Apply for Gold Loan

EMI Calculator

Gold Amount

gm
kg

Loan Amount

Tenure (In Years)

Offered EMI Amount:

*The market value of your gold is calculated by taking 30 days average gold rate of 22 carat gold. Purity of the gold is assumed at 22 carat. *You can avail a maximum loan of up to 75% of the market value of your gold depending on the quality of the gold.

Gold Loan Features

Loan in just 15 minutes

Apply with PAN or Aadhar Card

Loans starting from Rs.5,000

Multiple repayment options

Features and Benefits of our Gold Loan

  • Secured Loan:  Backed by gold collateral.
  • Quick Processing:  Fast approval and disbursement.
  • Flexible Loan Amount : Based on pledged gold value.
  • Instant Liquidity:  Access funds quickly without selling gold.
  • Lower Interest Rates:  Secured nature leads to competitive rates.
  • Versatile Use:  No restrictions on how loan funds are used.

Gold Loan Eligibility and Documents

Read on to know the criteria required to apply for our Gold Loan.

Eligibility Criteria

  • Age: Typically, borrowers should be 18 years or older.
  • Ownership: You must own the gold being pledged.
  • Gold Quality: The gold should meet the lender's purity standards.
  • Identification: Valid government-issued ID for identity verification.

Documents Required to Apply for Gold Loan

  • Identity and signature proof
  • Voter ID
  • Passport
  • Aadhaar Card
  • Driving License
  • PAN Card
  • Employee Identity Card (in case of government employees)
  • Address Proof
  • Rent Agreement
  • Bank Statement
  • Voter ID Card
  • Passport
  • Driving License
  • Telephone/Electricity/Water/Credit Card bill or Property tax.
  • Two post-dated cheques for security purposes
  • Passport-size photographs

How to Apply for Gold Loan at Ruloans?


To apply for a gold loan, you can follow these general steps. Keep in mind that the specific process might vary depending on the lender and the country you're in. Here are few points to keep in mind before Applying Gold Loan:

  • Choose a Lender:  Research and choose a reputable lender that offers gold loans. This could be a bank, a financial institution, or a specialized gold loan company.
  • Check Eligibility:  Review the eligibility criteria set by the lender. Typically, you'll need to be of a certain age and own gold jewelry that meets the lender's criteria.
  • Visit the Branch or Website: You can either visit the nearest branch of the lender or apply online through their official website or mobile app, if available.
  • Gold Evaluation: If applying in person, bring the gold you want to pledge as collateral to the lender's branch. They will evaluate the gold's purity, weight, and value to determine the loan amount you're eligible for. If applying online, you might need to visit the branch for this step. These days few fintech comapnies offer this service at customer’s doorstep as well.

Gold Loan EMI Calculator

How is  Gold Loan EMI Calculated?

Gold Loan EMI (Equated Monthly Installment) is calculated using the following Compound Interest formula:

EMI = [P * r * (1 + r)^n] / [(1 + r)^n - 1]

Where:

EMI = Equated Monthly Installment

P = Gold Loan principal amount

r = Monthly interest rate (Annual interest rate divided by 12, expressed as a decimal)

n = Gold Loan tenure in months

Fees and Charges for Gold Loan

The fees and charges of gold loans usually vary from lender to lender and from case to case. The aforementioned table will give you a fair idea of the fees and charges related to gold loans:

Particulars
Charges
Loan Processing Fees
0.5% to 4% of loan amount
Loan Cancellation
Usually around Rs 3,000
Stamp Duty Charges
As per actuals
Legal Fees
As per actuals
Penal Charges
Usually @ 2% per month; 24% p.a.
EMI/Cheque Bounce
Around Rs 400 per bounce

Gold Loan Reviews

4/5

I went to Ruloans Andheri East branch and the employee who works are very friendly.They have sanctioned the Gold loan within couple of hours. The interest rates are very less as like Government rules. Its a timely and the service is really good. I had a good experience.

JEET RAIKAR

4/5

Ruloans helped me in getting an instant gold loan. With all my Kyc documents in order I went to HDFC Bank to deposit my gold and receive an instant disbursal. Great work by Ruloans. I received a loan at 3% and one thing to keep in mind is that your gold should be more than 18 carats.

HEMANSHI VERNEKAR

4/5

Through ruloans, I have taken a gold loan with HDFC in 4% rate of interest. Acknowledgement card would be provided with all the payment details and I get SMS alerts for renewal. Yearly once complete payment can be done or by paying interest rate I can go for renewal.

KAREENA YADAV

4/5

Ruloans helped me in getting an instant gold loan. With all my Kyc documents in order I went to HDFC Bank to deposit my gold and receive an instant disbursal. Great work by Ruloans. I received a loan at 3% and one thing to keep in mind is that your gold should be more than 18 carats.

KRISH PAI

FAQs

A gold loan is a secured loan where you pledge your gold ornaments or assets as collateral to borrow money from a financial institution.

The loan amount depends on the purity and weight of the gold. Lenders usually offer around 60-75% of the gold's value as a loan.

Repayment periods are flexible, usually ranging from a few months to a few years, depending on the lender's terms.

If you can't repay, the lender will auction the gold to recover the loan amount. It's essential to communicate with the lender to explore options before this happens.

Lenders usually have secure storage facilities for the pledged gold to ensure its safety.

Charges may include processing fees, valuation fees, and in some cases, foreclosure charges or late payment fees.

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