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Gold Loan - Overview

Gold loan is a form of secured loan offered against gold jewellery. It is one of the easiest ways to meet a financial emergency, as gold loan eligibility criteria are very relaxed. You can get gold loan by just submitting your gold jewellery and copies of KYC documents with the lender. Some banks do not even ask for proof of income. Gold loan proceeds can be used to meet any financial emergency, which includes, agricultural expenses, educational expenses and so on. More details on Gold Loan Eligibility are given below.

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Gold Loan - Features & Benefits

Some of the main benefits of availing a gold loan are mentioned below:

  • Loans can be availed at low interest rates since collateral is being provided.
  • Apart from gold jewellery, no other security or collateral will need to be provided.
  • The funds can be used for various purposes unlike a car loan or home loan.
  • Minimal documents will need to be submitted.
  • Your credit history need not be good to avail the loan.


  • The loan may be provided within ten minutes.
  • The documentation process is simple and most lenders will only request for address proof and identity proof.
  • You can pay only the interest part initially and pay the principal amount when the loan matures.
  • Your credit history need not be good to opt for a gold loan.

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Gold Loan - Eligiblity

Minimum and Maximum Age

21 Yrs – 60 Yrs
Note: However, many banks require a minimum age of 23 years

Loan Amount

Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh
Interest rates are lower for a higher loan amount

Employment Type

Salaried and self-employed both are eligible
Businessmen are increasingly taking gold loans to meet their working capital requirements.
In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans.

Quality of Gold

Gold ornaments should range in between 18 to 24 Carats
An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22


Banks do not check CIBIL score for granting a gold loan
However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score

Gold ornaments that can be used for availing loan

Gold bars and coins
Gold with 18-24 carat purity

Employment track record and income proofs

Banks do not check your job stability or business stability to sanction you a gold loan. Gold loans are granted without income proofs. You only need to submit your basic KYC documents such as address proof, identity proof, and an Aadhaar card to avail of this loan.

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Gold Loan - Required Documents

Identity ProofPassport, PAN Card, Aadhaar Card, Voter’s ID Card, Driving Licence, Photo Credit Card, Central and State Govt. issued Photo ID Proof, Defence ID Card, etc.
Residence ProofAadhaar Card, Ration Card, Passport, Bank Account Statement, Voter’s ID Card, Letter from any recognized public authority, Telephone Bill, Electricity Bill, Water Bill (not more than 3 months old), etc.
Income ProofSalary Slips (not more than 3 months old), Bank Statements (not more than 3 months old), ITR, Form-16, etc.

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Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Gold loan (also called loan against gold) is a secured loan taken by the borrower from a lender by pledging their gold articles (within a range of 18-24 carats) as collateral. The loan amount provided is a certain percentage of the gold, typically upto 80%, based on the current market value and quality of gold.

For a gold loan, applicants should be aged above 18 years and should have gold that needs to be mortgaged with the bank.

The interest rate on your gold loan varies from one lender to another. Please enter your details on our Gold Loan eligibility page and view gold loan offers offered by various banks and private institutions.

The loan approval process for gold loan is very fast. If your application meets all the requirements, it takes just an hour for the loan amount to be disbursed.

The loan can be repaid by choosing any medium of money transfer as you desire, such as Cash, Cheque, Demand Draft or Online Fund Transfer.

Documents required for approval of your gold loan are:

  • Id proof, such as your Driving License, Pan Card, Form 60/61, Passport, and Voter ID card.
  • Address proof, such as House Registration Documents, and Utility Bills

A gold loan can be repaid partially at any point in time. However, your deposited gold will only be returned once the entire loan amount has been repaid.

Banks take a lot of precaution while storing your gold and keep it safe until the loan amount is returned. They understand the sentimental value attached to gold ornaments and act as custodians while the gold remains with them.

  • The processing of a gold loan is faster than any other loan because there is a minimum documentation requirement as it is secured in nature.
  • Just like a personal loan there is flexibility for you to use the loan to meet any type of expenses.
  • It is ideal to generate easy cash but it is difficult to sell gold especially physical gold hence gold loans are preferred over selling physical gold as it is and it is the perfect solution to raise money.

Gold loans are available through different lenders and the amount can be generally between Rs 1000 to 1.5,00,00,000. It may change from each lender. As per the guidelines of each financial institution, some loan requests for more than Rs 1.5,00,00,000 might require management approval.

How To Apply

  • 1. Visit our website at www.loanmani.com
  • 2. Select your Gold Loan
  • 3. Submit your application
  • 4. Provide the necessary documents and information as requested.
  • 5. Wait for our quick approval process to confirm your loan.
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