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Lowest Gold Loan Interest Rates

Low Interest Gold Loan Rates: Top 5 Banks

Last Updated 25th May 2022

Currently, IndusInd Bank and HDFC Bank offer the lowest gold loan interest rate of 9.00% for a tenure upto 24 months and hence, is one of the best banks for gold loan. The processing fee levied on a IndusInd Bank gold loan is upto Upto 1% of loan amount, minimum ₹ 750.

Banks Interest Rate Processing Fees Tenure
IndusInd Bank9.00%Upto 1% of loan amount, minimum ₹ 7503 months to 24 months
HDFC Bank9.00%0.50% of the loan amount3 months to 24 months
Yes Bank9.99%0.1% of loan amount6 months to 36 months
ICICI Bank10.00%1% of the loan amount6 months to 12 months
Fincare Small Finance Bank10.99%Upto 0.5%3 Months to 9 Months
    Apply for Gold Loan @ 9.00%* Get upto ₹ 500* Voucher

    Lowest Gold Loan Interest Rates Offered by Top Banks

    To get the lowest gold loan interest rates in 2022, you must compare the gold loan rates of top lenders. As per the current rates, IndusInd Bank and HDFC Bank provide gold loans at the lowest rates starting at 9.00%. Along with that, you must also look out for various other charges such as gold loan processing fees, prepayment charges etc. Here is a list of other banks that offer the lowest gold loan rate of interest.

    Bank Low Interest Rates Processing Fees Prepayment Charges
    IndusInd Bank
    Compare
    9.00%Upto 1% of loan amount, minimum ₹ 750Upto 1% of outstanding amount
    HDFC Bank
    Compare
    9.00%0.50% of the loan amountZero prepayment charges post 6 months
    Yes Bank
    Compare
    9.99%0.1% of loan amount1%
    ICICI Bank
    Compare
    10.00%1% of the loan amount1% of loan outstanding
    Fincare Small Finance Bank
    Compare
    10.99%Upto 0.5%NIL

    Compare Lowest Gold Interest Rate of Different Loan Amount

    If you have a low funds requirement, Fincare Small Finance Bank can be considered the best bank as it offers the lowest amount of ₹ 10,000. Apart from short fund requirements, gold loans are also preferred for high value needs. You can get a loan amount of upto ₹ 2 Cr depending upon the amount of gold you have. Some of the popular banks that provide the highest gold loan amount are as follows.

    Bank Min Loan Amount Max Loan Amount Interest Rates
    Fincare Small Finance Bank
    Compare
    ₹ 10,000₹ 40,00,00010.99% - 24.99%
    Axis Bank
    Compare
    ₹ 25,000₹ 20,00,00014.00% - 16.95%
    ICICI Bank
    Compare
    ₹ 10,000₹ 10,00,00010.00% - 19.80%
    IndusInd Bank
    Compare
    ₹ 10,000₹ 10,00,0009.00% - 17.00%
    Yes Bank
    Compare
    ₹ 25,000₹ 10,00,0009.99% - 9.99%

    For small term loans, Fincare Small Finance Bank offers gold loans for a minimum loan amount of ₹ 10,000. Andhra Bank provides a maximum gold loan amount upto ₹ 2 Cr for a tenure ranging between 3 months to 12 months.Other than Andhra Bank, other top lenders offering maximum loan amount are Axis Bank, ICICI Bank, IndusInd Bank, Yes Bank as per the current rates as of 25 May 2022.

    Top 5 Banks with Shortest Tenure on a Gold Loan

    A gold loan is available for a tenure ranging between 3 months to 24 months. Presently IndusInd Bank provides a gold loan for the shortest tenure for 3 months at 9.00%. Other banks which provide gold loans for less than 6 months are as follows.

    Bank Minimum Tenure Interest Rates
    HDFC Bank3 months9.00% - 15.00%
    Fincare Small Finance Bank3 Months10.99% - 24.99%
    IndusInd Bank3 months9.00% - 17.00%
    Yes Bank6 months9.99% - 9.99%
    Axis Bank6 months14.00% - 16.95%

    Popular Banks with Lowest Rates on Bullet Repayment Scheme

    With the Bullet Repayment Gold Loan Scheme, you don’t need to pay the loan amount during your loan tenure. You can pay the entire principal amount of the loan and the interest payments at the end of the loan tenure. Interest is however calculated every month. Banks usually provide bullet repayment schemes for shorter loan tenures.

    Bank name Gold loan Interest rate Tenure
    IndusInd Bank9.00% - 17.00%3 months to 24 months
    HDFC Bank9.00% - 15.00%3 months to 24 months
    Yes Bank9.99% - 9.99%6 months to 36 months
    Fincare Small Finance Bank10.99% - 24.99%3 Months to 9 Months
    Axis Bank14.00% - 16.95%6 months to 24 months

    Popular Banks with Lowest Rates on Gold Loan EMI Schemes

    With the regular EMI option, gold loan borrowers who have cash inflows in the bank accounts can pay monthly EMI, which includes both principal component and interest payments. Some financial institutions also provide an option to pay interest as EMI, and the principal amount of the loan is paid at the end of the loan tenure. This scheme is especially popular for longer tenure gold loan schemes with higher loan amounts.

    Bank name Gold loan Interest rate Processing Fee
    Yes Bank9.99% - 9.99%0.1% of loan amount
    ICICI Bank10.00% - 19.80%1% of the loan amount
    Fincare Small Finance Bank10.99% - 24.99%Upto 0.5%
    Axis Bank14.00% - 16.95%Upto 0.5%

    Popular Banks with Lowest Rates on Gold Overdraft Schemes

    Bank overdraft scheme allows gold loan borrowers to withdraw the loan amounts up to the specified pre-approved credit limits. Borrowers can repay the loans flexible as per their convenience, and the interest is charged on the utilised portion of the gold loan amount at a given period of time. They can also renew the limit at the end of their tenure by paying the processing fees. Some of the banks that offer overdraft facilities that are quite popular with borrowers are as follows.

    Bank name Interest rate Processing Fee
    HDFC Bank9.00% - 15.00%0.50% of the loan amount
    Yes Bank9.99% - 9.99%0.1% of loan amount

    FAQs

    Which bank is best for lowest gold loan interest rates?

    As per the current rates, IndusInd Bank and HDFC Bank is offering the lowest interest rate on gold loan starting at 9.00% and is one of the best banks for gold loan.

    Which bank is best for providing gold loans for maximum loan amounts?

    Andhra Bank is the best bank to take a gold loan for loan amount upto ₹ 2 Cr. The bank provides a maximum loan amount at an interest rate of 8.35% at Nil processing fees .

    Which bank provides an Overdraft facility against gold loans at the lowest interest rate?

    As per the current rates, HDFC Bank offers the lowest interest rate on gold loan's overdraft scheme starting at 9.00%.Other low interest gold loan banks that offer overdraft facilities are Yes Bank.

    Which bank provides the lowest interest rates for gold loan for the shortest tenure?

    Presently IndusInd Bank provides gold loan for the shortest tenure for 3 months at 9.00%

    Which bank provides the Lowest gold loan interest rate?

    As per the current rates, IndusInd Bank provides the lowest interest for a gold loan starting at 9.00%. Other banks that offer the cheapest gold loan rates are HDFC Bank, Yes Bank, ICICI Bank with 9.00%, 9.99%, 10.00% respectively.

    Which bank gives the highest gold loan per gram?

    As per the current gold rates, ICICI Bank provides the highest gold loan per gram. You can check and compare eligibility for the highest gold loan per gram to get the best offers on the current gold loan per gram.

    What is the interest rate of the gold loan in SBI?

    The SBI gold loan interest rate ranges between 7.50% to 7.50%. Gold loan interest rate SBI keeps changing from time to time. Also, there is a higher possibility of change when the repo rate changes.


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