If you want to take loan by pledging gold, then these banks have the lowest interest rate
Newz Fast, New Delhi: Planning to take loan by pledging gold? The lowest interest rate in these banks Many banks are also giving loans at a rate less than 9 percent.
The Reserve Bank of India (RBI) has increased the repo rate. After this, banks have increased the interest rates on retail loans. In such a situation, if you are thinking of taking a gold loan in the coming days.
If you are troubled by the increasing interest rates, then let us tell you that many banks are giving loans even at less than 9 percent rate. There are a total of 9 such banks, which are charging interest at the rate of less than 9 percent on a gold loan of five lakh rupees with a tenure of two years. Let's get to know them.
Here is the complete list of banks
Government bank Central Bank of India has kept a low interest rate of 8.5 percent on gold loan of Rs 5 lakh with a tenure of two years. In this, the EMI on the loan is Rs 22,636.
In the government-owned Union Bank, there is an interest rate of 8.2 percent on the gold loan. The EMI on Gold Loan in this bank is Rs 22,659.
In Punjab and Sind Bank, there is interest at the rate of 8.25 percent on gold loan. The EMI in this is Rs 22,671.
The country's largest bank State Bank of India has an interest rate of 8.3 per cent on gold loans. This loan of Rs 5 lakh is for a period of two years. EMI will be Rs 22,682.
The interest rate on gold loan in UCO Bank is 8.5 percent. The EMI in this is Rs 22,728.
There is an interest rate of 8.5 percent on gold loan in government bank Bank of Baroda ie BOB. In this, a loan of Rs 5 lakh is available for a period of two years. In this the EMI is Rs 22,728.
Gold loan in Indian Bank charges interest at the rate of 8.65 per cent per annum.
At the same time, the interest rate on gold loan in Federal Bank is 8.99 percent. The EMI in this bank will be Rs 22,840.
Canara Bank has an interest rate of 9.15 per cent per annum on gold loan. The EMI on Gold Loan in this bank is Rs 22,877.
Let us tell you that in gold loan, you can take a loan of at least 20 thousand to a maximum of 1.5 crore rupees. The tenure of the gold loan ranges from 3 months to 24 months.
Let us tell you that all the banks decide the limit and duration of gold loan according to their own. You can also visit your nearest bank branch to get more information related to gold loan.