What is the gold loan interest rate in federal bank?

Federal Bank Gold Loan Interest Rate Comparison

Lender Gold Loan Interest Rate Loan Amount
Federal Bank 8.50% onwards Rs.1,000 to Rs.1.5 crore
SBI Bank 7.30% onwards Rs. 20,000 to Rs. 50 lakh
Axis Bank 13% onwards Rs. 25,001 to Rs. 25 Lakh
SBI 7.50% onwards Rs. 20,000 to Rs. 50 Lakh

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Subsequently, how is gold interest rate calculated?

You can determine the gold loan interest by subtracting the principal loan amount from the total outstanding. You can also take the assistance of a gold loan interest rate calculator to know about the same and learn how the interest rate alters EMIs and total outstanding amounts.

Similarly, how is gold loan calculated? Calculate Your Gold Loan Amount

*The market value of your gold is calculated by taking 30 days average gold rate of 22 carat gold | Purity of the gold is assumed at 22 carat. *You can avail a maximum loan of up to 75% of the market value of your gold depending on the quality of the gold.

In respect to this, how much is gold loan per gram in Kerala Gramin Bank?

Kerala Gramin Bank Gold Loan Per Gram Today is ₹ 3,506 to ₹ 4,621

Interest Rate 7.0% per annum
Gold Loan Rate Per Gram Rate Per Gram is ₹ 3,506 to ₹ 4,621
Processing Fee 0.75% of the Principal Loan Amount
Maximum Loan Amount Up to Rs. 20 lakh
Minimum Loan Amount 75% LTV

What is the rate of gold loan per gram in Canara Bank?

As per the latest gold prices, Canara Bank offers a gold loan per gram of ₹ 2,559 to ₹ 3,128. Highest Canara Bank gold loan rate per gram today is ₹ 3,128 for 22 carat jewellery calculated at a maximum LTV of 75% and the average gold loan prices of last 30 days in 2021 is ₹ 4,634 of 22 carat.

What is the rate of interest for gold loan in Canara Bank?

Canara Bank Gold Loan Details

Interest Rate Up to 7.65% p.a.
Loan Amount Up to Rs.20 lakh
Loan Tenure Up to 2 years
Processing Fee 0.5 % of the loan amount + GST subject to a minimum of Rs.500

Which bank gives highest gold loan per gram?

Gold Loan Per Gram – SBI, Manappuram, Muthoot, HDFC, Axis, Yes Bank & IIFL

Bank / NBFC Rate Per Gram Interest Rate
ICICI Gold Loan ₹ 3,506 to ₹ 4,621 10.00%
Muthoot Finance Gold Loan ₹ 3,506 to ₹ 4,621 12.00%
Manappuram Gold Loan ₹ 3,506 to ₹ 4,621 12.25%
Canara Bank Gold Loan ₹ 3,506 to ₹ 4,621 10.25%

Which bank has lowest interest rate on gold loan?

Low Interest Gold Loan Rates: Top 5 Banks

Banks Interest Rate Tenure
ICICI Bank 9.00% 6 months to 12 months
HDFC Bank 9.00% 3 months to 24 months
Yes Bank 9.99% 6 months to 36 months
IndusInd Bank 10.00% 3 months to 24 months

Which bank is best for gold loan?

Gold Loan Interest Rates Comparison

Name of the Bank Interest Rate Loan Amount
Canara Bank Gold Loan 7.35% p.a. Rs.5,000 to Rs.35 lakh
Muthoot Gold Loan 12% p.a. to 26% p.a. Rs.1,500 onwards
SBI Gold Loan 7.00% p.a. onwards Rs.20,000 to Rs.50 lakh
Kotak Mahindra Gold Loan 10.00% p.a. – 17.00% p.a. Rs.20,000 to Rs.1.5 crore

Which is cheaper gold loan or home loan?

A home loan top up interest rate is cheaper than a gold or personal loan. This is because a top up loan interest rate is only 0.5% to 1% higher than home loan interest rates.

Which is the best bank for gold loan in Kerala?

List of Top 10 Banks / NBFCs offering Gold Loan in India – 2021

Gold Loan Providers Interest Rate Tenure
HDFC Bank 9.90% onwards 3 months to 24 months
ICICI Bank 11% p.a. onwards 3 months to 12 months
Canara Bank 7.65% p.a. onwards 6 months to 2 years
Axis Bank 12.50% p.a. onwards From 3 months to up to 3 years

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