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