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 95377 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    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

    • Bank Bazaar Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have been using bank bazaar service from past 1 year, there service is too good, because of bank bazaar i had applied many financial products and there customer service is too good they have explain me about the financial product whatever i have applied they did good co-ordination with me and help me out in choosing good bank , i came to know about bank bazaar service through on line, and i have been using mobile application and the application is very much easy to access.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 14, 2018
    • Early Salary Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my personal loan with EARLY SALARY recently,they have provided me sufficient loan amount on temporary bases they have given me up to 14,000 i expected a bit more but it was okay for me ,and the rate of interest they have charged me up to 30% per annum was nominal for me and processing fee they have charged me up to 150 plus gst was nominal i have took short term loan for 45 days only.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Nov 14, 2018
    • Early Salary Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my personal loan with EARLY SALARY recently,they have provided me sufficient loan amount on temporary bases they have given me up to 14,000 i expected a bit more but it was okay for me ,and the rate of interest they have charged me up to 30% per annum was nominal for me and processing fee they have charged me up to 150 plus gst was nominal i have took short term loan for 45 days only.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 14, 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 with this bank was good,the loan which i expected i got even rate of interest and processing fee is nominal compared to other banks.customer support team is good and they response to me very well.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been use this bank bazaar service just couple of months, the service is excellent , the customer support team are good , i have applied cc from bank bazaar i found good in process, the process went very smooth i couldn't find any difficulty in documentation , i mostly use website only. In short service is good and easy to use.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 14, 2018
    • Incred Personal Loan
      "Good card"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with INCRED bank for recently,they have provided me sufficient loan amount up to 1,50,000 ,and the rate of interest they have charged me was little high for me and processing fee they have charged me was high ,and there was delay in getting my loan they took up to 10-15 days in getting disbursal.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Bank-bazaar service is good i use mob lie application its easy to assess there is no problem in using this app, even customer care service is good they pro actively suggest me for any product which i want, service for documentation is good no problem with their service. I use this app from 1st time
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have been holding my personal loan with ICICI bank recently, the loan amount was sufficient for me, the rate of interest they have charged me was bit high they have charged up to 15.5% and processing fee they have charged me was 4% that is 5000 it was bit high in other bank processing fee is 4000 and there customer service is very co-operative.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2018
    • YES Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with YES BANK. I have a good experience where the documentation process is very good. I am satisfied with the loan amount . The rate of interest is very lower, duration is for 5 years to repay the loan also the processing fee is there.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with ICICI BANK , where i have applied for the loan previously and using it from past few months. I am satisfied with the services of this bank because they done the process very quick . The tenure period is 5year . Rate of interest charged by them is nominal .
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I came to know about this bank bazaar service while i was surfing Google i have applied credit card too in bank bazaar the service is quite good and even customer team is good they help me in applying a credit card from bank and the documentation part is good, i use bank bazaar website, i have been using this bank bazaar service from past 1-2 years.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 14, 2018
    • Cashe Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my personal loan with CASH E recently,they have provided me sufficient loan amount and the rate of interest they have charged me is up to 2.5% which was nominal for me and processing fee they have charged up to 200 it is nominal and there was no issue in documentation,overall service was good.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 14, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have used bank bazaar service for first time, the moment when i had applied instantly i got call from the bank bazaar agent and there customer service is good they had responded me well like i had applied my personal loan through bank bazaar it quite fast process and i came about bank bazaar service through promotional ad that use to get pop up in every site and i have been using mobile application and website both are easy to access.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my personal loan with TATA CAPITAL recently, the loan amount whatever i have expected they have given me it is sufficient and the rate of interest they have charged me is up to 11.2% which is nominal and they have not charged any processing fee and there was 1 day delay in getting my loan issue but it was okay.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using bank bazaar service a month ago only,the service went very smoothly i had applied credit card from this website of bank bazaar and i have been using mobile application its easy to access , even customer support team is good they are very co-operative in nature.i came to know about this application through online.overall service is excellent.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with ICICI bank recently, the loan amount they have given me was sufficient it was more than my expectation they have given me and the rate of interest they have charged me up to 18% it is quite high and they processing fee they have charge me up to 9000 it is nominal and documentation part went smoothly, till now service was good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with HDFC personal loan , there service is too good like they dont force me to take loan insurance they use to call and ask that you need insurance but never had forced me and the rate of interest they have given me was up to 15% it was nominal and loan amount they have given me was sufficient.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I have been using bank bazaar service for first time, and i came to know about bank bazaar service through call the bank bazaar agent always call me and i have applied my loan through bank bazaar and i have been downloaded mobile application it was easy to access.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2018
    • ICICI Bank Personal Loan
      "Average service"
      0.5 5.0/5 "Blown Away!"
      I have been applied for ICICI bank personal loan recently, the loan amount which they have given me was sufficient they have given me up to 1,32,000 and the rate of interest they have charged me was up to 15.75% it is too high and there processing fee they have charged me was nominal but they had forcefully ask me to take insurance from this bank loan i need to give 4000 like my loan amount was approved up to 1,40,000 they deduct 4000 as insurance even in documentation part i had face lot of problem.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using the Bank Bazaar website for a while. The customer everything was great, I am using the website, easy to use. Overall there wasn't any issues with the Bank Bazaar side. Bank Bazaar is a flexible platform to compare and choose various banking products on line.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 14, 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.