Gold Loan Interest Rates Comparison in India
Gold Loan is the new kind of loan available in India. Here just like any other asset, you pledge your gold and the bank will give you a loan against it.
Usually the Banks/Financial Institutes will give you 70-95% loan as that of the value of the gold. Here is the Comparison table of Gold Loan interest rates of various banks and financial institutions of India.
| Lender | Interest Rate (%) per Annum | Maximum Loan Amount (Rs.) |
| Allahabad Bank | 12.0 | 5,00,000 |
| Muthoot Finance | 12.0 | 1,00,00,000 |
| Manappuram Finance | 12-24.0 | 1,00,00,000 |
| Federal Bank | 12.75 | 75,00,000 |
| Central Bank of India | 11.5-12.5 | 10,00,000 |
| HDFC Bank | 14.0 | 10,00,000 |
The above 6 are the Top most lenders of India who give loan against gold. Usually the interest rates vary from 12-14% per annum.
Remember that, there is no prepayment penalty on gold loans. Also remember that, the banks usually lend only against the jewellery.
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