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Top Banks Gold Loan Lowest Interest Rate Starting at 10.5% p.a. as on 17 Apr 2021

Top Bank Gold Loan Interest Rate (updated on 17 Apr 2021)

BankInterest RateTenureExplore
Yes BankPlease contact bank branchMaximum 36 months Explore
Laxmi Vilas Bank10.05%Maximum 12 months Explore
Syndicate Bank10.25%Maximum 12 months Explore
Central Bank Of India10.40%Maximum 12 months Explore
Kotak Mahindra Bank Limited10.5% to17%Maximum 30 months Explore
Andhra Bank10.50%Maximum 12 months Explore
State Bank Of India10.55%Maximum 36 months Explore
Bharatiya Mahila Bank Limited10.55%Maximum 36 months Explore
State Bank Of Mysore10.55%Maximum 36 months Explore
State Bank Of Hyderabad10.55%Maximum 36 months Explore
State Bank Of Patiala10.55%Maximum 36 months Explore
State Bank Of Travancore10.55%Maximum 36 months Explore
State Bank Of Bikaner And Jaipur10.55%Maximum 36 months Explore
Uco Bank10.60% to 11.75%Maximum 60 months Explore
South Indian Bank10.75%Maximum 36 months Explore
Dcb Bank Limited10.80% to 18%Maximum 30 months Explore
Punjab National Bank10.95%Maximum 12 months Explore
Indusind Bank11.15% to 15.75%Maximum 12 months Explore
Oriental Bank Of Commerce11.20% to 11.70%Maximum 12 months Explore
Allahabad Bank11.20% to 12.85%Maximum 60 months Explore
Vijaya Bank11.25%Maximum 30 months Explore
Dhanalakshmi Bank11.40% to 11.50%Maximum 12 months Explore
United Bank Of India11.50% Maximum 12 months Explore
Bank Of Maharashtra11.50% to 11.75%Maximum 12 months Explore
Indian Bank11.70% to 12.20%Maximum 12 months Explore

Gold Loan

A gold loan in India is a secured loan which is offered against collateral of gold | gold ornaments. Under such loan, the borrower has to pledge his/her gold | gold ornaments with the bank who lends the funds as gold loan. Gold loans can be a good source of short term cash in case of emergency. Gold Loan is available at lower interest rate than personal loan. The gold loan interest rates offered by banks is around 12% to 15% as on 17 Apr 2021 whereas the personal loan rates are in the range from 15% to 24% as on 17 Apr 2021

A Gold loan in India is offered by several banks at a lower interest rate starting at 12% to 15% as on 17 Apr 2021 These loans allow you to repay them in maximum of 1 Years. Banks offer the best Home loan schemes and you can repay the loan through easy EMIs.

While opting for gold loan check the interest rates in various banks and select the best offered rate out of them.

Benefit of Gold Loan

  1. You need not submit any income proof for taking gold loan as it is given against physical security of your gold | gold ornaments. Most of the banks do not ask you any income proof, still some banks may need some documentary income proof.
  2. Minimal documentation is required, in most of the cases, only identity proof and address proof is enough.
  3. Gold Loan is available at lower interest rate than personal loan. The gold loan interest rates offered by banks is around 10.5% as on 17 Apr 2021 whereas the personal loan rates are in the range from 10.5% to 14.75% as on 17 Apr 2021
  4. Fast processing and approval. Whole process does not take more than 15 minutes in many banks. You have to just deposit gold, sign required documents and receive your loan amount.
  5. Processing fee is nil or very negligible. Even if there is some processing fee, if you negotiate, it can be waived off easily.
  6. You can repay the loan and close your loan account anytime.
  7. Guarantor is not required.