Best Banks for Gold Loan in Shimla
Feature |
HDFC Bank |
Private Bank |
Muthoot Finance |
Interest Rate |
9.90% |
10.50% |
12% |
Min Loan Amt |
Metro : 25000, Non : 15000 |
25000 |
15000 |
Max Loan Amt |
1 Cr |
1 Cr |
1 Cr |
Loan Tenure |
3 months to 24 months |
9 months to 24 months |
1 month to 24 months |
Processing Fee |
0.25% to 1.50% of the Loan Amt |
0.25% to 1.50% |
Nil |
Preclosure Chgs |
2%, Nil foreclosure charges after 3 months |
2%, Nil foreclosure charges after 9 months |
Nil |
Overdraft Facility |
Yes |
Yes |
Yes |
Pay Only Interest Facility |
Yes |
Yes |
Yes |
Gold Rate Per Gram |
2500 |
2600 |
2700* |
Gold Loan Shimla Features
Gold Loans are now pretty easy and convenient to avail of as most of the major banks and NBFCs provide the service at a reasonable Gold loan interest rate and minimum documentation. Gold Loans are secured loans that can be availed against your Gold ornaments/Jewelry as collateral or security deposit mostly for short-term credits. Banks sanction Gold Loan easily because you repay the amount in the form of interest at regular intervals.
Key Features:
⍟ Get Loan in 30 Minutes
⍟ Highest Gold Rate in India
⍟ 100% Safety of Your Gold
⍟ Minimum Documentation
⍟ Without EMI Gold Loan
⍟ Gold Loan in 1 Visit
⍟ No Melting of Gold
⍟ 24 x 7 Online Payment Facility
⍟ No Hidden Charges
GOLD LOAN @ 0.75%*
APPLY NOW
Gold Loan Rate Per Gram in Shimla- Mar 29 2025
₹ 72,800 to ₹ 78,350Gold Loan in Shimla Interest Rates and Charges- Mar 29 2025
7.25% per annum
GOLD LOAN @ 0.75%*
APPLY NOW
Gold Loan Eligibility Criteria in Shimla
| Minimum and Maximum Age |
21 Yrs – 60 Yrs
Note: However, many banks require a minimum age of 23 years |
| Loan Amount |
Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh
Interest rates are lower for a higher loan amount |
| Employment Type |
Salaried and self-employed both are eligible
Businessmen are increasingly taking gold loans to meet their working capital requirements. In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans. |
| Quality of Gold |
Gold ornaments should range in between 18 to 24 Carats
An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22 |
| CIBIL Score |
Banks do not check CIBIL score for granting a gold loan
However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score |
| Gold ornaments that can be used for availing loan |
Gold bars and coins
Gold with 18-24 carat purity |
| Employment track record and income proofs |
Banks do not check your job stability or business stability to sanction you a gold loan. Gold loans are granted without income proofs. You only need to submit your basic KYC documents such as address proof, identity proof, and an Aadhaar card to avail of this loan.
|
Gold Loan in Shimla Documents Required
At the time of application the following documents are required:
- Proof of the citizenship of India
- Duly filled application form
- 2 passport-sized photographs
- Applicant’s KYC documents to establish Identity and Address
- Salary/ Income Proof
- Witness Letter in case of illiterate borrowers
- In the case of Agriculture Loan of more than Rs. 1 lac, land proof
- Certificate by the Jewel Appraiser (Bank will arrange)
At the time of disbursement the following documents are required:
- Demand Promissory Note & Demand Promissory Note Take Delivery Letter
- Gold Ornaments Take Delivery Letter
- Arrangement Letter
Gold Loan in Shimla Eligibility Criteria
- He/She should be salaried or self-employed.
- The applicant’s minimum age should be 21 years and maximum age of up to 60 years.
- The applicant should be an Indian National.
GOLD LOAN @ 0.75%*
APPLY NOW
How to Apply for Gold Loan Shimla
Online Process to Apply for Gold Loan Shimla
- You can apply for the Gold Loan per gram at Dialabank anytime.
- Just fill an online form using the necessary details.
- Our relationship manager will then contact you for any assistance required.
- You can also avail of a document pick-up facility from your doorstep.
- For more information about Gold Loan Shimla, you can call on 9878981166.
Dialabank is considered a leading and trusting platform to apply for a gold loan online. The reasons behind this are as follows:
- Dialabank is India’s first financial helpline; Dialabank provides the best financial services to applicants all over the country.
- Gold Loans can be availed at a Lowest Interest Rate On Gold Loan with minimum documentation requirements.
- Dialabank has a good reputation among the customers because of its fast services.
- Dialabank offers a document pickup facility from the doorstep of the customer.
- Dialabank does not charge any additional fees.
- The Relationship managers of Dialabank are instructed thoroughly and assist the customer without any hesitance.
Offline Process to Apply for Gold Loan Shimla
Gold loans can also be availed through an offline process that requires physically visiting the nearby bank branches.
The applicants need to search for the nearby banks offering Gold Loans and visit the nearest branch. Thereafter, their relationship manager will correspond and assist you according to your need.
Processing Fees / Prepayment Charges on Gold Loan Shimla
Bank |
Processing Fee |
Prepayment Charges |
HDFC Bank Gold Loan |
0.25% to 1.50% |
2%, Nil foreclosure charges after 3 months |
Axis Bank Gold Loan |
0.50% to 1.50% |
Nil |
Private Bank Gold Loan |
0.25% to 1.50% |
2%, Nil foreclosure charges after 9 months |
SBI Gold Loan |
500/- to 0.50% |
Nil |
Kotak Gold Loan |
1% to 2% |
2.25% of fore closure amount if closed 1 month ahead of the tenure.
|
IIFL Gold Loan |
Nil |
Nil |
Muthoot Gold Loan |
Nil |
Nil |
Manappauram Gold Loan |
Nil |
Nil |
PNB Gold Loan |
0.70% to 1% |
Nil |
Canara Bank Gold Loan |
1% |
Nil |
Andhra Bank Gold Loan |
Nil |
Nil |
GOLD LOAN @ 0.75%*
APPLY NOW
EMI Gold Loan Scheme with Bullet Repayment Scheme Comparison
| Monthly Payment | EMI Scheme (₹) |
Bullet Repayment (₹)
|
| Month 1 | 27007 | 3625 |
| Month 2 | 27007 | 3625 |
| Month 3 | 27007 | 3625 |
| Month 4 | 27007 | 3625 |
| Month 5 | 27007 | 3625 |
| Month 6 | 27007 | 3625 |
| Month 7 | 27007 | 3625 |
| Month 8 | 27007 | 3625 |
| Month 9 | 27007 | 3625 |
| Month 10 | 27007 | 3625 |
| Month 11 | 27007 | 3625 |
| Month 12 | 27007 | 3625 |
|
Bullet Payment (At the end of 12 months)
|
₹ 3 Lakh | |
| Total Payment | ₹ 3.24 Lakh | ₹ 3.44 Lakh |
CIBIL Score Required for Gold Loan Shimla
Most of the major banks and NBFCs offer Gold loans without asking for the CIBIL score. The applicant should have all the necessary documents and must fulfill the eligibility criteria.
GOLD LOAN @ 0.75%*
APPLY NOW
Compare Gold Loan Rate Per Gram and Lowest EMI of All banks in Shimla
| Bank | Interest Rate | Lowest EMI Per Lakh |
Eligible Loan Amount For Max Tenure
|
| SBI Gold Loan | 7.50% | Rs. 3,111 |
Rs. 20 Lakh for 36 months
|
| Muthoot Gold Loan | 11.99% | Rs. 3,321 |
Rs. 50 Lakh for 36 months
|
| Manappuram Gold Loan | 12.00% | Rs. 8,885 |
Rs. 1 Cr for 12 months
|
| HDFC Bank Gold Loan | 9.90% | Rs. 4,591 |
Rs. 50 Lakh for 24 months
|
| Yes Bank Gold Loan | 9.99% | Rs. 3,226 |
Rs. 50 Lakh for 36 months
|
| Private Bank Gold Loan | 10.00% | Rs. 8,792 |
Rs. 15 Lakh for 12 months
|
| Federal Bank Gold Loan | 8.50% | Rs. 8,722 |
Rs. 75 Lakh for 12 months
|
| Canara Bank Gold Loan | 7.65% | Rs. 8,683 |
Rs. 10 Lakh for 12 months
|
| Andhra Bank Gold Loan | 10.70% | Rs. 8,824 |
Rs. 2 Cr for 12 months
|
| Axis Bank Gold Loan | 13.00% | Rs. 4,754 |
Rs. 20 Lakh for 24 months
|
| IndusInd Bank Gold Loan | 10.00% | Rs. 8,792 |
Rs. 10 Lakh for 12 months
|
| PNB Gold Loan | 8.75% | Rs. 8,734 |
Rs. 10 Lakh for 12 months
|
| Fincare Small Finance Bank Gold Loan | 12.99% | Rs. 11,721 |
Rs. 40 Lakh for 9 Months
|
Gold Loan Shimla Agent and Contact Number
Dialabank is the leading agent for availing of Gold Loan in Shimla. You can apply at www.Dialabank.com or contact at 9878981166.
Dialabank helps you to find the best option for Banks and NBFCs by offering you a detailed market comparison of different banks so that you can make the right decision. Visit www.Dialabank.com and fill an online form with your details. Our executives will soon get in touch with you.
GOLD LOAN @ 0.75%*
APPLY NOW
Gold Loan Shimla Contact Number
Contact at 9878981166 and get instant help and approval for Gold Loan in Shimla.
FAQs About Gold Loan
✅ Are all residents of Shimla eligible for availing of a gold loan?
No, those who follow these criteria are eligible:
- Above 18 years of age
- The applicant’s maximum age is 70 years at loan maturity.
- The consumer or his/her family member is in ownership of gold of a minimum of 18 carats.
✅ The applicant should be an Indian resident or gold loans a better choice than personal loans in Shimla?
Gold loans are better as they get disbursed easily, demand less documentation, offer a higher loan amount, and allow flexible repayment.
✅ Do I need proof of income for a gold loan?
No, a gold loan doesn’t need income proof, but only requires id proof, signature proof, and address proof.
✅ Should I be worried about my jewelry?
No, your jewelry is safe in the banks as it is guarded by cameras and other equipment. The gold is kept in lockers that match the applicable standards.
✅ How do I repay my gold loan in Shimla?
For repaying a gold loan in Shimla, you can make monthly EMI payments to the banks until the tenure ends, or pay the entire amount in the end. These payments can be made through cash/ DD/ cheque or online transactions.
✅ What does a gold loan mean?
A gold loan is a secured loan in which a person can keep his gold ornaments as a security with the bank in exchange for the loan amount.
Pre Calculated EMI Table for Gold Loan Shimla
Rate |
5 Yrs |
4 Yrs |
3 Yrs |
10.50% |
2149 |
2560 |
3250 |
11.00% |
2174 |
2584 |
3273 |
11.50% |
2199 |
2608 |
3297 |
12.00% |
2224 |
2633 |
3321 |
12.50% |
2249 |
2658 |
3345 |
13.00% |
2275 |
2682 |
3369 |
13.50% |
2300 |
2707 |
3393 |
14.00% |
2326 |
2732 |
3417 |
14.50% |
2352 |
2757 |
3442 |
15.00% |
2378 |
2783 |
3466 |
About Shimla
The capital city of the state Himachal Pradesh, Shimla is a popular tourist destination throughout the year. Numerous places of attraction and pleasant weather with natural beauty make it a perfect holiday retreat.
Gold loan in other cities
| Gold Loan Narwhal | Gold Loan Nalagarh |
| Gold Loan Nahan | |
| Gold Loan Mandi | Gold Loan Manali |
| Gold Loan Laxmi Nagar | Gold Loan Kurla |
गोल्ड लोन शिमला के बारे मे हिंदी मे जाने
