Echonomical interest rates
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.
Some of the main benefits of availing a gold loan are mentioned below:
Minimum and Maximum Age
21 Yrs – 60 Yrs
Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh
Salaried and self-employed both are eligible
Quality of Gold
Gold ornaments should range in between 18 to 24 Carats
Banks do not check CIBIL score for granting a gold loan
Gold ornaments that can be used for availing loan
Gold bars and coins
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.
|Passport, 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.
|Aadhaar 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.
|Salary Slips (not more than 3 months old), Bank Statements (not more than 3 months old), ITR, Form-16, etc.
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:
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.
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.
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Apply For ₹50000 to ₹4000000
(Minimum loan amount ₹5L)