Synopsis: Gold loans remain one of the fastest ways to access funds by pledging gold jewellery as collateral. In 2026, several banks and NBFCs are offering competitive interest rates starting below 9% per annum. This guide compares the top lenders, their rates, loan limits, and features to help borrowers choose the best gold loan option.
A gold loan is a secured loan that requires borrowers to provide their gold jewelry as collateral in order to receive cash. Gold loans provide borrowers with lower interest rates together with easier documentation and faster loan processing times, which make these loans suitable for emergency situations and business requirements and cash flow needs.
The year 2026 will see banks and NBFCs provide their customers with attractive interest rates, which include some lenders who offer interest rates under 9 percent per annum to qualifying borrowers.
Top 7 Banks for Gold Loans in 2026
1. Bank of Maharashtra
- Interest Rates:
- Up to ₹ 10 Lakhs – 8.50%
- Up to ₹ 5 Lakhs – 9.00%
- Up to ₹ 2.50 Lakh – 9.25%
- Amount of Loan: ₹20,000 onwards up to ₹100 lakh (based on the value of gold)
- maximum tenure: 24 months
- LTV: 75% on gold value.
- Features: Among the public sector banks, its base rate is one of the lowest; it remains trustworthy for long-run borrowers.
- Senior Citizens: Price may be negotiated for a reduction in official fees, just like in the case of other borrowers.
- Ideal for borrowers who want a low interest rate.
2. Axis Bank
- Interest Rate: 9.75% to 17.00% p.a
- Loan Amount: ₹50,001 to ₹40 lakhs
- Tenure: 6 months to 36 months
- Processing fee: up to 1.5% + GST of loan amount
- LTV: 75% on gold value
- Features: Instant, online applications are available. Flexible re-payment plans
- Senior Citizens: Common interest rates; varying branches are authorized for processing fees.
- Suitable for borrowers who want a loan with good rates and private bank convenience.
3. ICICI Bank
- Interest Rate: 8.75% to 16.65% p.a.
- Loan Amount: Up to ₹2 crore
- Tenure: 6 months to 12 months
- Processing fee: up to 2% of loan amount
- LTV: 75% on gold value
- Features: fixed rate, quick permission, swift funding, multiple repayment options
- Senior Citizens: Standard rates are applicable with some concessions on relationship-based facilities available at selected centers.
- Customers looking for fast processing and flexible repayment options should consider this bank.
Also read: ₹8 for Every ₹100 Spent: Here’s Why Airtel Axis Bank Card Is Still One of the Best Cashback Cards in 2026
4. Bank of Baroda
- Interest Rate: 9.00% to 9.15% p.a. and floating interest rate 9.25% p.a. (OD scheme)
- Loan Amount: up to ₹50 lakh
- Tenure: 12 months standard; up to 36 months under EMI scheme
- Processing fee: Nil for loans up to ₹3 lakh; nominal fee + GST above ₹3 lakh up to ₹50 lakh
- LTV: 75% on gold value
- Features: fixed interest rates that can be approved quickly and disbursed without delay while offering various repayment methods that include EMIs, interest-only payments, or bullet repayment options.
- Senior Citizens: Standard rates are applicable with some concessions on relationship-based facilities available at selected centers.
- It is helpful for the borrowers who are looking for a trustworthy bank PSU as security; the competitive rates of gold loans and the repayment options vary.
5. State Bank of India (SBI)
- Interest Rate: Starts at 8.65% to 9.95% p.a., depending on the scheme.
- Rate Type: Both Fixed & Floating
- SBI often links gold loans to MCLR/RLLR for benchmark-tied products.
- Loan Amount: ₹20,000 to ₹50 L
- Tenure: 3 months to 36 months
- Processing fee: Nil for loans up to ₹3 lakh; 0.30% of loan amount, subject to a minimum of ₹500 and a maximum of ₹10,000 + GST
- LTV: 75% on gold value
- Features: EMI, bullet, and other flexible repayment choices
- Senior Citizens: Standard published rates; branch concessions possible
6. Bajaj Finance (NBFC)
- Interest Rate: 9.50% to 24% p.a. depending on amount and tenure
- Rate Type: Fixed only (NBFCs generally price gold loans as fixed annual rates)
- Loan Amount: ₹5k to ₹2 crore (wide NBFC range)
- Tenure: Up to 12 months typically
- Processing fee: 0.20% of the loan amount
- LTV: 75% on gold value
- Features: quick disbursement and online processing and no-cost gold protection.
- Senior Citizens: Standard rates without providing any additional discounts through a separate publication
7. Manappuram Gold (NBFC)
- Interest Rate: 9.90% p.a. starting (may vary by scheme)
- Rate Type: Fixed only (NBFC gold loans generally fixed)
- Loan Amount: Varies as per pledge and valuation
- Tenure: Typically up to 36 months
- Processing Fee: small fee of ₹25 (excluding taxes)
- LTV: 75% on gold value
- Features: Rapid approval, flexible repayment
- Senior Citizens: Standard rates and special discounts, which differ between their branches
Key Takeaways
- For the lowest interest rates, choose Bank of Maharashtra (fixed).
- For floating rate options, choose SBI (MCLR/RLLR linked).
- For higher loan amounts and fast online processing, choose Axis Bank or ICICI Bank.
- For quick NBFC gold loans, choose Bajaj Finance or Manappuram Gold.
Note: Before banks’ selection, borrowers need to evaluate loan duration and application charges and special benefits for elderly people and payment options. The best gold loan for your financial needs can be determined by comparing official interest rates and available schemes.
Conclusion
Gold loans in 2026 provide immediate cash through their competitive interest rates and their various repayment methods. For borrowers seeking the cheapest gold loan in India, public sector banks like Bank of Maharashtra lead on low rates, while SBI provides both fixed and floating options for smarter financial planning. The best gold loan interest rates, which match your loan amount and tenure, and senior citizen benefits will be obtained through a comparison of leading banks and NBFCs.
Disclaimer: Interest rates are indicative and may vary based on loan amount, scheme, and borrower profile as per the respective bank/NBFC websites (checked on 9 March 2026).
Written by – Ameet S
