Gold Loan: Banks with best interest rates on Gold Loan | How much low interest?.

Gold Loan: Banks with best interest rates on Gold Loan | How much low interest?.

If you want to take a loan against the gold kept in your house, then today we are telling you which banks are giving loans at low interest rates. In such a situation, you can guess which bank can prove to be a good option for you.

Gold Loan.

If you want to take a loan against the gold kept in your house, then today we are telling you which banks are giving loans at low interest rates. In such a situation, you can guess which bank can prove to be a good option for you.

It is believed that a gold loan is better in many ways than a personal loan. Actually, in this loan, people have to pay less interest and at the same time there are many benefits in its repayment. If you have gold in your house then you can opt for gold loan. But, often there is a question in the mind of people that which bank should be selected for gold loan.

In such a situation, today we are telling you which bank can be beneficial for you. Today we are telling you on the basis of the rate of interest charged by the bank, which bank can prove to be a good option for you. Also, know some special facts related to gold loan which show how gold loan is better.

Gold loan interest rates.

According to a report by Money9, you can get a gold loan from banks at least 7% per annum as compared to the double digit interest rate on personal loans in most cases. At the same time, based on the facts given on the website of the bank market, it is known that Punjab and Sind Bank is giving gold loan at 7%, followed by Bank of India at 7.30% and Canara Bank at 7.35%.

If we talk about other banks, then Indian Bank, UCO Bank and Federal Bank are charging the highest interest rate at 8.50% in the top-9 banks. In such a situation, you can get an idea which bank can be a good option for you and also you can compare it on the basis of personal loan rate. Explain that a gold loan is a type of secured loan and due to this the rate of interest is very low and it can be much cheaper than a personal loan. Actually, if your gold remains with them in this, then the bank does not have the tension of money.

How much loan can I take?

In Gold Loan, you can take loan from 10 thousand to 1 crore according to your gold. In this, you can get a loan of 75 percent of your gold. In this, the loan amount is calculated on the basis of 22 carat gold. If there is less carat gold, then the loan amount is decided accordingly. For example, suppose you have gold worth 1 lakh rupees, then you can take a loan of up to 75 thousand rupees.

What are the other advantages?.

If we talk about gold loan, then there are many repayment options available in it. In this, you can pay only the interest or you can pay it back anytime when you have money. Apart from this, you do not need to do much paperwork in this loan.

Gold Loan: Banks with best interest rates on Gold Loan |   How much low interest?.
Gold Loan: Banks with best interest rates on Gold Loan | How much low interest?.

If you want to take a loan against the gold kept in your house, then today we are telling you which banks are giving loans at low interest rates. In such a situation, you can guess which bank can prove to be a good option for you.