Want a Low-Interest Gold Loan for Large Expenses?

Probably the easiest-to-get secured loan, a gold loan can solve many large expense problems

You can use it for any reason – personal or business. You get lower interest rates than personal loans

Gold Loans

The Easiest Secured Loans You Can Get for All Types of Financial Needs

Gold Loans

A gold loan is given against the gold you pledge with the bank or financial institution. This gold usually has to be of 22 carats or more and can be gold ornaments or jewellery, gold coins or bullion and even Gold ETFs. It is a secured loan and as such presents a reduced risk for lending institutions. This lesser risk is reflected in the lower interest rates these loans have in comparison to personal loans.

The loan can be used for any personal and even business expense. The loans are usually given as a lump sum amount. However, some lending institutions also offer it as a line of credit. Here you pay interest on the amount you use. The corpus of the loan or line of credit is usually 60%-80% of the value of your gold.

These loans have also become popular for a few reasons. Firstly, considering the fact that households in India usually have some gold in the form of jewellery, banks and financial institutions have aggressively pushed these loans. Secondly, as the economy has grown and consumerism has risen over the last two decades, people have used these loans to meet larger expenses at a lesser cost. That they are usually much easier to get is another factor that has driven the growth.

Gold Loan – General Details

Amount: The amount of gold loan depends directly on the value of your gold. Usually it is in the range of 60%-80% of the value of the gold. The gold usually has to be of 22 carats though some lenders do consider 18 carat gold also. The collateral has to be deposited with the bank or lending institution before the funds are released.

Interest Rate: The average interest rates are usually around 8%-18% for an applicant with a good credit score though it is higher for people with lower credit scores due to their riskier credit profile.

Tenure: These loans are usually available for 3 months to 3 years. Longer tenures are not available primarily because of the inherent complexity in collateral valuation and risk management due to gold price fluctuations over longer periods.

Age: The borrower must be over 18 years. There is usually no upper age limit and even pensioners can apply for this loan.

Minimum Income Requirement: Banks and financial institutions usually do not provide a minimum income requirement though it is likely they will check whether the applicant has enough balance in their accounts to cover their EMIs.

Maximum Loan Allowable: The maximum loan differs from bank to bank. Most lending institutions have an upper limit of around Rs 25-30 lakh, though you will also find loans of up to Rs 50 lakh from certain banks.

Work Tenure Eligibility Criteria: There is usually no minimum work criteria for these loans.

Documents Needed: Copies of the following documents are usually needed for gold loans applications

  • Passport Size Colour Photo
  • PAN Card
  • Aadhaar Card
  • Driving License or Voter ID Card
  • Bank Statement for 3-6 Months
  • Salary Slips for Last 3 Months

Apply for a Gold Loan

Paperless Gold Loans Online

You can apply for gold loans online through a paperless application on our website. You will have to submit the documents we have mentioned above. After you have applied, we check and forward your application to the bank.

Once the bank or financial institution gives approval, you will have to visit the branch near you that is authorised to keep your gold. The bank will inform you of the same after you get approval. Once you have completed the minimal paperwork and got the receipt for your gold from the bank, you will receive the funds in your account.

We are very strict in choosing the banks and FIs we work with. Since your gold should be safe at all times, we only trust the best banks with our gold loan applications.

You may apply for gold loans through the completely online form on our website from the comfort of your home or office. For the documents, all we need are soft copies. You only need to visit the branch to deposit the gold once you have gotten approval for your application.

Paperless Gold Loans – Additional Criteria for Loan Approval

Since you can apply for these loans completely online and get approval, certain other requirements have to be met:

  • How Salary Credited: You should receive your salary directly in your savings or salary account via online transfer and not by cheque or cash
  • Net Banking Mandatory: Your should have your internet banking facility active for that account

Apply for a Gold Loan

Public Sector Banks (Nationalised Banks)

Union Bank of India

Union Bank of India


Private Sector Banks

City Union Bank

City Union Bank

Dhanlaxmi Bank

Dhanlaxmi Bank

IDBI Bank

IDBI Bank

IDFC First Bank

IDFC First Bank

Nainital Bank

Nainital Bank

RBL Bank

RBL Bank


Small Finance Banks

North East Small Finance Bank

North East Small Finance Bank

Suryoday Small Finance Bank

Suryoday Small Finance Bank

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank