V and K images of NGC 6304 and NGC 6316 are used to investigate the properties of giants and horizontal branch stars in these metal-rich clusters. We confirm previous reddening estimates for NGC 6304, which indicate that E(B - V) approximately 0.5; however, for NGC 6316, our data indicate that E(B - V) approximately 0.6, higher than most previous values. In order to assess the relative metallicities of NGC 6304 and NGC 6316 we define the quantity DELTA(V - K), which measures the slope of the upper giant branch. The results suggest that NGC 6304 and NGC 6316 have similar metallicities, and are slightly more metal-rich than 47 Tuc. a conclusion consistent with previous metallicity estimates. The ratio of horizontal branch stars to bright first-ascent giants, R, in NGC 6304 and NGC 6316 are also similar, suggesting that the helium abundances of these clusters are not different. However, the computed values of R are lower than in 47 Tuc, and various morphological properties of the horizontal branches in NGC 6304, NGC 6316, and 47 Tuc are examined to investigate further the relative helium abundances of these clusters. The brightness widths of the horizontal branches in NGC 6304 and NGC 6316 are comparable to what is seen in 47 Tuc, while the color widths are narrower. The latter is consistent with a difference in helium abundance, while the former is not. Finally, although the integrated spectroscopic properties of NGC 6304 and NGC 6316 show systematic differences, there is as yet no photometric evidence to support a difference in mean age between these two clusters.