Gold Loan in India – Apply for Loan Against Gold in India at Best Interest Rate | eJOHRI
apply for

Gold Loan



Gold loan in India

Even if you’ve mastered the art of financial planning, you could have to deal with a financial emergency. You might need an influx of cash to keep your business afloat, or money to pay for a medical emergency. In these situations, you should certainly apply for gold loan in India online. Gold loans are fast, easy, and safe. Plus, it prevents you from selling your valuable gold jewellery which might have been in your family for generations. Instead, you can give the bank your prized possessions for a little while, and then get them back when you’ve repaid the loan.

Gold loan in cities in India

No matter where you reside in India, you’re always close to a gold loan opportunity. You can get this type of loan in 4000+ cities in India. From major metropolitan cities such as New Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru to other large cities like Chandigarh, Pune, Guwahati, Kochi, Bhopal, eJOHRI can help you get a gold loan wherever you live. Another benefit of this platform is that you can acquire this loan amount even if you live in small towns like Nashik, Trichy, Jamnagar, and more. This is possible because eJOHRI allows you to apply for gold loans online. Go to the eJOHRI website and fill in basic details like name, location, contact details and loan amount to access instant gold loans, no matter the city you live in.

No matter where you reside in India, you’re always close to a gold loan opportunity. You can get this type of loan in 4000+ cities in India. From major metropolitan cities such as New Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru to other large cities like Chandigarh, Pune, Guwahati, Kochi, Bhopal, eJOHRI can help you get a gold loan wherever you live. Another benefit of this platform is that you can acquire this loan amount even if you live in small towns like Nashik, Trichy, Jamnagar, and more. This is possible because eJOHRI allows you to apply for gold loans online. Go to the eJOHRI website and fill in basic details like name, location, contact details and loan amount to access instant gold loans, no matter the city you live in.

Eligibility criteria for gold loan

So, who exactly can apply for gold loan in India? Almost anyone who needs quick cash can go ahead and take advantage of this financial instrument. Here are a few conditions you have to meet in order to get a loan against gold:

  • Age: 18 and above
  • Location: Must reside in India
  • Profession: Salaried, business owners, freelancers, unemployed, self-employed, students, homemakers, pensioners, and senior citizens.
  • Type of gold: Gold jewellery should be above 18 KT and a minimum of 10 grams. Gemstones attached to the ornaments aren’t considered while weighing.
  • Minimum credit score: Not required

Features and benefits of gold loan

Getting an online gold loan in India is a customer-centric process. eJOHRI gold loans makes it very easy for you to get a loan. You can the gold loan amount in just a few hours. Here are the benefits of this short-term financial solution:

  • The loan amount is based on the weight and quality of gold jewellery that you give to the bank.
  • Most banks and NBFCs such as HDFC, Fincare, offer a maximum LTV of 75%. That means you can get an amount that is 75% of the total value of gold based on the recent values.
  • Gold loan interest rates are lower than that of a regular business loan. Some banks offer attractive interest rates ranging from 1% to 10%.
  • Since it’s a secured loan with reliable collateral, the documentation required doesn’t include tax returns, proof of income.
  • Even if your credit score is very low, you can apply for gold loan in India online.
  • Repaying a gold loan on time allows you to improve your CIBIL score, so you are eligible for other regular loans.
  • The collateral you pledge to a bank is kept in high security lockers and vaults and you get the ornaments back in pristine condition.
  • The loan tenure can range anywhere from 1-2 months to two years. In some cases, you can pay back the loan much sooner without having to pay a penalty.
  • There are no hidden charges in a gold loan. It is a transparent process and all the fees and penalties will be clearly mentioned.
  • Most institutions charge a minimal processing fee and valuation fees.

How to apply for gold loan in India online?

Before you apply for a gold loan, make sure you have these documents in place, so that your loan gets processed swiftly.
Here is a list of documents you’ll need:

  • Address proof documentation (any one of the following): passport, driving license, ration card, or voting card.
  • Identity proof documentation (any one of the following): pan card or form 60, Aadhar card, voting card, or driving license.

Note: You don’t require salary slips or tax information.

Once you have gathered the address and ID proofs, it’s time to get an online gold loan in India at eJOHRI. Fortunately, the application process just requires a few minutes of your time. Here’s how you can apply for it:

  • Visit the eJOHRI gold loans website and fill in your name, contact details, location, loan amount in the application box.
  • Our representatives will contact you to enquire about your gold ornaments, interest rate preference and bank of choice.
  • Depending on your preferences, the bank’s representative will call you to take the process forward
  • After your documents and gold are evaluated by the respective bank, the money will be credit to your savings account.

You can use the eJOHRI gold loan calculator to check the amount of cash you can get against your gold. All you need to do is enter the weight of your gold ornaments. The value of your gold ornaments in rupees will be displayed.

Repayment period for gold loan

As mentioned earlier, when you apply for gold loan in India online you get a quick short-term loan. Different banks have different repayment periods.
Here are some common loan tenures offered:

  • 3 months
  • 6 months
  • 12 months
  • 24 months

When it comes to repaying the loan, our partner institutions offer a lot of flexibility. You can pay a monthly EMI, or pay the entire principal amount plus interest at the end of the loan, or pay only the interest as EMI every month and the principal can be given at the end of the repayment period. Different banks offer different repayment options. Opt for one that suits your needs best. You can use the EMI calculator on the eJOHRI gold loans website to check the loan duration and EMI amount that will work for you.

What is the maximum amount of gold loan I can get?

The amount of loan you can get depends on the weight and quality of the gold jewellery you’re pledging. However, the maximum loan amount is decided by banks and financial institutions. Banks and NBFCs may have specialized plans that offer a variety of amounts. For example, Fincare small finance bank has a cap of 30 lakhs. Meanwhile, Muthoot and Mangal finance allow you to get an online gold loan in India worth 50 lakhs. There are also institutions offers smaller loans of 5 lakhs or less.

Frequently Asked Questions (FAQs)

This tool lets you figure out how much you need to pay every month in order to repay the loan in full. To get your EMI calculation, you will have to input details like loan amount, tenure and interest rate.

Some banks will let you use credit cards as a method of repayment, but not all. It’s always good to ask this question to the loan provider before availing of the gold loan.

Repaying a gold loan is as easy as it is getting it. Some banks allow you to pay your loan through NEFT transfer, a debit card, or a credit card. You can even download the bank’s app, sign in, and pay your instalments regularly in just a few minutes. If you like to do things the old-fashioned way, you can visit any of the bank branches in your city and personally deposit the cash or a dated cheque.