Building your comparison…
Muthoot Finance vs State Bank of India Gold Loan
Side-by-side view of the loans you selected. Best values in each row are highlighted in emerald.
Building your comparison…
| Attribute | ||
|---|---|---|
Loan type | Gold Loan | Gold Loan |
Lender type | NBFC | Bank |
Interest rate | 12.00% – 26.00% | ★ 8.65% – 9.95% |
Rate type | Fixed / Floating | Floating |
Processing fee | 1% | ★ 0.25%, min ₹250, max ₹10,000 |
Prepayment penalty | NIL | NIL |
Late payment fee | 2-3% of EMI + applicable taxes | ₹500 + GST per instance |
EMI per ₹1 lakh (at min rate) | ₹8,885 | ★ ₹8,729 |
Total cost ★ Interest + processing on a standard scenario | ₹22,856on ₹3 L / 1y | ★ ₹14,991on ₹3 L / 1y |
Max loan amount | ★ ₹1 Cr | ₹50 L |
Tenure | 1 – 2 years | ★ 1 – 3 years |
Age range | 18–70 yrs | 18–70 yrs |
Min CIBIL score | 600 | ★ 0 |
Employment types | Salaried, Self employed, Professional | Salaried, Self employed, Professional |
Disbursal time | 5 minutes | Same day |
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