Cheapest Gold Loan: If you need money suddenly, then a gold loan can be a much better option. Today we are going to tell you about some banks, from where taking gold can be beneficial for you.
Cheapest Gold Loan: If you suddenly need money, then you can take a gold loan from the bank for this. Gold loan can be a much better option. One can easily get a gold loan from a bank or other financial institutions and it is cheaper than a personal loan.
Due to the low risk, loans can be taken easily by pledging gold from banks, NBFCs or other financial institutions. Today we are going to tell you about some banks, from where taking gold can be beneficial for you.
Cheap gold loan is available in these banks
– Federal Bank – 8.50 per cent
– SBI – 7.30 percent
– Punjab & Sind Bank – 7 percent
– Punjab National Bank (PNB) – 8.75 percent
– Canara Bank – 7.35 percent
– Indian Bank – 7 percent
– Bank of Baroda (BOB) – 9.00 percent
– Karnataka Bank – 8.49 percent
– IDBI Bank (IDBI) – 7 percent
– HDFC Bank – 11 percent
(Note: These figures have been compiled by online marketplace BankBazaar.com. This list includes public-private banks and NBFCs listed on the BSE.)
Take special care of these things
1- Always keep in mind that your gold should not be less than 18 carat before taking the loan, because many banks do not offer gold loan less than 18 carat.
2- It is mandatory to have Aadhar or PAN card to take gold loan. This will work as your identity card.
3- Like normal loan, gold is also given for different tenures. Banks are offering normal gold loans for 3 months to 36 months.
4- Always try to take gold loan from government banks only. Because the interest rate is low here.
Gold loan is very cheap
Gold loan is much cheaper than personal loan. Also, it takes very less time to get the gold loan approved. In such a situation, amidst the Corona crisis, gold loan has become the first choice of the common people.
