What is the interest rate for a gold loan at Corporation Bank in Mangalore?
Call the number on this page and ask:http://m.corpbank.com/contact-us
Which bank has a low interest rate for gold loans?
Gold Loan Interest RatesLoans that are granted to you in lieu of you depositing your gold with NBFCs or banks are referred to as gold loans. It is a secured loan and as a result has emerged as a preferred alternative option for short-term loan seekers.HDFC Gold Loan | 9.6% onwards | Nil to 0.5% of loan sanctionedMuthoot Gold Loan | 12% onwards | 0.25% to 1% of loan sanctionedManappuram Gold Loan | 14% onwards | Varies on a case by case basisICICI Bank Gold Loan | 10.5% to 16.5% | 1% of loan amountSBI Gold Loan | 11.05% p.a. | 0.5% of loan amount with a Min. Rs. 250Axis Bank Gold Loan | 14.50% to 17% | 1% of loan amountLending institutions offer loan of up to 75% of the gold value, after checking the metal for purity and ascertaining its market price. Coins and bars with higher purity offer more value than gold jewellery or that encrusted with precious stones, which is valued only for the gold component. The interest on loan can vary from 13%-16% per annum. It is usually repayable in 12-60 months in equal instalments and includes interest and principal.Thanks to,Gold Loan Interest Rates Nov 2018, SBI, Manappuram, Muthoot
What is bank interest rate for gold loan for farmers?
Its 4% after central and state government subsidy in Tamilnadu.. Btw at the max we can get only 3Lakh an we have to submit agri land proof
If I take gold loan from banks (India) can I pay only the interest amount untill I repay the loan amount or should I pay EMI like personal loans?
If you have taken a gold loan from any bank or NBFC, you will get four different options to repay the loan amount:• You can pay only the interest on monthly or quarterly basis to the lender. It is known as Bullet scheme• You can repay in EMI basis on every month. This is known as EMI scheme• You can make part payments or as top-ups without paying any charges. This is called Flexi scheme• You can pay the interest at the start of the loan tenor and again at the end of the loan tenor. This is termed as Upfront interestAny good gold loan lender in India will offer you all these four options of repayment. It is up to you which repayment mechanism suits you and which you want to opt for.
Which is the best bank to provide gold loan?
A gold loan is also called a secured loan as one provides collateral such as gold coins or gold jewellery for the money that they receive as the loan. Gold loans generally have low interest rates as the lenders can always sell the gold if one defaults on payments. Gold loans are also advantageous as one does not need to provide proof of income nor have a good credit score to apply for the same.Here are some of the banks that provide some great features on their gold loans to their customers:1. ICICI bank:They provide instant gold loans which can be availed over the counter instantlyLoan amounts from Rs.10,000 to Rs.15,00,000 are offeredThere is simple and easy documentation onlyThe gold is kept in a vault safe in strong rooms.Tenures range from 6 months to 12 monthsInterest rates can range from 10% to 17.45% based on your loan amount and relationship with the bank2. HDFC bank:They provide instant funds against the gold in just 45 minutesLoan amounts range from Rs.25,000 to Rs.50,00,000 (A minimum loan amount of Rs.10,000 is available in rural markets)They have minimal documentationThe gold is kept safely in their lockerTenures range from 6 months to 48 monthsInterest rates range from 10.05% to 15.51% based on your loan amount and other factors3. IndusInd bank:You can walk in to your nearest branch and walk out with your gold loanLoan amounts up to Rs.10 lakhsThey have easy documentationThe gold is valued and sealed in front of the customer safelyTenures range from 3 months to 1 yearInterest rates range from 11.25% to 15.50%To apply for a gold loan, click here.
How much money (approximately) do gold loan appraisers from Canara Bank make per month?
Depends upon many factors.Firstly, they dont have a fixed pay scale. Their remuneration depends upon the number of gold packets they appraise. So his wage is depended on factors like, branch category, average number of customers per day, locality of the branch etc. A gold loan of 40,000rs and above would fetch an amount of Rs 200 to the appraiser.
Can I transfer a loan from Indian bank to Canara Bank?
Loans against properties can be transferredHousing loansMortgatge loansAny other secured loansThe borrower has to specify the reasons for such transferIt may be reduction in rate of interestIt may be location of the bank branch nearer to the businessIt may be some flexible terms announced by the second bankNormally unsecured loans of any kind are not accepted by the second bankHowever, there is no hard and fast rule in this connection and it is purely at the discretion of the branch manager in charge of second bank and he has to take risk in accepting such loan accounts from other banks