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Compare Gold Loan - IndusInd Bank vs Fincare Small Finance Bank

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Bank
Parameters
Interest Rate
Interest Rate
10.50% - 16.00%
10.99% - 24.99%
Processing Fees
Processing Fees
Upto 1% of loan amount, minimum ₹ 750
Upto 0.5%
Loan Amount
Loan Amount
₹ 10,000 to ₹ 10 Lakh
₹ 10,000 to ₹ 40 Lakh
Loan Tenure
Loan Tenure
3 months to 24 months
3 Months to 9 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 4,638
₹ 11,626
Foreclosure Charges
Foreclosure Charges
Upto 1% of outstanding amount
NIL
EMI Scheme
EMI Scheme
N
Y
Bullet Repayment Scheme
Bullet Repayment Scheme
Y
Y
Overdraft Scheme
Overdraft Scheme
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of IndusInd Bank and Fincare Small Finance Bank Gold Loan

Loan Amount IndusInd Bank Fincare Small Finance Bank
₹ 50,000 ₹ 2,319 ₹ 2,330
₹ 1 Lakh ₹ 4,638 ₹ 4,660
₹ 5 Lakh ₹ 23,188 ₹ 23,302
₹ 10 Lakh ₹ 46,376 ₹ 46,603

Which bank offers lower interest rate on Gold Loan – IndusInd Bank or Fincare Small Finance Bank?

As per the current rates, IndusInd Bank offers a lower interest rate of 10.50% on Gold Loan when compared to Fincare Small Finance Bank which offers a Gold Loan at 10.99%.

How does IndusInd Bank Gold Loan compare with Fincare Small Finance Bank Gold Loan?

Gold Loan or Jewel Loan is an easy loan to get instant credit without the need to have a good credit score and income documents. Anyone is eligible to get the gold loan, provided the person has 18-22 carat gold jewelry to offer as collateral. Hence, while comparing IndusInd Bank and Fincare Small Finance Bank for gold loan and choosing the best bank, it is important to compare three factors which are their rate of interest, gold loan per gram eligibility as well as repayment options such as EMI, Bullet and Overdraft.

  • Lowest IndusInd Bank Gold Loan interest rate is 10.50%, which is lower than the lowest interest rate of Fincare Small Finance Bank at 10.99% and hence, IndusInd Bank is offering a cheaper loan option.
  • When compared on other Gold Loan charges such as processing fees, IndusInd Bank charges a processing fee of Upto 1% of loan amount, minimum ₹ 750 while Fincare Small Finance Bank charges a processing fee of Upto 0.5%.
  • Fincare Small Finance Bank offers Gold Loan upto an amount of ₹ 40 Lakh while IndusInd Bank offer Gold Loan upto an amount of ₹ 10 Lakh. Fincare Small Finance Bank can be a better option if you are looking for a high value amount.
  • IndusInd Bank allows prepayment facility on gold loan to close the loan before the tenure at Upto 1% of outstanding amount while Fincare Small Finance Bank offers prepayment facility at NIL charges. You can choose the option with lower charges to close high value amount.
  • with an average customer rating of is equally comparable to with an average customer rating of , and hence, the customer can expect the same kind of service levels from these banks.

You must select the bank of your choice after evaluating the advantages and disadvantages of IndusInd Bank and Fincare Small Finance Bank.

What are the best repayment options available on Gold Loan – IndusInd Bank or Fincare Small Finance Bank?

  • Fincare Small Finance Bank offers EMI Scheme on gold loan to repay the loan in equal installments every month till the end of the tenure. This scheme is apt for salaried applicants who have monthly cash inflows to their bank accounts.
  • Fincare Small Finance Bank and IndusInd Bank offer bullet repayment scheme which allows borrowers to pay the lump sum at the end of loan tenure. The interest is calculated every month, however the amount is to paid at the end of term. This scheme is suitable for those who have near-term cash flow issues and they do not have to worry about paying the loan immediately.

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Gold Loan News - Jun 2021
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    Ujjivan Small Finance Bank has collaborated with customer engagement platform MoEngage to provide digital banking services in remote areas of the country. The aim is to build a wide presence of the bank with customers in the unserved regions through digital services.
  • 2021-06-15 : Indian Overseas Bank declared a profit of Rs 831 crore
    IOB closed the last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. IOB plans to come up with Prompt Corrective Action to focus on loan recovery, low-cost deposits and less capital consuming advances.
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 2021-06-10 : Indiagold became the first company to offer a loan against digital gold
    The Gurugram-based company is offering loans of upto Rs. 60,000 against digital gold. It will be charging an interest rate of 1% on all the loans offered.
  • 2021-06-10 : Rural Loan Collections to be affected by the Second wave
    As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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