Gold Loan Charges

Commercial banks reported a 62 per cent increase in gold loan NPAs, which rose to Rs 2,445 crore in June 2024 from Rs 1,513 crore in March 2024

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 66,490

The RBI on Friday announced the increase in the monetary ceiling of gold loans that can be granted under the bullet repayment scheme from Rs 2 lakh to Rs 4 lakh for UCBs

The recent surge in gold prices has made the yellow metal shinier as it fetches more funds for borrowers. Significantly, gold prices shot to Rs 60,000 per 10 grams from about Rs 50,000 a year ago

Lender's amalgamation with Lakshmi Vilas Bank expanded its reach in South India

If the price of gold plunges, a borrower can be asked to put up additional collateral

Opt for overdraft facility if you have a recurring need, a term loan if you require a lump sum

Unlike a personal loan, gold loan is secured loan with your gold article as collateral, and bears a lower interest rate

These companies are prepared to lend more to customers as the price of gold mortgaged by them has gone up sharply, making them eligible for larger loans

Here's how the gold loans by different banks stack up

Here's how the charges and features of Gold loan by different banks stack up