Planning to take a gold loan? Here're rates, charges offered by banks

The disbursal is quick and interest rate is reasonable

• The interest rate on loan against gold starts at 7.25 per cent and goes up to 18 per cent per annum, which makes it a better alternative than credit cards. 
• Since it's a secured loan, lenders process it faster than a personal loan. 
• You will have to go physically to the lender’s branch to avail of it. Branches are open currently in green and orange zones. 
• You can get loan up to 60-80 per cent of the value of your gold. Some lenders transfer the money into your bank account within half an hour.
• This loan allows you to make partial payments of both interest and principal if you want to.  
• If you avail of an overdraft facility, interest is charged only on the amount borrowed and for the time you take to repay it.