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Compare Gold Loan - Yes Bank vs Fincare Small Finance Bank

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Bank
Parameters
Interest Rate
Interest Rate
9.99% - 9.99%
10.99% - 24.99%
Processing Fees
Processing Fees
0.48
Upto 0.5%
Loan Amount
Loan Amount
₹ 25,000 to ₹ 50 Lakh
₹ 10,000 to ₹ 40 Lakh
Loan Tenure
Loan Tenure
6 months to 36 months
3 Months to 9 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,226
₹ 11,626
Foreclosure Charges
Foreclosure Charges
1%
NIL
EMI Scheme
EMI Scheme
Y
Y
Bullet Repayment Scheme
Bullet Repayment Scheme
N
Y
Overdraft Scheme
Overdraft Scheme
Y
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.7/5.0
4.7/5.0
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Compare EMI of Yes Bank and Fincare Small Finance Bank Gold Loan

Loan Amount Yes Bank Fincare Small Finance Bank
₹ 50,000 ₹ 1,613 ₹ 1,637
₹ 1 Lakh ₹ 3,226 ₹ 3,273
₹ 5 Lakh ₹ 16,131 ₹ 16,367
₹ 10 Lakh ₹ 32,262 ₹ 32,734

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

As per the current rates, Yes Bank offers a lower interest rate of 9.99% on Gold Loan when compared to Fincare Small Finance Bank which offers a Gold Loan at 10.99%.

How does Yes 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 Yes 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 Yes Bank Gold Loan interest rate is 9.99%, which is lower than the lowest interest rate of Fincare Small Finance Bank at 10.99% and hence, Yes Bank is offering a cheaper loan option.
  • When compared on other Gold Loan charges such as processing fees, Yes Bank charges a processing fee of 0.48 while Fincare Small Finance Bank charges a processing fee of Upto 0.5%.
  • Yes Bank offers Gold Loan upto an amount of ₹ 50 Lakh while Fincare Small Finance Bank offer Gold Loan upto an amount of ₹ 40 Lakh. Yes Bank can be a better option if you are looking for a high value amount.
  • Yes Bank allows prepayment facility on gold loan to close the loan before the tenure at 1% while Fincare Small Finance Bank offers prepayment facility at NIL charges. You can choose the option with lower charges to close high value amount.
  • Fincare Small Finance Bank with an average customer rating of 4.7 is equally comparable to Yes Bank with an average customer rating of 4.7, 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 Yes Bank and Fincare Small Finance Bank.

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

  • Fincare Small Finance Bank and Yes Bank offer 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 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 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 Yes Bank 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.

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Gold Loan News - Jun 2021
  • 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.
  • 2021-06-10 : Expected Gold Loan growth of more than 15%
    Considering the constant rise in demand, Muthoot Finance group is expecting a growth in Gold Loan of 15% or higher in the next financial year.
  • 2021-06-01 : Karur Vysya Bank posted 24% growth in Q4 net
    Karur Vysya Bank posted a 24% rise in its net profit at Rs 104 crore in the last quarter of the fiscal ended March 2021. The profit was boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The lender credit growth during the year was higher at 8.87% and gross advances reached Rs 52,820 crore.
*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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