✔️What is a gold loan?

A gold loan, sometimes called a jewellery loan, is a secured form of loan where you can pledge your gold jewellery in the form of collateral in exchange for an amount that is determined by the current market value of your gold.

✔️Who can avail a gold loan?

If you are a salaried or self-employed individual between 21 and 70 years and an Indian citizen, you can apply for a gold loan.

✔️Is a gold loan safe?

Yes, it is safe to avail a gold loan, as the lender stores your assets safely in vaults. However, if you default on the repayments, your assets may be auctioned by the lender.

✔️Is my gold secured if I avail a gold loan?

Gold loans are secured loans. They are offered against the gold that you pledge as collateral. You can borrow money against gold jewellery, coins etc. Once you repay the loan, the lender will return the gold.

✔️Is it possible to get a gold loan on jewellery?

Yes, you can get a gold loan on jewellery.

✔️What is the gold loan offered per gram?

A gold loan offered per gram is determined by the total weight of the gold, its purity, and a 30-day average price of the gold on a carat value basis.

✔️What are the consequences if I cannot repay the amount taken as a gold loan?

In most cases, the lender will charge an overdue fee over the gold loan amount. However, if you cannot repay the amount, the lender will auction the collateral you have pledged.

✔️Is a guarantor necessary for a gold loan?

No, a guarantor is not necessary for authorising a gold loan.

✔️Can I foreclose or prepay my gold loan?

Yes, you can prepay or foreclose your gold loan at no extra cost. In addition, you can repay the entire amount or a part of your loan in advance without incurring any penalty charges. This helps you save money and reduce your financial burden.

✔️When should you apply for a gold loan?

You must apply for a gold loan when you require urgent funds to meet your financial requirements. Moreover, you can get up to 75% of the current market value of your gold as a loan, making it an ideal choice for those who need quick cash.

Apply Gold Loan Online | Apply for a Loan Against Gold in India

✓ No Limit on Loan Amounts ✓ Interest Rate Starting @ 8.28% p.a. ✓ Minimal Documentation

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Overview
Eligibility Criteria
Interest Rates

Gold holds a great deal of value in Indian households. More than just a symbol of prestige, gold is also an excellent source of capital. This is because you can pledge as collateral and avail a gold loan from leading lenders on Bajaj Markets.

In fact, by pledging your gold jewellery as collateral, you can get a loan of up to 75% of the current market value of your gold. This amount can help you address many big-ticket expenses with ease. Read on to know more about availing a loan against gold.

Loan Against Gold

Taking a gold loan is easier as you can apply for a gold loan online. So, if you have idle gold and are in need of funds, avail a loan against gold to get the financial help you need.

Here are some important details you must know before you apply for a gold or a jewel loan. The table shows the gold loan interest rates, tenure and the maximum amount you can avail on Bajaj Markets:

Rate of Interest	8.28% - 28% p.a.
Amount of the Loan	Starting from ₹1,500 with no maximum limit
Tenure of the Loan	7 days to 36 months

Disclaimer: The values mentioned above are subject to change at the lender’s discretion.

Our Gold Loan Partners

Check out the gold loan interest rates of the lending partners on Bajaj Markets.

Name of the Partner	Interest per Annum	Repayment Tenure
Bajaj Finserv	9.5% - 28% p.a.	Up to 12 months
indiagold	8.28% p.a. onwards	61 days to 12 months
Muthoot Finance	9.96% p.a onwards	7 days to 36 months
Muthoot Fincorp One	9.96% p.a onwards	3 months – 12 months

Disclaimer: Interest rates and tenure can vary at the lender’s discretion.

You can compare the interest rates by estimating your monthly instalments using a gold loan EMI calculator and select a lender that best aligns with your financial goals and budget.

Features and Benefits of Gold Loan

A gold loan is a quick and convenient way to obtain funds using your gold jewellery as collateral. Here are some key features and benefits of taking a gold loan.

High Loan Amount

You can borrow up to 75% of the current market value of your gold, making it an excellent source of capital for various financial needs. The loan amount which can go up to crores can help you manage your immediate financial requirements.

Quick Disbursal

The disbursal time of a gold loan is swift, and the amount is credited within a few hours of loan approval, making it ideal for emergencies.

Easy Repayment Solutions

You can pay regular EMIs or interest monthly, bi-monthly, quarterly, half-yearly, or annually as per your convenience.

Part-Release Facility

With this option, you can repay a part of your loan and take back a portion of your gold jewellery before the end of the loan tenure.

No Hidden Charges

The entire process assures transparency with no hidden charges.

Effortless Application Process

Applying for a gold loan on Bajaj Markets is hassle-free and quick. You can apply online and then visit the lender personally to complete the process.

Part-Prepayment & Foreclosures

You do not have to pay any foreclosure or part-prepayment charges and can close your loan account before the tenure ends.

Credit Score Not Required

Unlike other types of loans, your credit score does not play a significant role in the approval process when you opt for a gold loan.

Eligibility Criteria & Documents Required

Before applying for an online gold loan, understand the eligibility criteria and the documents required for loan approval.

1. Eligibility Criteria

The gold loan eligibility criteria are as follows:

You must be an Indian citizen, above the age of 18 years.
You must be a salaried employee/self-employed individual/ entrepreneur/ farmer/ trader.

2. Documents Required

The list of documents required for a gold loan is listed below.

Identity Proof	Aadhaar card Passport Driving licence Voter ID
Address Proof	Aadhaar card Passport Driving licence Utility bills

How to Apply for a Gold Loan

Applying for a gold loan is easy via Bajaj Markets. Here are the basic steps you must follow:

Step 1: Click on ‘APPLY NOW’ on this page.
Step 2: Enter your name, mobile number, date of birth, required loan amount, pincode, email ID etc.
Step 3: Once you fill in the details, a loan representative of the lending partner (depending on your eligibility and offer) will contact you to process your application further

Gold Loan Quick Links

Gold Rate in Indian States

Gold Rate in Popular Cities

Latest Gold Loan News

According to Muthoot Finance MD, Gold Loan AUM Should Increase by 15% in FY24

Muthoot Finance is seeking a 15 per cent year-on-year (y-o-y) growth in its gold loans AUM, assets under management in the present fiscal year. After witnessing a rather uninspiring H1 FY 23, the managing director of the Non-banking finance company, George Alexander mentioned in an interview that the company displayed lurching growth in Quarter 1 and Quarter 2 in the financial year 2023, but by the end of Quarter 3, the business started growing and continued doing so in the 4th Quarter.

He added that as India’s economic ecosystem is flourishing, there is an increase in the demand for loans, especially gold loans. Up to March 2023, Muthoot Finance’s gross loans under management went up by 9% y-o-y.

- May 25, 2023

NBFCs Target Rural Markets to Maintain Their Share of Gold Loans

NBFCs are trying hard to grow their function in the rural and semi-urban parts of the country. New fields, like building a non-gold portfolio, are being explored and expanded while adding more gold-loan branches in the under-banked segments.

As per experts, there is a huge potential that is available outside the circuit of formal financial companies. Most customers and loan seekers in this section, have short-term capital needs, and with the NBFCs (Non-Banking Financial Companies) offering quicker and hassle-free loan disbursals, they are often preferred more than traditional banks. But at the same time, NBFCs face competition from banks when it comes to gold loans, which they are striving hard to work on.

- April 27, 2023

Big Banks Focus on Gold Loans, Lining Up Lower Interest Rates for a Larger Market Share

Private and Public sector banks like HDFC, Bank of Baroda, etc. are recently focusing on delivering gold loan services to their customers at a reasonable interest rate breaking the monopoly of NBFCs (Non-Banking Financial Institutions) in gold loans.

According to research analyst Anand Gama (Emkay Global), big banks are offering gold loan accessibility in rural and semi-rural areas with high demand and are aggressively offering add-on facilities under their marketing strategies at economical interest rates.

India Ratings and Research report suggest that gold price in the fiscal year 2023 had majorly impacted the business of NBFCs. Apart from that branch set-up restrictions are a barrier to developing a wide network and client base.

Partnerships with fintech and NBFCs allow the banks to render services effectively and efficiently.

- April 20, 2023

People Line up for Gold Loans as Gold Prices Reach a New High of ₹61,000; NBFCs Become Cautious

With gold prices touching a whopping ₹61,000, the NBFCs need to assume a much more careful strategy to minimise the risk element attached to gold loans. It is predicted that rising gold prices and increased collateral coverage could bring positive results for businesses. The steady growth of gold prices over the past few years and NBFCs willing to provide collateral coverage for loans can be positive prospects. .

Factors like increased inflation, a sudden burst of COVID cases and a weaker USD, indicate a further increase in gold prices. Access to more capital, better credit ratings and more flexibility in negotiation are potential benefits that a borrower can watch out for.

- April 11, 2023

Frequently Asked Questions about Gold Loan

✔️What is a gold loan?

A gold loan, sometimes called a jewellery loan, is a secured form of loan where you can pledge your gold jewellery in the form of collateral in exchange for an amount that is determined by the current market value of your gold.
✔️Who can avail a gold loan?

If you are a salaried or self-employed individual between 18 and 70 years and an Indian citizen, you can apply for a gold loan.
✔️Is a gold loan safe?

Yes, it is safe to avail a gold loan, as the lender stores your assets safely in vaults. However, if you default on the repayments, your assets may be auctioned by the lender.
✔️Is my gold secured if I avail a gold loan?

Gold loans are secured loans. They are offered against the gold that you pledge as collateral. You can borrow money against gold jewellery, coins etc. Once you repay the loan, the lender will return the gold.
✔️Is it possible to get a gold loan on jewellery?

Yes, you can get a gold loan on jewellery.
✔️What is the gold loan offered per gram?

A gold loan offered per gram is determined by the total weight of the gold, its purity, and a 30-day average price of the gold on a carat value basis.
✔️What are the consequences if I cannot repay the amount taken as a gold loan?

In most cases, the lender will charge an overdue fee over the gold loan amount. However, if you cannot repay the amount, the lender will auction the collateral you have pledged.
✔️Is a guarantor necessary for a gold loan?

No, a guarantor is not necessary for authorising a gold loan.
✔️Can I foreclose or prepay my gold loan?

Yes, you can prepay or foreclose your gold loan at no extra cost. In addition, you can repay the entire amount or a part of your loan in advance without incurring any penalty charges. This helps you save money and reduce your financial burden.
✔️When should you apply for a gold loan?

You must apply for a gold loan when you require urgent funds to meet your financial requirements. Moreover, you can get up to 75% of the current market value of your gold as a loan, making it an ideal choice for those who need quick cash.