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Compare Manappuram vs ICICI Bank Gold Loan

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Interest Rate
Interest Rate
7.00% - 29.00%
10.00% - 17.95%
Processing Fees
Processing Fees
₹ 10 (to be paid at time of settlement)
1% of the loan amount
Loan Amount
Loan Amount
₹ 1,000 to ₹ 10 Lakh
₹ 10,000 to ₹ 10 Lakh
Loan Tenure
Loan Tenure
1 day to 6 Months
6 months to 12 months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 17,009
₹ 8,792
Foreclosure Charges
Foreclosure Charges
1% of loan outstanding
EMI Scheme
EMI Scheme
Bullet Repayment Scheme
Bullet Repayment Scheme
Overdraft Scheme
Overdraft Scheme
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Gold Loan EMI of Manappuram and ICICI Bank

Loan Amount Manappuram ICICI Bank
₹ 50,000 ₹ 8,504 ₹ 8,578
₹ 1 Lakh ₹ 17,009 ₹ 17,156
₹ 5 Lakh ₹ 85,043 ₹ 85,781
₹ 10 Lakh ₹ 1,70,086 ₹ 1,71,561

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

As per the current rates, Manappuram offers a lower interest rate of 7.00% on Gold Loan when compared to ICICI Bank which offers a Gold Loan at 10.00%.

How does Manappuram Gold Loan compare with ICICI 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 Manappuram and ICICI 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 Manappuram Gold Loan interest rate is 7.00%, which is lower than the lowest interest rate of ICICI Bank at 10.00% and hence, Manappuram is offering a cheaper loan option.
  • Compared to other Gold Loan charges such as processing fees, Manappuram charges a processing fee of ₹ 10 (to be paid at time of settlement) while ICICI Bank charges a processing fee of 1% of the loan amount.
  • Manappuram allows prepayment facility on gold loan to close the loan before the tenure at Nil charges while ICICI Bank offers prepayment facility at 1% of loan outstanding. You can choose the option with lower charges to close the high value amount.
  • ICICI Bank has an average customer rating of 5, while Manappuram has an average customer rating of 4.3, based on which it is clear that ICICI Bank has a high customer service focus, an easy Gold Loan process and a quick turnaround.

You must select the bank of your choice after evaluating the advantages and disadvantages of Manappuram and ICICI Bank.

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

  • ICICI 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.
  • Manappuram offers 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 the 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 - Aug 2022
  • 2022-08-10 : SBI gold loans cross the 1 Lakh crore mark.
    Capturing almost a fourth of the total market, SBI has crossed the 1 lakh crore milestone. More growth concerning gold loans is expected in the current fiscal. The first quarter of the current fiscal has seen better traction than the previous year and is expected to grow well, said chairman Dinesh Khara.
  • 2022-05-13 : PNB Revises Gold Loan Rates
    Punjab National Bank has increased the rates on gold loans, and as a result, the bank offers the lowest rates starting at 7.55%. Earlier, the rate was 7.25%.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
  • 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
  • 2022-05-10 : Federal Bank Changes Interest Rates on Gold Loans
    Federal Bank has increased the gold loan interest rates, and thus you can now avail of loans starting at 7.39%
*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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