Have a plan to take a gold loan; This is the best time to know the interest charged by these banks
Which Bank is best for gold loan Most banks and non-bank financial institutions offer secured loans called “gold loans”. Banks calculate the loan amount based on the current market value of gold.
Gold price is breaking all time records and today’s price is Rs 49000. While it is a setback for gold jewelery lovers, it is the best time for those planning to buy and pledge gold. Gold loan is one of the popular loans. This is because it is one of the best ways to get a loan when you need cash quickly. Moreover, it is relatively easy to get a gold mortgage loan. It does not require a long documentation process which takes a lot of time. Banks offer customizable tenures and reasonable gold loan interest rates.
Most banks and non-bank financial institutions offer secured loans called “gold loans”. Banks calculate the loan amount based on the current market value of gold. With the help of such a loan, you will get money quickly. Gold loan interest rates vary from bank to bank. There is also a difference in the value of the loan. These are the banks that offer the best gold loan interest rates.
* Kotak Mahindra Bank: Charges interest from 8 percent to 24 percent. A fee of 2 percent of the amount + GST will be charged
* HDFC Bank : 8.50 percent to 17.30 percent interest will be charged. A fee of one percent of the amount will also be charged.
* UCO Bank: 8.50 percent interest, 250 to 5000 processing fee.
* Indian Bank: 8.65 percent to 9 percent interest
* Union Bank 8.65 percent to 9.90 percent
* SBI: 8.70 percent 0.50 percent + GST
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