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Gold loan eligibility criteria
Age
Applicants should be 18 years or older.
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Ownership Requirement
The gold to be pledged must be in the possession of the borrower.
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Quality Standard
The gold must meet the lender's purity criteria.
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Identification
A valid government-issued ID is required for identity verification


Documents Required for the Gold Loan
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Passport ( not expired)
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Identity and signature proof
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Employee Identity card (in case of government employees)
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Address proof
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Proof of ownership Gold
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Rent agreement
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Two post- dated cheques for security purposes
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Driving license ( not expired)
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Voters ID card
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Aadhar card
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Pan Card ( along with any of above mentioned documents) or form 60egr
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One passport size photograph
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NREGA job card
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Letter issued by National Population Registration
Features and Benefits of our Gold Loan
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Quick processing and disbursal
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No income proof required
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Flexible repayment options
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Loan against various gold items
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Gold loan tax benefits
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Minimal paperwork
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No credit score
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Immediate capital
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No external collateral
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No end-use restriction
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Online process
How it works
Application:
Apply online or visit a branch.
Approval:
Loan approval is provided.
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Documentation:
Submit the necessary documents.
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Disbursal:
The loan amount is credited to your account.
Terms and conditions of the loan
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Gold Quality Assessment:
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The loan amount is contingent on the purity and quality of the gold submitted as collateral.
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The bank will conduct a detailed assessment of the gold's karat and weight.
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Loan-to-Value (LTV) Ratio Determination:
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The LTV ratio is calculated based on the appraised value of the gold.
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The maximum loan amount is a percentage of the gold's appraised value.
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Gold Storage Requirements:
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The bank may provide secure storage for the pledged gold during the loan tenure.
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Storage fees, if applicable, will be communicated in the loan agreement.
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Insurance Coverage:
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The borrower may be required to obtain insurance coverage for the pledged gold.
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The insurance premium and terms will be specified in the loan agreement.
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Loan Renewal Options:
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Conditions, if any, for renewing or extending the gold loan beyond the initial tenure.
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Renewal fees and procedures will be outlined in the loan agreement.
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Partial Repayment Conditions:
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The borrower may have the option for partial repayment of the loan before the maturity date.
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Conditions for partial repayment, including any associated charges, will be specified.
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Loan Closure Procedure:
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The process for closing the gold loan, including repayment of the principal and interest.
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Conditions for the release of the pledged gold upon loan closure.
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Late Payment Penalties:
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Penalties and interest rates for delayed payments will be clearly outlined.
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Timely repayment is crucial to maintaining favorable loan terms.
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Grace Period for Repayment:
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Conditions, if any, for a grace period in case of delayed repayment.
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The duration and terms of the grace period will be specified in the loan agreement.
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Change in Gold Prices:
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The loan agreement may include provisions for adjusting the loan amount or terms in response to significant changes in gold prices.
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Gold Appraisal Costs:
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The borrower may be responsible for the costs associated with the appraisal of the pledged gold.
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These costs will be communicated upfront.
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Renewable Gold Storage:
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Conditions for the renewable storage of gold with the bank beyond the loan tenure.
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Any associated fees for continued storage will be outlined.
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Default and Consequences:
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Consequences of default, including the potential auction or sale of the pledged gold.
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The process and conditions for default resolution will be clearly outlined.
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Notice Period for Closure:
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The borrower may be required to provide advance notice before closing the gold loan.
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Notice period conditions will be specified in the loan agreement.
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It's essential for borrowers to thoroughly review and understand all terms and conditions associated with a gold loan, seeking clarification from the lender if needed. This ensures compliance and informed decision-making throughout the loan period.