A gold loan is a secured loan that a borrower takes from takes from a lender such as bank or a financial institution, in lieu of their gold ornaments. The interest rate of gold loan is calculated based on multiple factors such as purity of gold, weight of the ornament, tenure of the loan etc
Unlike other secured loans, there is no specific eligibility criteria for applying for a gold loan. Whether you are a homemaker, farmer, working professional or a businessperson – any Indian resident can apply for this. There is also no restriction on the end use of such loans and hence, capital against this type of loan can be used to fund education, weddings, vacations or any other financials requirements that you may have.
Walk into your nearest Muthoot FinCorp’s branches, submit your gold with your KYC documents and take the loan in one visit. Our experience in providing instant gold loans to our valued customers for years makes us one of the preferred gold loan companies in India.