Gold Loan

Gold loan is offered to meet urgent cash requirements by submitting gold, gold ornaments/jewellery/coins as collateral or security with the bank or lender. The bank charges interest on the borrowed amount and once the loan is repaid in full, the gold items kept as collateral are returned back safely. Lenders usually offer gold loans at interest rates starting from 8.75% p.a. onwards.

Eligibility Criteria

Nationality : Indian
Age : 21 to 70 years
Gold Purity : 18-22 karat

Documents Required

Banks generally ask for the following documents. If there is any other requirement, the bank will share the same at the time of application.

Duly filled Application Form with 2 passport-sized photographs
KYC Documents of applicant: Passport, Voter’s ID card, Aadhar card, Driving License, PAN card, Utility Bills (Water & Electricity)
Last 12 months’ bank statement
Any other document required by the lender

Gold Loan Offered By Different Bank

Gold Loan Offered By Different Bank
Bank of India	8.80% p.a. onwards
Canara Bank	9.25% p.a.
Punjab National Bank	9.25% p.a. onwards
IIFL Finance	11.88%-27% p.a.
Rupeek	8.88% p.a. onwards
ICICI Bank	10% p.a.
Axis Bank	17%-19% p.a.
India Gold	0.77% per month
State Bank of India	8.75% p.a. onwards
Bajaj Finserv	9.50% – 28% p.a.