Gold Loan

Gold Loan has the following benefits:

  • Allows you to utilize your jewel holdings in times of urgent expense requirements and emergencies
  • Low interest cost compared to personal loans
  • Easy loans with no income proofs and no CIBIL checks required.
  • Also allows first time borrowers and borrowers with bad credit to get loans.
  • Helps improve CIBIL score, as timely repayment is recorded in your CIBIL reports
  • Instant loans with turnaround time of few hours to 1-2 days
  • Loan amounts of up to Rs 50 lakh also available
  • No end use restrictions. The loan can be taken for any personal or business expenses
  • No proof in the form of invoice or purchase bill of the jewelry required

You can apply for a loan against gold online through any of the marketplaces. You query will be referred to the best banks for gold loans after which:

  • You will be contacted by bank representatives who will explain the process, documents required and also schedule a convenient appointment for you to visit their nearest branch.
  • Once your appointment is scheduled, you need to visit the branch with your jewelry. Your jewelry will be tested and valued by appointed valuers at the bank. If the jewelry passes the test and is in line with the specifications mentioned by you will applying, you will get the loan required. If the jewelry is found to be of lower purity or lower weight, you may be offered a lower loan amount.
  • Also, remember that even if one piece of jewelry is fake, the bank may refuse to offer any loan to you.
  • Once the jewelry is valued and loan amount is agreed and sanctioned, the bank will seal your jewelry in a packet in your presence and under CCTV recording. These packets are multi-layered to ensure complete safety of your ornaments.
  • The jewels are than kept in bank safes in strong rooms maintained by the banks.
  • The bank will simultaneously issue you a disbursement letter with loan amount and other details which have to be signed by you and the bank's representative.

Checklist for Gold Loan

  • Identity proof
  • Residence address and ownership proof
  • Photo identity proof
  • Passport size photograph

Documents Required

Identity Proof

PAN Card/ Aadhaar Card/ Voter’s ID Card/ Passport Copy

Address Proof

Rent agreement/ Passport/ Driving License/ Utility Bills/ Aadhaar Card/ Voter’s ID Card




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