Gold loan is a type of secured loan i.e. the loan is offered against collateral in the form of various types of gold jewellery or gold coins. You have to deposit your gold with the lender i.e. NBFC or bank and you get the deposited gold ornaments or coins back only after you have paid back the loan amount in full including interest. Gold loan business, being secure, features short processing times, a low interest rate and short to medium term tenure.
Proof of individual’s identity (We also require same KYC of co-applicant)