Manappuram gold loan offers you a convenient solution to any financial emergencies that you face. With attractive interest rates ranging from 9.90% p.a. to 31.89% p.a., you can pledge your gold ornaments in exchange for a loan for personal, business, or emergency expenses. Moreover, Manappuram Finance Limited offers flexible and inclusive gold loan schemes designed to provide unique benefits and personalised loan terms that fit your needs.
These schemes allow you to choose from various loan amounts, interest rates, and rebates. Whether you need a small loan for immediate expenses or a larger sum for significant financial commitments, Manappuram offers you convenient access to funds without compromising your financial stability.
Table of Contents:
- ⇾ Manappuram Gold Loan Details
- ⇾ Manappuram Gold Loan Interest Rates and Charges
- ⇾ Manappuram Gold Loan Eligibility Criteria
- ⇾ Documents Required for Manappuram Gold Loan
- ⇾ Manappuram Gold Loan Schemes
- ⇾ Features and Benefits of Manappuram Gold Loan
- ⇾ Gold Loan Interest Rates of Banks and NBFC
- ⇾ Steps to Apply for Manappuram Gold Loan
- ⇾ Manappuram Gold Loan Calculator
- ⇾ Frequently Asked Questions
Manappuram Gold Loan Details
Manappuram Finance offers gold loans that help you meet various financial requirements. Below are the details of the Manappuram gold loan:
| Loan Amount | ₹10,00 to ₹1.5 Crore |
| Interest Rate | 9.90% to 31.89% p.a. |
| Tenure | 365 days |
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Manappuram Gold Loan Interest Rates & Charges
Manappuram gold loan offers attractive interest rates and transparent charges that vary depending on the loan amount, tenure, and the specific loan scheme you choose. In addition to the interest rates, there are other charges associated with the gold loan. These may include processing fees, late payment penalties, rebate rates, and more. These rates and charges are as follows:
| Interest Rate | 9.90% to 31.89% p.a. |
| Rebate Rate | 0% to 15.1% p.a. |
| Processing Fee | ₹10 |
| Additional processing Fee on Repledge | 0.007% of New Pledge Value + GST Extra |
| Penal Charges | 3% p.a. |
Security Charges Based on Loan Amount
| Up to ₹10,000 | No charges |
|---|---|
| >₹10,000 to ₹50,000 | ₹15 |
| >₹50,000 to ₹1 lakh | ₹30 |
| >₹1 lakh to ₹1.5 lakhs | ₹45 |
| >₹1.5 lakh to ₹ 2 lakhs | ₹60 |
| >₹2 lakhs to ₹5 lakhs | ₹75 |
| Above ₹5 lakhs | ₹95 |
Auction charges based on loan amount
| Particulars | ₹0 - ₹1 lakhs | ₹1 lakhs - ₹2 lakhs | Above ₹2 lakhs |
|---|---|---|---|
| Printing and stationary | ₹50 | ₹100 | ₹150 |
| Advertisement charges | ₹150 | ₹150 | ₹150 |
| Transportation | ₹50 | ₹75 | ₹100 |
| Insurance | ₹25 | ₹75 | ₹75 |
| Charges paid to Auctioneer | ₹25 | ₹50 | ₹50 |
| Postage | ₹50 | ₹50 | ₹50 |
| Expenses incurred for sorting,litting, and other auction-related work | ₹150 | ₹250 | ₹425 |
| Total charges | ₹500 | ₹750 | ₹1000 |
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Manappuram Gold Loan Eligibility Criteria
To avail of a Manappuram gold loan, there are certain eligibility criteria, these are:
- Age Requirement: Applicants must be at least 18 years old.
- Ownership of Gold: The applicant must have gold ornaments or coins that meet the purity standards required by Manappuram.
- Credit Score: A good credit score is not mandatory, however, it may influence the loan amount and terms offered.
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Documents Required for Manappuram Gold Loan
There are certain documents required to apply for a Manappuram gold loan, these are:
Manappuram Gold Loan Schemes
Manappuram Finance offers various gold loan schemes that allow various individuals to get the loan terms that suit their financial needs. These schemes are listed based on the risk of the customers in categories of S, A, B, C, D, E, F at a tenure of 365 days. Here are some of the Manappuram gold loan schemes and their details:
Important Note
PL Scheme is only available in Kerala.
MT+ Schemes are meant for loan takeovers from nationalised banks, private banks,NBFCs, and local finance entities.
MBL Schemes are specifically for live customers in the existing MBL scheme.
S Scheme category is for branches in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana.
| Scheme | Loan Amount | Interest Rate | Category |
|---|---|---|---|
| HNL (High Net-worth Loan) | Minimum ₹50 Lakhs | 11% p.a. after rebate | All Categories |
| SX | Minimum ₹1,000 | 24.75% p.a. | S |
| PL | Minimum ₹1,000 | 21% p.a. | Only applicable in Kerala |
| TMA1 to TMA6 | ₹1 Lakh to ₹20 Lakhs (varies by scheme) | 1%-22% p.a. | S |
| MBL-1 to MBL-3 | Up to ₹2 Lakhs | 14%-16% p.a. | S |
| SS2-1 to SS2-5 | Minimum ₹1 Lakh | 11.90%-16.50% p.a. | S |
| MT+1 to MT+3 | Minimum ₹1.5 Lakhs | 10.90%-16% p.a. | S |
| SY | Up to ₹1 Lakh | 21.50% p.a. | S |
| DS | Up to ₹75,000 | 2% p.a. | S |
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note : The interest rates mentioned above are subject to change at the lender's discretion.The A, B, C, E, and F categories have similar schemes available in these categories with slight variations in loan limits, interest rates, and rebates based on customer category. The schemes generally follow the same structure as in the S category but may offer different rebates or conditions based on the specific customer segment. You can check the official website for more details.
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Features & Benefits of Manappuram Gold Loan
Manappuram Finance offers the following features and benefits, these are:
- Loans up to ₹1.5 Crore: Manappuram offers gold loans up to ₹1.5 crore, avoiding lengthy documentation processes and ensuring 100% safety and security for your gold jewellery.
- Flexible Interest Payment: Pay interest starting from 9.90% p.a. only for the exact period the loan is availed.
- Loan for 1-Year Duration: Manappuram offers gold loans with a tenure of up to 1 year, giving you ample time to repay at your convenience.
- Transparent Charges: Manappuram ensures that there are no hidden fees or extra charges when you take a gold loan, providing transparency and trust in their services.
- Get Instant Cash: Pledge your gold ornaments and jewellery to get instant disbursement of your loan amount, making it an ideal solution for immediate financial requirements.
- Various Schemes: Manappuram offers various gold loan schemes to suit different financial needs and income groups. You can choose the one that best fits your requirements.
- Risk-Related Interest Rate: The interest rate is directly related to the Loan-to-Value (LTV) ratio. Higher LTV loans will have a higher interest rate, reflecting the increased risk.
- Penal Charges: If the loan remains outstanding beyond its normal tenure, penal charges will be applied at 3% per annum on the outstanding amount until the loan is regularised or closed.
- Anytime Liquidity: Manappuram’s gold loans provide you with the flexibility to access liquidity whenever you need it, offering financial freedom and security.
Gold Loan Interest Rates of Banks and NBFC
Various Banks and NBFCs offer attractive gold loan interest rates. You can check and compare the rates from various lenders to find the best loan terms for you:
| Bank/NBFC | Gold Loan Interest Rate % p.a. |
|---|---|
| UCO Bank Gold Loan | 8.50% p.a. onwards |
| Punjab & Sind Bank Gold Loan | 8.85% p.a. onwards |
| SBI Gold Loan | 9.05% p.a. onwards |
| Bank of Baroda Gold Loan | 9.15% p.a. onwards |
| Punjab National Bank Gold Loan | 9.25% p.a. onwards |
| Bank of Maharashtra Gold Loan | 9.30% p.a. onwards |
| Federal Bank Gold Loan | 9.49% p.a. onwards |
| City Union Bank Gold Loan | 9.50% p.a. onwards |
| Canara Bank Gold Loan | 9.60% p.a. onwards |
| Manappuram Gold Loan | 9.90% p.a. onwards |
| J & K Bank Gold Loan | 10.00% p.a. onwards |
| ICICI Bank Gold Loan | 10.00% p.a. onwards |
| South Indian Bank Gold Loan | 10.01% p.a. onwards |
| Karur Vysya Bank Gold Loan | 10.25% p.a. onwards |
| Karnataka Bank Gold Loan | 11.21% p.a. onwards |
| Axis Bank Gold Loan | 17.00% p.a. onwards |
| Kotak Mahindra Bank Gold Loan | 8.00% - 24.00% p.a. |
| HDFC Bank Gold Loan | 8.30% to 16.55% p.a. |
| Central Bank of India Gold Loan | 8.45% to 8.55% p.a. |
| Indian Bank Gold Loan | 8.65% to 9.00% p.a. |
| Union Bank Gold Loan | 8.65% to 9.90% p.a. |
| IndusInd Bank Gold Loan | 8.75% to 16.00% p.a. |
| Bandhan Bank Gold Loan | 8.75% to 19.25% p.a. |
| Bajaj Finserv Gold Loan | 9.50% - 28.00% p.a. |
| IIFL Finance Gold Loan | 11.88% - 27.00% p.a |
| Muthoot Finance Gold Loan | 22% p.a. with a 2% rebate if 100% interest is paid monthly |
| AU Small Finance Bank Gold Loan | Up to 24.00% p.a. |
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Note: The interest rates mentioned above are subject to change at the lender's discretion.Steps to Apply for Manappuram Gold Loan
Manappuram Finance offers you a simple process of getting a gold loan, follow the steps below:
- Step 1: Locate and visit your nearest Manappuram branch. Alternatively, you can begin the process online through their official website or mobile app.
- Step 2: Present your gold ornaments to the lender. Manappuram's experts will evaluate the purity and weight of your gold to determine its market value. Based on this valuation, they will calculate the maximum loan amount you are eligible to borrow.
- Step 3: Complete the loan application form provided by Manappuram. Ensure that all details are accurately filled in to avoid any delays.
- Step 4: Submit all the required documents, which generally include ID Proof, Address Proof, PAN Card or Form 60, and a recent passport-sized photograph.
- Step 5: After verification of your documents and the valuation of your gold, Manappuram will approve your loan and you will get it disbursed into your bank account.
Check out more on other gold investment & deposit schemes from the links below:
Check out more on sovereign gold bonds below:
Manappuram Gold Loan Calculator
The gold loan calculator is a convenient online tool that you can use to help you estimate the loan amount you can avail by pledging your gold ornaments. By using this calculator, you can quickly determine the value of the loan based on the weight and purity of your gold, giving you a clear understanding of your borrowing potential even before visiting a branch.
You can easily follow the steps below to use the gold loan calculator:
Step 1: Enter the weight (in grams) and the purity (in carats) of your gold ornaments.
Step 2: Select from various loan schemes offered by Manappuram. Each scheme may have different loan-to-value (LTV) ratios, interest rates, and repayment options.
Step 3: The calculator will then instantly generate an estimate of the loan amount you are eligible for, along with the applicable interest rate.
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Check out more on gold loans from the top banks below:
| SBI Gold Loan | HDFC Gold Loan |
| ICICI Bank Gold Loan | IDFC Bank Gold Loan |
| Axis Bank Gold Loan | Canara Bank Gold Loan |
| Bank of Baroda Gold Loan | PNB Gold Loan Interest Rate |
| Federal Bank Gold Loan | Indian Overseas Bank Gold Loan |
| Union Bank Gold Loan | Bank of Maharashtra Gold Loan |
| Indian Bank Gold Loan | IndusInd Bank Gold Loan |
| Kotak Mahindra Gold Loan | South Indian Bank Gold Loan |
| IDBI Gold Loan | RBL Bank Gold Loan |
| Yes Bank Gold Loan | Central Bank of India Gold Loan |
| UCO Bank Gold Loan | Karnataka Bank Gold Loan |
| JK Bank Gold Loan | Dhanlaxmi Bank Gold Loan |
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Note:The interest rates mentioned above are subject to change at the lender's discretion.Check out more on gold loan rates from other gold loan lenders:
| IIFL Finance Gold Loan | Rupeek Gold Loans |
| Manappuram Gold Loan | Capri Gold Loan |
| Muthoot Finance Gold Loan | Shriram Finance Gold Loan |
| Kosamattam Gold Loan | - |
Frequently Asked Questions
You can apply for a Manappuram Gold Loan by visiting a branch, submitting the required documents, and pledging your gold.
The documents required for a Manappuram Gold loan are ID proof, address proof, a photograph, PAN or Form 60, and gold ornaments for collateral.
The maximum loan amount you can get from Manappuram Finance is ₹1.5 crore.
The interest rate for Manappuram gold loan starts from 9.90% p.a. onwards.
Interest on a Manappuram Gold Loan is calculated daily on the outstanding balance, based on the contracted annualised rate.
The repayment period for the Manappuram gold loan is 365 days.
No, there are no prepayment penalties for Manappuram Gold Loans. You can repay the loan early without extra charges.
Yes, you can renew or extend your Manappuram Gold Loan by paying the interest due and applicable renewal charges.
If you default on your Manappuram Gold Loan, your pledged gold may be auctioned to recover the outstanding loan amount.
The price of gold per gram in Manappuram Finance will vary depending on the quality of the gold and the scheme you choose.
Yes, you can borrow money with your gold. Follow the steps given above to get financial help using your gold as leverage.
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