Nidhi Gold Loan interest rate 2025
Nidhi Gold Loan 2025
Nidhi companies are non banking financial companies in India. They provide mutual benefits for members accepting deposits and providing loans. Gold loans are one of the common loan products offered by Nidhi companies where members can pledge on their gold jewellery to secure their funds.
What are the Key Features of Gold Loans from Nidhi Companies:
Loan Amount: You can get loans ranging from ₹1,000 up to ₹2,00,000, that depends on the company’s policies and the value given on the pledged gold.
Loan-to-Value (LTV) Ratio: Nidhi companies will finance up to 80% of gold’s value.
Repayment Tenure: Gold loans repayment period is up to 12 months.
Interest Rates: Maximum Gold loan interest rates charged by Nidhi company doesn’t exceed 7.5% above the highest rate of interest offered on deposits
Security: Gold loans secured against gold ornaments to ensure safety of lenders funds.
Example of a Nidhi Company’s Gold Loan Offering:
Shubh Bhavishya Nidhi Limited (SBNL):
- Loan Amount is from Rs 1,000 up to 90% of the gold’s valuation.
- Interest Rate is 1.6% per month on reducing balance
- Repayment Tenure is from 1 to 12 months
- Quick loan disbursement directly to members bank account on document completion.
Important Considerations for applying Gold loan:
- Nidhi company can only avail its loan products. Its mandatory that borrowers must be the member before applying loan.
- Nidhi companies must follow some guidelines set in Nidhi Rules in 2014 their operations including interest rates and loan disbursement.
- When gold loans are secured and borrowers must asses its repayment in order to avoid risk in losing their pledged ornaments.
