Yes. Farmers are eligible for some of the lowest interest rates on gold loan schemes, especially if they plan to use the borrowed funds for agriculture-related requirements. The loan amount can be used to fund farming-related activities, like agriculture infrastructure. Farmers can get rebates of 1-2%, resulting in some of the lowest interest rates on gold loan schemes.
Yes. A borrower’s credit score impacts the offered interest rate on a gold loan. The lowest interest on gold loan schemes will be offered to borrowers with high credit scores, as a high credit score shows that one is a responsible borrower. This not only allows borrowers to get the best gold loan interest rate but also better loan terms.
There are several ways for you to avail yourself of the lowest interest rate on gold loan schemes. Check your credit score and improve it, if required. Explore different gold loan schemes as the loan against gold interest rate varies from one scheme to another. You can also consider opting for a shorter loan tenure for a lower interest rate on your gold loan.
Under the CSR initiative of Muthoot Finance, 10 Lakhs (2 Lakhs*5) were donated to Bhagwan Mahavir Child Welfare Trust, Jaipur, Rajasthan for financially assisting 5 meritorious students to prepare for NEET and JEE entrance exams on 25th Nov 2024.
