Top 5 Gold Loan Companies in India

 Gold loans are a special type of loan that you can acquire by presenting gold or gold accessories as collateral. You can get this loan easily, conveniently, and with very little documentation. The Gold loan historically is the loan that is disbursed in a short amount of time.

India is the largest consumer of gold jewellery and ornaments, and hence, you can easily avail of this loan. Gold loans have today, become a trend, wherein, people avail themselves of a gold loan as opposed to touching their ‘savings’, as it makes financial sense. Before you, as a customer, are given a loan on gold, the pledged gold goes through a purity check; the gold loan amount disbursed depends on the amount of the actual gold. 

Several banking and non-banking financial sectors offer you the opportunity to avail of a gold loan. Here are some of the top gold loan companies that you can consider to apply for gold loan.

The top 5 gold loan companies in India

As Indian citizens consume the largest amount of jewellery made of gold, you can get a gold loan easily. Researching about the different gold loan providers that provide the option of a gold loan is important. This is because different companies can have different schemes Here’s a sneak-peak into the Gold schemes

Bajaj Finserv gold loan: With no foreclosure charges, or part pre-penalty charges, you can get up to 1 crore of Gold Loan, with minimum documentation and the most competitive interest rates. 

Muthoot finance gold loan: Muthoot Finance Ltd. grants you the opportunity of availing yourself of the gold loan at a low rate of interest.

IIFL finances gold loan: This Company offers you to avail of the gold loan, the same day. They also provide you with the convenience of availing of the gold loan with very little documentation.

HDFC bank gold loan: HDFC bank helps you to get 80% of the market value of your gold as a loan.

Canara bank gold loan: They term their loan on gold as Swarna Loan and has two variants - Swarna Overdraft and Swarna Express

Read  Also: Gold Loan Repayment in 5 Easy Ways

Hence, these are the top five gold loan companies that you can consider while looking for a gold loan company. Opt for a Bajaj Finserv gold loan to get your gold loan with very low processing charges and low-interest rates.