Lowest Gold Loan Interest Rates

Mode of calculation

• Interest rate will be quoted on annualized basis only.

• Interest amount will be calculated on the daily outstanding balance in the loan account at the contracted rate.

• Interest will be calculated on the basis of 365 days a year.

• Compounding, if any, will be provided in specific loan schemes.

• All loans carry the fixed contracted rate till closure of account.

Risk related rate of interest

• Since a higher LTV (loan per gram) translates to a higher risk interest rate and LTV will be correlated.

• Assuming all other factors to be the same a higher LTV loan will attract a correspondingly higher interest rate as compared with a lower LTV loan.

• The interest rate applicable will vary from time to time and will be mentioned against the specific operative schemes / loan products.

Penal Charges

• When the loan remains outstanding beyond the normal tenure,penal charges will be charged at 3% pa (i.e. contracted rate plus 300 basis points) on the amount due and payable till the account is regularized / closed