Gold has an exceptional place in the hearts of Indians. It is extremely valuable not just monetary but also culturally. Gold is the only commodity in our country that has traditionally been able to withstand inflationary tendencies. Gold is regarded as a good store of value, and its owners have usually used it to get emergency financial loans. Assuming this there are many gold loan companies claiming to be the best. Check out the best gold loan companies in India.

Historically, only pawnbrokers and jewelers could make loans against gold jewelry and coins as security. However, they used to demand high-interest rates, making it impossible for the borrower to repay the loan and recover the pledged gold. Various financial organizations have already begun to offer Gold Loans to their consumers at competitive interest rates and with a simple application process. The numerous benefits provided by Gold Loan are playing a vital part in increasing its popularity among Indian consumers who want funds immediately for future demands. Check out the list of best gold loan companies in India

Best Gold Loans Companies in India in 2022

• Muthoot Financial Corporation

 It was founded in 1887 and is now one of India’s major gold loan NBFCs, having over 4200 branches. It makes gold loans and silver loans against gold jewelry in 10 minutes. When it comes to gold finance, it is without a doubt the most reputable name. The documentation needed is minimal. The monthly interest rate is less than 1%. Muthoot FinCorp provides several gold loan packages to fulfill various financial requirements. Muthoot FinCorp also offers inexpensive payments on 999 purity hallmark gold coins and jewelry.

• Kamadhenu gold loan

Kamadhenu gold loan is a major silver loan, diamond loan, and gold loan company in Chennai. They provide gold loans with simple procedures, quick processing, and low-interest rates. Kamadhenu gold loan is the most trusted financial services brand in Chennai. It is well-known for providing the best gold loan in India. Kamadhenu gold loan is a firm that offers loans against gold at the most competitive interest rates. It also provides several silver loan in Chennai options from which you may pick based on your needs. Each plan has its own set of benefits and caters to different types and demands of clients.

• Gold Finance in Manappuram

It was established in 1949. It now has 3,200 branches across the country. This calendar year has witnessed a rise in demand for its inventory. It has built a solid reputation for dependability and promptness throughout the years. It can also provide cash for a gold loan near me in 5 minutes. The loan amount is determined by the purity of the gold, and no time-consuming documentation is required. It provides several programs appropriate for all income categories and demands ranging from Rs. 2000 to Rs. 1 crore.

• ICICI Gold Loan

It has recently introduced Gold Loan programs. The offerings are both appealing and profitable. However, a few years of client happiness are required to get a better rating. Currently, ICICI Bank Gold Loan provides immediate loans ranging from Rs.10000 to Rs.15 lakhs for terms ranging from 6 months to a year, with the submission of relevant documentation. ETFs are available from ICICI Bank. ICICI has a simple online application process and a 45-minute gold loan disbursement. You can apply for a gold loan even if you do not have an ICICI bank account.

Best Gold Loans Companies in India

• SBI Gold Loan

SBI is India’s largest national bank, with unquestionably the greatest network. It provides the lowest interest rate on gold loans. The maximum loan payback time is 30 months, which is longer than any private or public player. It also makes loans to agricultural farmers. The main disadvantage is that it only offers a maximum loan of Rs. 20 lakhs. The documentation necessary is the same as that required to create a bank account. ETFs are also available.

• Federal Bank Gold Loan

To choose the best banking partner for obtaining a gold loan, the Federal Bank gold loan is the one you can rely on to get a hassle-free loan at a very low rate of interest on loan repayment. It is the most convenient way to get a gold loan and 24-hour loan withdrawal by debit card with overdraft capability on a gold loan. Transparency (no hidden fees), low processing fees, low-interest rates, and much more, so join hands with the Federal Bank to experience the world of gold loans.

Best Gold Loans Companies in India

Final Thoughts: 

With so many alternatives, don’t let your gold go unused in the event of a financial emergency. Get a Gold Loan and take care of your needs immediately. Go through the list of the best gold loan companies in India and make your decision now.