apply for
Gold Loan
Gold Loan Interest Rate and Charges
Gold loans are disbursed swiftly, and have low interest rates and minimal service charges. Different banks and NBFCs offer different interest rates depending on factors like purity of the gold ornaments pledged, total loan tenure and scheme offered by the lender. eJOHRI has partnered up with some well-known NBFCs and banks like HDFC, Muthoot Finance, Fincare Small Finance Bank, Indiagold, IIFL and Mangal Credit and Fincorp Ltd for gold loans. Choose the best scheme for yourself depending on the banks’ current interest rates, gold loan charges, and tenure.
Calculate Your Loan EMI
Interest rates impact your repayment sum. Fortunately, you can pay off your loan against gold through EMIs. Use our convenient EMI calculator to find out what that amount is likely to be. Just enter your loan amount, interest rate, and loan tenure to find your EMI.
Interest Rate Range
| Minimum Interest Rate (Annually) | Maximum Interest (Annually) | Maximum Tenure | |
|---|---|---|---|
| HDFC | 8.95% | 17.20% | 24 months |
| Muthoot Finance | 12% | 26% | 36 months (on EMI plans) |
| Fincare | 10.99% | 24.99% | 9 months |
| India Gold | 10.2% (0.85% per month) | 19.8% (1.65% per month) | 6 months (renewable) |
| IIFL | 9.48% (0.78% per month) | Available on request | 24 months |
| Mangal Finance | 9.60% (0.80% per month) | Available on request | 12 months |
Note: The interest rates on gold loans are true as of May 2021. Rates are subject to change.
Charges & Fees
Here are gold loan fees and charges of eJOHRI’s partners:
| Processing Fee / Service Charges | Valuation Fees | Preclosure and Prepayment Charges | Penalty Charges or Interest Rates | |
|---|---|---|---|---|
| HDFC | 1% of loan amount | Rs 250 + tax up to 1.5L/packet/loan Rs 575 +tax above 1.5L/packet/loan | Prepayment - 1% loan + taxes | 2% per month for loan amount |
| Muthoot Finance | 0.50% for loans less than 25L. 0.25% for loan more than 25L | Available on request | Available on request | Rs.30/notice (for 3 notices.) when payment is overdue. Rs. 120 for final notice |
| Fincare | 0% to 0.50% | Nil | Nil | 3% to 6% step-up on ROI (Rate of Interest) post loan maturity |
| India Gold | Nil | Available on request | Available on request | Rates decided by loan manager |
| IIFL | Starting from Rs. 0 onwards | Rs. 500 (Known as MTM Charges) | From Rs. 0 to 150 if you close the account before 3 months | Available on request |
| Mangal Finance | Available on request | Available on request | Available on request | Available on request |
Note: The charges above are accurate as of 2021. Some of the rates here are discounted in case of timely payments.
Frequently Asked Questions (FAQs)
Lenders look at the average or current rate of gold in the market while evaluating your ornaments. As per RBI’s guidelines, you can get up to 75% of the value of the gold ornaments that you pledge.
Yes, you can. But keep in mind that some of banks have prepayment or preclosure penalties if you terminate the account or repay the money within a few months. Contact the bank’s representatives before deciding to pay off the loan before its tenure.
eJOHRI acts as your one-stop-shop for gold loans. You can find top goal loan provides at the eJOHRI gold loan website and easily access their offerings. eJOHRI representatives will help you through entire application and verification process do that your loan gets disbursed swiftly.