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Documents Required for Gold Loan

Jewel Loan Documents

Last Updated 26th Feb 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.


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Gold Loan News - Feb 2021
  • 2021-02-26 : IRDAI gives approval for Axis Entities-Max Life Insurance deal
    The Insurance Regulatory and Development Authority of India has given its approval to acquire up to 12% stake in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities. The IRDAI approval was an important venture transaction that was first announced in April 2020
  • 2021-02-26 : IndusInd Bank to grow loan book by 15-18%
    IndusInd Bank is expecting to grow its loan portfolio by 15-18% year-on-year for the next two financial years under its fifth planning cycle.The Bank’s year-on-year growth in advances which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan was flat at Rs 2.07 trillion until December 2020. Its deposits which include fixed and recurring deposits, grew by 10% to Rs 2.39 trillion.
  • 2021-02-26 : Canara Bank organized Mega Retail Expo in Mumbai
    Canara bank organized a mega retail expo camp at Gala Auditorium, Patuck Campus in Santacruz (East). The retailers present at the expo displayed salient features of their products which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan. A total loan amount of Rs. 224.30 Crores were sanctioned through the expo.
  • 2021-02-25 : SBI offered customers to apply for the gold loan via call or SMS
    Customers can now apply for the gold loan from SBI by giving a missed call on 7208933143 or SMS GOLD at 7208933145, and the bank will then respond with a callback. A minimum loan amount of Rs 20,000 up to a maximum of Rs 50 lakh is sanctioned by the bank.
  • 2021-02-25 : Muthoot Finance Q3 profit up 17% to Rs 1,006 cr, revenue rises 16%
    Muthoot Finance has reported a net profit of Rs 1,006.6 crore during the quarter ended December 31, 2020, compared to Rs 861.04 crore a year ago. Muthoot Finance achieved a growth of 22 % in the gold loan portfolio during the nine months of the current year and likely to end the year with at least 25% growth as against the previous year growth of 22%
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