Article

Procedure: How to Apply for Gold Loan
February 06 , 2013
  1. Gold loan is the easiest way to borrow money for an unexpected need coming up. Since you are offering a liquid asset as security you can go back with a loan in half an hour's time.
  2. Gold loans are a better alternative to personal loan due to significantly lower interest rate.
  1. Gold loan can be availed from banks or NBFCs like Muthoot Finance, Mannapuram and Karvy Finance. Banks charge much lesser interest rate and can lend more for a particular weight of gold. Banks can lend up to 70%-85% of the value of gold while NBFCs can lend up to 60%. However banks may have lower maximum limit for amount of loan.
  2. Along with your gold ornaments carry photographs and documents for identity proof and address proof. Gold will be weighed and checked for purity. Valuation is easier in case of hallmarked jewellery.
  3. Loan amount depends upon weight of gold and market price of gold. The repayment tenure varies from 3 months to 12 months. You would have the flexibility to choose. There is heavy penalty for defaulting on EMIs.

Fintotal Knowledge the best place to learn more on personal finance.

The language is simplified and written specially for non finance background individuals.


Explore more in a easy manner.

Table of Contents

Table of Contents

  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed
  • No Article Listed

Get the all financial products under one roof only at

you will NEVER GO WRONG with us!

Unbiased . Best Deals . Appropriate Products . No Mis-selling