Here's a list of 5 banks offering gold loans at cheapest interest rates.
Gold loan interest rates: At a time of money crunch, a gold Loan can turn out to be an excellent choice for you. Here is information on gold loan offers that banks are offering if you are considering taking a gold loan. People typically prefer to invest in gold. People can also use it in difficult circumstances.
The gold loan is a fantastic loan option in the modern day. These loans get accepted more quickly. Know which bank is providing loans with the lowest interest rates.
Banks which offer gold loans at cheap interest rates:
Compared to other loans, a gold loan is authorised in a fairly short period of time. Here are five banks that offer gold loans with cheap interest rates. A gold loan might be an excellent option for you if you need money and want to take out a loan.
1. Customers of the Indian Bank (Federal Bank) can borrow gold at a fluctuating interest rate of 7 per cent. The processing charge is 0.56 per cent of the sanctioned cap.
Also read: ICICI Bank, Tata Consultancy Services to launch digital lending platform iLens, know details
2. The Central Bank of India offers gold loans with interest rates ranging from 7.10 to 7.20 per cent. As a processing charge, you will be required to pay 0.75 per cent of the loan amount.
3. Union Bank of India, a public institution, offers gold loans with interest rates ranging from 7.25 to 7.50 per cent.
4. The public sector UCO Bank offers gold loans at rates ranging from 7.40 to 7.90 per cent. The processing charge is between 250 and 5000 rupees.
5. The private sector HDFC Bank offers gold loans at rates ranging from 7.60 per cent to 16.81 per cent. As a processing fee, you will be required to pay 1 per cent of the disbursal amount.
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