Modern Bharat
Gold Loan: It is easy to take a loan by pledging gold in the bank, see here the interest is less than 8%

Gold Loan: It is easy to take a loan by pledging gold in the bank, see here the interest is less than 8%

Gold Loan Bank Interest Rate : If you need money, and you have sufficient amount of gold. In such a situation, we are going to tell you that by pledging the gold kept with you in the bank, you can take the loan of your need. Now it has become quite easy to do so. Now you must be thinking that how much gold loan will you get, then you should understand that this amount depends on the market value and purity of your gold.

need enough sleep
Let me tell you that if you are employed, or a businessman. Anyone can apply for a Gold Loan. He also needs to have enough gold to mortgage it. For gold loan, much less paperwork has to be done in the bank as compared to the rest of the loan. You get a gold loan within a few hours.

Gold gives your security
Your gold gives security, that is why the bank gives you a gold loan at low interest. Because of which banks issue loans to the borrowers at higher interest rates. If you need money now and you have gold jewelery then you can mortgage it. In such a situation, the lending bank or lending company is ready to give a loan based on the market value and quality of your gold jewellery.

Loan can be given through EMI
Gold loan amount can be repaid through EMIs. In some cases, banks have the option of making a lump sum payment over a specified period of time to repay the gold loan. The repayment time of gold loan can be between 1 to 5 years. The policy of each bank or company may be different in this regard.

Banks Interest Rate (%) EMI (Rupee)
Central Bank 7.10 22,409
IOB 7.40 22,477
SBI 8.00 22,614
Indian Bank 8.25 22,671
UCO Bank 8.40 22,705
Pubjab & Sind 8.40 22,705
Federal Bank 8.49 22,726
PNB Bank 8.65 22,762
Canara Bank 8.65 22,762
Union Bank 8.75 22,785
BOI Bank 8.90 22,819
Axis Bank 17.00 24,721
ICICI Bank 11.00 23304
Bank of Baroda 10.45 23,176

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