MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹500* on Gold Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare Gold Loan - Manappuram vs Andhra Bank

Download Comparison
Bank
Parameters
Interest Rate
Interest Rate
9.90% - 29.00%
7.60% - 9.10%
Processing Fees
Processing Fees
₹ 10 (to be paid at time of settlement)
Nil processing fees
Loan Amount
Loan Amount
₹ 1,000 to ₹ 10 Lakh
₹ 10,000 to ₹ 2 Cr
Loan Tenure
Loan Tenure
1 day to 3 Months
3 months to 12 months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 33,885
₹ 8,680
Foreclosure Charges
Foreclosure Charges
Nil
Nil
EMI Scheme
EMI Scheme
N
N
Bullet Repayment Scheme
Bullet Repayment Scheme
Y
Y
Overdraft Scheme
Overdraft Scheme
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.3/5.0
4.3/5.0
Add Bank

Compare EMI of Manappuram and Andhra Bank Gold Loan

Loan Amount Manappuram Andhra Bank
₹ 50,000 ₹ 16,942 ₹ 16,878
₹ 1 Lakh ₹ 33,885 ₹ 33,756
₹ 5 Lakh ₹ 1,69,424 ₹ 1,68,782
₹ 10 Lakh ₹ 3,38,848 ₹ 3,37,564

Which bank offers lower interest rate on Gold Loan – Andhra Bank or Manappuram?

As per the current rates, Andhra Bank offers a lower interest rate of 7.60% on Gold Loan when compared to Manappuram which offers a Gold Loan at 9.90%.

How does Andhra Bank Gold Loan compare with Manappuram 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 Andhra Bank and Manappuram 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 Andhra Bank Gold Loan interest rate is 7.60%, which is lower than the lowest interest rate of Manappuram at 9.90% and hence, Andhra Bank is offering a cheaper loan option.
  • When compared on other Gold Loan charges such as processing fees, Manappuram charges a processing fee of ₹ 10 (to be paid at time of settlement) while Andhra Bank charges a processing fee of Nil processing fees.
  • Andhra Bank offers Gold Loan upto an amount of ₹ 2 Cr while Manappuram offer Gold Loan upto an amount of ₹ 10 Lakh. Andhra Bank can be a better option if you are looking for a high value amount.
  • Manappuram allows prepayment facility on gold loan to close the loan before the tenure at Nil while Andhra Bank offers prepayment facility at Nil charges. You can choose the option with lower charges to close high value amount.
  • Andhra Bank with an average customer rating of 4.3 is equally comparable to Manappuram with an average customer rating of 4.3, 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 Manappuram and Andhra Bank.

What are the best repayment options available on Gold Loan – Andhra Bank or Manappuram?

  • Andhra Bank and Manappuram 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.

Popular Gold Loans Tools

Popular Search for Manappuram Gold Loan

Popular Search for Andhra Bank Gold Loan

Compare Manappuram Gold Loan With Other Banks

Compare Andhra Bank Gold Loan With Other Banks

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.65%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Gold Loan News - Jul 2021
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
    Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
*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
Loader
Please wait while your information is being processed...