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Rakhi Mahadik   28 June 2022

Taking loan

which is loan is better to take personal loan or gold loan.

also it would be great if suggest any good bank or institution

Rakhi Mahadik


 2 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     28 June 2022

How can others tell for loan that is better to you.  You compare the banks interest and which loan has less interest.

Stella dsouza   04 April 2023

The choice between a personal loan and a gold loan depends on your individual needs and financial circumstances. These are some things to think about:

Loan purpose: A personal loan could be a better choice if you require money for either personal or business-related costs. A gold loan could be a better choice if you have gold assets that you can use as security and require money for an urgent necessity.

Interest Rate: Personal loans often have interest rates that are greater than gold loans. As gold is used as collateral, lenders view gold loans as less risky and therefore charge lower interest rates.

Loan amount:The maximum loan amount you may obtain for a personal loan is often more than a gold loan. This is so because the value of the gold that you pledge as security determines the loan amount for a gold loan. A personal loan could be a better choice if you want a greater borrowing sum.

Repayment Period: The repayment period for a personal loan is usually shorter than that of a gold loan. If you need a longer repayment period, then a gold loan might be a better option.

To know precisely which one shall be best for you, contact a lender to know the exact details of a loan. Prefer going with trusted firms like HDFC or IIFL Securities who shall provide you the right guidance. Also they curate loans for every individual. So, you can get the best deal.

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