Gold loans have become one of the fastest-growing credit segments in India, with total outstanding gold loans crossing ₹1.2 lakh crore. If you are considering a gold loan, comparing lenders on interest rate, LTV ratio, processing fees, and repayment flexibility is essential. Here is a 2026 comparison of the major lenders.
Muthoot Finance
India's largest gold loan NBFC offers interest rates starting from 12% per annum for standard schemes and going up to 26% for certain bullet repayment schemes. The LTV ratio offered is up to 75% of the gold's value. Muthoot is known for its speed — most loans are disbursed within 30 minutes. It has over 5,000 branches across India.
Manappuram Finance
Manappuram offers gold loans at rates ranging from 12% to 29% per annum, with a focus on short-tenure schemes ranging from 3 to 12 months. Their Online Gold Loan product allows borrowers to apply and manage loans digitally with doorstep gold pickup in select cities.
SBI Gold Loan
State Bank of India offers gold loans at relatively lower interest rates starting from around 8.75% per annum for its SBI Gold Loan scheme, making it one of the cheapest gold loan options available. However, SBI requires higher documentation and the processing is slower than NBFCs, typically 1–2 working days.
HDFC Bank and ICICI Bank
Both private sector banks offer gold loans at rates between 10% and 17% per annum. They offer the advantage of integration with existing savings and current accounts, allowing EMI repayments to be automated. Their LTV ratio is up to 75% per RBI norms.
Which Lender Should You Choose?
For the lowest interest rate: SBI. For the fastest processing: Muthoot or Manappuram. For digital convenience: Manappuram Online. For integrated banking: HDFC or ICICI. Use our gold loan calculator to estimate loan amounts and EMI across these lenders.