Compare Yes Bank vs PNB Gold Loan

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Bank	SBI Muthoot Manappuram HDFC Bank Yes Bank ICICI Bank Federal Bank Canara Bank Andhra Bank Axis Bank IndusInd Bank Fincare Small Finance Bank	SBI Muthoot Manappuram HDFC Bank ICICI Bank Federal Bank Canara Bank Andhra Bank Axis Bank IndusInd Bank PNB Fincare Small Finance Bank
Interest Rate	Interest Rate 9.99% - 9.99%	8.15% - 8.40%
Processing Fees	Processing Fees 0.1% of loan amount	0.70% of loan amount + taxes
Loan Amount	Loan Amount ₹ 25,000 to ₹ 10 Lakh	₹ 1,000 to ₹ 10 Lakh
Loan Tenure	Loan Tenure 6 months to 36 months	1 month to 12 months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,226	₹ 8,706
Foreclosure Charges	Foreclosure Charges 1%	Nil
EMI Scheme	EMI Scheme Y	Y
Bullet Repayment Scheme	Bullet Repayment Scheme Y	Y
Overdraft Scheme	Overdraft Scheme Y	Y
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.7/5.0	4.7/5.0

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Compare Gold Loan EMI of Yes Bank and PNB

Loan Amount	Yes Bank	PNB
₹ 50,000	₹ 1,613	₹ 1,570
₹ 1 Lakh	₹ 3,226	₹ 3,141
₹ 5 Lakh	₹ 16,131	₹ 15,703
₹ 10 Lakh	₹ 32,262	₹ 31,406

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

As per the current rates, PNB offers a lower interest rate of 8.15% on Gold Loan when compared to Yes Bank which offers a Gold Loan at 9.99%.

How does PNB Gold Loan compare with Yes 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 PNB and Yes 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 PNB Gold Loan interest rate is 8.15%, which is lower than the lowest interest rate of Yes Bank at 9.99% and hence, PNB is offering a cheaper loan option.
Compared to other Gold Loan charges such as processing fees, Yes Bank charges a processing fee of 0.1% of loan amount while PNB charges a processing fee of 0.70% of loan amount + taxes.
Yes Bank allows prepayment facility on gold loan to close the loan before the tenure at 1% charges while PNB offers prepayment facility at Nil. You can choose the option with lower charges to close the high value amount.
PNB 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 PNB.

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

PNB 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.
PNB and Yes Bank 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 and 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 - 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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