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 Available | Rs. 3,000 to Rs. 1.5 crore |
| Rate of Interest | 8.70% to 28% p.a. |
| Repayment | 3 months to 48 months |
| Income Proof | NIL |
| Processing Charge | Up 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
| Banks | Interest Rate |
| State Bank of India | 8.70% – 9.80% p.a. |
| HDFC Bank | 11% – 16% p.a. |
| ICICI Bank | 10% p.a. onwards |
| Axis Bank | 17% p.a. onwards |
| IIFL Gold Loan | 11.88% – 27% p.a. |
| IDBI Bank | 9.95% onwards |
| Punjab National Bank | 9.25% onwards |
| Bank of India | 9.25% onwards |
| Syndicate Bank | 10.1% onwards |
| Allahabad Bank | 9.20% onwards |
| Andhra Bank | 10.80% onwards |
| Bajaj Finserv | 12.99% onwards |
| Bank of Baroda | 9.15% onwards |
| Bank of India | 9.35% onwards |
| Bank of Maharashtra | 9.30% onwards |
| Central Bank | 8.45% onwards |
| Citibank | 9.99% onwards |
| Federal Bank | 11.49% onwards |
| Fullerton India | 11.99% onwards |
| HSBC Bank | 10.50% onwards |
| IDFC First | 10.75% onwards |
| Indiabulls | 13.99% onwards |
| Indian Bank | 9.20% onwards |
| Indian Overseas Bank | 10.30% onwards |
| IndusInd Bank | 11% onwards |
| Kotak Mahindra Bank | 10.75 onwards |
| Muthoot Finance | 15% onwards |
| Punjab National Bank | 8.95% onwards |
| RBL Bank | 14% onwards |
| TATA Capital | 10.99% onwards |
| UCO Bank | 9.75% onwards |
| Union Bank of India | 8.90% onwards |
| Yes Bank | 10.75% onwards |
| Central Bank of India | 7.25% p.a. |
| J&K Bank | 9.50%-10% p.a. |
| Canara Bank | Up to 7.25% p.a. |
| Kotak Mahindra Bank | 10.50%-17% p.a. |
| Bandhan Bank | 10.99%-18% p.a. |
| Punjab and Sind Bank | Max-10.50% p.a. |
| Indusland Bank | 11.25%-15.50% p.a. |
| Muthoot Finance | 12%-27% p.a. |
| YES Bank | 12% p.a. |
| Jana Small Finance Bank | 14% p.a. |
| Manappuram Finance | 14%-29% p.a. |
| City Union Bank | 14.25% p.a. |
| Fincare Small Finance bank | 14.99%-22.99% p.a. |
| AU Small Finance Bank | Up 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.