It is extremely convenient to apply for gold loans and the entire process can be done in quick time. Gold Loan is offered by a number of banks and financial institutions with affordable interest rates.

1. Gold Loan

2. Introduction to Gold Loan
• It is evident from the name that a gold loan is offered against
gold.
• They are offered by a number of banks and financial
institutions.
• The rates of interest offered on these loans are comparatively
low.
• It is extremely convenient to apply for gold
loans and the entire process can be done
in quick time.

3. Benefits of Gold Loans
• No certification of income required
• Credit score is not considered
• Few documents
• Low rates of interest
• Easy process
• Convenient application process
• Quick procedure

4. Gold Loan V/S Other Loans
• Gold Loans are secured as the gold is deposited in the bank in
exchange for funds.
• The tenure of these loans is generally short, unlike personal
loans, which can be for a longer period of time.
• The amount of the loan is directly dependant on the value of
gold deposited and does not consider the persons capacity to
repay the same.
• The rate of interest ranges from 12-16% while personal loans
range from 15-26%.

5. Gold Loan Eligibility Criteria
The following are the documents that are required in order to
apply for a loan:
• Identity proof like a drivers licence or passport
• Address proof in the form of ration card,
electricity bill, telephone bill etc.
• Signature proof
• i.e. copy of licence or passport
• 2 passport size photographs

6. Gold Loan Interest Rate
• The interest rates offered on gold loans are extremely
affordable.
• This is one of the major reasons why people chose these
loans.
• Depending on the bank or financial institution selected, the
rates of interest can range from 12-16%.
• If a regular loan was taken for the same purpose, the rates
could be as high as 26% per annum.

7. Gold Loan Provider in India
• SBI Gold loan
• Magma Gold loan
• Union Gold Loan
• Mannapuram Finance Gold loan
• Muthoot Finance Gold Loan
Click here for instant gold loan