Banks and NBFCs offering the cheapest gold loans right now check interest rate EMI other details varpat

New Delhi. Gold loan helps a lot in meeting financial needs. Then whether it requires money for business, sudden expenses or in situations like emergency, it helps you. Gold loan is also cheaper than personal loan. Banks and non-banking financial companies (NBFCs) offer gold loans. This loan is one of the cheapest and most hassle free options for availing instant cash. Today, we will tell you about a bank where gold loan is available at low interest rate.

Anyone can take gold loan
Let us know that anyone above 18 years can take a gold loan. However, before applying for a gold loan, make sure that the value of your pledged gold is sufficient to meet your financial needs. Note that the price of 24-carat gold for 10 grams in August is over 56,000 rupees soon after slipping. After falling below about Rs 44,000 (10 grams of 24-carat gold) in March, gold prices have started picking up in April.

Also read- Start this business by applying 25 thousand rupees, it will earn up to 3 lakhs every month, the government will give 50% subsidyHere, check gold loan interest rates

1. Punjab & Sind Bank: Rate of Interest- 7.00%, EMI- Rs 15,439
2. Bank of India: Interest rate – 7.35%, EMI – Rs 15,519
3. SBI – Interest Rate – 7.50%, EMI – Rs 15,553
4. Canara Bank: Interest Rate – 7.65%, EMI – Rs 15,588
5.Karnataka Bank: Rate of interest- 8.42%, EMI- Rs 15,765
6. Indian Bank: Rate of interest – 8.50%, EMI – Rs 15,784
7. UCO Bank: Interest Rate – 8.50%, EMI – Rs 15,784
8. Federal Bank: Interest Rate – 8.50%, EMI – Rs 15,784
9. PNB: Interest Rate – 8.75%, EMI – Rs 15,784
10. Union Bank: Rate of interest – 8.85%, EMI – Rs 15,865

Also read- In this scheme of Post Office, earn 14 lakh rupees by depositing only 95 rupees, know how?

These documents have to be given
Voter I card, Aadhaar or PAN has to be given as an identity card for a gold loan. At the same time, you can pay electricity or telephone bills for address proof. Apart from this, photographs will also have to be given. Income proof may also have to be given on the demand of the bank. Different banks have different accounts. You can get a gold loan from minimum 20 thousand rupees to 25 lakh rupees. The loan repayment period can be from three months to three years.

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