Cheapest Gold Loan Banks in India — All 72 Ranked
Updated 30 Jul 2026
Bank of Maharashtra at 8.50% p.a. is India's cheapest gold loan today (July 2026), ranked by true 12-month cost across 72 banks — average 9.86%, 14 under 9%, on today's 22K gold of ₹13,230/g.
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As of July 2026, Bank of Maharashtra offers India's cheapest gold loan at 8.50% p.a. We rank by true 12-month cost on a ₹1 lakh loan — interest plus processing fee — because a low headline rate with a high fee can cost more. The gap between cheapest and costliest is ₹11,500; 14 banks start below 9% p.a.
Ranked by true 12-month cost · ₹1 lakh loan
| # | Bank | Rate from | Fee | 12-mo cost* |
|---|---|---|---|---|
| 1 | Bank of Maharashtra Lowest | 8.50% | Applicable charges + GST | ₹8,500 |
| 2 | Cosmos Co-operative Bank | 8.50% | — | ₹8,500 |
| 3 | Maharashtra Gramin Bank | 8.50% | — | ₹8,500 |
| 4 | SVC Co-operative Bank | 8.50% | — | ₹8,500 |
| 5 | Bank of India | 8.60% | Up to Rs 1,500 | ₹8,600 |
| 6 | Abhyudaya Co-operative Bank | 8.75% | — | ₹8,750 |
| 7 | Indian Bank | 8.50% | 0.25% + GST | ₹8,750 |
| 8 | Bank of Baroda | 8.85% | Nil up to Rs 3L; else applicable | ₹8,850 |
| 9 | Federal Bank | 8.99% | Nil | ₹8,990 |
| 10 | Canara Bank | 8.75% | 0.25% + GST (up to Rs 2,750) | ₹9,000 |
| 11 | indiagold | 9.00% | — | ₹9,000 |
| 12 | Indian Overseas Bank | 8.85% | 0.15%-0.30% + GST | ₹9,000 |
| 13 | Karnataka Grameena Bank | 9.00% | — | ₹9,000 |
| 14 | Madhya Pradesh Gramin Bank | 9.00% | — | ₹9,000 |
| 15 | TJSB Sahakari Bank | 9.00% | — | ₹9,000 |
| 16 | Central Bank of India | 8.80% | Nil till 30 Sep 2026; else 0.25% + GST | ₹9,050 |
| 17 | UCO Bank | 8.85% | Rs 250 to 0.25% (max Rs 4,000) + GST | ₹9,100 |
| 18 | Punjab National Bank (PNB) | 8.95% | 0.30% + GST | ₹9,250 |
| 19 | Saraswat Co-operative Bank | 9.25% | — | ₹9,250 |
| 20 | Kerala Gramin Bank | 9.30% | — | ₹9,300 |
| 21 | Punjab & Sind Bank | 9.35% | — | ₹9,350 |
| 22 | State Bank of India (SBI) | 9.15% | 0.25% (min Rs 250) + GST | ₹9,400 |
| 23 | Rupeek | 9.48% | — | ₹9,480 |
| 24 | CSB Bank | 9.49% | Nominal (per bank schedule) | ₹9,490 |
| 25 | City Union Bank | 9.00% | 0.50% + GST | ₹9,500 |
| 26 | Karur Vysya Bank | 9.00% | 0.50% + GST | ₹9,500 |
| 27 | South Indian Bank | 9.00% | Nil (some schemes 0.50% + GST) | ₹9,500 |
| 28 | Tamilnad Mercantile Bank | 9.00% | 0.50% + GST + valuation | ₹9,500 |
| 29 | Karnataka Bank | 9.53% | Nil | ₹9,530 |
| 30 | Union Bank of India | 9.10% | 0.50% + GST | ₹9,600 |
| 31 | Bajaj Finserv (Gold Loan) | 9.50% | 0.15% | ₹9,650 |
| 32 | Andhra Pradesh Grameena Bank | 9.75% | — | ₹9,750 |
| 33 | Telangana Grameena Bank | 9.75% | — | ₹9,750 |
| 34 | Tamil Nadu Grama Bank | 9.80% | — | ₹9,800 |
| 35 | Manappuram Finance | 9.90% | Rs 25 + taxes (nominal) | ₹9,900 |
| 36 | Muthoot Fincorp | 9.95% | Nominal | ₹9,950 |
| 37 | Fedbank Financial (Fedfina) | 9.99% | — | ₹9,990 |
| 38 | IDFC FIRST Bank | 9.50% | 0.50% + GST | ₹10,000 |
| 39 | Kosamattam Finance | 10.00% | Nominal | ₹10,000 |
| 40 | Kotak Mahindra Bank | 9.00% | Nil-1% + GST | ₹10,000 |
| 41 | Ujjivan Small Finance Bank | 10.00% | — | ₹10,000 |
| 42 | HDFC Bank | 9.10% | Up to 1% + GST | ₹10,100 |
| 43 | Axis Bank | 9.75% | 0.5% + GST | ₹10,250 |
| 44 | Dhanlaxmi Bank | 9.35% | 1% | ₹10,350 |
| 45 | Equitas Small Finance Bank | 10.49% | — | ₹10,490 |
| 46 | Nainital Bank | 10.50% | — | ₹10,500 |
| 47 | DCB Bank | 9.55% | Up to 1% (negotiable) | ₹10,550 |
| 48 | ESAF Small Finance Bank | 10.00% | 0.85% + GST | ₹10,850 |
| 49 | Muthoot Finance | 10.90% | Rs 100-1,000 (nominal) | ₹10,900 |
| 50 | Bandhan Bank | 10.99% | No hidden fees | ₹10,990 |
| 51 | Aditya Birla Finance | 10.00% | 1% + GST | ₹11,000 |
| 52 | Poonawalla Fincorp | 11.00% | — | ₹11,000 |
| 53 | RBL Bank | 10.00% | 1% + GST | ₹11,000 |
| 54 | TVS Credit | 11.00% | — | ₹11,000 |
| 55 | IndusInd Bank | 10.06% | Up to 1% (min Rs 750) | ₹11,060 |
| 56 | ICICI Bank | 9.15% | Up to 2% | ₹11,150 |
| 57 | Cholamandalam Investment & Finance | 10.50% | 1% + GST | ₹11,500 |
| 58 | Suryoday Small Finance Bank | 11.50% | — | ₹11,500 |
| 59 | Yes Bank | 11.00% | 0.75% + GST + Rs 150 doc | ₹11,750 |
| 60 | Tata Capital | 10.99% | 1% + GST | ₹11,990 |
| 61 | AU Small Finance Bank | 11.00% | Up to 1% | ₹12,000 |
| 62 | HDB Financial Services | 11.00% | 1% + GST | ₹12,000 |
| 63 | L&T Finance | 12.00% | — | ₹12,000 |
| 64 | Muthoot Money | 12.00% | — | ₹12,000 |
| 65 | Muthoottu Mini Financiers | 12.00% | — | ₹12,000 |
| 66 | Utkarsh Small Finance Bank | 12.50% | — | ₹12,500 |
| 67 | Indel Money | 12.00% | 1% (Rs 0-150) | ₹13,000 |
| 68 | Jana Small Finance Bank | 12.00% | 1% | ₹13,000 |
| 69 | North East Small Finance Bank | 12.00% | 1% | ₹13,000 |
| 70 | IIFL Finance | 11.88% | Up to 2% | ₹13,880 |
| 71 | Shriram Finance | 10.00% | Up to 5% | ₹15,000 |
| 72 | Jammu & Kashmir Bank | 10.25% | MCLR-linked; ~9.75% for women/joint/staff | ₹20,000 |
*True 12-month cost on a ₹1 lakh loan: the bank's minimum advertised rate for one year plus its processing fee. Rates are minimums; your offer depends on loan size, tenure and scheme. Updated 30 Jul 2026.
⚖️ RBI 2026
How much you can borrow depends on loan size
The smaller the loan, the higher the LTV the RBI allows.
85%
up to ₹2.5L
80%
₹2.5L–5L
75%
above ₹5L
Interest must be charged on a daily reducing balance, bullet-repayment loans are capped at 12 months, and a standardised Key Fact Statement (KFS) is mandatory before you sign.
How much can I borrow per gram?
At today's 22K rate of ₹13,230/g and the RBI's 85% LTV cap (loans up to ₹2.5 lakh), up to ₹11,246 per gram. See the per-gram estimator for your exact weight, or each bank's page for its own per-gram value.
FAQs
Bank of Maharashtra at 8.50% p.a. (July 2026), ranked by total 12-month cost including fees.
Processing fees change the real price. An 8.5% loan with a 1% fee can cost more over 12 months than a 9% loan with no fee. Total cost is what you actually pay.
At today's 22K rate of ₹13,230/g and the RBI's 85% LTV cap, up to ₹11,246 per gram. Each bank's page shows its exact value.
Bank rates are verified against official sources and the ranking recalculates as rates and gold prices change. Last updated 30 Jul 2026.
Related
Rates are indicative and subject to change — verify with the bank before applying. RatesToday is not a SEBI/RBI-registered advisor and this is not financial advice.