Check Free CIBIL Score Online

Top Private Sector Banks for Gold Loans

Highlights

  • What are some of the top private sector banks that provide gold loans?
  • Know about their interest rates, repayment tenure, how much loan they provide, and much more!

Gold Loan has certainly been an uplifting and empowering lending facility for people who have been looking to get funds in a quick and hassle-free manner. To get this, an individual just needs gold; be in the form of jewellery or gold coins minted by banks. By putting their gold as collateral, they can get any sum of money from the banks and financial institutions, that too at an affordable rate of interest. The lenient eligibility, criteria, and minimal documentation are the few features that make this gold loan one of the most preferred products among customers.

Apply For Gold Loan Online

But when it comes to choosing the right lender for a gold loan, private sector banks are just too good to miss. In this article, we will talk about the gold loan facility provided by the top private sector banks so that you don’t have to face any trouble while choosing a suitable lender for you. So, without any further delay, keep reading!

Top Private Bank Gold Loan Providers

If we were to make a list of top private banks of India, the topmost five would be — HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and YES Bank. In the upcoming section, we would give you all the details related to the gold loans provided by these lenders. Do check them!

People Also Look For  Union Bank of India Gold Loan

HDFC Bank Gold Loan

Coming from the largest private lender of the country, HDFC offers a gold loan amount upto INR 20 lakh by submitting their gold ornaments or coins as collateral. HDFC Gold loan interest rates also range from 10% to 17.98% per annum, which is quite affordable. You need to remember this thing that your loan amount will depend on the overall value of the gold you submit to HDFC.

The table below shows every detail regarding HDFC Gold Loans. Have a look.

Loan AspectsDetails
Minimum Loan AmountINR 25,000
INR 10,000 in the rural areas
Maximum Loan AmountCustomized according to the gold value
Interest Rate10.05% - 17.95%
Tenure3 to 24 months
Processing Fees1.50% of the Total Loan Amount plus GST charges
Repayment MethodsEMI
Bullet Repayment
Overdraft (OD) Facility

ICICI Bank Gold Loan

It is impossible to not mention the ICICI Bank Gold Loan if we are talking about the top private sector bank gold loans. Available at an affordable rate of interest ranging from 10% to 19.76% per annum, you can get a loan as low as INR 10,000. Other than this, ICICI Bank also provides you a flexible repayment option and more than one application method such as Online, Offline, and Missed Call Method.

To know more about this loan facility, you can glance at the below table where we have provided some important details.

Axis Bank Gold Loan

Axis Bank Gold loan could be one of the suitable options for you if you are looking to get funds for emergency purposes. With this loan facility, you can get the loan amount on the same day in your bank account if the documentation and authentication process is satisfactory according to the lender. You can also get Axis eDGE Reward points on opting for this loan and on every other transaction. Like you will get 150 reward points on the loan disbursement.

The below table has all the important features related to the Axis Bank Gold Loan that you can have a peek at!

Loan AspectsDetails
Minimum Loan AmountINR 25,000
Maximum Loan AmountINR 20 lakh
Interest Rate15.00%
Tenure6 to 36 months
Processing Fees1% of the Total Loan Amount plus GST charges
MarginCustomized

Kotak Mahindra Bank

Kotak Mahindra Bank has certainly been one of the finest private sector banks that provides an amazing gold loan facility to the customers. If you are an existing customer of the Kotak Mahindra Bank, you can get upto INR 50 lakh as the loan amount depending on your gold value. This amount is fixed at INR 20 lakh for new customers. The loan to value ratio ranges from 65% to 75% in a Kotak Mahindra Gold Loan.

If you want to have more information about the Kotak Mahindra Bank Gold Loan, you can check the table shown below.

YES Bank Gold Loan

One of the factors that make YES Bank Gold Loan as one of the top private sector bank gold loan lenders is the affordable interest rates. The interest rates range from 9.65% to 15.65% per annum which may vary according to your loan amount. You can get a loan amount as low as INR 25,000 with the flexible repayment tenure of 3 to 36 months. For other details, you can check the below table.

Loan AspectsDetails
Minimum Loan AmountINR 25,000
Maximum Loan AmountINR 50 lakh
Interest Rate9.00% - 15.00%
Tenure3 to 36 months
Processing Fees0.75% of the Total Loan Amount plus GST charges
MarginCustomized and depends on the gold value

So, these are the top private sector banks that provide gold loans to customers. Now after gaining so much information about all of them, you can decide which to choose.

People Also Look For