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Features and Benefits of Gold Loan
High Per Gram Rate
Gold loans are secured against your gold, ensuring a higher LTV ratio.
Flexible Repayment Options
During the initial repayment period, you can opt to pay only the interest on the loan against gold, reducing your monthly expenses. The entire principal amount is repaid at the end of the loan tenure.
Quick Processing
The gold loan application process is streamlined, requiring minimal documentation. Once your application is approved, the loan amount is typically disbursed.
Minimal Documentation
The gold loan application process is designed to be hassle-free, requiring fewer documents compared to traditional loans.
No Credit Score Impact
As a secured loan, gold loans do not rely on your credit score for approval.
Types of Gold Loans Available in India
Aditya Birla Capital offers customised gold loan solutions tailored to specific life goals and financial needs. Here are the most common types of gold loans in India you can avail:
Gold Loan for Education
Secure your child’s academic future with a gold loan for education that helps fund tuition fees, hostel costs, or exam preparations. With quick disbursal and flexible repayment, this is a smart way to finance education without long-term liabilities.
Gold Loan for Agriculture
Specially designed for farmers, this gold loan for agriculture comes with lower interest rates and seasonal repayment options. It’s ideal for managing sowing costs, irrigation, fertiliser expenses, or unexpected crop-related challenges.
Gold Loan for Business
Boost your working capital, buy inventory, or expand operations using a gold loan for business. With minimal paperwork and high loan-to-value, it's a convenient funding option for traders, shop owners, and small businesses.
Gold Loan for Women
Empowering women entrepreneurs, this gold loan for women offers preferential rates and simplified approval. Whether it’s for launching a new business, managing household needs, or investing in personal goals, this loan brings financial freedom within reach.
Gold Loan for Emergency Needs
Unexpected medical bills or urgent family expenses? Our emergency loan against gold offers instant liquidity when time is critical. Just walk into a branch with your gold jewellery and walk out with funds the same day.
How to Apply for Gold Loan in 5 Easy Steps
Determine your financial needs
Check loan eligibility
Calculate monthly instalment
Submit the relevant documents
Apply for the loan
Gold Loan Interest Rates
Gold Loan Monthly Interest Table (at 0.81% p.m.)
| Loan Amount (₹) | 1 Month | 3 Months | 6 Month | 12 Month |
|---|---|---|---|---|
| ₹30,000 | ₹243 | ₹729 | ₹1,458 | ₹2,916 |
| ₹50,000 | ₹405 | ₹1,215 | ₹2,430 | ₹4,860 |
| ₹1,00,000 | ₹810 | ₹2,430 | ₹4,860 | ₹9,720 |
| ₹2,00,000 | ₹1,620 | ₹4,860 | ₹9,720 | ₹19,440 |
| ₹5,00,000 | ₹4,050 | ₹12,150 | ₹24,300 | ₹48,600 |
Note:This is a calculation at the base rate of 0.81% per month. Actual rates may vary depending on the gold purity, loan tenure, borrower profile, and other eligibility conditions.
Eligibility criteria and documents required for gold loan
Eligibility Criteria for Gold Loan *
- Minimum Age You must be at least 18 years of age at the time of the gold loan application.
- Citizenship The applicant must be an Indian citizen with valid proof of identity and residence.
- Gold Purity The gold should have a minimum purity of 18 karats. Higher purity may fetch a better loan against gold amount.
- Gold Quantity A minimum of 10 grams of gold must be submitted to qualify for the jewel loan.
- Minimum Loan Amount The minimum loan amount that can be availed is ₹30,000.
- Acceptable Gold Forms Only gold jewellery is accepted. Gold coins or bars may not be eligible under standard gold loan schemes.
Note: These are general criteria. Final eligibility may vary based on branch-level assessment and submitted documentation.
Documents Required for Gold Loan
Applying for a gold loan with Aditya Birla Capital is quick and hassle-free, thanks to minimal documentation requirements. Here's a detailed overview of the key documents typically required:
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ID Proof
A valid government-issued photo ID is necessary. Acceptable documents include:
Aadhaar Card, PAN Card, Voter ID, Passport, or Driving Licence. -
Address Proof
To verify your residential address, you can submit any of the following:
Aadhaar Card, Voter ID, Passport, Driving Licence, Lease/Rent Agreement, or recent Utility Bills (Electricity, Water, or Gas). -
Additional Requirements
• A recent passport-size photograph.
• A signed gold loan application form. In most cases, income proof is not required, making gold loans highly accessible even for individuals without regular salary slips or filed ITRs. - Income Proof In most cases, income proof is not required, making gold loans accessible even for individuals without regular salary slips or filed ITRs.
Please note: This is an indicative list and may vary slightly depending on your loan profile or branch-specific requirements. It’s always advisable to check with your nearest Aditya Birla Capital branch for the most accurate document list.
Who Can Apply for Gold Loan ?
Salaried professionals
Self-employed individuals
Business owners
Students
Senior citizens
Pensioners
Homemakers
Gold Loan Fees & Charges
In addition to the interest rate, lenders may also charge various fees and charges associated with gold loans. These fees can vary depending on the lender, the type of loan, and the loan amount. Some common fees and charges associated with gold loans include:
| Charge Type | Amount |
|---|---|
| Processing fee: | This is a one-time fee charged by the lender to process your loan application. The processing fee can typically range from 0.5% to 1% of the loan amount. |
| Prepayment charges | If you repay a share of the loan amount before the end of the loan term, you may be charged a prepayment fee. The prepayment fee can vary depending on the lender and the scheme you have chosen. |
| Late payment charges | If you fail to make your monthly payments on time, you may be charged with a late payment fee. The late payment fee can vary depending on the lender, the scheme you have chosen and the amount of the missed payment. |
| Defaulting on interest payment | If you default on an interest payment on one of the loans, a penalty will be levied. The cost of the penalty will depend upon the lender and the scheme you have chosen. It could either be a % of the loan amount as a penal charge or a hike in the interest rate. |
| Foreclosure charges | If you pay off the entire loan amount before the end of the loan term, you may have to pay foreclosure charges. The amount of foreclosure charges will depend on the lender and the type of scheme chosen. |
Things to consider before taking a gold loan
Loan Amount and Tenure
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Assess your needs
Determine the exact amount of money you need to borrow to fulfil your financial goals.
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Choose a flexible tenure
Select a loan term that aligns with your repayment capacity and financial situation.
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Consider prepayment options
Check the lender's policies regarding prepayment and whether there are any associated charges.
Gold Valuation:
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Ensure accurate valuation
Verify that the lender uses a reliable method to assess the value of your gold.
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Check for purity and weight
Ensure that the lender accurately determines the purity and weight of your gold.
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Consider potential depreciation
Be aware that the value of gold can fluctuate, so consider the potential impact on your loan if the value decreases.
Loan Processing Time
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Prioritise quick disbursal
Choose a lender with a reputation for efficient loan processing and quick disbursement.
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Enquire about processing time
Ask the lender about their typical processing times and any factors that might affect the speed of the loan approval.
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Consider online applications
If you prefer a more convenient and efficient application process, look for lenders that offer online applications.
Documentation:
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Check for minimal requirements
Check the necessary documentation and ensure that you have all the required paperwork available.
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Ask about online document submission
If possible, ask about the option to submit documents electronically to save time and effort.
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Be prepared for additional documents
Be prepared to provide additional documents if requested by the lender, such as proof of income or address.
Repayment Options
-
Enquire about flexibility
Ask the lender about the available repayment options, such as monthly instalments, part payments, or prepayments.
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Consider convenient payment methods
Choose a lender that offers convenient payment methods, such as online transfers, automatic deductions, or physical payments.
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Be aware of late payment charges
Understand the lender's policies regarding late payments and any associated charges.
Interest Rates
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Compare rates and charges
Research interest rates offered by different lenders and compare them to find the most competitive option.
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Consider hidden fees
Be aware of any additional charges or penalties that might increase the overall cost of the loan.
-
Understand interest calculation
Determine whether the interest is calculated monthly or annually.
Different financial needs, different loans,
For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.
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Range of loan options for different needs -
Range of loan options for different needs
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Quick sanctions and disbursals
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ABC Of Gold Loans