Gold Loan

Looking to apply for a gold loan? Look no further than Buddy Loan! We offer hassle-free solutions for loan against gold in India. Unlock the power of your gold assets and enjoy our attractive gold loan interest rates starting at just 11.99% p.a. With Buddy Loan, you can easily obtain a gold loan by submitting your gold, gold ornaments/jewellery/coins as collateral. Our flexible repayment options ensure that you can repay the loan at your convenience. Experience the trusted and reliable gold loan service provided by Buddy Loan and meet your urgent cash requirements today.

Gold Loans by Top Banks in India

Experience the ultimate financial flexibility with our unbeatable gold loan deals offered by the top banks in the industry.

Gold Loan Providers Interest Rate Loan Amount Tenure Processing Fee
HDFC Bank 9.90% onwards ₹25,000 onwards & ₹10,000 for rural areas 3 months to 24 months 1.5% + GST
ICICI Bank 11% p.a. onwards ₹10,000 to ₹1 crore 3 months to 12 months 1% of the loan amount
Canara Bank 7.65% p.a. onwards ₹5,000 to ₹20 lakh 6 months to 2 years 0.25% of the loan amount/td>

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Note- The interest rates mentioned are subject to change. Do visit the website for more information.

Gold Loan by Top NBFCs in India

Experience the ultimate financial flexibility with our unbeatable gold loan deals offered by the top NBFCs in the industry.

Gold Loan Providers Interest Rate Loan Amount Tenure Processing Fee
Muthoot Finance 12% p.a. onwards ₹1,500 – No Limit 7 days to 36 months 0.25% to 1% of the loan amount
IIFL 9.24% p.a. onwards ₹3,000 onwards 3 months to 11 months NA
Manappuram Finance 9.90% p.a. onwards ₹1,000 to ₹1.5 crore 3 months onwards ₹10 (during loan settlement)
Bajaj Finance 14% p.a. onwards ₹15,000 to ₹15 lakhs 6 months to 36 months 1.90%
Note- The interest rates mentioned are subject to change. Do visit the website for more information.

Features & Benefits of Gold Loan

Fulfill your financial requirements effortlessly and address all your expenses with Gold Loan.

Quick Approval

Get your loan approved
within minutes.

Easy Repayment

Choose your preferred
repayment tenure.


Can be used for a
variety of purposes.

Lower Interest Rates

Interest rates starting from
11.99% p.a. & avail a gold
loan with better credibility

Larger Repayment

The window for repayment
of the gold loan extends
upto 60 months

No Prepayment

No hidden charges
and extra penalties.

Gold Loan Interest Rates, Fees & Charges

The interest rates for a gold loan often range from 7.50% p.a to 12.50% p.a. Here is the table for gold loan interest rates, fees and charges in India

Type of Fee Charges Applicable
Processing fee 0.5% of the loan amount.
Valuation fee ₹500 for a loan amount of up to ₹2 lakh.
₹750 for loan amounts above ₹2 lakh.
Penal charge 2% p.m. applicable.
Foreclosure charges 2% of Gold Loan amount if loan closed within 90 days of disbursal
Stamp duty Charges As per state norms
Late Payment Charges 24% per annum on overdue amount or ₹300, whichever is higher during tenure.

Factors Affecting Gold Loan Interest Rates

There are various factors that affect your gold loan interest rates. So here are the factors that help you avail lowest gold loan interest rate.

Loan-to-Value (LTV) Ratio: The loan amount sanctioned relative to the value of the gold determines the risk involved for the lender. Lower LTV ratios often lead to lower gold loan interest rates.

Gold Purity: The purity and quality of the gold being pledged as collateral can impact the interest rates. Higher-purity gold may fetch better interest rates due to its higher market value.

Loan Tenure: The duration of the loan can influence the interest rate. Longer loan tenures may attract slightly higher interest rates compared to shorter tenures.

Market Conditions: Fluctuations in the market and the prevailing interest rate environment can influence gold loan interest rates. Lenders may adjust rates based on prevailing economic conditions.

Borrower's Credit Profile: While gold loans are secured by collateral, some lenders also consider the borrower's credit history and financial profile. A strong credit profile may result in more favourable interest rates.

Eligibility Criteria For A Gold Loan

The eligibility criteria usually varies from lender to lender. So it is suggested to check if you meet the required criteria mentioned on the lender’s website before applying for a gold loan. Therefore, here are the generalised eligibility gold loan:

Factors Eligibility Criteria
Age 18 to 75 years
Profession Salaried, Self-employed, businessman
Gold Articles Gold jewellery, ornaments or coins
Gold Purity Minimum 18 carats & Above
Loan To Value

Gold Loan EMI Calculator

Easily calculate your monthly payments for a Gold Loan with the help of a Gold Loan EMI (Equated Monthly Installment) calculator. This useful tool considers factors such as the loan amount, interest rate, and loan tenure to determine your monthly EMI. By simply entering your loan amount, loan period, interest rate, and processing fee, you can quickly calculate your EMI.

Take advantage of our Gold Loan EMI calculator and find out your monthly payment amount today.

Ready to calculate your monthly EMI?

Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Documents Required For Gold Loan

Here is the general list of gold loan documents required:

Identity Proof:

Income Proof:

Address Proof:

Tips Before Applying for a Gold Loan

Now you can increase your chances of gold loan approval by following certain guidelines. Here are some essential do's and don'ts to improve your chances of getting a gold loan:

Do's Don'ts
Check your credit score: Before applying for a gold loan, it's advisable to check your credit score. Don't overlook your credit score. A poor credit score may affect your loan eligibility and interest rates.
Research lenders: Take the time to research and compare different lenders offering gold loans. Don't rush into borrowing from the first lender you come across.
Understand loan terms: Read and understand the terms and conditions of the loan agreement. Don't sign the loan agreement without fully understanding its terms.
Prepare required documents: Gather all the necessary documents for a gold loan application. Don't forget to gather and organize all the required documents.

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Steps to Apply for a Gold Loan

Here’s the step-by-step process that you can follow to apply for a gold loan on Buddy Loan:

  • Step 1: Visit or Download & install the Buddy Loan app (Android or iOS).
  • Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
  • Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
  • Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
  • Step 5: Enter your work details (Including company name, years of service and Designation)
  • Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
  • Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Gold Loan Repayment

Gold loan repayment refers to the process of repaying the borrowed amount along with the accrued interest within the agreed-upon tenure. Lenders provide different modes of payment to facilitate easy and convenient repayment options for borrowers: pre-payment and part-payment.

Pre-payment allows borrowers to make an early repayment of a lump sum amount, reducing the loan principal and the interest burden.

Part-payment involves making partial repayments towards the principal amount, helping to lower the overall interest paid and shorten the loan tenure.

Let's now explore the various modes of payment:

EMI (Equated Monthly Installment): You can repay the loan amount and interest in fixed monthly installments over the agreed tenure.

Online Payment: You can make loan repayments through online platforms or mobile applications using net banking, debit cards, or mobile wallets.

Cheque or Demand Draft: You can also choose to repay the gold loan by issuing a cheque or demand draft in favor of the lender for the specified loan amount.

Frequently Asked Question on Gold Loan

Taking a gold loan is generally considered safe since it involves pledging your gold assets as collateral. However, it is important to approach reputable and trusted lenders to ensure a secure transaction. Extensive research can help you further.

Gold loans can be beneficial for various individuals, with limited or no credit history, who prefer minimal documentation or credit checks & flexible repayment options.

Yes, gold loans are generally easier to obtain compared to other types of loans. Since gold serves as collateral itself, lenders are often more lenient with eligibility criteria and credit history checks.

To apply for an instant personal loan online, you can check if you arepre-approved for a personal loan on our website.

Yes, a PAN (Permanent Account Number) card is typically required when applying for a gold loan. It is mandatory, as it helps lenders verify the borrower's identity and maintain transparency in financial transactions.

Gold loans can be considered profitable depending on the borrower's specific circumstances and financial goals. They offer quick access to funds, often at lower interest rates compared to unsecured loans. However, profitability may vary based on factors such as the fluctuating price of gold, interest rates, and repayment capacity.

The best bank for a gold loan can vary depending on factors such as interest rates, loan-to-value ratio, repayment terms, customer service, and other features. It is advisable to research and compare different banks, including public and private sector banks, as well as non-banking financial institutions (NBFCs), to find the one that offers the most favorable terms and suits your specific requirements.

The interest rates and loan amounts for gold loans can vary among different lenders. With Buddy Loan, you can compare the loan offerings from various banks and NBFCs to find the lowest interest rate and best loan terms that suit your needs. The lowest gold loan can vary based on factors such as the borrower's creditworthiness, loan-to-value ratio, and prevailing market conditions.

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