Which bank is offering the cheapest gold loan? View full details here
Which bank is offering the cheapest gold loan? View full details here
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New Delhi: If you suddenly need money, you can take a gold loan from a bank for it. Gold loans can be very powerful options. Gold loans from banks or other financial institutions can be easily availed and are cheaper than personal loans. Due to low risk, loans can be easily taken by mortgaging gold from banks, NBFCs or other financial institutions. Today we are going to tell you about some banks, from where it can be beneficial for you to take gold.

These banks are getting cheap gold loans:-
- Federal Bank -   8.50 percent 
- SBI - 7.30 percent
Punjab & Sind Bank – 7%
- Punjab National Bank (PNB) - 8.75 per cent
- Canara Bank - 7.35 percent in
- Indian Bank - 7%
- Bank of Baroda (BOB) - 9.00 per cent
- Karnataka Bank - 8.49 per cent
- IDBI Bank (IDBI) - 7 percent
- HDFC Bank Bank - 11 per cent

(Note: These figures have been collected by online marketplace BankBazaar.com, which includes public-private banks and NBFCs listed on bse.)  

Take special care of these things:-
Always keep in mind before a loan that your gold should not be less than 18 carats, as many banks do not offer gold loans at less than 18 carats.
2- To get a gold loan, it is necessary to have an Aadhaar or PAN card. This will serve as your identity card.
3- Like normal loans, gold is also given for different periods of time. Normal gold loans are given by the banks for 3 months to 36 months.
4- Always try to get gold loan from government banks. Because the interest rate here remains low.

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