Federal Reserve – 8.50 percent
SBI – 7.30 per cent
Punjab & Sind Bank – 7%
Punjab National Bank – 8.75 per cent
Canara Bank – 7.35 per cent
Bank of India – 7 percent
Bank of Baroda – 9.00 per cent
Bank of Karnataka – 8.49 per cent
IDBI Bank – 7 percent
HDFC Bank – 11 percent
Important things to look for when buying a jewelry loan:
Keep in mind that your gold should not be less than 18 carats before borrowing. This is because many banks do not lend less than 18 carats of gold.
It is mandatory to have Aadhar or Ban card to buy gold loan.
Like ordinary loans, gold is offered in different timeframes. Banks offer gold loans for 3 months to 36 months.
You can try to get gold loans mostly from government banks. Because the interest rate there is low.