Government bank, Indian Bank is giving the cheapest gold loan. The rate of this bank is 7 percent. Gold loan is being given to customers at the rate of 7 percent on floating rate. 0.56 per cent of the gold loan amount will have to be paid as processing fee.
Cheapest Gold Loan Available in 5 Banks (File Photo-PTI)
Expenses suddenly increase during the festive season. On going out in the market, it is not known how much money went out of pocket. If you like any item in this, then the idea of taking it becomes. Sometimes it happens that the choice is made, but there is no money to take it. Especially Gold Or this happens often in taking silver jewellery. If such a situation arises, then a loan proves to be a good medium. By asking for a loan from someone, the loan comes in your account in good minutes. After that you can shop comfortably. Gold loan is the best among this type of loan. Gold loan plays its best role in case of any medical emergency in between festivals.
In such a situation, it becomes important for you to know which bank is giving cheap gold loan at present. If you have made up your mind to take a gold loan, then definitely check the list of rates of banks once. This will make your work easier.
1-Indian Bank
Government bank, Indian Bank is giving the cheapest gold loan. The rate of this bank is 7 percent. Gold loan is being given to customers at the rate of 7 percent on floating rate. 0.56 per cent of the gold loan amount will have to be paid as processing fee.
2-Central Bank of India
Central Bank of India is also a government bank from where you can take a gold loan. The Central Bank is currently giving gold loans at the rate of 7.10 percent to 7.20 percent. 0.75% of the loan amount will have to be paid as processing fee.
3-Union Bank
Government bank, Union Bank is also giving cheap gold loan to the customers. This bank is providing gold loan at the rate of 7.5 percent to 7.5%. To know the processing fee of this bank, you have to contact the branch.
4-UCO Bank
Government Bank, UCO Bank is currently offering Gold Loan at the rate of 7.40 percent to 7.90 percent. For processing fee, you will have to pay a maximum fee of Rs 250 to Rs 5000.
5-HDFC Bank
HDFC Bank is at the fifth position in the list of gold loans (according to ETIG), which is giving loans to customers at the rate of 7.60 to 16.81 percent. 1% charge of the loan amount will have to be paid as processing fee.
loan documents
- To take a gold loan, you have to submit some documents. These documents are the same for almost every bank.
- two passport size photographs
- Any ID card with photo. It can be driving license, passport, voter ID card, Aadhar card or ration card.
- For residence proof, it can be driving license, passport, voter ID card, Aadhar card, ration card, job card of NREGA.
- If you are taking gold loan for agriculture then land holding paper. This rule is applicable for loans above 1 lakh.