MyLoanCare is a FREE of cost service for borrowers

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

MyLoanCare Customer Ratings - 4.5/5.0

Compare PNB vs Andhra Bank Gold Loan

Download Comparison
Bank
Interest Rate
Interest Rate
8.15% - 8.40%
7.35% - 7.50%
Processing Fees
Processing Fees
0.70% of loan amount + taxes
Nil processing fees
Loan Amount
Loan Amount
₹ 1,000 to ₹ 10 Lakh
₹ 10,000 to ₹ 2 Cr
Loan Tenure
Loan Tenure
1 month to 12 months
3 months to 12 months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 8,706
₹ 8,669
Foreclosure Charges
Foreclosure Charges
Nil
Nil
EMI Scheme
EMI Scheme
Y
N
Bullet Repayment Scheme
Bullet Repayment Scheme
Y
Y
Overdraft Scheme
Overdraft Scheme
Y
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
Add Bank

Compare Gold Loan EMI of PNB and Andhra Bank

Loan Amount PNB Andhra Bank
₹ 50,000 ₹ 4,353 ₹ 4,334
₹ 1 Lakh ₹ 8,706 ₹ 8,669
₹ 5 Lakh ₹ 43,529 ₹ 43,344
₹ 10 Lakh ₹ 87,058 ₹ 86,688

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

As per the current rates, Andhra Bank offers a lower interest rate of 7.35% on Gold Loan when compared to PNB which offers a Gold Loan at 8.15%.

How does Andhra Bank Gold Loan compare with PNB 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 PNB 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 7.35%, which is lower than the lowest interest rate of PNB at 8.15% and hence, Andhra Bank is offering a cheaper loan option.
  • Compared to other Gold Loan charges such as processing fees, PNB charges a processing fee of 0.70% of loan amount + taxes while Andhra Bank charges a processing fee of Nil processing fees.
  • PNB allows prepayment facility on gold loan to close the loan before the tenure at Nil charges while Andhra Bank offers prepayment facility at Nil. You can choose the option with lower charges to close the 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 PNB and Andhra Bank.

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

  • PNB 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.
  • Andhra Bank and PNB 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 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.
  • One unique feature of PNB is its overdraft facility which allows borrowers to minimize their interest outgo by paying interest only on the loan amount utilized. This scheme makes it an apt choice for self-employed and businessmen with fluctuating fund requirements.

Popular Search for PNB Gold Loan

Popular Search for Andhra Bank Gold Loan

Compare PNB 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 8.15%. 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 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 8.10%. 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 7.05%.

    Invest Now
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
Loader
Please wait while your information is being processed...