Gold Loan Interest Rate 2024

Gold Loan Interest Rate 2024- Check Out Best Rate

A gold loan is a secured loan that is available 8.70% to 28% per annum. Taking a gold loan is quicker and instant fund transfer within 48 hours. Banks and NBFCs provide gold loans with minimum paperwork. The borrower obtains a gold loan from Rs. 3,000 to Rs. 1.5 crore.

Gold Loan Quick Recap

Loan AvailableRs. 3,000 to Rs. 1.5 crore
Rate of Interest8.70% to 28% p.a.
Repayment3 months to 48 months
Income ProofNIL
Processing ChargeUp to 1% + GST

What are the Features of Gold Loan?

Gold loan has some features that are given below points:

  • Gold loan is a speedy approval process that is usually available within 24 hours.
  • The paperwork process is minimal with easy documentation.
  • Pay interest rate only if you are unable to pay the principal amount.
  • Low credit score customers may take gold loans without any variation.

Also Read: Repeek Instant Gold Loan

Compare Gold Loan Interest Rate 2024

BanksInterest Rate
State Bank of India8.70% – 9.80% p.a.
HDFC Bank11% – 16% p.a.
ICICI Bank10% p.a. onwards
Axis Bank17% p.a. onwards
IIFL Gold Loan11.88%  – 27% p.a.
IDBI Bank9.95% onwards
Punjab National Bank9.25% onwards
Bank of India9.25% onwards
Syndicate Bank10.1% onwards
Allahabad Bank9.20% onwards
Andhra Bank10.80% onwards
Bajaj Finserv12.99% onwards
Bank of Baroda9.15% onwards
Bank of India9.35% onwards
Bank of Maharashtra9.30% onwards
Central Bank8.45% onwards
Citibank9.99% onwards
Federal Bank11.49% onwards
Fullerton India11.99% onwards
HSBC Bank10.50% onwards
IDFC First10.75% onwards
Indiabulls13.99% onwards
Indian Bank9.20% onwards
Indian Overseas Bank10.30% onwards
IndusInd Bank11% onwards
Kotak Mahindra Bank10.75 onwards
Muthoot Finance15% onwards
Punjab National Bank8.95% onwards
RBL Bank14% onwards
TATA Capital10.99% onwards
UCO Bank9.75% onwards
Union Bank of India8.90% onwards
Yes Bank10.75% onwards
Central Bank of India7.25% p.a.
J&K Bank9.50%-10% p.a.
Canara BankUp to 7.25% p.a.
Kotak Mahindra Bank10.50%-17% p.a.
Bandhan Bank10.99%-18% p.a.
Punjab and Sind BankMax-10.50% p.a.
Indusland Bank11.25%-15.50% p.a.
Muthoot Finance12%-27% p.a.
YES Bank12% p.a.
Jana Small Finance Bank14% p.a.
Manappuram Finance14%-29% p.a.
City Union Bank14.25% p.a.
Fincare Small Finance bank14.99%-22.99% p.a.
AU Small Finance BankUp to 18% p.a.

How to Calculate Gold Loan Interest

Use the 24hr Loan’s Gold Loan EMI Calculator to compare or calculate gold loan interest. The calculator will show you the details of the monthly repayment amount.

How to Use:

  • Provide Loan Amount
  • Enter Interest Rate
  • Give Loan Tenure in months

Hit the Calculate button to see the final result of the gold loan calculator.

FAQs on Gold Loan Interest Rate

Who is eligible for a gold loan?

Individuals with Indian citizenship holder eligible for gold loans at 21 to 60 years of age. You should have pure gold to take the gold loan and KYC proof documents.

What is the interest rate of an SBI gold loan?

State Bank of India provides gold loans at 8.70% to 9.80% p.a.

What is the rate of interest on the Rs. 50,000 gold loan?

Gold loan interest rates vary on lenders. Moreover, gold loan interest is 8.70% to 28% per annum.

What is the gold loan interest of HDFC Bank?

HDFC Bank offers gold loan interest rates at 11% to 16% p.a.

What is the gold loan interest taken by IIFL?

IIFL is a popular NBFC company that is taking gold loan interest at 11.88% to 27% p.a.

Leave a Comment

Your email address will not be published. Required fields are marked *