When you suddenly need money, jewelry can be a great choice. One can easily get a gold loan from a bank or other financial institution. Cheaper than personal loan. Gold can be easily borrowed by mortgaging gold from banks, NBFCs or other financial institutions. Learn about some of the major banks that offer low interest jewelry loans.
Banks that offer low interest jewelry loans
– Federal Bank – 8.50 percent
– SBI – 7.30 per cent
– Punjab & Sind Bank – 7 per cent
– Punjab National Bank (PNB) – 8.75 per cent
– Canara Bank – 7.35 per cent
– Bank of India – 7 percent
– Bank of Baroda (BOB) – 9.00 per cent
– Bank of Karnataka – 8.49 per cent
– IDBI Bank – 7 percent
– HDFC Bank – 11 percent
(Note: These figures are compiled by the online marketplace BankBazaar.com. This list includes public-private banks and BSE NBFCs listed on the Mumbai Stock Exchange.)
Read more | The best selling 5G phones
Things to consider when buying jewelry
1. Always remember that your gold should not be less than 18 carats before borrowing. This is because many banks do not offer gold loans of less than 18 carats.
2. It is mandatory to have Aadhar or Ban card to buy gold loan.
3. Like ordinary loans, gold is given on a regular basis. Banks offer regular gold loans for 3 months to 36 months.
4. Always try to get gold loans only from government banks. Because the interest rate here is low.
Gold loans are much cheaper than personal loans. Also, there is very little time to get approval for a gold loan. In such a situation, in the midst of the corona crisis, gold credit has become the first choice of ordinary people.
Read more | How to unlock the phone while wearing the mask?
Follow us on social media to get instant news and share your thoughts.
முகZEETamilNews on Facebook, on Twitter @ZeeTamilNews And Like the page at Telegram https://t.me/ZeeTamilNews.
Download Zee Hindustan Processor now to get all kinds of news in Tamil like Education, Entertainment, Politics, Sports, Health, Lifestyle, Social, Employment !!
Android Link – https://bit.ly/3hDyh4G
Apple Link – https://apple.co/3loQYeR