You can easily obtain a loan if you have gold to pledge. Where, though, is the low interest rate? How much is the processing fee? Are there any other charges? You must be aware of all of these in order to obtain a loan.

SBI
Loans ranging from Rs. 20,000 to Rs. 50 lakhs are available.
Interest rate: 7.30% Duration of up to three years.
A processing charge of at least Rs.500 is required.

 Canara Bank
Loans ranging from Rs. 5,000 to Rs. 35 lakhs are available.
7.25 percent interest Duration of up to two years.
A processing charge of at least Rs.500 is required & a maximum of Rs. 5000

Federal  Bank
Loans ranging from Rs. 1,000 to Rs. 1.5 crore are available.
Interest rates start at 8.5 percent. Duration begins at 6 months.
Loans of up to 75% of the purchase price (LTV).

 South Indian Bank
Loans ranging from Rs 5,000 to Rs 10 crore are available.
Duration: 3–12 months
1 year MCLR + 0.45 percent interest
Loans of up to 73% of the purchase price (LTV).

Manappuram Finance
The interest rate ranges from 9.90% to 29.0%.
Maximum loan amount is Rs. 1.5 crore.
Low daily interest rate.
Payment in part.
Duration ranges from three to twelve months.

KSFE
From Rs 30,000 to Rs 25 lakh.
The interest rate is 9.5 percent. The penalty rate ranges from 1.5 to 2.25 percent.
Duration begins at 3 months.

Muthoot Fincorp
12% interest on loans up to Rs. 1 lakh, maturity of 6 months.
14% interest on loans up to Rs 1–3 lakh. Duration 9 months.
10% interest on loans up to Rs 3-5 lakh. Duration 9 months.

Muthoot Finance
Minimum loan is Rs. 1,500. There is no limit to the maximum.
Interest 12% to 27%.
Duration up to 3 years.
Payment can be made in advance and in part.

Kosamattam Finance
Loans ranging from ∙ 500 to Rs 50 lakhs.
16% for three month term on KF1 loan. 20% for 5 months.
15% for KF2 loan for three months. 28% interest for 9 months.

Know before you take out a loan

1. The loan amount is determined by the collateral’s movement and price.
2. When the price of gold rises, more money becomes available for lending.
3. Interest rates may differ depending on loan-to-value (LTV), maturity, and loan size.
4. It is not enough to just compare interest rates in order to find a low-cost loan.
5. In NBFCs, the longer the term, the higher the interest rate, but the larger the amount per gramme as compared to banks.
6. Before taking out a loan, be sure you understand how it will be repaid. I need to know if the EMI is single or dual. We can select the strategy
   that best meets our cash flow and income.
7. Find out if there is a price for early payment and early termination.
8. SMS and Reminders are also consumer-friendly gadgets to consider.