Sabse Sasta Gold Loan Cheapest Gold Loan – This bank is offering low-cost gold loans in 2023 Here is a list of banks

Sabse Sasta Gold Loan Cheapest Gold Loan: The term ‘cheapest gold loan’ means that applicants are looking to find out which bank is offering gold loans at a lower interest rate. Let’s understand one thing: in the market, there are over 50 different types of companies, including private banks, government banks, and non-financial banking companies. They offer gold loans, and the interest rates on each of these gold loans vary. So, if you want to get a gold loan at a lower cost, you need to have information about the interest rates of these companies, only then can you choose one for your gold loan. Sabse Sasta Gold Loan

Sabse Sasta Gold Loan Cheapest Gold Loan

Sabse Sasta Gold Loan Cheapest Gold Loan
Sabse Sasta Gold Loan Cheapest Gold Loan

Discover Which Bank Offers the Cheapest Gold Loan?

Generally, government banks offer lower interest rates on gold loans, while private banks tend to have relatively higher rates. If you’re interested in getting a cheap gold loan in India, check out the list below, which includes both private and government banks along with their respective interest rates on gold loans. This list allows you to review the current and latest interest rates on gold loans in India.

Note: It’s worth mentioning that the interest rates on gold loans from government banks are generally lower compared to those from private banks or companies. However, it may take a little longer for your gold loan to be approved in this case.

Note: If you opt for gold loans from private companies or banks, the interest rates are relatively higher, but your gold loan approval is usually processed within half an hour to one hour.

So, there are distinct advantages to taking gold loans from private banks and government banks. If you need quick approval for your gold loan, you can choose a private bank, although the interest rates may be slightly higher. Find the cheapest gold loan bank name. However, if you want a lower interest rate, you should turn to government banks. They typically offer the lowest interest rates.

Which Bank Currently Offers the Cheapest Gold Loan?

At present, the State Bank of India (SBI) is offering the cheapest gold loan with an interest rate of 7% per annum. Additionally, Bank of Baroda offers a rate of 7.30% per annum, and several other banks, including Canara Bank, Punjab National Bank, are also listed below.

Bankinterest rateTenure
SBI Bank9.50%6 – 36 Months
Canara Bank10.75%6 – 12 Months
Bank of Baroda8.85% p.a. 12 months to 36 months
Punjab National Bank8.05% p.a. – 8.4% p.a.up to 12 months
Federal Bank7.99% p.a12 Months
ICICI Bank11% p.a. onwards6 months to 12 months
HDFC Bank11% p.a. to 16% p.a.3 months to 24 months
Indian Bank7% p.a. onwardsUp to 36 months
IndusInd bank8.75% – 16.50%Up to 12 months
Axis Bank14.50% p.a. 6 months to 36 months
Karnataka Bank8.88% p.a. – 9.18% p.a6 months to 12 months
Bajaj finserv 9.50% p.a. to 28% p.a
Shriram City11.5% p.a.*1 month up to 12 months
Muthoot Finance11.9% p.a. to 27% p.a.12 months to 36 months
Manappuram9.90% p.a. to 24% p.a.6 months to 12 months
rupeek7.08%* P.A. 4 – 9 months
Kotak Mahindra Bank8% p.a. to 17% p.a.Up to 4 years

Full Details Sabse sasta gold loan

FAQ’s About Sabse Sasta Gold Loan?

Which bank is currently offering the cheapest gold loan?

Currently, State Bank of India offers the cheapest gold loan, starting at an interest rate of 7%. Bank of Baroda and Federal Bank are also providing gold loans at affordable rates.

Who provides gold loans in just 5 minutes?

If you need an urgent or immediate gold loan, you can obtain it from a private bank or an NBFC (Non-Banking Financial Company) because their interest rates may be slightly higher, but you will receive the gold loan quickly. In this case, you typically don’t need extensive documentation.

Do banks also check the credit or civil score to offer a cheap gold loan?

No, when you take a gold loan, there is no requirement for a credit score or civil score.

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