Top Gold Loan Providers in India – Compare Interest Rates, Loan Amounts, and Features
Compare the top gold loan providers in India, featuring competitive interest rates, high loan amounts, and exclusive benefits to meet your financial needs. Explore options and choose the best plan today!
Introduction – Gold Loan Providers in India and How They Can Help You
Gold loans are one of the fastest and most accessible ways to secure funds for personal and business needs in India. From banks to NBFCs (Non-Banking Financial Companies), institutions like State Bank of India (SBI), HDFC Bank, ICICI Bank, Muthoot Finance, Manappuram Finance, Bajaj Finserv, and Rupeek dominate this space by oering exible, secured credit using gold as collateral.
Gold loans provide immediate liquidity with minimal documentation. Since the asset remains with the lender, interest rates are lower compared to unsecured personal loans. Whether you need funds for emergencies, weddings, education, or business expansion, gold loans oer a quick and secure nancial solution.
Why Comparing Gold Loan Providers is Crucial
Gold loan oerings vary signicantly across lenders in terms of:
Closure Options: Early foreclosure with minimal charges.
Network: Wide presence in urban areas with digital onboarding.
MinEmi Tip
Bajaj’s EMI option provides exibility, making it perfect for managing monthly cash ow.
6. Punjab National Bank (PNB) Gold Loan
Interest Rate: 9.25%
Loan Amount: ₹25,000 – ₹25 lakh
Tenure: Up to 18 months
Processing Fee: 0.75%
Security: Safe custody with tamper-proof sealing.
Customer Satisfaction: Transparent documentation and quick loan disbursals.
Innovation: Specialized loans for MSMEs and farmers.
Closure Options: No foreclosure charges for agricultural loans.
Network: Strong rural and semi-urban reach.
MinEmi Tip
PNB oers specialized schemes for MSME customers, making it attractive for small businesses.
7. Bank of India (BOI) Gold Loan
Interest Rate: 9.30% – 11.50%
Loan Amount: ₹15,000 – ₹25 lakh
Tenure: Up to 36 months
Processing Fee: 0.5%
Security: Advanced gold storage facilities with biometric access.
Customer Satisfaction: Trusted by small business owners and farmers.
Innovation: Rural-focused gold loan schemes.
Closure Options: Flexible repayment and foreclosure options.
Network: Strong rural presence across India.
MinEmi Tip
BOI is great for agricultural gold loans with competitive interest rates.
8. Canara Bank Gold Loan
Interest Rate: 7.25%
Loan Amount: ₹5,000 – ₹35 lakh
Tenure: Up to 12 months
Processing Fee: 0.5%
Security: Gold is stored in insured vaults under high security.
Customer Satisfaction: Excellent customer service with low-interest loans.
Innovation: Agricultural and MSME-specic schemes.
Closure Options: Free foreclosure after 6 months.
Network: Strong in North and Eastern India.
MinEmi Tip
Union Bank’s high LTV and low fees make it ideal for agricultural customers.
9. Federal Bank Gold Loan
Interest Rate: 10.00%
Loan Amount: ₹10,000 – ₹20 lakh
Tenure: Up to 36 months
Processing Fee: 1%
Security: Vault security with insured deposits.
Customer Satisfaction: High ratings for quick loan approvals.
Innovation: Flexible LTV options.
Closure Options: Part payment available anytime.
Network: Strong in Kerala and South India.
MinEmi Tip
Federal Bank is the go-to for exible repayment terms and higher LTV ratios.
Here’s the continuation and expansion of the list featuring additional key gold loan providers in India, structured in the same format to ensure detailed comparison and clarity.
10. Axis Bank Gold Loan
Interest Rate: 14.50%
Loan Amount: ₹25,000 – ₹40 lakh
Tenure: 6 to 36 months
Processing Fee: 0.50%
Security: Secure vault storage with full insurance.
Customer Satisfaction: High ratings for fast approvals and urban focus.
Innovation: Digital gold loan products and paperless disbursal.
Closure Options: Partial and full repayment without foreclosure charges after 6 months.
Network: Wide presence in urban and semi-urban area
MinEmi Tip
Axis Bank’s digital loan process is best suited for tech-savvy customers seeking quick disbursement
11. Union Bank of India Gold Loan
Interest Rate: 8.70% – 9.40%
Loan Amount: ₹15,000 – ₹25 lakh
Tenure: Up to 36 months
Processing Fee: 0.50%
Security: Secure vaults with tamper-proof storage.
Customer Satisfaction: Known for rural outreach and customer-centric processes.
Innovation: Agricultural gold loans with higher LTV for farmers.
Closure Options: Free foreclosure after 3 months.
Network: Extensive with branches across India.
MinEmi Tip
SBI is best for low-interest rates and long tenures, making it ideal for large loan amounts.
12. IIFL Finance Gold Loan
Interest Rate: 9.24%
Loan Amount: ₹3,000 – ₹50 lakh
Tenure: 6 to 36 months
Processing Fee: 1%
Security: Advanced tamper-proof gold packaging and vault storage.
Customer Satisfaction: Rated highly for ease of loan application and disbursal.
Innovation: Fully digital gold loan process with doorstep pickup
Closure Options: Zero foreclosure penalty after 12 months.
Network: Pan India, strong in metros and Tier-1 cities.
MinEmi Tip
IIFL Finance is perfect for borrowers looking for a seamless online gold loan experience.
13. Rupeek Gold Loan
Interest Rate: 8.25% – 14.00%
Loan Amount: ₹10,000 – ₹1 crore
Tenure: 6 to 24 months
Processing Fee: 1%
Security: Gold is picked up from your home and stored in bank-grade vaults.
Customer Satisfaction: High satisfaction for its innovative home pick-up and digital process.
Innovation: Loan disbursal at home through mobile app and doorstep service.
Closure Options: Early foreclosure allowed without penalties.
Network: Active in major metros and Tier-1 cities.
MinEmi Tip
Rupeek is the top choice for borrowers who prefer at-home gold loan services.
14. IndusInd Bank Gold Loan
Interest Rate: 9.50% – 13.00%
Loan Amount: ₹50,000 – ₹50 lakh
Tenure: 6 to 24 months
Processing Fee: 0.75%
Security: Secure vaults with biometric access.
Customer Satisfaction: Praised for quick loan processing and transparency.
Innovation: Flexible repayment models and overdraft facilities.
Closure Options: No foreclosure charges post 6 months.
Network: Primarily urban-focused with growing semi-urban presence.
MinEmi Tip
IndusInd offers quick processing, making it ideal for business owners need of instant liquidity.
15. Kotak Mahindra Bank Gold Loan
Interest Rate: 9.80% – 14.50%
Loan Amount: ₹25,000 – ₹30 lakh
Tenure: 6 to 12 months
Processing Fee: 0.50%
Security: Tamper-proof vault storage with 24/7 surveillance
Customer Satisfaction: High rating for customer-centric gold loan process.
Innovation: Pre-approved gold loans for existing Kotak customers.
Closure Options: Early closure after 3 months with minimal charges.
Network: Extensive in metro cities and expanding rural reach.
MinEmi Tip
kotak Mahindra Bank’s pre-approved gold loan facility offers fast access to funds.
16. South Indian Bank Gold Loa
Interest Rate: 8.90% – 11.50%
Loan Amount: ₹10,000 – ₹20 lakh
Tenure: Up to 36 months
Processing Fee: 0.50%
Security: Gold stored securely in tamper-proof vaults
Customer Satisfaction: Positive reviews for fast disbursals and low documentation.
Innovation: Special agricultural schemes for rural customers.
Closure Options: Free foreclosure allowed after 6 months.
Network: Primarily active in South India.
MinEmi Tip
South Indian Bank’s gold loans are best for agricultural and small business needs.
17. Yes Bank Gold Loan
Interest Rate: 10.00% – 15.00%
Loan Amount: ₹25,000 – ₹50 lakh
Tenure: 6 to 36 months
Processing Fee: 1%
Security: Gold is stored in insured and monitored vaults.
Customer Satisfaction: Known for excellent service and transparent processes.
Innovation: Part-payment flexibility with EMI options.
Closure Options: Foreclosure allowed after 3 months with minimal charges.
Network: Urban-focused with digital loan offering
MinEmi Tip
Yes Bank’s flexibility makes it a great option for self-employed borrowers.
Final Thoughts
The gold loan market in India is highly competitive, with numerous banks and NBFCs offering attractive schemes. Whether you prefer the reliability of SBI and HDFC, or t innovative approaches of Rupeek and Bajaj Finserv, there is a solution tailored to your needs. By comparing interest rates, tenures, and special features, borrowers can make informed decisions to optimize their borrowing experience.
Call to Action:Start your gold loan journey with Minemi by comparing these top lenders today to find the best deals and schemes that align with your financial goals.
Frequently Asked Questions (FAQs)
Which banks and NBFCs offer the best gold loan in India?
Top providers include State Bank of India (SBI), HDFC Bank, ICICI Bank, Punjab National Bank (PNB), Bank of India (BOI), Muthoot Finance, Manappuram Finance, Bajaj Finserv, IDFC First Bank, and Rupeek.
What is the difference between gold loans offered by banks and NBFCs?
Banks generally offer lower interest rates (7.25% - 10%) but require more documentation. NBFCs like Muthoot and Manappuram provide faster disbursement and higher LTV (up to 75%) but may charge slightly higher interest rates (12% - 18%).
How do I apply for a gold loan from banks like SBI or ICICI?
You can apply by visiting the nearest branch, applying online via their official websites or using their mobile apps. Some NBFCs like Rupeek and Muthoot offer doorstep goid loan services.
Which gold loan provider has the lowest interest rates?
As of now, Canara Bank (7.25%), SBI (7.30%), and Union Bank of India (8.70%) offer so of the lowest interest rates on gold loans.
What is the typical processing time for a gold loan?
Most banks and NBFCs process gold loans within 1 to 3 hours after gold valuation and documentation. NBFCs like Muthoot and Manappuram are known for instant disbursement.
Who is eligible to apply for a gold loan?
Any Indian citizen aged 18 years and above who owns gold jewelry, coins, or ornaments can apply.
What documents are required for a gold loan from banks and NBFCs?
Photographs and sometimes income proof for higher loan amounts.
Can I apply for a gold loan online?
Yes, major lenders like HDFC, ICICI, Rupeek, Bajaj Finserv, and SBI allow online applications with minimal paperwork. NBFCs like Rupeek provide doorstep gold collection services.
Do I need to have a bank account with the lender to apply for a gold loan?
No, most banks and NBFCs allow you to apply without holding an account. However, account holders may receive discounted interest rates or waived processing fees.
How quickly is the gold loan amount disbursed?
For most banks and NBFCs, the loan is disbursed within a few hours after gold valuation and documentation.
Which gold loan providers offer the highest loan-to-value (LTV) ratio?
NBFCs like Muthoot Finance, Manappuram Finance, and Rupeek offer up to 75% LTV of the gold’s market value. Banks generally offer between 65% to 75% LTV.
How is the interest rate calculated for gold loans?
Interest rates are determined by:
Gold Value (LTV Ratio)
Loan Amount and Tenure
Borrower’s creditworthiness
Do banks offer lower interest rates than NBFCs on gold loans?
Yes. Banks like SBI, Canara Bank, and Union Bank of India typically offer .
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