New Delhi: If you suddenly need money, you can take out a gold loan from a bank. Gold loans can be very powerful options. Gold loans from banks or other financial institutions can be easily obtained and are cheaper than personal loans. Due to the low risk, loans can be easily obtained by mortgaging gold from banks, NBFCs or other financial institutions. Today we will tell you about some banks, from where it can be beneficial for you to take gold.
These banks get cheap gold loans:-
– Federal Bank – 8.50%
– SBI – 7.30 percent
Bank of Punjab and Sindh – 7%
– National Bank of Punjab (GNP) – 8.75%
– Canara Bank – 7.35% in
– Indian Bank – 7%
– Bank of Baroda (BOB) – 9.00%
– Bank of Karnataka – 8.49%
– IDBI Bank (IDBI) – 7%
– HDFC Bank Bank – 11 percent
(Note: these figures were collected by the online marketplace BankBazaar.com, which includes public-private banks and NBFCs listed on bse.)
Pay special attention to these things:-
Always keep in mind before a loan that your gold should not be lower than 18 karat, as many banks do not offer gold loans below 18 karat.
2- To obtain a gold loan, it is necessary to have an Aadhaar or PAN card. This will serve as your identity card.
3- Like normal loans, gold is also granted for different periods of time. Normal gold loans are granted by banks for 3 months to 36 months.
4- Always try to get a gold loan from government banks. Because the interest rate here remains low.
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