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Documents Required for Gold Loan

Jewel Loan Documents

Last Updated 11th May 2021

  • A gold loan can be availed without any income proof.
  • To avail a gold loan, you need to submit documents for identity and address proof.
  • For identity proof, you can provide a copy of PAN Card/ Aadhaar Card/ Voter’s ID Card/ Passport Copy.
  • Rent agreement/ Passport/ Driving License/ Utility Bills/ Aadhaar Card/ Voter’s ID Card can be used as address proof.
  • Most of the institutions may also ask for Photo identity proofs for availing a gold loan.

Video: Gold Loan Benefits, Eligibility, Documents & Process

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Gold Loan Documents

A gold loan is a secured loan that you can avail by mortgaging your gold ornaments. Unlike other loans, you can easily avail a gold loan at low-interest rates based on the value of gold and loan amount. Banks and NBFCs provide gold loans without obligations of any income or salary proof with documents for identity and address proof. Besides that, you also do not need to have a good CIBIL or credit score for getting a gold loan. It is easy to get a gold loan with minimal documents as it is a valuable asset and can be easily auctioned by the banks to clear dues in case of default of payments on loans.

Documents Required for Gold Loan 2020

You can avail a gold loan by submitting the following documents to the banks or NBFC.

  • Identity Proof: PAN Card/ Aadhaar Card/ Voter’s ID Card/ Passport Copy
  • Address Proof: Rent agreement/ Passport/ Driving License/ Utility Bills/ Aadhaar Card/ Voter’s ID Card
  • Photo identity proofs
  • Passport size photographs

FAQs

Do I need to provide any income documents for a gold loan?

To avail a gold loan, you don't need to submit any document for income or salary proof as banks and non-financial institutions provide gold loans with minimal documents for identity and address proof.

Do I need to be an existing customer of the bank to avail a gold loan?

The borrower does not need to be an existing customer with the bank to get a gold loan. Gold loans are provided against the mortgage of the gold. However, if you apply for the gold loan with the existing bank, you can easily negotiate about the interest rates based on your relationship with the bank.

What are the requirements for a gold loan?

To avail a gold loan, you will need to submit the essential documents such as PAN card/ passport/ Aadhaar card/ voter id card and utility bills for identity and address proof. Besides, having the essential documents and the gold asset you need to fulfill the basic eligibility criteria of the banks to grant a loan related to age, profession, the value of gold etc.


Gold Loan News - May 2021
  • 2021-04-30 : PNB Housing Finance posted ₹127-cr net profit in Q4
    PNB Housing Finance reported a consolidated net profit of Rs 127 crore in Q4 backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with deposits which include fixed and recurring deposits. Total income during January-March was down at Rs 1,834 crore from Rs 1,952 crore in the same period of 2019-20. Interest income dropped over 7% at Rs 1,670 crore during the quarter as against Rs 1,803 crore a year earlier.
  • 2021-04-30 : Bajaj Finserv reported a Q4 profit of ₹979 crore
    Bajaj Finserv posted a net profit of ₹ 979 crores in the January-March quarter, which marked an increase of 5 times from the profit of ₹ 194 crores during the same quarter last year. The NBFC reported the surge in profit backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with business and mudra loan.
  • 2021-04-30 : AU Small Finance Bank Q4 net profit up 38 per cent at Rs 169 cr
    AU Small Finance Bank reported a 38% hike in its net profit at Rs 168.98 crore for the last quarter of the fiscal ended March 2021. The profit was boosted by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with deposits which include fixed and recurring deposits. Total income during Q4 FY21 rose to Rs 1,569 crore as against Rs 1,366.60 crore. Interest income moved up to Rs 1,292.37 crore during the reported quarter from Rs 1,183.45 crore in the year-ago period.
  • 2021-04-27 : Bank credit increased by 5.33%; deposit rose 10.94%
    Reserve Bank of India reported that Bank credit which includes retail loans like home, LAP, personal, two-wheeler, car, education and doctor loan along with business and mudra loan grew by 5.33% to Rs 108.89 lakh crore. Further deposits which include fixed and recurring deposits rose 10.94% to Rs 152.15 lakh crore.
  • 2021-04-27 : ICICI Bank reported a massive hike of 261% in its Q4 profits
    ICICI Bank reported a 260% jump in its net profit at Rs 4,403 crore for the quarter ended March 31, 2021. The profit was boosted by retail loans like home, LAP, personal, two-wheeler, car, education and doctor loan along with business and mudra loan. Further, the bank reported a total income of Rs 23,953 crore in January-March from Rs 23,443.66 crore in the year-ago quarter.
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