Question 1

How much gold loan can I get per gram?

Accepted Answer

You can get up to 75% of your gold's current market value as a loan. For example, at a 22K rate of ₹7,500 per gram, you can receive approximately ₹5,625 per gram as a loan.

Question 2

What is the interest rate for a gold loan in India?

Accepted Answer

Gold loan interest rates in India typically range from 7% to 24% per annum, depending on the lender, loan amount, and tenure. Banks generally offer lower rates than NBFCs.

Question 3

What gold purity is accepted for a gold loan?

Accepted Answer

Most lenders accept 18K, 20K, 21K, 22K, and 24K gold jewellery for a gold loan. Higher purity gold attracts a higher loan amount. Coins and bars may also be accepted by some lenders.

Question 4

How quickly is a gold loan disbursed?

Accepted Answer

With FinVedik GoldBiz partner banks and NBFCs, your gold loan can be disbursed within 30 minutes of document verification and gold appraisal at the branch.

Question 5

What documents are required for a gold loan?

Accepted Answer

You typically need a government-issued photo ID (Aadhaar, PAN, or passport) and address proof. The gold jewellery is pledged as collateral. Income proof is generally not required.

Question 6

Can I get a gold loan without income proof?

Accepted Answer

Yes. Gold loans are secured loans backed by your gold as collateral. Most banks and NBFCs do not require income proof or salary slips for a gold loan.

Question 7

What is the maximum loan-to-value (LTV) ratio for a gold loan?

Accepted Answer

As per RBI guidelines, the maximum loan-to-value (LTV) ratio for gold loans is 75%. This means you can borrow up to 75% of your gold's current market value.

Question 8

Is a gold loan better than a personal loan?

Accepted Answer

Gold loans typically offer lower interest rates (7%–12% p.a.) compared to personal loans (12%–24% p.a.) because they are secured by gold collateral. They also have faster approval and minimal documentation.

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