5 Popular Gold Loans for You

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About 5 Popular Gold Loans for You

Loan sanctioned against Gold is known as Gold Loan. It is the safest and secure type of loan. If you are going through a financial crisis and need immediate funds then you should apply for Gold Loan. It is because it requires minimum documentation and no formality. The gold loan provides the customer with high funding which helps them to fulfill their personal needs, business expansion, wedding, agriculture loans, and education purpose. Now you don’t have to wait for financial help to go and apply and get funds instantly. It offers easy processing and just requires the purity of Gold Above 18karat. Quality of Gold will decide the loan amount you will get. So apply now and get immediate funds.

Some of the Popular Gold loan products are given below

HDFC Sampoorna Bharosa Gold Loan

Min/Max Loan Amount– Min Rs. 50,000 in urban areas. Lesser loan amounts for rural areas only

Interest Rate*- Starts at 7.00%

Processing Fees*- up to 0.5% Loan processing charge+ Valuation charge + applicable service charges

Additional Charges* Prepayment/Late Payment Charges of Up to 1%

Muthoot Finance Gold Loan

Min/Max Loan Amount –Min Rs. 1,500/ Max limit Rs. 1 Crore

Interest Rate*- Starts at 7.00%

Processing Fees*- Up to Rs. 500

No Prepayment penalty.

SBI Gold Loan

Min/Max Loan Amount Minimum Rs. 10,000 (rural), Rs. 20,000 (urban)/Max Limit Rs. 20 Lakhs

Interest Rate*- Starts at 7.25%

Processing Fees*-Starting from Rs. 256 (depends on loan amount and other factors)

No Prepayment penalty

Manappuram Finance Gold Loan

Min/Max Loan Amount –Maximum Rs 1 Crore

Interest Rate*- Starts at 7.25%

Processing Fees*-Up to Rs 200

No Prepayment Penalty.

Axis Bank Gold Loan

Min/Max Loan Amount -Minimum Rs 25001 to Max Limit of Rs 20 Lakhs (for account holder). Rs. 4 Lakhs limit for new customers.

Interest Rate*- Starts at 7.25%

Processing Fees*-Valuation Charge Rs. 500+ 1% Processing Fee

No Prepayment/part payment penalties. Late payment charges of 2% per month on the overdue amount.