# **SBI Gold Loan Interest Rate 2024**

 SBI Gold Loans provide a convenient and secure way for individuals to access funds by pledging personal gold, such as jewellery or coins, as collateral. The loan process is straightforward with minimal documentation. So, let’s know all the details you need to obtain this loan.

## **SBI Gold Loan Details**

The combination of the flexible loan amount, reasonable tenure, and low fees makes the SBI gold loan an accessible and budget-friendly option:

* **SBI gold loan interest rate:** 9.00%

* **Loan amount:** Rs.20,000-Rs.50,00,000

* **Age limit:** 18 years-70 years

* **Tenure:** Up to 36 months

* **Accepted gold:** Ornaments verified for quality and weight

* **SBI gold loan processing fee:** 0.50% \+ GST

## **Features of State Bank of India Gold Loan Schemes**

* **Flexible loan amounts:** Loans are available for sums ranging from Rs. 20 thousand to Rs. 50 lakh, making them suitable for small to large financial requirements.

* **Flexible tenure options:** You can choose repayment terms between 12 to 36 months, depending on your financial convenience. 

* **Security:** Gold pledged as collateral is stored securely and returned upon loan repayment.

* **Repayment modes:** SBI provides multiple repayment options, including standard EMIs, liquid gold loans, and bullet repayment gold loan schemes (paying principal and interest before loan maturity). 

* **Affordable processing fees:** SBI charges just 0.5% of the loan amount, ensuring affordability. 

* **Quick processing:** With minimal documentation, loans are approved quickly, often on the same day. 

* **No prepayment penalty:** You can prepay the loan incurring any additional charges. 

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## **SBI Gold Loan Rate Per Gram**

As per the State Bank of India, the loan amount per gram depends on the gold purity and net weight. The bank does not grant any gold loan based on the security of primary gold. 

## **SBI Gold Loans Interest Rate**

You can get gold loans at competitive SBI bank gold loan interest rates as per the types of gold loan:

* **Gold loan:** Interest rate starts at 9.00% per annum.

* **Realty gold loan (for housing loan customers):** Same rate as the standard gold loan at 9.00% per annum.

* **Agriculture gold loan:** 1-year MCLR (Marginal cost of funds based lending rate) \+ 1.25% 

## **SBI Gold Loan Eligibility**

* **Age:** Must be between 18 and 70 years

* **Profession:** All farmers and agricultural entrepreneurs

* **Income source:** A consistent source of income is required, but proof is not mandatory for retirees or existing bank customers 

* **Gold ownership:** The gold pledged must belong to the applicant and meet quality standards.

## **Documents Required for SBI Gold Loan**

* **ID proof:** PAN card, Aadhaar card, passport, or government-recognised identification. 

* **Address proof:** Utility bills, passports, or valid address verification documents. 

* **Photographs:** Two passport-sized photographs of the applicant.

* **Completed application:** Accurately filled and signed application. 

## **Fees of SBI Gold Loan Scheme**

SBI charges a nominal processing fee, which is among the lowest in the industry:

* **Standard fee:** 0.5% of the loan amount, subject to a minimum of Rs. 500. 

* **YONO applications:** No processing fee is charged if the loan is applied for via the SBI YONO app. 

## **SBI Gold Loan Interest Rate Compared to Other Lenders**

When compared to other leading banks, SBI gold loan interest rate can be considered competitive:

| Bank | Interest rate |

| SBI Gold Loan | Starting from 9.00% |
| Axis Bank Gold Loan | 9.35% to 17% |
| HDFC Bank Gold Loan | 9.30% to 17.86% |

Apart from this, SBI will decide your SBI gold loan appraiser charges (charge by the lender to evaluate the weight, purity, and market value of gold ornaments) that you have to bear accordingly. 

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## **How to Apply for SBI Gold Loan Schemes?**

Applying for an SBI Gold Loan is simple and can be done online or at a branch:

**Step 1:** Visit the SBI website or the nearest branch. For online applications, fill out the form with details such as loan amount, name, mobile number, and PIN code. 

**Step 2:** Submit the form and follow the on-screen instructions to complete the process.

**Step 3:** After verification, the loan is approved, and the funds are disbursed. 

## **How to Pay Gold Loan Interest in SBI Online?**

Paying your SBI gold loan interest online is a simple process:

1. **Log in to your SBI net banking** Access your SBI internet banking account using your username and password or register on the SBI website.

2. **Navigate to the e-payment section:** Once logged in, go to the “Payments/Transfers” section in your account dashboard.

3. **Add your loan account as a biller:** Add your SBI gold loan account as a biller by selecting the option to “Add Biller” or “Register Loan Account” under the bill payment section.

4. **Make the payment:** Select the loan, choose the amount you want to pay (EMI or interest) and authenticate the payment using OTP (one-time password) sent to your registered mobile number.

5. **Confirmation of Payment:** Upon successful payment, you will receive an SMS.

## **Conclusion** 

SBI gold loan offers a seamless borrowing experience with competitive interest rates and flexible repayment options. Whether for personal or agricultural needs, their quick processing and minimal documentation make them a reliable choice. With easy online payment methods, managing your gold loans becomes significantly convenient.

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SBI Bank Gold Loan Interest Rate 2024 | Features, Benefits, Eligibility & Documents | #goldloan

SBI Gold Loan per gram in 2024 | Today's per gram rate

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SBI Bank Gold Loan Per Gram Rate of Today is Rs 4228 to Rs 5286. SBI Gold Loan interest rate is 9.00% - 10.25% pa. Get a better Per gram rate of ₹5286 - ₹5991 & interest rate of just 0.85%* per month at indiagold.

SBI Gold Loan per Gram Rate in 2024

Gold, being a precious metal, has huge significance, as it has ever increasing value, and many currencies are pegged against it, making it one of the most important financial instruments. However, in India, the significance increases multifolds considering the fact that apart from its face value, gold also commands a significant emotional and cultural value.

## Are there different levels of Gold purity?

Gold being the metal that it is, due to its malleable nature, it has very little practical use case in its natural and the purest state. To make it usable, the purity is toned down by a predetermined percentage. Gold purity is measured in Karats (K). Higher the karat value, the purer the gold. Some of the common gold purity levels are as follows:  
**24K (100% Pure)** : 24 karat is the purest form of gold. However, due to the malleable nature of the metal it is not fit to make jewellery or utensils. Gold of this purity is usually used for storing in the form of bullion (Coins or bar). As per the regulation by the Reserve Bank Of India (RBI) maximum available LTV is 75%. That means whatever is the current gold rate for 24K gold, a borrower can secure debt up to 75% of the value of the gold. Example for a 24K gold of value INR1000, a maximum of INR750 can be secured as a loan against it  
**22K (91.7% Pure)** : Gold of 22 karat purity has a healthy balance of high purity and metal strength, which makes it the perfect choice for making ornaments. In India this is the most preferred option for retail buyers. As mentioned above, the LTV rule holds true for gold of 22K purity too. A maximum of 75% LTV can be availed   
**18K (75% Pure)** : 18 karat is another preferred option for retail buyers as this too can be used to make jewellery and utensils while offering a decent enough purity level. 18 karat gold is becoming increasingly popular due to the affordability factor considering increasing gold prices. A customer can also secure a loan with a maximum LTV of 75% for gold ornaments with a 18K purity too.  
**14K (58.3% Pure)** : 14 karat gold has 58.3% of gold by purity standards. Ornaments or jewellery made from 14 karat gold offers high sturdiness while retaining decent quality of gold  
**10K (48.7% Pure)** : Ornaments made from gold of 10 karat purity level have lower than desirable purity level of gold from a customer point of view. Although availability is not the issue, however, customer preference is low in India.

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## Is there a determinant for Gold Purity?

Now, to a naked and untrained eye, determining the purity level of the gold by simply looking at it is almost impossible. Hence, there are various agencies or government agencies that certify the purity of the gold metal/ornament. In India, the apex agency is Bureau of Indian Standards (BIS) that rates the purity of gold.   
There is another purity standard for Gold, i.e. KDM \- a KD gold means that the purity level is 92% however, the same is not certified by the Bureau of Indian Standards (BIS). Hence, the demand for KDM gold has stagnated considering the fact that people prefer buying Hallmark certified jewellery because of the trust that it commands.

## What is the difference between KDM and Hallmark and which one shall I choose?

For a common person with limited knowledge of gold and its purity may have a question \- What is KDM Gold? KDM Gold is nothing but gold with 92% of purity level. KDM and Hallmark both signify Gold’s purity levels. While KDM is the more outdated version to determine gold’s purity, Hallmark is more preferred by the buyers just because of the different level of purity it can certify, and the reliability of BIS.  
It is solely the customers choice or preference. However, one must ensure that they are paying only for the quality of gold that they are buying.

## Can a customer be cheated and what should one do to avoid cheating?

As mentioned earlier, there’s no way to determine the purity level of gold just by looking at it. And there’s a high probability for the customers to be cheated by cunning businessmen and fraudsters. A customer can be sold low quality gold while being charged for a higher quality. This happens more often than you may think, especially while buying jewellery of a smaller value, i.e. small gold item like a ring, pendant, etc. Example \- A jeweller has charged a customer for 24 karat ring while the real purity was 18 karat, essentially resulting in the customer overpaying for the gold that they bought.

To avoid this, BIS has introduced Hallmark. Hallmark on gold jewellery determines the purity level of gold used to make the jewellery. There are different types of hallmark signs like 958, 916, 875, 750, etc. all indicating different purity levels. Example \- BIS 916 hallmark indicates 91.6% purity level of gold i.e. 22 karat.

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## How to check Hallmark on Gold?

Gold ornaments certified by the Bureau of Indian Standards (BIS) have a hallmark sign on them indicating the purity level. The hallmark stamp on gold is usually placed in such a place that is not in the line of sight to someone looking at the ornament from afar. Only after carefully looking for the symbol can someone find it. For example, in case of chains, it is usually placed on the locks, for bangles, the BIS Hallmark symbol can be found on the inside. Along with the Hallmark symbol, purity level is also marked like 916 gold, 875, 750, etc all indicating different purity levels.  

## Is there a difference between Hallmark gold Price and non Hallmarked gold? How to ensure that you’re not overpaying?

Gold price is dynamic, it changes every moment and on all days. However the retail price of Gold is usually fixed at the stores for the day. To ensure that the buyer is not overpaying for their purchase, they must make sure to check the latest gold rate for the day. It is also imperative to know the rate for the purity level. As higher purity means higher price. Also, ensure that the price and the purity level matches. A retailer may offer a lower price to increase sales, which would be great from a buyer’s perspective, however one must ensure that they’re not paying more than the market price for the day or simply search for hallmark gold rate today on the internet to know the latest gold rate, and more importantly one should check the actual value based on the purity level before making a buying decision.

## Investing in Pure Gold : is it worth the premium?

Before making an investment in any financial instrument, the first thing that the investor must do is have a clear understanding of the objective of the investment. When it comes to investing in Gold, the buyer must first decide if they want to buy Gold solely for investment purpose, or if they plan on using the gold in the form of jewellery.  
Irrespective of the form of investment, if you consider the price trends, there is a clear indication that the prices are bound to increase, and the buyer will essentially make returns, however the magnitude of returns may vary, which is outlined below. Let’s understand both the scenarios:

* **Gold purchase only for investment** : If the purpose for buying gold is to store it only to sell at a premium for what you paid for, essentially making returns. Then the buyer is set with buying pure gold 924 karat). That too in the form of bullion i.e. coins or bars. Reason being, purchasing gold jewellery in 22 karat or below although has less price than the 24 karat gold, however there are additional costs like making charges, GST, stone charges, etc. that the buyer pays while acquiring the jewellery, which while selling is not taken into consideration, and this diminishes the overall return on the investment. Hence, buying pure gold in the form of coins or bars makes much more sense since there is no making charges, labour, stone charges, etc. that comes with it.  
* **Gold purchase for personal use** : if the objective is to make returns while also utilizing the gold for personal use, then buying gold jewellery is the best option. Here the buyer gets a lot of flexibility, regarding the purity of the gold they want to purchase, and the type of jewellery they’d like to use. Buyers can use the gold while still enjoying the increasing value of their asset. However, one should keep in mind that there are additional costs like labour charges, which they’d end up paying extra as while selling the gold, these costs are not taken into consideration and only the actual metal value is paid to the seller. Also, to avoid any shocks regarding the actual purity level while selling the gold, the buyer should always make sure that the buyer should only buy jewellery with gold hallmark sign which indicates the purity. 

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## Conclusion

As one of the most valuable and culturally significant metals, gold is used both for investment as well as personal purposes. However, due to its nature, there is almost no way to determine the purity level without proper scientific tests. To ensure that the people are not cheated, the government backed institution Bureau of Indian Standards (BIS) has introduced hallmark standards which indicate the purity of gold.   
When investing in Gold, it is essential to decide whether the primary goal is to make financial gain or is it for personal use and financial gain is secondary. For investment purposes, it makes more sense to buy gold in bullion form, as it does not attract extra charges like making, labour, stone charges, etc. hence enhancing the net returns on your investment. Whereas, if enjoying financial gain is secondary, while using the same for personal use is primary \- it makes more sense to buy gold jewellery/utensils as it offers usability, flexibility in options, and purity. However, this comes at a price of making charges, etc. which depreciates the net returns on your investment.


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Learn about gold purity levels, Hallmark vs. KDM, investment vs. personal use, and tips to avoid fraud. Ensure smart gold purchases with this detailed guide.

Hallmark Gold : Pay for what it’s worth!

# **IIFL Gold Loan Interest Rates**

IIFL gold loan is a convenient financial solution tailored for Indian customers. It offers competitive interest rates and flexible repayment choices. By pledging gold as collateral, you can quickly access funds to meet various personal and professional needs. 

## **IIFL Gold Loan Details**

IIFL loans provide you with easy access to the quick funds that you require.

* **Loan amount:** Minimum amount is Rs. 3000 or the value of 1 gram of gold (whichever is higher)

* **Repayment tenure:** Up to 2 years, with options to repay monthly, quarterly, or annually

* **Interest rate:** 11.88% per annum to 27% per annum

* **Loan-to-value (LTV) ratio:** Up to 75% of your pledged gold’s market value

* **Processing fees:** Starting from Rs. 0, nominal charges may apply as per the loan scheme

* **Penal charges:** 0.50% per month (equivalent to 6% per annum) plus GST

* **Pre-closure/part-payment charges:** No charges

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## **Features of IIFL Gold Loan Schemes**

* **Wide interest rate:** The interest rates vary between 11.88% to 27% per annum, depending on the loan scheme.

* **Quick processing:** Loan approval takes just 5 minutes, and funds are disbursed within 30 minutes. 

* **Purity requirement:** Gold jewellery with a purity level of 18 carats or more is accepted. 

* **Open to all applicants:** Available for salaried individuals, business owners, homemakers, students, and more. 

* **Market-based value:** The gold’s value is calculated using the current per gram market price. 

* **Loans tailored to gold quality:** Net gold weight, purity, and LTV ratio determine the loan amount, tenure, and interest rate. 

* **Exclusion of non-gold elements:** The valuation does not include stones, gems, or other non-gold components in jewellery.

## **IIFL Gold Loan Schemes**

* **IIFL Gold Loan at Home:** This option allows you to apply for a gold loan from the comfort of your home. It caters to your personal or professional needs. The tenure extends up to 2 hours, and the LTV ratio goes up to 75%.

* **IIFL MSME Gold Loan:** Tailored for entrepreneurs, this loan helps address business-related expenses. You can avail of up to 75% of their gold’s value with a maximum tenure of 2 years. 

* **IIFL Gold Loan for Women:** Designed to support women for personal or business needs. It offers up to 75% of the pledged gold value as a loan, with a flexible tenure of up to 2 years.

* **IIFL Agricultural Gold Loan:** Ideal for farmers, this loan supports agricultural investments like seeds and equipment. It has an LTV ratio of up to 75% and a repayment tenure of 2 years. 

* **IIFL Gold Loan for Education:** Specifically aimed at covering educational expenses, including tuition and study materials, with an LTV of up to 75% and a tenure of 2 years.

## **IIFL Gold Interest Rate for Loans**

You get a competitive IIFL interest rate for gold loans ranging from 11.88% to 27% p.a. This is comparatively more accessible than the IIFL business loan interest rate which ranges up to 36%. The IIFL loan interest rate depends on the loan amount, repayment tenure, and frequency. These rates ensure that borrowers can access funds against their gold with manageable repayment terms. You can also use the IIFL gold loan calculator to understand the interest rate as per your requirements. 

## **IIFL Gold Loan Fees and Charges**

* **Processing Fees:** Starting from Rs. 0, nominal fees based on the scheme. 

* **MTM charges:** Rs. 500

* **Auction actions:** Rs. 1,500

* **Auction intonation charges:** Rs. 200 

* **SMS charges:** Rs. 5.90/quarter

## **IIFL Gold Loan Eligibility**

* Salaried, self-employed, and non-salaried individuals, with no requirement for income proof. 

* The minimum age is 18 years; the maximum age is 70 years at loan disbursal and 72 years at renewal. 

* Gold ornaments with 18 to 22 purity are accepted.

## **IIFL Gold Loan Documents Required**

* **Identity proof:** Aadhaar card, PAN card (mandatory for loans above Rs. 5 lakh), voter ID, passport, driving license, or bank statement

* **Address proof:** Aadhaar card, passport, driving license, electricity bill, voter ID, ration card or bank statement

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## **How to Apply for IIFL Gold Loan?**

To apply for an IIFL finance gold loan, follow these steps:

1. **Application:** Begin by submitting your application through your preferred channel- either online via the IIFL website/app or by visiting a branch in person. IIFL also offers a convenient “Gold Loan at Home” service where a representative comes to your location. 

2. **Gold evaluation:** A trained appraiser evaluates the purity and quality of your hold. If you have chosen the “Gold Loan at Home” service, the evaluation will be conducted at your doorstep. The loan amount is determined based on the purity and value of the pledged gold. 

3. **Documentation:** Ensure your KYC documents (Aadhaar, PAN, etc.) are ready as per RBI guidelines. The documentation process is quick and ensures compliance with legal norms. 

4. **Approval and disbursement:** After conforming your agreement with the loan amount and terms, the loan is approved. A minimal processing fee is deducted, ranging between 0.10% and 1%. Funds are disbursed promptly, often within minutes of approval. 

## **IIFL Gold Loan Foreclosure and Part-Payment**

* **Foreclosure:** Borrowers can foreclose the loan after clearing the amount before the tenure ends. Charges range from Rs. 0 to Rs. 150 for foreclosing within 3 months, with no charges after 3 months. 

* **Part-payment:** Partially repaying the loan reduces the outstanding principal, lowering the interest burden. This option also allows partial release of the pledged gold. 

## **IIFL Gold Loan Repayment**

* **At branch:** You can make a repayment by visiting the nearest IIFL branch, ensuring immediate processing. You can get assistance from branch executives. 

* **Online:** You can repay the loan through a secure online platform, accessible anytime from anywhere. 

* **Through the app:** The IIFL Loans app provides a user-friendly way to manage loan accounts, view details, and make payments conveniently. 

## **Conclusion** 

IIFL gold loans provide a secure and accessible way to unlock the value of your gold, catering to diverse financial requirements. Its customer-centric approach, transparent processes, and flexible terms make it a reliable choice for those seeking quick financial assistance. With IIFL, you can manage your immediate needs without compromising your long-term goals.

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IIFL Gold Loan interest rate is 9.48%-15% p.a upto Rs 50 Lakhs amount. IIFL Gold loan rate per gram of gold is ₹4290 for 22 Carat. Get a Gold Loan at 0.77% Interest rate at Indiagold. 

IIFL Gold Loan Interest Rate @9.48%-15% p.a | Per Gram Rate

IIFL Gold Loan interest rate 2024.png

IIFL Gold Loan interest rate is 9.48%-15% p.a upto Rs 50 Lakhs amount. IIFL Gold loan rate per gram of gold is ₹4290. Get indiagold Gold Loan at 9.24%. Get 100% Free insurance on your gold with minimal documentation.

IIFL Gold Loan Interest Rate 2024

# **IDBI Bank Gold Loan Interest Rates**

IDBI Bank offers gold loans to support various financial needs, catering to farmers, small businesses, traders, distributors, and self-employed professionals. These loans are designed to provide quick liquidity, helping you meet temporary expenses, urgent medical requirements, social obligations, and business financing needs. 

## **IDBI Bank Gold Loan Details**

IDBI Bank provides swift and efficient gold loans. They are a practical choice for those looking for secured credit solutions. 

* **Loan amount:** Rs. 10,000 to Rs. 50 lakhs

* **Interest rate:** Starting from 5.88% per annum

* **Tenure:** 3 to 12 months

## **Features of IDBI Bank Gold Loan Schemes**

* **Loan amount:** The IDBI Bank gold loan starts from Rs. 10,000 making it accessible for small financial needs. The maximum limit is capped at Rs. 50 lakhs, ideal for larger financial goals. 

* **Flexible tenure:** You can choose repayment periods from 3 to 36 months which ensures convenience. 

* **Competitive interest rate:** IDBI Bank offers attractive rates, making gold loans affordable for a wider range of borrowers. 

* **Targeted assistance:** Farmers can access funds for cultivation, medical, and social obligations. Small businesses, traders, and professionals can finance their operational needs. 

* **Hassle-free process:** Quick application, approval, and disbursal are ensured when all necessary documents are provided. 

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## **Types of IDBI Bank Gold Loan**

IDBI bank provides three major gold loans:

* **Agricultural gold loans:** Tailored for farmers to address agricultural and related financial needs. 

* **Business gold loans:** Available for small businesses, traders, and professionals to manage operations or expand ventures. 

* **Personal gold loans:** Designed for individuals requiring funds for education, medical emergencies, social functions, or home margin payments.

## **IDBI Gold Loan Per Gram Rate**

The per gram rate depends on the loan amount, quality and purity of the pledged gold prevailing gold prices and bank policies. It also depends on government regulations and external market factors. 

## **IDBI Bank Gold Loan Interest Rate**

* The starting interest rate is 5.88%.

* Rates vary based on:  
  * Loan amount  
  * Quality and purity of pledged gold  
  * Other external factors influencing lending policies

* Transparent disclosure of fees ensures you have a clear understanding of your financial obligations. 

## **IDBI Bank Gold Loan Fee and Charges**

In addition to the interest rate, the following charges apply:

* **Processing fee:** 1% of the loan amount. 

* **Prepayment/foreclosure charges:** No charges after 3 months. 2% of the outstanding amount \+ GST if foreclosed within 3 months. 

* **Valuation fee:** Rs. 250 for loans up to Rs. 1.5 lakh. Rs. 500 for loans above Rs. 1.5 lakh. 

* **Late payment penalty:** 2% per annum on the applicable interest rate. 

* **Renewal processing fee:** Rs. 350 \+ GST

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## **Interest Rate of IDBI Gold Loan Compared to Other Lenders**

IDBI Bank offers competitive interest rates, starting from 5.88% for gold loans when compared to other lenders. 

| Bank  | Interest Rates |
| ----- | ----- |
| SBI | 9.10% onwards |
| Canara Bank  | 9.25% onwards |
| HDFC Bank  | 9.30% onwards |
| Axis Bank  | 9.35% onwards |

## **IDBI Gold Loan EMI Calculator**

You can estimate your EMIs using the IDBI Bank gold loan EMI calculator. This tool requires:

* **Interest rate:** Enter the applicable IDBI loan interest rate for gold. 

* **Loan amount:** Specify the amount you wish to borrow. 

* **Repayment tenure:** Choose your preferred repayment duration. 

This simple tool provides instant results to help you plan your finances effectively. 

## **IDBI Bank Gold Loan Eligibility**

To avail of the gold loan from IDBI Bank, you must meet the following criteria:

* **Age:** Minimum 21 years old.

* **Income requirements**: A stable income source, particularly from agriculture, or an annual income meeting bank criteria. 

* **Land ownership:** Farmers must possess at least one hectare of land. 

## **Documents Required for IDBI Gold Loan**

Applicants need to submit the following documents:

* **Identity proof:** Voter ID, PAN card, passport, or driving license.

* **Address proof:** Ration card, utility bill, or passport. 

* **Income proof (if required):** 12-month bank statement and previous year’s income tax returns (ITR).

* **Proof of business:** Sales tax certificate, lease deed, or utility bills.

* **Professional proof:** Degree certificate for self-employed individuals. 

* **Other requirements:** Recent passport-sized photographs, account statements, and any additional documents requested by the bank. 

## **How to Apply for IDBI Gold Loans?**

You can apply for gold loans with IDBI Bank both online and offline. You need to follow the simple steps in order to do so. 

**Online Application**

1. Visit IBDI Bank’s official gold loan page.   
2. Fill in details like name, address, date of birth, city, and other relevant information.   
3. Submit the application and await bank follow-up. 

**Offline Application**

1. Visit the nearest IDBI Bank branch or you can download the form from IDBI Bank’s website.  
2. Fill out the application form and submit the necessary documents.   
3. Pledge gold items, after which the loan is sanctioned and disbursed directly onto your account. 

## **Conclusion**

IDBI Bank’s gold loan scheme offers a seamless and reliable solution for diverse financial needs. With competitive interest rates, flexible tenure, and minimal documentation, it ensures accessibility for a wide range of borrowers. By leveraging the value of gold, individuals can meet urgent requirements while enjoying a transparent and hassle-free borrowing experience. 


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BOB Gold Loan, Gold Loan, BOB Bank Gold Loan Interest Rate, Bank of Baroda

IDBI Bank Gold Loan Interest Rate 5.88% - 10% p.a | indiagold

IDBI Bank Gold Loan interest rate today.png

IDBI Bank Gold Loan interest rate.png

IDBI Bank Gold Loan interest rate is starting at 5.88% - 10% p.a. IDBI Bank gold loan per gram rate is ₹ 3,800 to ₹ 4,350. Get a Gold Loan at 9% Interest rate at indiagold. Get 100% Free insurance on your gold with minimal documentation.

IDBI Bank Gold Loan Interest Rate

# **Bank of Baroda Gold Loan Interest Rates**

Bank of Baroda provides a convenient solution for those in need of quick funds by offering gold loans. These loans are secured against gold jewellery, ornaments, or specially minted gold coins. You can use these loans for wedding expenses, education, home renovation, or business expansion. Let’s dive deeper into understanding all about BoB gold loan schemes before you apply. 

## **Bank of Baroda Gold Loan Details**

Bank of Baroda offers gold loans at a moderate rate compared to other lenders. With this rate, you can easily apply for gold loans as per your requirements.

* **Bank of Baroda gold loan interest rate:** Starting at 9.15% per annum.

* **Collateral:** Minimum 18-carat gold jewellery or specially minted gold coins by banks.

* **Loan tenure:** Options of 12 months or up to 36 months with EMI (equated monthly instalment) schemes.

* **Loan amount:** Up to Rs. 50 lakhs. 

* **Repayment methods:** EMI, bullet repayment (single lump-sum repayment usually made at maturity date), or overdraft facilities. 

* **Processing fee:** No fee for loans up to Rs. 3 lakhs.

* **Pre-closure/pre-payment charges:** No charges applied.

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## **Features of Bank of Baroda Gold Loan Schemes**

* **Flexible loan amount:** You can avail of loans starting at Rs. 25,000, with a maximum limit of Rs. 50,000. 

* **Secure storage:** The pledged gold remains safely stored in the bank’s vault and is returned upon complete payment. 

* **No guarantor required:** To obtain Bank of Baroda gold loans, you do not need a guarantor. This makes the application process simpler and hassle-free for you.

* **Income proof not required:** You do not need to submit income proof, ensuring that individuals from all income levels can access loans easily. 

* **Easily convertible into cash:** The approved loan amount can be seamlessly converted into cash, providing immediate financial support to meet urgent needs. 

* **Minimal paperwork and faster processing:** The loan application requires minimal documentation, ensuring a smoother process and quicker loan approval and disbursal. 

* **No impact on credit score:** The gold loan interest rates are not influenced by your CIBIL score. This makes it accessible to anybody with varying credit histories. 

## **Types of Gold Loan Schemes from Bank of Baroda Based on Interest Rates**

* **Fixed-rate loans:** The interest rate remains unchanged throughout the loan tenure, ensuring stable EMI. 

* **Floating-rate loans:** Interest rates are linked to external benchmarks, which may fluctuate, affecting the EMI amount. 

* **Non-agricultural gold loans:** Available for salaried individuals, self-employed professionals, and students for non-agricultural purposes. 

* **Agricultural gold loans:** Offered at lower interest rates to support farmers with cultivation-related expenses. 

## **Bank of Baroda Gold Loan Rate Per Gram**

The BoB gold loan per gram is based on the purity and market value of the gold. For this bank, the amount ranges from Rs. 4,289 to Rs. 4,679 per gram. 

## **Bank of Baroda Gold Loan Interest Rate**

The BoB gold loan interest rate starts from 9.15%. The biggest advantage of obtaining your loan from this bank is that it does not consider your CIBIL score while setting the interest rates.

| Particulars | Interest rates (p.a.) starting from | Tenure |
| ----- | ----- | ----- |
| Demand Loan (LA180) | 9.15% | Up to 12 months |
| Agri Gold Loan | 8.70% (varies as per 1-year marginal cost of funds based lending rate or MCLR rates) | Up to 12 months |
| EMI (LA241) | 9.15% | Up to 36 months |
| Overdraft (LA043) | 9.15% | Up to 12 months |

You must also provide the gold loan appraiser charges which may vary based on your holdings. These charges are implemented by lenders to analyse the worth of your pledged gold. 

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## **Bank of Baroda Gold Loan Interest Rate Calculator**

You can easily check the EMI of your loan using the Bank of Baroda gold loan calculator. This BoB gold loan calculator helps you to calculate your EMI based on the loan amount, interest rate, and chosen tenure. This makes repayment planning easier and more transparent. 

## **Bank of Baroda Eligibility**

To qualify for a loan loan at the Bank of Baroda, you have to meet the following criteria:

* You must be Indian residents aged 18 to 70 years.

* Loans are available against 18-carat gold jewellery or ornaments and specially minted gold coins (up to 50 grams per applicant). 

## **Documents Required for Bank of Baroda Gold Loan**

To apply for a gold loan, the following documents are necessary:

* A registered mobile number linked to Aadhaar and a Bank of Baroda account. 

* PAN card (optional but recommended).

* BoB CIF number or bank account details for existing customers. 

* Physical gold for valuation.

* Original Aadhaar and PAN cards for verification purposes. 

## **Processing Charges of Bank of Baroda Gold Loan Scheme**

* **Processing fee:** Nil for loans up to Rs. 3 lakhs. For higher amounts, a fee of 0.50% of the loan amount is applicable. 

* **Gold assaying charges:** Rs. 0.50 per Rs. 100 net value of gold (Minimum Rs. 25; Maximum Rs. 350). 

* **Prepayment/post-closure charges:** No additional costs for early repayment 

## **Bank of Baroda Interest Rate Compared to Other Lenders**

The bank gold loan interest rate in BoB starts from 9.15% which is comparatively lower than other lenders. 

| Bank | Interest rates |
| ----- | ----- |
| Canara Bank | 9.25% onwards |
| HDFC Bank | 9.30% onwards |
| Axis Bank  | 9.35% onwards |

## **How to Apply for the Bank of Baroda Gold Loan Scheme**

You can apply for the gold loan schemes using the two approaches:

* **Walk-in application:** Visit the nearest Bank of Baroda branch with your gold and required documents. After completing a form, the bank evaluates the gold and processes the loan, usually within a day. 

* **Online application:** You can register online via the Bank of Baroda website by submitting the application form and uploading the necessary documents. The final step involves visiting the branch for gold valuation and loan disbursal. 

## **Procedure of Obtaining Gold Loan Scheme from Bank of Baroda**

Follow the below steps to avail of your gold loan from the Bank of Baroda:

1. **Gold evaluation:** The bank assesses the purity and weight of the gold to determine its value. 

2. **Market price analysis:** The gold’s market price is calculated based on recent rates. 

3. **Loan-to-value (LTV) determination:** The loan amount is set according to RBI’s LTV cap of 75%. 

4. **Application processing:** After you review the loan terms, the application is processed after deducting any applicable fees. 

5. **Loan disbursal:** The approved amount is credited to your account upon signing the loan agreement.

## **Conclusion**

The Bank of Baroda gold loan stands out for its convenience, flexibility, and borrower-friendly terms, catering to a variety of financial needs. With secure storage, fast processing, and no reliance on credit scores, it ensures a smooth borrowing experience. This offering is well-suited for those seeking a trusted and efficient financing option in India.

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Bank of Baroda BOB Bank Gold Loan Interest Rate 2024 | Features, Benefits, Eligibility & Documents | #goldloan

Bank of Baroda (BOB) Gold Loan interest rate 8.70% - 9.40% | Per Gram rate ₹4,289 - ₹4,679

## BOB Gold Loan interest rate
**As of 2024, BOB Gold loan interest rate is in the range of 8.70% to 9.40% per annum.**

It is important to note that the interest rates are subject to change at the discretion of the bank and can vary based on market conditions. Additionally, Bank of Baroda may also offer lower interest rates to women borrowers.

It is always recommended to check with the bank or visit their website for the latest interest rates before applying for a gold loan. Moreover, it is advisable to compare the interest rates and other terms and conditions of gold loans offered by different banks before finalizing one.

## Loan Amount For Bank of Baroda Gold Loan
Bank of Baroda offers gold loans ranging from a minimum of Rs. 10,000 to a maximum of Rs. 1 crore, depending on the purity and weight of the gold.

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## BOB Gold loan per gram rate

As of April 2024, the per gram rate for Bank of Baroda gold loan is **Rs. 4,289 per gram for 22 carat gold and Rs. 4,679 per gram for 24 carat gold.**

However, it is important to note that the per gram rate may vary depending on various factors such as the loan amount, loan tenure, and the prevailing market conditions. Additionally, the bank may also have different per gram rates for gold loan schemes targeted at different segments of customers.

## BOB Gold Loan Processing fees

Bank of Baroda charges a nominal processing fee for its gold loans. The processing fee for Bank of Baroda gold loan is up to 1% of the loan amount, subject to a minimum of Rs. 1,000 and a maximum of Rs. 10,000.

Getting a gold loan is a tedious and time consuming process, isn’t it? Well it turns out that we at IndiaGold have a solution for your problem. Now you can get Gold loans at your convenience.
- 0.77%* Rate of Interest Per month 
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Bank of Baroda Gold Loan interest rate is 8.70% - 9.40% p.a. Bank of Baroda (BOB) gold loan per gram rate is ₹4,289 - ₹4,679. Get a better Per gram rate of ₹4,293 - ₹4,865 & interest rate of just 0.77%* per month at Indiagold.

Bank of Baroda (BOB) Gold Loan Interest Rate 2024

# **Indian Overseas Bank Gold Loan Interest Rates**

Indian Overseas Bank’s Gold Loan is a reliable financial solution for those seeking quick funds by leveraging their gold assets. The competitive rates jewel loan interest rate in IOB along with flexible repayment options and various schemes, ensures affordability and convenience. Let’s take a closer look into the details, benefits, and application process to help you make informed decisions.

## **Indian Overseas Bank Gold Loan Details**

Indian Overseas Bank gold loans provide an easy and secure financing solution by allowing you to pledge your gold. 

* **Loan amount:** Up to Rs. 50 lakhs

* **Purpose:** For agricultural, personal, or business needs

* **Tenure:** 6 to 60 months

* **Interest rates:** 7.00% to 11.45% per annum as per chosen scheme

## **Features of Indian Overseas Bank Gold Loan Schemes**

* **Loan amount:** Flexible borrowing limits range from Rs. 25,000 to Rs. 50,000. 

* **Low processing charge**: IOB gold loan processing fee ranges between 0.15% to 0.30%, ensuring cost-effectiveness.

* **Attractive interest rates:** Some schemes have rates as low as 7% per annum.

* **Quick disbursement:** Get funds quickly with minimal process time.

* **No prepayment charges:** You can repay your loan early without any penalties.

* **Flexible tenure:** Choose repayment terms between 6 months and 60 months.

* **No documentation fees:** Save on additional costs as there are no documentation charges. 

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## **Indian Overseas Bank Gold Loan Schemes**

Indian Overseas Bank provides a variety of gold loan schemes to meet diverse financial needs. Each scheme is designed to cater to specific customer needs while ensuring flexibility and ease:

* **KCCJL (Agricultural jewel loan):** Designed for short-term agricultural requirements with bullet repayment (single lump-sum repayment during maturity) within a year. 

* **AGTAJ (Agricultural term loan- jewellery):** Offers loans up to Rs. 50 lakhs for agricultural investments, with repayment periods of up to three years. 

* **JL- Others (Jewel loan):** For non-agricultural purposes, with a focus on flexibility and affordability. 

* **SME gold:** Tailored for MSMEs, offering loans up to Rs. 50 lakhs with bullet repayment options. 

* **IOB Swarnalakshmi:** Exclusively for women borrowers, offering loans up to Rs. 5 lakhs along with free accidental insurance. 

* **IOB Swarna Samridhi:** Supports agricultural development with loans up to Rs. 10 lakh and no margin requirement. 

* **IOB gold-powered RuPay card:** Provides an overdraft facility of up to Rs. 25 lakhs for day-to-day transactions. 

## **Indian Overseas Bank Gold Loan Per Gram**

The IOB gold loan per gram depends on the market value of the gold along with its purity. As per this bank, the price of gold per gram is Rs. 3740 to Rs. 5300\.

## **Gold Loan Interest in IOB Bank**

Indian Overseas Bank offers attractive interest rates on its goal loans, catering to diverse financial needs. The IOB gold loan interest rates as per different schemes are:

| Scheme name | Interest rates (per annum) |
| ----- | :---: |
| KCCJL (Agricultural jewel loan) | 7.00% \- 11.45%  |
| AGTAJ (Agricultural term loan- jewellery) | 8.50% |
| JL- Others (Jewel loan- others) | 8.85% |
| SME gold | 8.85% \- 8.95% |
| IOB Swarnalakshmi (for women borrowers) | 9.20% |
| IOB Swarna Samridhi | 8.80% |
| IOB gold-powered card | 9.35% |
| Jewel Loan Suvidha  | 9.35% |

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## **Indian Overseas Bank Eligibility for Gold Loan**

Indian Overseas Bank offers straightforward eligibility criteria to make gold loans accessible:

* You must be at least 18 years old.

* You must own gold ornaments, jewellery, or coins that you would pledge for the loans. 

* Loans are provided against pure gold coins minted by Indian Overseas Bank or other banks, with a maximum of 50 grams per borrower. 

* The gold loans are available to both existing and new customers willing to open an account with the bank. 

## **Documents Required for Indian Overseas Bank Gold Loan**

To apply for a gold loan with Indian Overseas Bank, you must provide the following documents:

* **Identity proof:** Aadhaar card, PAN card, voter ID, passport, or driver’s licence. 

* **Address proof:** Utility bills, Aadhaar card, passport, or voter ID showing current address. 

* **Photographs:** Recent passport-sized photos.

* **Proof of ownership:** Documents proving ownership of pledged gold.

* **PAN card:** Mandatory if the loan amount exceeds Rs. 5 lakhs.

* **Loan application form:** A duly completed form provided by the bank. 

## **Processing Charges of Indian Overseas Bank Gold Loan**

* **Processing fee:** Nil for loans up to Rs. 3 lakhs. For higher amounts, a fee of 0.50% of the loan amount is applicable. 

* **Gold assaying charges:** Rs 0.50 per Rs. 100 net value of gold (Minimum Rs.25 and Maximum Rs. 350).

* **Prepayment/re-closure charges:** No additional costs for early repayment. 

## **Indian Overseas Bank Interest Rate Compared to Other Banks**

The present RLLR (reference lending rate) of Indian Overseas Bank is 9.35%. Here’s a comparison of gold loan interest rates offered by other banks with Indian Overseas Bank jewel loan interest rate:

| State Bank of India | 9.05% per annum onwards |
| :---- | :---- |
| Bank of Barda | 9.15% per annum onwards |
| Canara Bank | 9.25% per annum onwards |
| Punjab National bank  | 9.25% per annum onwards |
| HDFC Bank | 9.30% per annum onwards |
| Axis Bank | 9.35% per annum onwards |
| ICICI Bank  | 10.00% per annum onwards |

## **How to Apply for the Indian Overseas Bank Gold Loan?**

Applying for the IOB online gold loan is simple. You can do so by following these steps:

1. Visit the official Indian Overseas Bank website and navigate to the Jewel Loan section. 

2. Click on the “Apply Now” button.

3. Enter your mobile number, customer ID, or account details.

4. Provide details about the gold ornaments you wish to pledge.

5. Specify the loan amount and tenure you prefer.

6. Once your gold is appraised, the loan amount will be credited to your account.

## **Conclusion**

Indian Overseas Bank’s gold loan combines affordability and flexibility. This makes it a preferred choice for various financial needs. Whether for personal, agricultural, or business purposes, its attractive interest rates and minimal charges offer significant support. Explore the schemes and benefits to find the perfect solution for your requirements. 

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IOB Gold Loan interest rate is 7.05% p.a upto 25 Lakhs amount. Indian Overseas Bank's Gold loan rate of 1 gram gold is ₹ 2,900 to ₹ 3,450 for 22 Carat.

IOB Gold Loan Interest Rate @7.05% monthly | Per Gram Rate

IOB (Indian Overseas Bank) Gold Loan interest rate is 7.05% p.a upto Rs 25 Lakhs amount. IOB Gold loan rate per gram of gold is ₹ 2,900 to ₹ 3,450 for 22 Carat.

IOB Gold Loan Interest Rate in 2024

# **10 Best Loan Apps for Low Credit Scores**

A low CIBIL score can make accessing traditional loans challenging, but modern loan apps have transformed the lending landscape. These apps provide accessible options for individuals with poor or no credit history, ensuring financial support without the conventional constraints. By leveraging technology and flexible criteria, they make borrowing simpler and faster for a wide range of users. 

## **What is the CIBIL Score?**

CIBIL score is a numerical representation of your creditworthiness in India. A CIBIL score ranges from 300 to 900\. It is assigned by TransUnion CIBIL, one of the country’s leading credit bureaus. This score is derived from factors such as repayment history, credit use, outstanding debt, and credit mix. 

Lenders rely on this score to assess the risk involved in lending money, with higher scores reflecting better credit reliability. A score above 750 is generally considered excellent. It enhances the likelihood of loan approval and favourable terms. 

## **Features of Apps for Loans with Low CIBIL Score**

Apps for low credit score loans offer unique features that make borrowing accessible:

* **Eligibility without high credit scores:** These apps allow users to apply for loans even with poor or no credit history. This eases access to financial aid. 

* **Nominal processing fees:** A processing fee of 1%% to 3% (plus GST) is deducted from the disbursed loan amount. This makes the application process smooth and transparent.

* **Credit limit increases:** New borrowers who repay on time often qualify for higher loan limits, reaching up to Rs. 5 lakhs. 

* **Quick disbursement:** Loans are usually processed and credited to the applicant’s bank account within a short time. This caters to any urgent financial need. 

* **High interest rates:** If you have low credit scores, interest rates typically range between 20% to 36% annually. However, repaying on time can help reduce rates over time. 

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## **Top Low Credit Score Loan Apps**

When financial needs arise, individuals with low credit scores may face challenges in securing loans. Thankfully, these personal loan apps without CIBIL scores provide options tailored to such requirements. 

**Indiagold**  
Indiagold is considered the best instant loan app in India without CIBIL. It offers secure and affordable gold loans at competitive rates. It is an excellent option for those looking to leverage their gold assets without visiting a branch. 

* **Interest rates:** Starting at 0.77% per month or 9.24% per annum.   
* **Features:**   
  * Provides doorstep gold loan services with insurance coverage for pledged gold.  
  * Loan amounts are credited within 30 minutes of approval.  
  * Transparent terms and a secure process enhance borrower confidence. 

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**Money View**  
Money View delivers financial solutions for individuals needing instant liquidity. It has gained trust for its swift approval and disbursal system.

* **Interest rate:** 16% to 39% per annum.   
* **Features:**   
  * Useful for handling medical emergencies, unplanned travel, or other urgent expenses.  
  * The app offers customisable loan amounts and repayment terms.  
  * A simple and efficient application process designed to minimise delays.

**Bajaj Finserv**  
Bajaj Finserv provides versatile loan products with flexible repayment options. It is a preferred choice for individuals seeking financial aid for household or personal needs.

* **Interest rate:** 12% to 34% per annum.  
* **Features:**  
  * Suitable for purchasing gadgets, home appliances, or even large consumer durables.  
  * Offers higher loan limits for eligible borrowers despite low credit scores.   
  * A trusted name with an extensive presence across India, ensuring reliability. 

**Bueno Loans**  
Bueno Loans is a viable option for individuals in urgent need of financial assistance despite their low credit ratings. 

* **Interest rate:** 20% to 52% per annum.  
* **Features:**  
  * Provides quick access to loans for emergency medical expenses, home repairs, or educational fees.  
  * Designed specifically for individuals with low credit scores.   
  * Offers flexible repayment options to suit the borrower’s financial situation. 

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**KreditBee**  
KreditBee is a reliable platform for instant cash loans, even for borrowers with low credit scores. It stands out for its swift processing and borrower-friendly features. 

* **Interest rate:** Up to 29.95% per annum.   
* **Features:**  
  * Suitable for expenses like education fees, medical bills, or wedding arrangements.   
  * Offers flexible repayment periods that range from a few months to a year.   
  * Transparent terms ensure borrowers understand the costs involved. 

**mPokket**  
mPokket caters specifically to young professionals and students needing small-ticket loans. With its focus on affordability and accessibility, mPokket is a go-to for younger individuals.

* **Interest rate:** 0% to 4% per month.   
* **Features:**  
  * Quick disbursal process, ensuring funds are received quickly.   
  * Loan amounts are ideal for meeting urgent expenses like paying for books, rent, or daily needs.   
  * Easy repayment options linked to the borrower’s next paycheck. 

**SmartCoin**  
SmartCoin is a versatile platform offering financial support for various needs. It is favoured for its adaptability and borrower-centric approach. 

* **Interest rate:** Up to 30% per annum.   
* **Features:**   
  * Ideal for handling expenses like medical bills, utility payments, or short-term travel costs.   
  * Simple application process with quick approval and disbursal.  
  * The app uses AI to assess borrower’s eligibility and offer tailored loan options. 

**Pocketly**  
Pocketly is designed for borrowers needing small amounts on short notice. It is particularly useful for meeting short-term financial gaps. 

* **Interest rate:** 14% to 39% per annum.   
* **Features:**  
  * Great for meeting day-to-day needs such as utility bills or shopping expenses.   
  * Straightforward eligibility criteria and a fast loan approval process.  
  * Repayment plans are flexible catering to the borrower’s convenience. 

**Lazy Pay**  
LazyPay simplifies borrowing with its quick approval process and manageable terms. It is a popular pick for those who require immediate funds. 

* **Interest rate:** 16% to 32% per annum.  
* **Features:**  
  * Ideal for short-term needs such as shopping, paying bills, or planning a trip.  
  * A hassle-free application process with minimal documentation requirements.   
  * Offers flexible repayment options that suit different financial situations. 

**Indialends**  
Indialends offers a comprehensive solution for diverse borrowing needs. It is known for extending options to borrowers with suboptimal credit scores. 

* **Interest rate:** 10.25% to 25% per annum.   
* **Features:**  
  * Provides loans for purposes such as debt consolidation, medical emergencies, or home renovations.   
  * Personalised loan offers are based on the borrower’s profile and repayment capacity.   
  * A user-friendly platform that ensures transparency throughout the process. 

## **Loan Eligibility without CIBIL Score**

To qualify for loans via apps that do not emphasise CIBIL scores, applicants must meet the following criteria:

* The borrower usually should be at least 21 years old.   
* Applicants should have PAN and Aadhaar cards linked to a registered mobile number.   
* A functional salary account with internet banking or mobile banking capabilities is necessary.  
* A regular income source is crucial to demonstrate repayment capacity. 

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## **Documents Required** 

You would need the following documents:

* Proof of identity and income verification.  
* Address and identity verification.  
* Registered contact details linked to banking and identification.   
* Account information for loan disbursement.  
* Real-time photo for identity confirmation during KYC. 

## **How to Apply through Loan Apps with Low CIBIL Score?**

Follow these simple steps to apply for a low CIBIL personal loan:

1. Choose an app that offers loans without strict CIBIL requirements.  
2. Provide your mobile number and personal information.  
3. Submit PAN and Aadhaar for verification via OTP.  
4. Add your bank details for loan disbursal.  
5. Get tailored loan options based on your banking history.  
6. Accept the terms and apply for your loan.

## **Conclusion**

Loan apps designed for individuals with low CIBIL scores have emerged as a lifeline for those facing financial challenges. While they offer quick and accessible solutions, maintaining good financial habits remains crucial for long-term stability. By improving your CIBIL score over time, you can unlock better borrowing opportunities and enjoy greater financial freedom. 

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Low credit score loan apps.png

Top 10 Low credit score (CIBIL score) apps include indiagold, Moneyview, Earlysalary, Cashe, Flexsalary, Moneytap, Nira, etc

Low Cibil Score Loan: 10 Low Credit Score Loan Apps 2024

# **Canara Bank Gold Loan Interest Rates**

Canara Bank offers a gold loan scheme, popularly referred to as the Swarna Loan. This loan provides financial assistance by leveraging the value of your gold assets. With attractive features such as competitive interest rates and minimal processing charges, the scheme provides you with accessibility and convenience. Let’s learn all the details about this loan.

## **Canara Bank Gold Loan Details**

The gold loan from Canara Bank is relatively lower compared to unsecured loans. This rate ensures affordability and makes it a viable option for you if you are seeking funds against gold assets:

* **Canara Bank gold loan interest rate:** 9.25%

* **Loan amount:** Rs. 5,000 \- Rs. 35,00,000

* **Age limit:** From 18 years

* **Tenure:** 1 year

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## **Features of Canara Bank Gold Loan Schemes**

* **Quick processing:** Minimal documentation ensures a hassle-free application process. This allows you to access funds quickly. 

* **Affordable interest rates:** Offers competitive rates to make the loan affordable and reduce financial burden. 

* **Multipurpose interest rates:** You can use the loan for various needs, such as medical expenses, education, or business, subject to bank guidelines.

* **Flexible loan amount:** You can avail loan amounts ranging from Rs. 5 thousand to Rs. 35 lakh based on the gold’s value. 

* **Low processing fee:** The processing fee is nominal, making the loan accessible to a wide range of customers. 

* **Flexible repayment option:** The loan can be repaid within one year, and the interest is payable at maturity. 

* **No guarantor required:** Simplifies the process by eliminating the need for a guarantor. 

## **Canara Bank Gold Loan Rate Per Gram**

Canara Bank gold loan interest rate per gram is Rs. 3,725 to Rs. 4,000. This rate changes with the fluctuation of the value of gold. 

## **Canara Gold Loan Interest Rate**

This bank provides competitive interest rates on its three types of gold loans:

* **Swarna Loan:** 9.25%

* **Swarna Express:** 9.25%

* **Sharna Overdraft:** 9.25%

Apart from this, you have to pay Canara Bank gold loan appraiser charges (payment done to lenders for analysing the worth of the pledged gold). This value differs among individuals based on their gold assets. 

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## **How to Calculate Gold Loan Interest in Canara Bank?**

To calculate the interest rate on your Canara Bank gold loan EMI (equated monthly instalment), you can use the following formula:

EMI \= P x R x (1+R)^N / (1+R)^N \- 1

Where:   
P \= Loan amount  
R \= Rate of Interest (per month)  
N \= Loan tenure (in months)

For example, let’s say you take a gold loan of Rs. 60,000 at an annual interest rate of 9.25% for a tenure of 1 year. Using the formula:  
P \= Rs. 60,000  
R \= 0.7708%  
N \= 12 months

The EMI can be calculated as approximately Rs. 5,245. This formula helps you estimate the monthly repayment and plan finances effectively. 

## **Canara Bank Gold Loan Eligibility**

To avail of the Canara Bank gold loan, you must meet the following criteria:

* Indian residents aged 18 or above with a steady income source. 

* Existing Canara Bank account holders are eligible.

* New customers can also apply but must provide proof of creditworthiness. 

## **Documents Required for Canara Bank Gold Loan**

Applicants need to submit the following documents:

* **Loan application form:** Filled and signed.

* **KYC documents:** Includes Aadhaar, PAN, Voter ID, or Passport.

* **Proof of income:** Latest salary slip, form 16, or recent bank statement. 

* **Gold appraisal certificate:** Arranged by Canara Bank to assess the gold’s value.

## **Processing Charges of Canara Bank Gold Loan Scheme**

Canara Bank gold loan processing fee is reasonable and as follows:

* **Swarna loan:** 0.5% of the loan amount. Minimum Rs. 500 and maximum Rs. 5,000.

* **Swarna Express:** Processing charges are discounted by 50%.

* **Swarna Overdraft:** 0.5% of the loan amount, with the same minimum and maximum limits as the Swarna loan. 

## **Canara Bank Interest Rate Compared to Other Lenders**

The gold loan interest rates from Canara Bank start at 9.25%, making it one of the most competitive rates in the market. Compared to other banks:

| Bank | Interest rates |
| :---- | :---- |
| Axis bank | 9.35% onwards |
| HDFC bank | 9.30 onwards |
| Muthoot Fincorp | 11.99% onwards |


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## **How to Apply for Canara Bank Gold Loan Schemes**

To apply for the loan, follow these steps:

1. Visit the nearest Canara Bank branch. 

2. Consult a bank representative who will guide you through the application process.

3. The bank will arrange for a certified appraiser to evaluate your gold items. 

4. Based on the appraisal, the maximum loan amount will be determined. 

5. Upon approval, the loan amount will be disbursed promptly. 

## **How to Pay Canara Bank Loan?**

Canara Bank offers a convenient Bullet Repayment Method for gold loan repayment:

1. You can repay the entire principal and accumulated interest at the end of the loan tenure (up to 12 months).

2. Interest is calculated monthly and added to the principal amount.

3. Customers can choose the loan tenure based on their repayment capacity, ensuring flexibility. 

This repayment method provides financial ease, as you are not required to make monthly payments. 

## **How to Close Canara Bank Gold Loans?**

Closing your Canara Bank gold loan involves completing the repayment of the outstanding amount within the agreed tenure. The process is simple and borrower-friendly:

* Opt for the Bullet Repayment Method, where the entire principal and interest amount is paid at the end of the tenure, typically within 12 months.

* Interest is calculated monthly and added to the principal amount. This makes it essential to plan repayment carefully to avoid financial strain. 

* Choosing a tenure that aligns with your repayment capacity can ease the process and maintain your financial health. 

This flexible repayment structure is designed to accommodate your convenience and financial needs.

## **Canara Bank Gold Loan Contact Number**

For any queries or assistance regarding Canara Bank gold loans, you can contact their customer support team through the following numbers:

* Toll-free number: 18001030

* Other contact numbers: 080-22115526 / 080-22221581

The bank’s representatives are available to guide you through the loan application process, answer questions about the loan, and resolve any concerns. 

## **Conclusion** 

A gold loan from Canara Bank is a reliable and accessible financial solution for various needs. With competitive interest rates, flexible repayment options, and prompt customer support, it ensures you can achieve your financial goals without unnecessary hassle. 

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Canara Bank Gold Loan, Gold Loan, Canara Bank Gold Loan Interest Rate

Canara Bank Gold Loan per gram in 2024 | IndiaGold 

Canara Bank Gold Loan Per Gram Rate of Today is ₹ 3,725 to ₹ 4,000. Get a better Per gram rate of ₹4,293 - ₹4,865 & interest rate of just 0.77%* per month at Indiagold.