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Gold Loan in Chennai 2022

Apply for Gold loan in Chennai

Last Updated 22nd May 2022

  • Gold loan interest rate in Chennai starts at 9.00%.
  • The LTV ratio for gold loans goes up to 75% of the value of the gold.
  • You can avail a gold loan in Chennai from top Banks like SBI, Axis Bank, Yes Bank, PNB and ICICI Bank among others.
  • Best Gold Loans in Chennai are offered by Muthoot and Manapurram.
  • Apply for Instant Gold Loan online in Chennai without income proof.
Apply for Gold Loan @ 9.00%* Get upto ₹ 500* Voucher
Chennai

Gold Loan in Chennai

Gold loan is a popular credit facility in Chennai. There are many gold loan companies in Chennai that offer gold loans at affordable interest rates. The loan is availed by keeping the gold as mortgage to borrow a loan amount as per the LTV ratio of the gold which ranges up to 75% as per RBI Guidelines. Gold loan interest rate in Chennai begins from 9.00%.

Documents Required for Gold Loan in Chennai

Gold loans are the easiest to avail credit facility in Chennai. This is because the loan can be borrowed by people from all occupations and backgrounds. Therefore, the document check is also limited to identity and address proofs.

A list of documents required to avail a gold loan in Chennai are mentioned as follows:

  • Gold loan application form
  • Passport size photographs
  • Identity proofs such as Passport, voter ID card, PAN card and Aadhar card
  • Address proof such as passport, driving license, aadhar card, rent agreement, Voter iD card and utility bills such as water electricity, gas, or telephone bill

Top Banks Offers Jewel Loan in Chennai

Bank Interest Rate Loan Tenure Maximum Loan Amount
Axis Bank14.00%24 months₹ 20 Lakh
ICICI Bank10.00%12 months₹ 10 Lakh
IndusInd Bank9.00%24 months₹ 10 Lakh
Yes Bank9.99%36 months₹ 10 Lakh
PNB7.65%12 months₹ 10 Lakh
SBI7.50%36 months₹ 50 Lakh
HDFC Bank9.00%24 months₹ 10 Lakh
Federal Bank7.39%12 months₹ 75 Lakh
Andhra Bank7.35%12 months₹ 2 Cr
Canara Bank7.65%12 months₹ 20 Lakh

About Chennai

Chennai is a metropolis city of India in Tamil Nadu state. The city serves as a gateway city of South India. Chennai is a vibrant city ever growing, expanding and changing every year.

Reasons to Apply for Gold Loan

Gold loan for Rent Payment

In Chennai city there are many lenders who offer gold loan for a purpose to pay a rent of a residential property or a commercial property. You will get the lowest rate of 9.00% Muthoot Bank.

Gold loan to Purchasing a Car (New/Old)

If your car loan is not getting approved due to any reason and you have idle gold lying then you can apply for gold loan. This loan amount will help you meet the expenses to buy a car. You can avail the loan instantly by applying through a lenders app.

FAQs

What is the interest rate for gold loan Chennai?

Gold loan interest rate in Chennai varies across various gold loan lenders. However, currently, the lowest gold loan interest rate in Chennai is 9.00%.

Which bank is best for gold loan Chennai?

Currently, Axis Bank offers the lowest gold loan interest rate in Chennai of 9.00%. In addition to that, Axis Bank offers the maximum loan amount on Axis Bank gold loan of ₹ 2 Cr and can be the best bank for high-value loan requirements.

What is the maximum tenure for gold loan in Chennai?

You can get a loan against gold in Chennai for a maximum tenure of 36 months. However, the gold loan tenure for every lender is different.

What is the procedure of getting a gold loan for defaulters in Chennai?

The procedure to avail a gold loan is easy when compared to other types of loan, even for defaulters. Lenders do not check your credit score because anyway in gold loan your gold is mortgaged. If you will not repay the loan then your gold will be kept by the bank.

Who can apply for a loan against gold in Chennai?

The eligibility criteria for a loan against gold in Chennai may vary for every lender. The general criteria is, you should be above 18 years and have gold jewellery above 18 karat.

Is it safe to take a gold loan from Muthoot Finance Chennai and what are the timings and contact number of Muthoot Finance Chennai?

Yes, it is safe to take a gold loan from Muthoot Finance Chennai because it has A+ rating from CRISIL. You can visit the nearest branch anytime between 9:30 am to 6 pm or contact at 1800-102-1616.

Is it possible to get an instant gold loan from Manappuram gold loan in Chennai?

Yes, you can take an instant gold loan from Manappuram. You can avail Manappuram gold loan with minimal documentation. Also, you get free insurance for your gold from this bank.

What are the best gold loan companies in Chennai?

Axis Bank, HDFC Bank are the best companies for gold loan in Chennai. These lenders offer loans at a lowest interest rate of 9.00% respectively.


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