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Gold loans News

13 Oct 2021

PNB gold loan: Punjab National Bank reduces interest rate on gold loans

PNB now offers loans against Sovereign Gold Bond (SGB) at 7.20 per cent. It now also offers loans against gold jewellery at 7.30 per cent. PNB has also reduced the interest rates on home loans that now starts from 6.60 per cent.

03 Sep 2021

Gold loan outstanding rings alarm bell, jumps 77% in 12 months up to July

The sharp rise in gold loans hints at how the COVID-19 pandemic has impacted Indian households. The pandemic-induced lockdowns, unemployment and increased medical bills are to blame for the rise in gold loans. During the reported period, credit card outstanding also soared by 9.8 per cent to Rs 1.11 lakh.

06 Jun 2021

Planning to take gold loans? Check the interest rate offered by banks

A gold loan is basically when a person takes loans against gold (within a range of 18-24 carats) from a lender. Many banks give gold loans for a maximum loan to value ratio of 75 percent of the current market price of the gold. Some of the common documents required include identity proof of the borrower like the Aadhaar Card, PAN, Voter ID, etc., photographs, address proof, among others.

Financial planning

30 Apr 2021

Looking for funds amid COVID-19 pandemic? Try these options

If someone possesses a car, he/she can get a loan against it if they are in dire need of funds. It is a type of credit facility that is linked to a bank account and a user can get money from an account even if there is no money left in the account. People can also look for loans against gold as it comes at a lower interest rate and there are several lenders which offer gold loans.

gold loan companies

07 Sep 2017

Gold loan cos profit surge on better collection, small tenure

The jump in profitability of these players increased after they changed their business model-periodic collection of interest on the loans and lowering of product tenures in early 2014.

24 Aug 2017

Bandhan Bank focuses on gold loan, initiates listing process

In a bid to strengthen the retail loans portfolio, the private lender Bandhan Bank is focusing on gold loans along with affordable housing segment, a top official said on Thursday.

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