Apply for Gold Loan starting @ 10.5%

Apply for Gold Loan

Apply online for Loan Against Gold with us at Lowest Interest Rates

  • Loan available against Gold Jewelry Ornaments
  • Loan Amount: Rs. 50 Thousand - 50 Lakhs
  • Interest Rate: 10.50% - 13.50%
  • Loan Tenure: 6 Months to 2 Years
  • Free Security for your Gold Ornaments
  • One Page Documentation

What is a Gold Loan?

Gold loan or loan against gold is a type of secured loan, where the gold jewellery is kept as collateral with the bank/NBFC (Non Banking Financial Company) from which the loan is taken. Loan against gold can be approved the same day of loan application and fulfils any emergency need of cash. Different types of gold assets are accepted for offering the loan. These assets could be gold coins, jewelleries or other gold accessories. The collateral is released to the borrower, once he/she repays the loan in complete, with the interest and principal amount. Loanbaba gold loan features short processing time, medium term tenure, and a low interest rate.

Why Choose a Gold Loan?

If you are looking for instant liquidity of cash, then a loan against gold is the best option. Approval of the loan does not depend on your income or credit history, but based on the purity and value of gold, which is checked by the bank/NBFC before processing the loan. The amount of loan on gold depends on the gold value surrendered to the lending institute.

  • Loan against gold tenure is flexible and of medium term, which helps you to repay faster
  • The low interest rate makes the outstanding repayment amount, easier to manage
  • In most of the cases, no pre-payment penalty is charged
  • Quick disbursal in as less as few minutes to a few hours, is possible
  • Minimal documentation needed and essentials such as IT return, bank statements, salary slips etc may not be mandatory

Points to Consider Before Applying for a Loan against Gold

You can apply gold loan online at, but before applying, consider the following points:

  • Only specific types of gold coins and jewelleries are accepted as collateral for the loan.
  • Financial institutes can offer up to 75% of the gold value. The amount of loan is decided after checking the purity and quality of this precious metal and confirming its current market price.
  • Loan amount ranges between Rs. 50 thousand and Rs. 50 lakhs
  • Loan tenure ranges between 6 months and 2 years
  • Interest rate varies between 11.00% and 13.50%, but is subjected to change
  • The banks/NBFCs offering loan on gold provide free security for your gold ornaments
  • If the ornaments contain other precious materials or stones, then the value of the jewelleries are based only on the weight of the gold present.

Features and Benefits of Gold Loan Online

Below listed are benefits and features of loan against gold in India.

  • You get the option of paying only the interest component through the loan tenure. The principle amount can be repaid in lump sum amount after the loan tenure comes to an end.
  • There are no unsecured gold loans, which means the gold loan is a secured one, and faster to get approval for, even if you have a decent credit/CIBIL score and repayment capacity.
  • Special loan against gold schemes are available for agriculturists at a reduced interest rate, as low as 8 percent.
  • The speedy loan disbursal allows you to get cash on gold the same day of the loan approval.
  • Documentation is minimal, and mainly only your address proof and personal ID required.

Categories and Types of Gold Loans in India

Type of Gold Loan

Gold Loan Features

1) Gold Loan for Women

This loan scheme is specially designed for women.

Lower interest rates are charged than standard gold loan schemes.

Both self-employed and salaried women can apply for this loan.

2) Agriculture Gold Loan

Loan on gold is granted to farmers for meeting the temporary need of funds for farming and agriculture purposes.

Tenure of the loan is up to 2 years.

Maximum amount to be borrowed is up to 5 lakhs or more as per the financial institute terms and conditions.

3) Personal Gold Loan

Loan available for meeting any financial need. Not much of paperwork is involved.

Same day disbursal of loan possible and this loan can be taken by anyone above 18 years of age, who can repay within 2 years.

Interest rate is below 13% to 14%.

4) MSME Gold Loan

Unlike other gold loans, MSME gold loan is meant to fulfil financial needs of small and medium sized enterprises.

These loans are targeted mainly for rural borrowers, but can be extended to small enterprises in towns as well.

Loan amount will purely depend on the collateral gold submitted and its current market value.

5) Gold Overdraft Loan

The borrowers can encash on the gold jewellery that is already invested with the bank. The same can be pledged with the particular bank to avail the loan.

Facility to draw with ATM card is permitted but optional. The customer must have at least one gold overdraft account with the financial institute.

The tenure of the loan can be renewed, but is 2 years at the most for a particular time period.

6) Term Loan on Gold

Term loan against gold is like any gold loan, with a difference of special offers based on the tenure of the loan chosen.

Some banks and NBFC offer discounted interest rate for loan on gold taken for a shorter tenure.

The amount of loan may also depend on the tenure chosen.

Eligibility Criteria for Gold Online Loans

Below listed are the eligibility criteria for online gold loan apply with

  • Anyone can apply for loan against gold as long as the individual seeking the loan is the one who owns the ornaments.
  • The approval of such loans online is decided by the value of the gold you submit.
  • To apply for a gold loan, you must be more than 18 years of age

Documents Required to Apply for Gold Loan

Do you want gold loan urgent? Well, if you have some basic personal identification documents, then you can get quick approval and disbursal for loan on gold.

  • A copy of identity proof document, such as driving license, Aadhar Card, Ration Card, Passport, etc.
  • Two passport size photographs
  • A copy of address proof documents such as telephone bill, electricity bill, or other utility bills, etc.

Gold Loan Interest Rates in India

Interest rate varies between 11.00% and 13.50%, but is subjected to change. As such loans are not collateral free gold loans; it means the ornaments against which you seek the gold will be kept securely with the bank/NBFC until loan repayment. Secured loans cost lesser as the rates of interest are lower than that of unsecured loans. The interest rate of gold loan varies based on the gold loan amount and its tenure.

Checklist to Apply for Loan on Gold

Here is a complete checklist to go through before you apply online for gold loan.

  • Such loans are meant for urgent monetary need and range for a tenure of up to 2 years only. Only choose this funding method, if you are sure about quick repayment in this period.
  • Loan on gold rates vary from one lender to other. You can compare the best available options at our website.
  • Your credit score does not matter much for this loan, however, it is better to know your CIBIL score for free at loanbaba, in case a lender wishes to check on your credit score.
  • The price determination of the ornaments will depend on current market gold prices only.
  • In case you default at repayments, the financial institute that provided the funds has the authority of confiscate the collateral gold.
  • Repayment of loan against gold will impact your credit score; thus, make sure you repay in time to build a good CIBIL score.

Top Providers for Gold Loan India

Many banks (both private and public sector) and NBFCs offer loan against gold to individuals in India. Some of the key players for which you can compare gold loans are: Manappuram Finance, Muthoot Finance, Bajaj Finserv, HDFC, SBI (State Bank of India), ICICI Bank, Allahabad Bank, Axis Bank, etc. If you want gold loan from these providers or any other, you can check and compare loan against gold on

Gold Loan EMI Calculator

EMI or equated monthly instalment is the amount to be paid every month as repayment for the loan taken. EMI constitutes of interest component and the principle amount borrowed. You can access Gold Loan EMI calculator at our website and check the EMI amount to be paid.

However, when it concerns gold loan, you need to pay only the interest amount until the end of loan tenure. After the tenure ends, you have to repay the entire principal amount. The bank/NBFC would then release the gold ornaments to you.

Why Choose to Help You Find Gold Loan? is a portal which offers unbiased comparison for loan against gold over several banks and NBFCs. We give you free facilities such as gold loan eligibility calculator and gold loan EMI calculator. Following are some more features, which will convince you as to why choose us to help you find suitable gold loan schemes in India.

  • You can grab quick quotes from financial institutions offering loan on gold, within just a few seconds.
  • You need not visit any bank or NBFC for gold loan application as we offer you the option to apply for gold loan online. It takes less than 2 minutes to apply on our website.
  • You can compare gold loan offers, select and apply, and even get loan disbursed the very day the loan is approved.
  • Based on your requirements, we provide you the best gold loan online schemes.
Gold Loans Interest Rates of Top Banks/NBFC
Bank Loan Amount Personal Loan Interest Rates* Lowest EMI per lakh for Max Tenure

State Bank of India Gold Loan

Rs. 20 Lakhs Max 11.05% Rs. 4,663 for 24 months

HDFC Bank Gold Loan

Rs. 50 Lakhs Max 11.00% - 14.50% Rs. 4,661 for 24 months

ICICI Bank Gold Loan

Rs. 15 Lakhs Max 10.00% - 16.50% Rs. 4,614 for 24 months

Axis Bank Gold Loan

Rs. 20 Lakhs Max 14.50% - 17.00% Rs. 4,825 for 24 months

Andhra Bank Gold Loan

Rs. 2 Crore Max 9.70% - 10.45% Rs. 4,601 for 24 months

Punjab National Bank Gold Loan

Rs. 10 Lakhs Max 10.75% - 11.75% Rs. 4,649 for 24 months

Yes Bank Gold Loan

Rs. 20 Lakhs Max 11.00% - 14.50% Rs. 4,661 for 24 months

Manappuram Gold Loan

Rs. 1 Crore Max 14.00% - 26.00% Rs. 4,801 for 24 months

Muthoot Finance Gold Loan

Rs. 1 Crore Max 12.00% - 24.00% Rs. 4,707 for 24 months

Canara Bank Gold Loan

Rs. 10 Lakhs Max 12.65% Rs. 4,738 for 24 months
Frequently Asked Questions about Gold Loans in India
  • add1. Why do I need Gold loan?

    Gold is an easy way of unlocking cash during an urgent financial need. If you own gold, then you can utilize it to receive emergency funds the same day you apply for the loan and its approval.

    • Loan amount can be used for any purpose. Many take gold loan to fund travel trips, medical treatment, home repair, education, vehicle purchase, shopping essentials, etc.
    • The added advantage is the low interest rate compared to unsecured loans. Being a secured loan, a loan against gold is pocket-friendly.
    • It has maximum tenure up to 2 years, which means you can repay quickly and get done with repayment faster than many other types of loans.
    • Also, you just have to pay the interest amount through the tenure and the remaining principal amount borrower only at the end of the tenure. Thus, if you are low on finances, you can manage repayments for gold loan quite comfortably.
  • add2. How can I apply for Gold loan?

    You can apply for gold loan online at, after comparing the bank/NBFC offers on interest rate, loan amount, tenure and other details.

    • You can check your loan eligibility and EMI for free at the website.
    • The online application can be completed within less than 2 minutes.
    • No hardcopy of documents needed, the application process is paperless.
    • After verification of documents and the gold purity and weight, the loan is disbursed immediately.
  • add3. What will the bank do if the gold prices fall during the tenure of gold loan?

    If the price of gold drops over a month then the bank or NBFC asks you to make part-payment for the loan. Gold is approved up to 75 percent of the current gold price that you pledge. The loan to value (LTV) will depend on the purity of gold. LTV is derived from a running average of the gold price for a month or till 3 months. LTV may differ by some amount depending on the calculation system followed by the bank or NBFC. In case the gold price drops, the lending institute drops the LTV for loan against gold.

  • add4. What kind of jewellery will avail the best gold loan rate or best gold loan per gram?

    All forms of gold jewellery will get you suitable rates on gold loan. Jewellery can be necklaces, bangles, anklets, rings etc. If the gold ornaments contain valuable gems, the loan amount will only depend on the valuation cost of the gold in the ornament and not the gems.

  • add5. When will the gold ornaments submitted as collateral be returned to me?

    You will receive the gold kept as security, within few days of completely repaying the loan's interest and principal amount. Until then, the gold ornaments will be kept securely with the financial institute.

Gold Loan EMI Calculator

Gold Loan Eligibility Calculator

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