Gold Price in Chandigrah

Gold Price in Chandigarh

The gold price in Chandigarh keeps fluctuating according to changes in gold rate in the national and international markets. It is important to keep track of the changes in Chandigarh gold price if you are planning to get a Gold loan in Chandigarh.

Gold loan in Chandigarh

One can take a gold loan in Chandigarh whenever you need to take care of urgent expenses or emergency expenses. Have something that needs to be taken care of immediately? Then a gold loan in Chandigarh may be just what you need. Most banks and NBFCs give such credit lines. 

Chandigarh is a unique city in India as it is the capital of two states, Punjab and Haryana. Chandigarh is, apart from being a city, is also a district and a union territory of the country. It is therefore controlled directly by the Union Government of India.

 Chandigarh was one of the very first planned cities in India after Independence. It is known all over the world for its urban design and architecture. Chandigarh has one of the highest per capita incomes in the country and is on the top of the states and UTs in terms of Human Development Index. Chandigarh is currently the Happiest City in India according to the Happiness Index, and is one of the country’s Wealthiest Towns. As of 2015, its GDP was at .29 lakh crore. There are many industrial centers and commercials areas here. 

There is one thing you need to know before going for a gold loan in the city. The most important thing you need to know what is the gold rate today in Chandigarh. This is important as on this depends how much gold loan in Chandigarh you’ll be getting.

Before taking any gold loan, it is important to know about today's gold rate in Chandigarh or gold rate today in Chandigarh. After all, the loan amount you get depends on the gold rate and on the gold's karat. And therefore, it is also essential to know about the 24-carat gold rate today in Chandigarh and about the 22-carat gold rate today in Chandigarh.

Here are the general details of gold loans in Chandigarh:

  1. Loan amount- Rs. 50000 to Rs. 50 lakhs

  2. Loan tenure- 6 months to 2 years

  3. Interest rate-10.50% to 13.50%

Gold loan rates in Chandigarh today:

  1. DCB Bank- 14%

  2. SBI- 9.5% to 13%

  3. IIFl Gold Loan- 9.24% to 24%

  4. Muthoot Gold loan- 12% to 24%

  5. Manappuram Gold Loan- 12% to 24%

  6. ICICI Bank- 10.75% to 16%

  7. PNB-10.05% to 16%

  8. IndusInd- 13.50%

  9. HDFC- 10.25% to 14%

  10. Axis Bank- 10.50% to 16%

  11. Canara Bank- 9.75% to 13%

  12. HDFC Bank- 11.91%

  13. Dhanalaxmi Bank- 13.5%


At mymoneykarma, you can compare and find the perfect gold loan in Chandigarh for yourself.

Repaying gold loans is very easy nowadays. You have several repayment choices! You may choose to pay back the interest first, and then the principal. You may alternatively want to pay the principal and interest in a lump sum.

How to get gold loan in Chandigarh

You can get this after the submission of all necessary documents, and after you give the bank gold ornaments or gold jewelry. Giving gold items and jewelry in lieu of money is common in India and in Chandigarh as well. People commonly use these to get short-term loans. The processing of getting these loans is easy and simple, and that makes it more convenient for people to get these whenever they so require. However, do remember that these are short terms loans only. These are not for the long term. At the most, these have tenures of 2 to 6 years maximum. For short term loans, and if you have the loans, this can be the perfect way to get some cash. Also remember to know the current gold rate today Chandigarh.

Banks and other financial institutions give several benefits like nominal rate of interest, attractive offers and easy repayment options.

Chandigarh gold loan features 

  1. Fast loan processing

  2. Low interest rates

  3. No foreclosure charges

  4. Credit score is not an issue when getting loans, but it is recommended to have a score above 600

  5. Safety of your gold deposit as it remains with the bank till you pay back

  6. No processing fees in most banks and NBFCs

  7. Easy repayment options including paying only interest in installments, and afterwards the principal amount

Chandigarh gold loans highlights

  1. Requirements: All you need to do is to provide your KYC documents and passport sized photos. After this, the bank will sanction your loan after evaluating your gold. Just pay the interest regularly.

  2. Various schemes: Various banks offer a lot of schemes from which to choose the most suitable one.

  3. End use: Banks and NBFCs do not ask for how you will use the loan. You can get the money without revealing any reason for use.

  4. Loan amount: This depends on the gold’s value. Normally, you get 80% of the gold’s value.

How to get the lowest interest rate for gold loan in Chandigarh?

  1. Compare offers and interest rates of our site to know of the latest lowest interest rates.

  2. Always maintain a clean payment record to get the lowest rate on any loan

  3. Keep a high credit score, which should be above 600.

  4. Take advantage of seasonal benefits

  5. Ask your employer if the company has any tie-ups with banks in order to get better rates.

Chandigarh Gold Loan interest rates

Currently, the gold loan rate in Chandigarh is between 9.70% to 26%. If you want to lowest interest against your gold, keep a tab on what banks and NBFCs are offering. It is also important to know the price of gold in Chandigarh.

Benefits of gold loan in Chandigarh

  1. Less documentation

  2. Lower interest rates, starting from 12% to 16%

  3. Easy repayment options

  4. Fast and easy processing

Required gold loan documents

Generally, you’ll be asked for KYC documents and one address proof in order to get the gold loan sanctioned. You may also want to know the Chandigarh gold trading prices.

How to apply for a gold loan at mymoneykarma?

You can apply for a gold loan in Chandigarh from banks and NBFCs at mymoneykarma.If you are in Chandigarh wondering "how to get a gold loan near me", mymoneykarma is who can help you.

FAQs on Loan Against Gold

What is the definition of 'gold loan'?

Gold loan or loan against gold is a secured loan in which a customer pledges his/her gold ornaments as collateral with a gold loan company/lender. The lender, in turn, gives a loan amount as per the market value of gold to the customer. It is a very quick and easy way of fulfilling one’s financial needs as compared to the other loans.

Gold loan is a secured loan in which customers pledge their gold jewelry to banks or to Non-Banking financial corporations in order to get a short-term loan. Banks, NBFCs and independent lenders provide the loan amount, which depends on the market value of the gold ornaments. Gold loan is an easy way to get loans quickly for the fulfillment of immediate or pressing financial needs. Through gold loans, you can get loans faster and more easily than other forms of loans.

Which is better, a personal loan or a gold loan?

Paperwork for personal loans is not very elaborate, as long as basic eligibility parameters are met and KYC documents are furnished. While it is true that there are few financial products that can match the  versatility and flexibility of  personal loans, the emergence of secured gold loans bodes well for the loan scape, especially under the current circumstances that warrant an unstable employment scene. Learn in detail in this article.

Which loan should I pay off first?

When it comes to the requirement of funds, a person needs to approach long-term credit facilities that are offered by banks and NBFCs. These include personal loans, gold loans, home loans, vehicle loans, study loans, and more. Now, when getting loans for personal needs, or while getting one for personal use, people confuse between personal loans and gold loans. In case of personal loans, the interest rate is 2% to 5% higher when compared to a gold loan.

The main reason for this difference is that personal loans are unsecured, but gold loans are secured with your gold jewelry. To offset the risks for personal loans, banks charge you a higher interest rate.

Gold loans are better than personal loans. People prefer gold loans because they come with low interest rates, bigger loan amounts, faster disbursement, minimum documentation, and more flexibility in repayment. Even people with slightly low credit scores can get gold loans, which is not possible in the case of personal loans. 

Can I get an interest-free gold loan?

It is currently not possible, but there are other alternatives if you want lower interest rates.

  1. Government subsidy: If you want to get money for agricultural purposes, there are subsidies from the government of India. By these subsidies, you can get lower interest rates as low as 4%. 

  2. Good credit score; Banks and NBFCs have no problem with giving low-interest loans to those with high credit score. Having a high credit score means you are reliable in paying back loans. For this, your score needs to be above 750. Gold loan interest rates start at 9.95%.

  3. Selling the gold: If you are in dire need of money, consider selling the gold at the current value. That way, you won’t need to pay any interest and will get funds immediately. This will give you more value for your gold ornaments.

How do property loans and gold loans work?

When you face any financial dilemma, the very first thing that comes to mind is of taking a loan. Of course, there are personal loans. But these come with high interest rates, and therefore are stressful on the borrower. The good news is that there are alternatives like gold loans and property loans. These can be useful in times of financial stress. 

But which one is best for you? Let us find out:

Gold loan-


  1. Easy availability

  2. Flexible schemes

  3. Limited repayment problems as only your gold shall be lost


  1. Rising interest rates

  2. Lower Loan to Value Ratio

Loan against property:


  1. Lower interest rates


  1. Longer loan procedure

  2. Tough on non-repayment with property possession and its auction

  3. Stricter terms and conditions

What are alternatives available for gold loans?

There are several alternatives like:

  1. credit cards

  2. peer-to-peer loans

  3. unsecured personal loans and lines of credit

  4. salary advance

  5. small business loans.