Gold Silver Price Today: Thinking of buying gold? This report will prove helpful to you

Gold Silver Price Today: The wedding season is about to end. At the end of the wedding season, gold and silver prices have also stabilized. There was no significant change in the price of gold today, Tuesday 5 March 2024. If we talk about silver, its price is trading with a decrease of around 100 rupees. Let us tell you that the price of gold and silver is increasing and decreasing every day due to tax and excise duty.

Ban on IIFL Gold Loans

The Reserve Bank on Monday stopped IIFL Finance from disbursing gold loans with immediate effect. The regulator took this action after serious flaws in the testing and verification of gold purity came to light. This Reserve Bank of India (RBI) notification is only related to the company's gold loan business. IIFL Finance, a leading financial services provider, offers a wide range of loans and mortgages. The RBI said in a statement that the move has been taken after some concerns in lending against gold came to light during regulatory monitoring. However, IIFL Finance may continue to maintain its existing gold loan portfolio through the existing loan collection and recovery process.

Smart Choice Gold Loan will be launched

Kotak Mahindra Bank has recently announced the launch of Smart Choice Gold Loan for its customers. The private bank said in a statement that the loan offers five key features. It may emerge as an attractive alternative to conventional loan options in the near future. Its main features include:

• A fixed monthly interest rate of less than 0.88 percent means 10.56 percent per annum
• Zero processing fee
• Disbursement same day of application
• Flexible payment options
• Minimal documentation