What you need to know
Gold loan rates range from about 8.5% at public-sector banks to 27% on high-LTV NBFC schemes. Your rate depends on the lender, scheme, LTV you choose, repayment pattern and loan size — NBFCs often cut the rate if you pay interest monthly and raise it if you do not.
Rates by lender
| Lender | Interest rate (p.a.) | Processing fee | Tenure | EMI per ₹1 lakh* | Rates as of |
|---|---|---|---|---|---|
| Indian Bank Jewel LoanPublic sector bank | 8.50% – 9.75% | About 0.25% + GST | Bullet up to 12 months; EMI up to 35 months | ₹8,722 | Jul – Sep 2026 |
| PNB Gold LoanPublic sector bank | 8.95% – 9.25% | 0.30% of loan or ₹500, whichever is higher, + GST | Up to 12 months for bullet/OD (renewable); up to 36 months EMI | ₹8,743 | Feb – Sep 2026 |
| Muthoot Finance Gold LoanNBFC | 9.00% – 22.00% | Service/processing charges vary by scheme; security charge 0.15% (₹100 – ₹1,000) | Up to 12 months (normal schemes) | ₹8,745 | Sep 2026 |
| HDFC Bank Gold LoanPrivate sector bank | 9.10% – 17.86% | Up to 1% of loan + GST; valuation ₹250 – ₹575 | 6 – 42 months (bullet up to 12 months) | ₹8,750 | Sep 2026 (aggregator) |
| SBI Gold LoanPublic sector bank | 9.15% – 10.10% | 0.25% + GST (min ₹250); waived on some bullet variants | 3 – 36 months (bullet up to 12 months) | ₹8,752 | Sep 2026 |
| IIFL Finance Gold LoanNBFC | 9.72% – 27.00% | Up to 2% + GST depending on scheme | Up to 2 years | ₹8,779 | Aug 2026 |
| Axis Bank Gold LoanPrivate sector bank | 9.75% – 17.00% | ₹300 up to ₹2 lakh; 0.50% + GST above ₹2 lakh | 6 months – 3 years | ₹8,780 | Sep 2026 (aggregator) |
| Manappuram Finance Gold LoanNBFC | 9.90% – 23.34% | Processing ₹25 + tax; insurance ₹25 | Short-term; scheme-dependent | ₹8,787 | Sep 2026 |
* At the lowest rate for 1 year. Starting rates go to borrowers with strong credit scores and income; your rate depends on your profile. Sources and dates on each lender page — confirm with the lender before applying.
What decides your rate
Lower LTV (borrowing less per gram) usually gets a lower rate.
Monthly interest servicing often earns a lower rate than bullet.
PSU banks cheapest; NBFC high-LTV schemes costliest.
Agri gold loans for farmers are cheaper and may get interest subvention.
EMI per ₹1 lakh
| Rate | 1 yr | 2 yrs | 3 yrs |
|---|---|---|---|
| 9.00% | ₹8,745 | ₹4,568 | ₹3,180 |
| 10.00% | ₹8,792 | ₹4,614 | ₹3,227 |
| 12.00% | ₹8,885 | ₹4,707 | ₹3,321 |
| 15.00% | ₹9,026 | ₹4,849 | ₹3,467 |
| 18.00% | ₹9,168 | ₹4,992 | ₹3,615 |
EMI for every ₹1 lakh borrowed. Multiply by your loan amount in lakh.
Frequently asked questions
Why is my NBFC rate higher than advertised?
Advertised rates often assume monthly interest payment and a low LTV scheme.
For information and comparison only. Loan terms, rates and rules change — confirm with the lender and read the Key Facts Statement before borrowing.