Top 5 Best Gold loan Companies in India

Gold loan

Gold loan is preferred to as debt financing whereby a gold businessman purchases gold from lending company and sell it in the open market and get it for mine creation and afterwards then he pay back the gold from mine production. Gold loan gives ready cash for those who are in want of money for fulfilling basic financial necessities. Certain benifits are associated with gold loans basically low interest rate, no sort of income certificate required, comfortable. Certain important Gold loans available in India are as follows:

 Muthoot Finance Gold Loan

Muthoot is a Kerala originated association set up by  Muthoot Ninan Mathai in 1887 at Kozhencherry in Travancore district which was later being adopted by M George Muthoot. Loan is received within a time period of 5 min. It ranges from Rs 1500 to 1 crore. 0%processing fees. Interest rate of 1%per month.

Mannapuram Finance Gold Loan

Mannapuram Finance also facilitates gold loan within 5 minutes. It help to draw instant Cash by subscribing  gold ornaments and Jewellery. It provides loan at higher points, based on purity, net weight of gold. The candidate must have one recent ID—Voter ID/ Ration Card/ Driving License/ Passport. No time-consuming formalities involved.

Union Gold Loan

Union gold loan provides credit facility to needy farmers. The lending rate is Rs 1800 per gram gold ornaments. Based priority sector like agricultural purposes.  Under non priority sector for basic necessities for unforseen expenses. Loan amount consumption purposes is upto Rs.2000/-. The Non-Priority Sector loan amount is max.Rs.5 lacs.

HDFC Gold loan

HDFC gold loan term loan provides instant loans . Regular interest on loan is being granted. Identity Proof  like Passport Copy/ Voters ID card/ Driving License along with proof like Ration card/ Telephone Bill/ Electricity Bill/ Rental Agreement/ Passport copy/Trade license /Shop & Est License / Sales Tax certificate, 2 pass port size photographs.

 SBI Gold loan

SBI gold loan is loan which satisfies as a biggest advantage to overcome crisis and is a personal loan phenomena. It has low interest rate. The loan amount of Rs 10 lakh is attained by the customer. It also provides gold loan for farmers for agricultural necessities. The main documents required for applying gold loans are

  • Letter of witness in case of illiterate borrowers.
  • Two passport size photographs of the borrower.
  • DP Note delivery.
  • All the gold ornaments that are to be kept as mortgage for the loan.
  • Gold Loan application.

 


About Nideesh C

The Author is a Electronics and tele-communication engineer and co-founder of ITRPL. You can connect him on Or through email: nideesh@era.la   This post is protected by copyright. Send Post update request or Report Abuse

Comments

  1. I think SBI is good for Gold loan ..

  2. Anonymous says:

    All Gold loan Companies in India are growing now.

  3. ABHISHEK says:

    Muthoot Finance is the best of (India) gold loan purpose and fix deposit because all over India highest interest pay the this company 10% to 12%

  4. sushovan das says:

    At present Magma Fincorp is very good for Gold Loan

    • srinivas says:

      Dear friend IIFL(Indian Info line ) is best because terms & condition & low interest rate.over all is good.

  5. PRASHANT SHRIVASTAVA says:

    Dear Friend, I experienced Muthoot Fincorp is one of the BEST among the Gold Loan Companies.
    Try it next time.

  6. I think Kosamattam Finance is providing a great deal. Excellent customer service and fast processing, no charges and it was a good experience.

  7. JAYBRATA BANERJEE says:

    Dear All,

    Muthoot Finance provides gold loan from @15% p.a. currently…

  8. Himanshu Gupta says:

    I checked today with Muthoot Finance and they have different slabs of interest

    1920 per gram — 1.83% per month
    1720 per gram — 1.67% per month
    1520 per gram — 1.42% per month

  9. Dear Friends I went to today Muthoottu Mini Gold Loans

    1920 per gram – 1.83% per month (Daily Interest calculated)
    1800 per gram – 1.66% per month (Daily Interest Calculated)
    1600 per gram – 1.50% per month (Daily Interest Calculated)

    Very good Service in this Company and No any charges

    U should Try it Once

  10. goldsouk is the best company in gold loan …
    per grame rate is higher

  11. ravikumar says:

    HDFC is better for gold loan compare to others.

  12. SAMIR KUMAR BHATTACHARYA says:

    kindly send one application of gold loan as because I am so much interest to take such loan but at present my brach manager not process .

  13. Dear friends..

    Achievers quick goldloan interest rate is very low … 12% pa
    pls chech their schemes

  14. Anonymous says:

    manappuram iz the best

  15. Kotresh I says:

    Dear friends IIFL(Indian Info line ) is best because terms & condition & low interest rate.over all is good.

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