Crack the Gold Loan Code


Gold Loans are a popular choice among individuals who need quick access to funds while using their goldjewellery as collateral. If you have been considering a Gold Loan, you may have some questions in mind.

Here are the 8 most frequently asked questions about Gold Loans:

  1. How does a Gold Loan work? A Gold Loan is a secured loan where you pledge your gold ornaments as collateral in exchange for funds. The lender evaluates the purity and weight of the gold and provides a loan amount based on its value. Once you repay the loan with interest within the agreed-upon period, you get your gold back.
  2. What is the eligibility criteria for a Gold Loan? The eligibility criteria for a Gold Loan are usually simple and straightforward. You must be at least 18 years old and possess gold jewellery or ornaments that meet the lender's purity requirements. Even if you don't have a regular income or a good credit score, you can still get a Gold Loan.
  3. How much loan amount can I get against my gold? The loan amount you can get against your gold depends on its purity, weight, and the current market value of gold. Lenders typically offer up to 75-90% of the gold's value as a loan. You can use online Gold Loan calculators provided by lenders to estimate the loan amount you may be eligible for.
  4. What are the interest rates and processing fees for Gold Loans? Gold Loan interest rates are usually lower compared to other types of loans as they are secured by collateral. The interest rates can vary among lenders, so it's advisable to compare offers from different institutions. Additionally, many lenders offer zero or minimal processing fees to attract customers.
  5. How long is the repayment tenure for Gold Loans? The repayment tenure for Gold Loans can vary from a few months to a few years, depending on the lender and the loan amount. It is essential to choose a tenure that suits your repayment capacity. Some lenders also offer flexible repayment options, allowing you to pay only the interest during the tenure and the principal at the end.
  6. What happens if I am unable to repay the Gold Loan? If you are unable to repay the Gold Loan within the specified period, the lender has the right to auction the gold to recover the loan amount. However, most lenders provide a grace period and multiple reminders before taking such action. It's crucial to communicate with the lender and explore options like loan renewal or extension if you foresee difficulties in repayment.
  7. Is my gold safe with the lender? When you take a Gold Loan from a reputable lender, your gold is typically stored securely in their vaults. Look for lenders who comply with industry standards for gold storage and safety, such as BIS Standard 9400. Some lenders also provide insurance coverage for your gold during transit and storage.
  8. Can I get a Gold Loan from home? Yes, many lenders now offer the convenience of availing a Gold Loan from the comfort of your home. With services like Muthoot FinCorp ONE's Gold Loan from Home, you can apply for a loan online, get your gold valued, and have the loan amount transferred to your bank account, all within 30 minutes*.

Gold Loans provide a quick and accessible financing option for individuals who own gold assets. By understanding the key aspects of Gold Loans and clarifying any doubts you may have, you can make an informed decision and leverage the value of your gold when you need it the most. Remember to choose a reputable lender and explore their offerings to find the best Gold Loan that suits your needs.

With Muthoot FinCorp ONE, you can get no-questions-asked, super secure quick Gold Loans from the comfort of your home or at any of our 4500+ branches across India. India. You can choose from a range of the Gold Loan Plan cover your finances.

What's more? When you take a Gold Loan from Muthoot FinCorp ONE, we take complete responsibility for your gold. Our Loan Manager home visits are OTP-verified, your Gold jewellery is stored at a Muthoot FinCorp branch near you. And we have a BIS Standard 9400 compliance for gold storage and safety. Also, your Gold is insured and tracked during transit. With Muthoot FinCorp ONE you can get instant money at your convenience.

Muthoot FinCorp ONE, as an SBU of Muthoot FinCorp Limited, is a one-stop solution for your finances. With a legacy spanning over 135 years and the trust of more than 1 crore customers, you can be confident that when you are with Muthoot FinCorp ONE, you are with the best in the business.

So what are you waiting for? Head to the Play Store and download the Muthoot FinCorp ONE app. You can also visit the website today to know more.

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