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Rising Kashmir > Blog > Business > How to get loan against gold jewelry online?
Business

How to get loan against gold jewelry online?

RK Online Desk
Last updated: April 10, 2025 11:05 am
RK Online Desk
Published: April 10, 2025
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7 Min Read
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Taking a loan against jewelry will bring a wide array of benefits to the table. From lower interest rates to flexible repayment tenures, the list is endless. However, most people consider this credit type to be a hassle for their finances. Besides, there can be problems with your loan application’s approval. Most lenders run detailed scrutiny on the applications to assess the financial risks involved. If any dispute is found, they will straightaway reject the same. That being said, we have presented here a detailed guide on the ways to acquire a loan against gold jewelry. With this, you no longer have to worry about shooting the arrow in the dark with mere anticipations. 

Contents
What is a gold jewelry loan?Eligibility criteria for gold jewelry loanAdvantages of taking a loan against gold jewelrySteps to apply for a loan against gold jewelryChoosing the right lenderYou first need to choose the best lender to take the gold loan. For this, consider the following factors:Initiating the application for the gold loanAsset evaluationDocumentation processGetting through the loan approvalConclusion 

What is a gold jewelry loan?

A gold loan is a type of secured credit where you can get a loan based on the asset valuation. In other words, you will have to use the ornaments and jewelry made of gold as collateral to get the loan. Being a secured credit, the interest rates charged are significantly lower than an unsecured loan. If you fail to repay the loan amount, the lender will confiscate the asset as compensation for the credit. 

Eligibility criteria for gold jewelry loan

Below is the detailed eligibility criteria to get a secured loan against gold jewelry.

  1. Age: Every applicant needs to be at least 18 years of age to apply for the gold loan. Some lenders can cap the minimum age limit at 21 years of age. The upper age limit is usually capped at 65 to 70 years of age.
  2. Asset ownership: Being an applicant, you should have absolute ownership of the gold jewelry or ornament. Some lenders do accept gold coins apart from regular jewelry. However, gold bars are strictly prohibited. 
  3. Gold purity: Lenders usually accept gold jewelry having a purity ranging between 18K and 24K. The higher the purity, the better the market valuation and, hence the allowable loan amount. 
  4. Employment: Salaried, business people, self-employed, and even farmers can apply for a loan against gold jewelry. No additional income proof will be needed since collateral is involved. 

Advantages of taking a loan against gold jewelry

  1. Gold loans do not require too much processing time due to the involvement of collateral. Most lenders approve the loan application quickly, within a couple of days only. 
  2. You won’t have to maintain a high credit score to become eligible for gold loans. An average CIBIL of 650 to 750 will automatically work in your favor. 
  3. Some lenders also offer a doorstep gold loan facility. Here, a representative will visit your house to evaluate your assets and run the loan processing cycle. With this, you will have more convenience and enjoy faster disbursement. 
  4. Since a gold loan is a secured loan, interest rates are quite lower than a personal or any other type of unsecured credit. Most lenders offer an interest rate between 7% and 15% annually, depending on different variables.
  5. As per the RBI guidelines, you can get a maximum loan amount equivalent to 75% of the current gold valuation. This will help you acquire a higher loan-to-value ratio with ease. 
  6. You can also choose a flexible repayment option for the gold loan. For instance, you can opt for a monthly EMI basis or an interest-first repayment option. This will help you manage your cash flows better. 
  7. Lenders use vaults with insurance cover to store the gold jewelry or other gold-based assets given as collateral. This greatly reduces the risks of theft and misplacement. 

Steps to apply for a loan against gold jewelry

Choosing the right lender

You first need to choose the best lender to take the gold loan. For this, consider the following factors:

  1. Interest rates offered
  2. Loan-to-value ratio
  3. Repayment flexibility
  4. Guarantee of asset protection

Initiating the application for the gold loan

Applying for the gold loan can be done in either of these two ways:

  1. Online application: You need to fill out the application form and submit the same with all the documents on the online portal of the concerned lender. 
  2. Physical application: Some lenders also offer the option of a doorstep gold loan where the representative will visit your place to run the application process.

Asset evaluation

Appraisers will evaluate the current market valuation of your gold jewelry based on the total weight and purity. The estimated valuation serves as the base for calculating the loan amount applicable against the assets. 

Documentation process

You need to gather all the necessary documents and submit them along with your loan application. These will include ID and address proof, jewelry ownership proof, purity certificate, purchase bill, and so on. 

Getting through the loan approval

Once you apply, the lender will process the application and verify all the details mentioned. If it gets approved, you will be handed over the terms and conditions, and the loan amount will be disbursed.

Conclusion 

With this detailed discussion, you no longer have to worry about getting a loan against gold jewelry. All you have to ensure is you pick the right lender and choose the proper repayment option. This will help you secure a credit with a lower interest rate without any hassle. 

 

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