Some banks charge processing fees of up to 1.5 per cent plus GST on the loan amount, which you need to pay before the loan amount is disbursed. Banks also charge valuation fees over and above processing charges. For instance, HDFC bank charges a valuation fee (a fee charged for the efforts the bank takes to value your gold) of Rs 250 for a loan of up to Rs 1.5 lakh and Rs 500 for loans over and above Rs 1.5 lakh. … [Read more...] about What are the charges for gold loans, how is the value of ornaments calculated, which lenders are the best and other key questions answered
4 ducat gold coin
Sovereign gold bonds (SGB): SGB is issued by the RBI in tranches through scheduled commercial banks, recognised stock exchanges, designated post offices, etc. The minimum and maximum investment allowed to each individual investor per financial year is 1 gram and 4 kg, respectively. In addition to the potential of capital appreciation, SGB investors also benefit in the form of interest of 2.50 per cent annually payable in half yearly rests. While the interest income is taxable as per the tax slab of the investor, any capital gains resulting from the redemption of SGB is tax-exempt. Indexation benefits are applicable on long term capital gains arising out of transfer of bonds to other individuals. Another major advantage of SGB is the ability to use it as a collateral for availing bank loans. … [Read more...] about What’s the best way to invest in gold now?
Gold steadied near a one-week high on Thursday as the dollar weakened, but the yellow metal traded in a narrow $8 range as investors held back from making large bets ahead of the European Central Bank's monetary policy decision due later in the day. … [Read more...] about Gold at one-week high as weak dollar supports; ECB meet in focus
The dollar jumped to a near one-month high, as the pound dropped to a six-week low on renewed worries about Brexit and as risk appetite waned. A stronger greenback makes gold more expensive for holders of other currencies. … [Read more...] about Gold flat as dollar strength counters safe-haven demand
"Gold has become the go-to asset for investors in times of uncertainty. It has been on a ride with absolute returns of 40 percent year-to-date. Low yields in the US treasuries, low-interest rates and massive amount of liquidity pushed by major central banks across the globe has resulted in euphoria for the yellow metal," Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies at Angel Broking said. … [Read more...] about Increase in LTV ratio negative for gold loan financing firms, but good for banks: Experts