Gold Loan Interest Rate: Due to weak US economic data, the price of gold reached a record high of Rs 66,000 per 10 grams this week. If you want to sell your gold and relocate your assets, this could be a good time.
Gold Loan Interest Rate: Due to weak US economic data, the price of gold reached a record high of Rs 66,000 per 10 grams this week. If you want to sell your gold and relocate your assets, this could be a good time. This is a good time for those who want to pledge gold for emergencies. According to data from Bankbazaar.com, these private sector banks are offering loans against gold at low rates.
HDFC Bank
Private sector bank HDFC Bank is charging interest rate of 8.5 percent on gold loan of Rs 5 lakh for two years. In this case, your monthly EMI installment will be Rs 22,568.
Indian Bank
Indian Bank is giving gold loan at the rate of 8.65 percent on gold loan of Rs 5 lakh for 2 years. Then the monthly installment becomes Rs 22,599.
Union Bank of India
Union Bank of India is offering the cheapest gold loan at 8.7 percent. In this, EMI on gold loan of Rs 5 lakh for a period of two years will be Rs 22,610.
Bank of India
Bank of India is charging 8.8 percent interest on gold loan of Rs 5 lakh for a period of two years. In this, EMI of Rs 22,631 will have to be paid.
Canara Bank
Canara Bank and Punjab National Bank are offering 9.25 percent interest on gold loan for two years. EMI on gold loan of Rs 5 lakh will be Rs 22,725.
Bank of Baroda
Bank of Baroda is charging 9.4 percent interest on two-year gold loan of Rs 5 lakh. The bank will charge monthly EMI of Rs 22,756 on this.
State Bank of India
State Bank of India (SBI) is charging 9.6 percent interest on gold loan of Rs 5 lakh for two years. Monthly EMI of Rs 22,798 will have to be paid on this.
ICICI Bank
ICICI Bank charges 10 percent interest on gold loan of Rs 5 lakh with a tenure of two years. Borrowers will have to pay EMI of Rs 22,882.
Axis Bank
Axis Bank charges an interest rate of 17 percent on a gold loan of Rs 5 lakh with a tenure of two years. The EMI of the borrowers will be Rs 24,376.
