Who is eligible for a gold loan
Everyone who has gold jewelry and all. I think Moothut finance is better to take loans on gold. they charge a 1.5 percent interest rate.
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Per annum ?
Are you sure of the interest rate of 1.5%? (might be a typo) I have never seen in my life any product in India which is offered at 1.5%. Could be 1.5% per month. This too cant be as it will be 18% on flat basis.
Please check the website and you will get the rates. I have copied some data from banknkbazar.com
|ICICI Gold Loan |10% p.a. - 19.76% p.a.|Rs.10,000 to Rs.1 crore |
|Axis Bank Gold Loan |12.50% p.a.to 17.50% p.a.|Rs.25,001 to Rs.25 lakh |
|HDFC Gold Loan |9.50% p.a. to 17.15% p.a.|Rs.10,000 onwards |
|Canara Bank Gold Loan |7.65% p.a. |Rs.5,000 to Rs.20 lakh |
|Muthoot Gold Loan |12% p.a. to 27% p.a. |Rs.1,500 onwards |
|SBI Gold Loan |7.50% p.a. onwards|Rs.20,000 to Rs.50 lakh |
|Kotak Mahindra Gold Loan |10.00% p.a. - 17.00% p.a.|Rs.25,000 to Rs.50 lakh |
|IndusInd Bank Gold Loan |10.50% p.a. - 16.00% p.a.|Up to Rs.10 lakh |
|Manappuram Gold Loan |Up to 29% |Up to Rs.1.5 crore |
|Bank of Maharashtra Gold Loan|7.35% p.a.|Up to Rs.20 lakh|
|PNB Gold Loan|8.75% p.a. to 9.00% p.a.|Rs.25,000 to Rs.10 lakh |
|Bank of Baroda Gold Loan|9.1% p.a. - 9.25% p.a.|Up to Rs.25 lakh |
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I took gold loan from [email protected]%p.a 2 weeks ago.
They will give agricultural gold loan at 7% also
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If you have gold with you, you are eligible for the gold loan. You can look for a good bank who provides you a good deal on a gold loan.
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