Gold loan as the name suggests is a loan which you take against your gold. One has to basically keep his/her gold ornaments as collateral to any bank or NBFC. The lender then weighs and examines the gold articles and sanctions amount that is a certain percentage of the gold’s value.

You can get a Gold loan up to Rs. 1 Crore from Mantra Finserv by fulfilling the easy-to-meet eligibility criteria. Upon approval of your application, you can get the loan amount in your bank account within 48 hours.

Work Profile Salaried and Self-employed.

1. Businessmen also prefer this loan to
meet their working capital requirements.

2. Some lenders lend gold loan to
housewives and senior citizens as it is a
secured loan.

3. Gold Quality The most essential requirement for
gold loan is the borrower should own
gold.

4. The gold article to be mortgaged should
be in between 18-24 carat.
Type of Gold *Gold bars and coins.

5. Jewelry with 18-24 carat purity.

1. Select your lender.
2. Check your eligibility.
3. Apply for loan
4. Your documents will get verified by the lender.
5. The quality and purity of your gold will be checked.
6. After the lender is satisfied the loan will be disbursed

The interest rates for gold loans starts from 7.50% onwards.

Since gold loan is a secured loan, all you need to keep with the lender is your gold and an application form and KYC documents. (PAN and KYC documents such as valid Passport/ Driving License /Voters ID card /Aadhaar Card).

The weight, quality,purity of gold and its market price. And If the gold ornaments you are keeping as collateral, contain precious stones, the loan amount is still determined on only gold & not the precious stones.

Any Indian citizen who is 18 years and above and owns gold articles is eligible to take a gold loan.