Personal Loan vs Gold Loan

[Babba]

I have a personal loan and I am thinking of getting a gold loan to repay the personal loan.
Is it a good option and which bank is good for gold loan??

 

[anuragmukherjee28]

Yes, taking a gold loan to close a personal loan can be a good option if your personal loan interest is high, because gold loans usually have much lower interest rates. It can reduce your EMI and overall interest burden, but you must be sure you can repay on time since your gold is kept as security. Banks like SBI, HDFC, ICICI, and Axis are generally reliable for gold loans. Compare interest rates and charges carefully before deciding.