What you need to know
Public-sector banks lead on price, while NBFCs such as Muthoot, Manappuram and IIFL lead on speed, small ticket sizes and flexible schemes. All follow the same RBI rules on LTV, valuation, release and auction from April 2026.
All lenders compared
Lowest (starting) rateHighest published rate
8%13%18%23%28%
| 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.
Lender types
| Lender type | Lenders tracked | Range of starting rates |
|---|---|---|
| Public sector bank | 3 | 8.50% – 9.15% |
| Private sector bank | 2 | 9.10% – 9.75% |
| NBFC | 3 | 9.00% – 9.90% |
Special schemes
| Lender | Scheme / feature | Details |
|---|---|---|
| Indian Bank Jewel Loan | Agri Jewel Loan | For crop and allied activities |
| Indian Bank Jewel Loan | Retail Jewel Loan | Personal needs |
| Indian Bank Jewel Loan | MSME Jewel Loan | Working capital for small businesses |
| PNB Gold Loan | Advance against gold ornaments | Demand loan, overdraft or term loan |
| Muthoot Finance Gold Loan | Muthoot One Percent Loan | Low-rate scheme with regular interest servicing |
| Muthoot Finance Gold Loan | Muthoot Ultimate Loan | Highest LTV scheme, higher rate |
| Muthoot Finance Gold Loan | Muthoot Mudra Loan | For micro-enterprises |
| HDFC Bank Gold Loan | Sampoorna Bharosa Gold Loan | Branded gold loan offering |
| HDFC Bank Gold Loan | Overdraft against gold | Draw as needed; pay interest only on amount used |
| SBI Gold Loan | Multi Purpose (Agri) Gold Loan | For farmers: 8.85% p.a., fee nil up to ₹50,000 |
| SBI Gold Loan | Realty Gold Loan | Overdraft against gold for SBI home-loan customers |
| SBI Gold Loan | Bullet gold loan | Pay interest + principal together at the end of 3, 6 or 12 months |
| IIFL Finance Gold Loan | IIFL SPL schemes | Scheme-wise LTV and rate |
| IIFL Finance Gold Loan | IIFL Agri gold loan | For farmers |
| Axis Bank Gold Loan | Gold loan overdraft | Revolving limit against pledged jewellery |
| Manappuram Finance Gold Loan | Online gold loan | Top-up and repay through the app after the first pledge |
Frequently asked questions
Is a bank gold loan safer than an NBFC?
Both are RBI-regulated and must follow the same custody, insurance, release and auction rules. Banks usually charge less; NBFCs are faster.
For information and comparison only. Loan terms, rates and rules change — confirm with the lender and read the Key Facts Statement before borrowing.