Every bank or gold finance company has different rules for how much loan you will get against your jewelry. SBI offers gold loans from Rs 20,000 to Rs 20 lakh.
Gold Loan
In the era of Corona, many people lost their jobs, even people have to borrow to run the house. Since there is no job, in such a situation loan is not available from the bank. In such a situation, keeping gold with you can become a companion of your trouble. Although you can also take money by selling gold, but there is a problem that your precious jewelry will be gone from you forever. In such a situation, gold loan also fulfills your need and you can also take back your belongings. At the same time, there is no need to spread hands in front of anyone.
Nowadays, from banks to finance companies in the market, gold loans are provided in minutes. Whether it is the country’s largest government bank SBI or gold financing company Muthoot, you can easily take a gold loan everywhere. But here it comes to where to get the cheapest interest rate. So let us tell you what are the rates from banks to gold finance companies from where you can avail cheap gold loan.
Bank / NBFC | Rate of interest |
Mannapuram Finance | up to 29 percent |
Muthoot Finance | 24% to 26% |
Axis Bank | 13% |
SB I | 7 to 7.5% |
ICICI Bank | 7.4% |
HDFC bank | 8.9 to 17.23% |
Canara Bank | 7.35% |
how much loan will you get
Every bank or gold finance company has different rules for how much loan you will get against your jewelry. SBI offers gold loans from Rs 20,000 to Rs 20 lakh. So at the same time, gold finance company Muthoot Finance also gives a minimum amount of Rs 1,500 as a gold loan. There is no maximum loan limit. The country’s second largest private bank gives a loan of Rs 10,000 to Rs 1 crore on your gold.
how to get loan
You do not need to make much effort to get a gold loan. For this, you take your gold and go to the office of the bank or gold financing company. There your gold is checked. Then some necessary documents are filled. After this you get the loan immediately. Companies provide loans on the basis of the value of your gold.
read this also:
After e-commerce, now the government has become strict on direct selling companies, business model will have to be changed
LIC’s Jeevan Anand Policy: Will get Rs 22,500 every year and finally get 5 lakhs, this is the way
.