The
loan to value ratio (LTV) is maximum 75% of the gold’s current market
value. The gold loan amount will depend on the LTV,
gold’s weight, and its purity. Contents in the jewellery apart from gold
will not be considered to calculate the loan amount.
The
loan amount offered by financial institutions is between Rs. 1 lakh to Rs.
1 crore.
Loan
disbursal is done the same-day of the loan approval. You can get the funds
in as less as just 45 minutes. Thus, it is an ideal option if you want
instant cash.
Low
interest rate starting from 10.50% up to 13.50%. There are special gold
loan schemes for women, agriculturists, small businesses at reduced
interest rates.
Gold
loan tenure is between 6 months and 2 years.
No
credit score check is not mandatory but having a credit score of 600+
helps.
Minimal
documentation involved: Identity proof, address proof, and recent
passport-sized photographs. No need to submit bank statements, salary
slips, and IT return proof.
Type of Loan on Gold :-
Gold Loan for Women
Agriculture Gold
Loan
Personal Gold Loan
MSME Gold Loan
Gold Loan Overdraft
Term Loan on
Gold
Documents
Required to Apply for Gold Loan
Two passport size photographs.
A copy of identity proof document (any of the following): Ration
card, driving license, Aadhar Card, Passport, etc.
A copy of address proof documents (any of the following): Utility bill,
telephone bill, or electricity bill, etc.