What are the festive season offers on interest rates for gold loans?

Festive season offers on interest rates for gold loans are generally offered by financial institutions in order to provide attractive terms and offers on gold loans for limited periods, to increase disbursements. However, applicants are advised to assess any festive offers based on their specific loan requirements. Here is what you can expect:

• Festive gold loan schemes often provide interest rate discounts compared to regular rates as promotional offers. However, the extent of discounts and eligibility criteria may vary across loan providers.
• Some loan providers may have special limited period lowest rate schemes applicable only for festive loans availed during certain weeks.
• Certain financial institutions are known to waive processing fees or documentation charges for loans disbursed under festive schemes.
• As an offer, select lending companies may not charge prepayment or foreclosure penalties if a festive gold loan is closed earlier within the promotional period.
• Waiver of appraisal/valuation fees on the pledged gold is another offer seen during festival periods.
• There could be an additional loan-to-value (LTV) ratio offered in some cases over and above the regular terms.
• Complimentary services like EMI holidays, cashback rewards, and discount vouchers may also be offered for a limited period.
• Referral bonus schemes to reward existing customers are commonly observed during festive seasons.