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Gold Loan

Gold Loan

Fulfil your needs on your own with Loan Magic Gold Loan which allows you to get funds! The Gold Loan is your definitive solution to meet your imperative financial needs. Whatever your reason may be, education, business expansion, personal requirement, medical crisis or any other specified end-use, our Loan against Gold is all you need. In volatile times and during a contingency you can take a Loan on Gold, for any use other than to purchase jewellery. Gold is a valuable asset, and with it comes surety and stability, so why not let it work for you? With minimal documentation and quick disbursal, a Gold Loan is a seamless solution. You can avail a Loan against Gold at any time. Our flexible tenure and repayment options ensure that your monthly outgoings are within your budget.


Gold Loan


Flexible Repayment

Flexible repayment options, payment of interest on a monthly basis

Attractive interest

We offer attractive interest rates on Gold Loan


After 3 months without incurring any foreclosure charges

Hassle free loans

Quick and convenient processing

Easy documentation

Easy and simple documentation

Quick approval

Get quick approvals with minimum paperwork

  • Eligibility criteria
  • Documents required
  • How to apply

What Is the Gold Loan Eligibility?

Loan Magic Gold Loans offer maximum benefit to you while keeping your gold safe. Our Gold Loan eligibility is easy to meet and it has been designed keeping your best interest in mind. Make a selection from our multiple Gold Loan schemes depending on your requirement and comfort.
Here are the basic Gold Loan eligibility guidelines when applying for a Gold Loan:

  • Minimum to maximum age to apply for Gold Loan-18 - 65 Years
  • Maximum Loan Amount-Rs 50 Lakhs
  • Purity of gold-Should be between 18-24 karat
  • LTV Ratio-Up to 75% of the value of the gold

What are the Documents Required for Getting a Gold Loan?

Types of Documents Required for Gold Loan To make the loan application process simple for your benefit, Muthoot FinCorp requires minimal documentation. Any individual, between the age of 18 - 65, possessing the following documents can avail a Gold Loan:

  • Identity Proof-PAN Card
  • Driving License
  • Passport
  • Voter's ID Card
  • Aadhar Card
  • Address Proof-Voter's ID Card
  • Aadhar Card
  • Rent Agreement
  • Utility Bills
  • Bank Statement

Below are the steps you need to follow when you apply for a Gold Loan.

  • Select A Lender : The first step in the Gold Loan process is to select your preferred lender. Ensure you choose a reputed lender who safeguards your assets and returns them at the end of the loan tenure.
  • Gold Evaluation: Once you have chosen your preferred lender, you must get your gold evaluated. Different lenders offer different evaluation options. You can visit the lender's branch for evaluation. An Assayer weighs the gold and conducts the KYC process. The lender then informs you of the loan amount you can get, the interest rate applicable on the loan, and the repayment terms. Lenders determine the gold value by taking the average of one gram gold price for one month.
  • Assess the Repayment Terms : Lenders allow you to repay only the interest component of the Gold Loan during the loan tenure. You can repay the principal amount in lumpsum once the Gold Loan tenure ends or anytime in between. This payment method is also known as bullet payment. Most lenders offer a one-year repayment period on Gold Loans.
  • Loan Amount Disbursal : Loan disbursal is the next step in the Gold Loan process. Once you agree to the proposed Gold Loan terms, the lender credits the loan amount to your bank account.
Why Us

Why we are the right fit for you

Loan Magic, a name you can trust

With the customers’ individual desires and needs in mind, our team at Loan Magic guides you at every step and offers specific financial solutions.

We offer tailor-made loans

Our personalised approach gives us the edge and has left countless of our customers satisfied. You are not just an application form to us. We understand that one size doesn’t fit all.

We offer attractive interest rates

Our interest rates are competitive and affordable. We let you tailor everything according to your convenience and ability to repay.

We’re flexible

We let you choose the loan amount, tenure, and EMI period for which you need the loan.

We Won’t Make You Run Around

We only ask for minimal documents to process GoldLoan applications. You won’t have to run from pillar to post to get your Gold Loan with us.

We’ve been in the industry for a long time

This means we understand your needs and we will tailor our services to your needs. If you look good, we look good.