hassle free.
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 20, 2018
    • HDFC Bank Personal Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      I have taken my personal loan with HDFC bank 1 year ba4ck. The loan amount was 4,25,000 and the interest rate was average The tenure period was 2 years . I had a good satisfactory experience . They have sanctioned the loan with the committed time also. There are no difficulties faced .
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 20, 2018
    • ICICI Bank Personal Loan
      "Process is nice"
      0.5 5.0/5 "Blown Away!"
      ICICI Bank has also offered me a personal loan. The customer services and response is good and there are no hassles in the process. They also offered me a good rate of interest and the processing charges are nominal too. The after loan services are good too.
      Was this review helpful? 2
      , jaipur
      Reviewed on Sep 20, 2018
    • Capital First Personal Loan
      "Hassle free process"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with Capital first. The customer services and response is good. The process to get the loan is good and the rate of interest and processing charges is normal too. The after loan services are also satisfactory. Good overall.
      Was this review helpful? 3
      , greater noida
      Reviewed on Sep 20, 2018
    • HDFC Bank Personal Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with HDFC bank 1 year back. I have taken 2.5 lakhs and the interest rate was satisfactory . I am happy with the customer service and responses. There is no inconvenience faced and the process was completely hassle free.
      Was this review helpful? 4
      , chennai
      Reviewed on Sep 20, 2018
    • Citibank Personal Loan
      "Satisfactory"
      0.5 3.5/5 "Pretty good"
      My personal loan was taken with CITI bank 4 months back. The loan amount was 1,20,000 and the interest rate was very high . The customer service and responses was good. I have faced some difficult and they even detected some amount also. The processing fee was nominal.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 20, 2018
    • ICICI Bank Personal Loan
      "Very bad experience and still sufferring"
      0.5 0.5/5 "Unacceptable"
      Took BT and top up loan from icici in July 2018 but received DD for balance transfer in third week of August. When submitted the DD to the other bank it got rejected as authorised signature is missing on it. The sales manager is not answering my call. I have already raised the complaint with customer care after which I received the DD.
      Was this review helpful? 4
      , bangalore
      Reviewed on Sep 19, 2018
    • HDFC Bank Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      My jumbo loan was taken with HDFC BANK , the tenure period is 2year . They charge 15% of interest rate and it is too high. There is no processing fee with this bank and the best part they gave preclosere option . The service and process was good and smooth with this bank .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 19, 2018
    • Bank Bazaar Personal Loan
      "Normal Service"
      0.5 4.0/5 "Great!"
      I've been using the BankBazaar platform for a while. I have applied for a short term loan via BankBazaar. It was good, customer support support was good. BankBazaar is a convenient platform for comparing and choosing various financial products online.
      Was this review helpful? 2
      , faridabad
      Reviewed on Sep 19, 2018
    • Cashe Personal Loan
      "Awesome Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a short term loan from the CashE. It was awesome, I got the loan on the same day with in hours. It was a very good experience and they processed the application very quick. It is a very good service for emergency financial aid.
      Was this review helpful? 2
      , faridabad
      Reviewed on Sep 19, 2018
    • HDFC Bank Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      My jumbo loan was taken with HDFC BANK , their tenure period is 4year . The best part is processing fee is free with this bank and rate of interest is 1.3% which is nominal in the market . There is option preclosere with 3% on principal amount . Overall it is good to have HDFC BANK.
      Was this review helpful? 3
      , pune
      Reviewed on Sep 19, 2018
    • Aditya Birla Finance Personal Loan
      "Very Bad Experience with ABFL"
      0.5 0.5/5 "Unacceptable"
      1. Fake commitment of 30 min. disb. 2. Irritate by sending lots of sms and emails of remainder. 3. Breaks privacy by sending bank details in sms and email. 4. No reply from customer care email. 5. After regular payment we will get an overdue emi sms.
      Was this review helpful? 2
      , pune
      Reviewed on Sep 19, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with SBI and my loan experience was very good. The process was smooth and i received my loan amount on time. Customer service is good and they responded on time. The tenure period for this personal loan is 5 years.
      Was this review helpful? 3
      , secunderabad
      Reviewed on Sep 19, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with HDFC bank and my experience was good, the loan amount was for Rs 1 lacs with nominal interest rate of 11.5%. Customer service was good with this bank and they followed up on time and the tenure period for this loan is 2 years.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Sep 19, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with this personal loan and the loan amount which they had provided also had been satisfactory as well. The interest rate with them has been nominal when compared with the market rate. Their customer support also had been responsive where they had been helpful at times.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 19, 2018
    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with Bank Bazaar and i had been using it for checking about the credit scores and the interest rate as well. I had been using the website of them and it has been easy in using it. Their customer support also had been responsive where there has been good follow up during the process of my personal loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 19, 2018
    • ICICI Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since one of my friend had suggested me about them. The process in getting this loan has been smooth and easy and the loan amount which they had provided also had been satisfactory. The interest rate with them has been nominal when compared with the market rate. Their customer support with them also had been responsive.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 19, 2018
    Common Loader Icon

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.