By Admin 
Gold Loan Interest Rates: There are many such occasions in life when people need money in emergency. It is often seen that very few people maintain an emergency fund to deal with such situations. To meet their financial needs, people look for personal loans and other options from banks. In such a situation, gold loan can also be an option.
Under this, gold is mortgaged in the bank and the bank gives you money on interest in return for it. Gold loan is cheaper than personal loan. If you are also thinking of taking a gold loan, then you should be aware of the interest rates on gold loans of different banks. So that you can take the right decision for yourself and you do not suffer any kind of financial loss.
Know gold loan rates of different banks
1. Punjab National Bank (PNB) is currently providing gold loan at the lowest interest rate. The bank is offering gold loan at an initial rate of 8.35 percent. If you take a loan of Rs 1 lakh from the bank, you will have to pay an EMI of Rs 8,715 every month. At the same time, Indian Bank is offering gold loan at an interest rate of 8.75 percent. In such a situation, you can plan to take gold loan from these banks.
2. Talking about ICICI Bank, it is giving gold loan to its customers at the rate of 8.75 percent. At the same time, interest rate of 8.95 percent is being charged on gold loan in Canara Bank.
3. HDFC Bank is offering gold loan at an initial interest rate of 9.30 percent. At the same time, gold loan is available at an interest rate of 10 percent in the country’s largest government bank, State Bank of India (SBI). Because it is a government bank, people trust SBI more.
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