Gold loan News
DFS has also stated that such guidelines will need time to implement at the field level and hence may be suitable for implementation from January 1, 2026 only, the statement said.
Understand the factors influencing the gold rate in Chennai today and how Bajaj Finserv Gold Loan offers quick and easy access to funds based on the current gold price.
The RBI will publish draft guidelines for the consultation and then based on feedback it will be finalised.
Looking for quick access to funds? Get funds starting from Rs 5,000 to Rs. 2 crore at competitive gold loan interest rates with Bajaj Finance.
Lenders are also exploring the option of offering term loans secured by gold.
These restrictions were earlier imposed on March 04, 2024, which prohibited the Company from sanctioning, disbursing, or assigning/securitising/selling any of its gold loans.
Under Muthoot Fincorp Vyapar Vikas Gold Loan, the interest is calculated on a diminishing balance basis, ensuring that borrowers only pay interest on the outstanding amount.
RBI has said that it will issue a detailed guideline regarding the matter separately.
Muthoot Finance has signed a Memorandum of Understanding with UAE-based Lulu International Exchange
NRIs can deposit gold loan EMIs with Lulu International Exchange
There are over four lakh NRIs in the UAE
George Alexander Muthoot, MD, Muthoot Finance said, as the nascent economic recovery slowly takes roots, 2022 will be an important year to watch out for amidst the challenges posed by new Covid variants.
It's raining offers on SBI.
Get gold loan at 7.5% p.a.
Loan available on all SBI channels.
Below we’ve provided a comprehensive comparison of personal loans and gold loans so that you can make an informed decision on which would be better during an emergency.
Punjab and Sind Bank is offering the lowest interest rate among other banks at 7%.
The Bank of India is providing gold loans at a 7.35% interest rate.
Gold is selling at Rs 9000 lower than its all-time high.
HDFC Bank offering illustrative benefits to rural customers.
Offers for retail as well as business customers.
HDFC tapped over 3,000+ hyperlocal merchants and traders.
Earlier, loans sanctioned by banks against pledge of gold ornaments and jewellery for non-agricultural purposes would not exceed 75 per cent of the value of gold ornaments and jewellery.
RBI has now decided to increase the permissible loan to value ratio (LTV) for such loans to 90 per cent.
This relaxation shall be available till March 31, 2021.
The petitioner said he had taken a loan of Rs 1.23 lakh from the bank by pledging 131 grams of gold jewellery on April 6, 2010.
Muthoot said funds raised through this issue will be utilised primarily for lending activities.
The Reserve Bank has doubled the quantum of loan against gold that could be granted by Regional Rural Banks (RRBs) to Rs 2 lakh, provided the repayment period does not exceed 12 months.
UAE Exchange India, the leading financial institution has launched a new gold loan offer for the loyal customers in this special festive season.
Gold loan firm Muthoot Finance Monday said it has received a service tax notice demanding Rs 153.14 crore in taxes in addition to interest and penalty.
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