What is a Gold Loan ?
A **gold loan** is a secured loan offered by financial institutions where a borrower pledges their gold ornaments or coins as collateral. The loan amount is determined by the market value and purity of the gold. This type of loan is a popular choice for individuals seeking quick and easy access to funds without a lengthy application process.
The key advantage of a gold loan is its **speed of disbursal**. Since the loan is backed by a physical asset (gold), lenders can approve and disburse the funds very quickly, often within a few hours. The loan tenure is typically short-term, ranging from a few months to a maximum of three years, and interest rates are generally lower compared to unsecured personal loans.
Calculate Your Gold Loan EMI
Loan Details
(Based on 24 Carat Purity)
Loan Summary
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Monthly EMI
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Total Interest
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Total Payment
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Loan Repayment Breakdown
See the split between your principal and interest payments.
Principal Amount
Total Interest
Benefits of a Gold Loan
Quick Approval
Get instant funds without a credit check, as the loan is secured by your gold.
Safe and Secure
Your gold is stored safely in the lender's vault and returned to you after repayment.
Lower Interest Rates
As a secured loan, the interest rates are typically lower than those for unsecured loans.
Flexible Repayment
Choose a repayment plan that suits your needs, including paying interest only or making a lump sum payment.
Eligibility & Documents
Applicant's Age
Applicant must be between 18 to 70 years of age and a resident of India.
Gold Ornaments
The gold must be in the form of jewelry or coins with a purity of 18 to 24 carats.
KYC Documents
Standard KYC documents like Aadhaar Card, PAN Card, and address proof are required.
No Income Proof
Most gold loans do not require proof of income, making them accessible to a wider audience.
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