Compare Gold Loan - IndusInd Bank vs Yes Bank
| Bank | ||
|---|---|---|
| Parameters | ||
| Interest Rate | Interest Rate 10.00% - 16.00% |
9.99% - 14.50% |
| Processing Fees | Processing Fees Upto 1% of loan amount, minimum Rs. 750 |
0.75% or Rs 500 to 799, whichever is higher |
| Loan Amount | Loan Amount ₹ 10,000 to ₹ 10 Lakh |
₹ 25,000 to ₹ 50 Lakh |
| Loan Tenure | Loan Tenure 3 months to 12 months |
6 months to 36 months |
| Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 8,792 |
₹ 3,226 |
| Foreclosure Charges | Foreclosure Charges Upto 1% of outstanding amount |
1% |
| EMI Scheme | EMI Scheme N |
Y |
| Bullet Repayment Scheme | Bullet Repayment Scheme Y |
N |
| Overdraft Scheme | Overdraft Scheme N |
Y |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
4.7/5.0 |
Compare EMI of IndusInd Bank and Yes Bank Gold Loan
| Loan Amount | IndusInd Bank | Yes Bank |
|---|---|---|
| ₹ 50,000 | ₹ 5,279 | ₹ 5,284 |
| ₹ 1 Lakh | ₹ 10,558 | ₹ 10,568 |
| ₹ 5 Lakh | ₹ 52,791 | ₹ 52,841 |
| ₹ 10 Lakh | ₹ 1,05,582 | ₹ 1,05,683 |
Which bank offers lower interest rate on Gold Loan – Yes Bank or IndusInd Bank?
As per the current rates, Yes Bank offers a lower interest rate of 9.99% on Gold Loan when compared to IndusInd Bank which offers a Gold Loan at 10.00%.
How does Yes Bank Gold Loan compare with IndusInd 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 Yes Bank and IndusInd 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.
You must select the bank of your choice after evaluating the advantages and disadvantages of IndusInd Bank and Yes Bank.
What are the best repayment options available on Gold Loan – Yes Bank or IndusInd Bank?
How can I choose the best bank for Gold Loan?
You can choose the best bank for a Gold Loan by making a detailed comparison between top lenders on the basis of interest rates, processing fee or Gold Loan offers. Apart from that, you can visit online marketplaces like MyLoanCare to choose the best Gold Loan offer. Here, you will get the option of choosing the best bank amongst the shortlisted ones based on your loan requirement.
Which type of Gold Loan is the cheapest?
The cheapest Gold Loan is the one that is offered at the lowest Gold Loan interest rates. This is because the lowest Gold Loan interest rates mean the lowest EMI, as the interest charged will be less. Thus, these loans can be attained with the least repayment burden. Currently, Yes Bank offers the cheapest Gold Loan at 9.99%.
How do I check my eligibility for IndusInd Bank and Yes Bank Gold Loan?
You can check your eligibility for IndusInd Bank and Yes Bank Gold Loan by using MyLoanCare Gold Loan eligibility calculator. You have to enter details like required loan amount and weight of gold to check the amount of loan you are eligible for. You can apply loan for the eligible amount to repay the EMI you can comfortably service.
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- 2021-02-25 : SBI offered customers to apply for the gold loan via call or SMS
Customers can now apply for the gold loan from SBI by giving a missed call on 7208933143 or SMS GOLD at 7208933145, and the bank will then respond with a callback. A minimum loan amount of Rs 20,000 up to a maximum of Rs 50 lakh is sanctioned by the bank. - 2021-02-19 : Loan growth is back to pre covid levels
Credit bureau TransUnion Cibil and MSME lender SIDBI reported that the loan growth is again back to pre covid levels. The revival was mainly due to the Emergency Credit Line Guarantee Scheme by public sector banks. - 2021-02-08 : RBI keeps the policy rate unchanged
The RBI has decided to keep the policy repo rate unchanged at 4.0%. The reverse repo rate remains unchanged at 3.35% and the MSF rate and the Bank Rate at 4.25%. Further, it decided to continue with the accommodative stance to revive growth and mitigate the impact of COVID-19, while keeping a check on the inflation. The stance of keeping the repo rate unchanged will impact retail loans retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans. - 2021-02-08 : PNB reported net profit of 506 crores
PNB posted an 18.5% year-on-year decline in its net profit to Rs 506 crore for the quarter ended December. Further, the bank reported net interest income on the back of retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans at Rs 8,313 crore. - 2021-02-05 : Punjab and Sind Bank reported a loss of Rs. 2375 crores
Punjab & Sind Bank net loss in December quarter 2020-21 spiralled to Rs 2,375.53 crore on higher provisions for bad loans. Total income fell to Rs 1,982.52 crore from Rs 2,077.01 crore in the same period of 2019-20. Further, Net income fell 9.1% to Rs 1,763.10 crore and income on investments was down 12.1% to Rs 455.42 crore.
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