Gold Loan: Lowest Interest Rates & Instant Approval

Gold Loan Interest Rates

The interest rate on a gold loan depends on the lender and the current market value of the gold being used as collateral. Generally, gold loan rates range from 10%-24%, depending on the gold loan provider.

Calculate your Gold Loan EMI

Gold Loan EMI Calculator

Loan Amount is

No. Of Month Is

Rate of Interest [ROI] Is

Loan EMI Calculator

Loan Amount

100000

Monthly EMI

9000

Total Interest

8000

Total Payable Amount

108000

Gold Loan Eligibility Criteria

1. Age of the applicant should be between 18 to 70 years.
2. The applicant should be a salaried individual, self-employed professional, or a businessman.
3. The applicant should provide valid ID proof and address proof.
4. The applicant should have a minimum income of Rs. 15,000 per month for salaried individuals, Rs. 1.5 lakhs per annum for self-employed professionals, and Rs. 1 lakh for businessmen.
5. The applicant should have a good credit score.
6. The applicant should provide collateral security in the form of gold, jewelry, ornaments, etc. of a value equal to or higher than the loan amount.

Documents Required for Gold Loans

Loanlekardekho.com is here to help you to find the best Gold Loans available. We provide you the list of all the banks and NBFCs offering Gold Loan in India and their interest rates. We also provide you detailed information about the Gold Loan process and documents required to avail Gold Loan. You can also compare the Gold Loan interest rates of various banks and NBFCs and choose the best one according to your need.

Identity Proof
A valid photo identity proof like Aadhaar Card, PAN Card, Driving License, Passport, Voter ID Card, etc.
Address Proof
A valid address proof like Aadhaar Card, Passport, Driving License, Voter ID Card, Utility bills, etc.
Gold ornaments
Gold ornaments in the form of coins, bars, or jewelry. The ornaments must be of 18 to 22 carats.
KYC documents
KYC documents like Aadhaar Card, PAN Card, etc.
Photographs
Recent passport-sized photographs of the applicant.

10 FAQs about Gold Loans

1. What is Gold Loan?
Gold Loan is a secured loan that is availed against the pledge of gold jewellery, coins or bars. The loan amount is usually up to 75% of the gold’s market value.
2. How can I avail a Gold Loan?
To avail a Gold Loan, you must visit the nearest branch of the lender with required documents and your gold ornaments.
3. What are the documents required for availing a Gold Loan?
The documents required to avail a Gold Loan include identity and address proof, recent passport-sized photographs and a valid PAN card.
4. What is the maximum loan amount I can avail against gold?
The maximum loan amount you can avail against gold depends on the lender, the type of gold pledged and your creditworthiness. Generally, the loan amount is up to 75% of the gold’s market value.
5. What is the interest rate charged on a Gold Loan?
The interest rate charged on a Gold Loan depends on the lender, the loan amount and the tenure of the loan. The interest rate is usually in the range of 10.5% - 24% per annum.
6. What is the tenure of a Gold Loan?
The tenure of a Gold Loan is usually up to 12 months.
7. Is Gold Loan a safe option?
Yes, Gold Loan is a safe option as the lender holds the gold as collateral and the loan amount is usually less than the value of the gold pledged.
8. Is pre-payment of Gold Loan allowed?
Yes, most lenders allow pre-payment of Gold Loan. However, you may have to pay a pre-payment penalty.
9. What is the process of repayment of Gold Loan?
The repayment of Gold Loan can be done in various ways such as online payment through NEFT/RTGS, debit card, cheque, or cash payment.
10. What happens if I fail to repay the Gold Loan?
If you fail to repay the Gold Loan, the lender will auction the pledged gold to recover the loan amount.

Gold Loan