Gold Loans

India is one of the largest consumers of gold in the world. As per the World Gold Council (WGC), the annual gold demand in India from 1987 until 2016 has increased by 804%. And the trend does not seem to die anytime soon. The precious metal other than being used for industrial, commercial and investment purposes can also be used to get a loan at the time of a financial emergency. In fact, the gold loan is one of the easiest and fastest ways to access funds when it matters the most.
Even if you have a low credit score but ample amounts of idle gold in your locker, the gold loan can be the monetary solution for you. With the growing popularity of gold loan every year, it is important to know not only what gold loan is but also how it works, gold loan interest rates, and other related details.


1. Lower Interest Rate on Gold Loans: In general, interest rates on these loans are lower than on personal loans since this is a relatively low-risk loan for lenders as they hold your gold as collateral.

2. Quick Process: In India, gold loans are some of the quickest loans to be sanctioned, removing the need for checks on credit scores or reports. The loan can be approved, over the counter, in a matter of minutes or just a few hours.

3. No Income Proof Required: In many cases, you are not even required to submit a salary certificate since your gold is held as security by the lender. So, even if you are currently unemployed or do not have a good credit score, you will still be eligible for this kind of loan.


Anyone who has gold can get a gold loan. Unlike personal loans, which include stringent eligibility criteria, gold loans can be availed by any Indian resident, which can include salaried professionals, businessmen, housewives, and even farmers. You don’t even need to have a good credit score to be eligible for a gold loan. So if you have a low credit score, you still have a chance to get funds, provided you have enough gold to pledge for it.

Required Documents:

Documents should be Self-Attested.

  • 1. AADHAR Card.
  • 2. PAN Card.
  • 3. Voter ID.
  • 4. Driving License.