Gold loans: SBI to Canara Bank-7 banks with low interest rate

According to BankBazaar, these seven banks provide gold loans beginning at 8.8% on a Rs 5 lakh loan for one year.

The Bank of India charges 8.8% on a one-year Rs 5 lakh gold loan, the lowest bank gold loan rate. This EMI is Rs 43,360.

Indian Bank provides a one-year Rs 5 lakh gold loan at 8.95%. The monthly payment is Rs 43,390.

Canara Bank, HDFC Bank, and ICICI Bank charge 9% on one-year Rs 5 lakh gold loans. The EMI is Rs 43,400.

Bank of Baroda charges 9.15 per cent on a one-year Rs 5 lakh gold loan. Borrowers pay Rs 43,430 EMI.

Union Bank of India and Punjab National Bank charge 9.25 per cent on a one-year Rs 5 lakh gold loan. Borrowers pay Rs 43,450 EMI.

SBI provides a two-year gold loan of Rs 5 lakh at 9.6%. Borrowers pay Rs 43,615 EMI.