Get highest per gram rate with Shriram Gold Loan
Interest Rates Now Starting Only at 10%*
Quick Loan Disbursal
Flexible Repayment options
No Credit Check Required
Todays Max lending rate:
Gold Loan
A gold loan is a type of secured loan that lets you pledge your gold assets as collateral to borrow funds against them. Shriram Finance offers a seamless and transparent gold loan process that helps you access credit quickly while also keeping your gold safe. What makes gold loans appealing is the fact that borrowers retain ownership of their gold while securing funds against them. Once the loan is repaid in full, you can reclaim your gold articles.
Unlike most unsecured loans, gold loans usually come with lower interest rates as these loans are backed by your gold assets. A gold loan from Shriram Finance starts at just 10%* p.a. with flexible tenure options ranging from one to 12 months. This, and a host of other benefits, make Shriram Gold Loan a great choice for a variety of financial requirements, like wedding, education, medical treatment, etc.
Apply for gold loan today at low interest rates and minimal documentation to meet all your short or long-term funding needs.
Gold Loan Features and Benefits
High Financing Limits
You can borrow up to 75%* of your gold assets’ which ensures you have maximum funds at your disposal to manage most types of financing needs.
Competitive Interest Rates
Rates for Shriram Gold Loan start at only 10%* p.a., making EMIs easy on your pockets and helping you manage them comfortably.
Flexible Tenure Options
You can choose repayment tenures from 1 to 12 months, catering to both short-term and long-term needs.
Minimal Documentation
At Shriram Finance, we keep our documentation to a minimum so that you don’t spend much time filling in paperwork and get the funds credited to you soon.
Smart Borrowing
You can save up on the total cost of the loan by paying interest only for the tenure the gold is used for.
Quick Approval
Approval for Shriram Gold Loan is usually quick, and once approved, the funds are credited to your bank account almost instantly or within a few hours.
Eligibility Criteria
Take a look at the eligibility criteria that you need to meet to get quickly approved for Shriram Gold Loan:
Age
18 (at the time of application) to 75 (at the time of loan closure)
Who can Apply?
Salaried, self-employed, business owners, homemakers, and any other individual with gold assets that can be pledged
Documents Required
Remember to keep these documents handy before applying for a gold loan so that the loan can be approved without any delays:
Identity Proof
- Aadhaar Card (Mandatory)
- Voter ID
- PAN (Mandatory)
- Driving Licence
- Passport
Address Proof (Any One Mandatory)
- Utility bills like water bill, gas bill, etc.
- Aadhaar Card
- Passport
- Driving Licence
- Voter ID
Please note that the eligibility criteria and documents required may change as per Shriram Finance’s internal policies. Kindly reach out to us for the most updated information.
How to Use Gold as Collateral for a Loan
- Using gold as collateral for a loan with Shriram Finance is a hassle-free approach to accessing quick funds through a secured loan. When you pledge your gold for a loan, the gold asset is thoroughly checked for purity and weight. This helps calculate the loan amount based on the prevailing loan-to-value ratio.
- As one of the best gold loan providers in the market, Shriram Gold Loan offers flexible repayment options designed to meet individual financial needs. Whether choosing to apply for gold loan online or opting for an instant gold loan, customers can benefit from quick loan approval and a shorter disbursal time.
- Unlike unsecured loans, a secured loan backed by gold provides much lower interest rates, making for customers looking for low interest options and those who need a loan without income proof.
- Using loan against gold combines the security of a collateral loan with flexible repayment options, fast loan processing and affordable interest rates. This makes gold loans one of the best financial solutions for short-term needs and addresses emergency loan options effectively.
Gold Loan Interest Rates and Charges
To be able to negotiate a fair deal on your gold loan, like low interest rates and favourable loan terms, it is important to be aware of the interest rates and charges associated with Shriram Gold Loan. On that note, here are the most important rates and fees you need to remember before applying for a gold loan online with us:
| Types of Fees | Applicable Charges |
|---|---|
| Interest Rate | Starting at 10%* p.a. |
| Processing Fee | Capped at 5%* |
| Foreclosure Charges | - |
| Auction Charges | Up to ₹3,500 |
| Bank Charges (per instance of cheque bounce) | Up to ₹1,000 |
| Documentation Charges | Up to ₹3,000 |
Please note that the rates and charges on Shriram Gold Loan depend on several market conditions and are subject to change. Please refer to the Interest Rate Policy document for the most updated information.
How to Use the Gold Loan Calculator to Estimate EMIs
Using the online gold loan EMI calculator from Shriram Finance is simple, quick and hassle-free. Follow the steps below to work out your EMIs and the total interest payable in seconds:
Enter your desired loan amount. This amount should ideally be between ₹5,000 to ₹40,00,000.
Put in the interest rate, between 10%* to 30%* p.a.
Finally, choose the loan tenure between 1 to 12 months.
Once you feed in these inputs into the calculator, this handy tool will calculate your EMIs and the total interest that you would have to pay over the loan tenure. To figure out the loan scenario that works the best for you, try playing around with different loan amounts, interest rates and loan tenures.
Loan Details
Kindly enter the loan amount or gold weight you want to pledge.
0.61 gms
You are required to pledge at least a net weight of 0.61 grams of Gold for a loan amount of
₹ 5,000
*Loan amount calculated at
₹ 8,402/ gm for 22K
The loan amount calculated is a rough estimate only. Our trained executives will manually determine the actual value when they examine the gold and its purity physically.
Things to Consider Before Taking a Gold Loan
It is essential to consider a few factors before applying for a gold loan online from Shriram Finance to be able to borrow smart and manage your EMIs effectively. Some of the factors are discussed below:
Check for the Best Loan Scenario
Use the Shriram Gold Loan EMI Calculator to play around with different loan amounts, rates and terms. This can help you understand how much you would have to pay in EMIs and total interest, and how much you will end up saving, and pick a scenario that aligns with your financial situation.
Be Aware of All the Charges
Though Shriram Finance is transparent about all the rates and charges, it is advisable to read the fine print of the loan agreement yourself before signing on the dotted line. This not only helps you be aware of the rates and charges, but also any other loan clause or conditions.
Assess Your Repayment Capacity
Choose a loan amount that you know you can comfortably repay. This helps you plan your finances well and reduces any risk of defaults. This further helps you reclaim your gold assets on time.
Meet the Eligibility
Use the Shriram Gold Loan Eligibility Calculator to check how much loan amount you qualify for. You can then plan how much gold you need to pledge accordingly and maximise the benefits of Shriram Gold Loan.
How to Apply for a Gold Loan
You can apply for gold loan from Shriram Finance in a simple and straightforward manner. Follow these steps to get started on your gold journey with Shriram Finance seamlessly:
Step 01
Begin by registering your mobile number on Shriram Finance’s website or the Shriram One app.Step 02
Wait for a verification call from one of our loan executives, which is usually quick.Step 03
Visit the Shriram Finance branch closest to you to get your gold articles appraised.Step 04
Complete the verification process and receive the funds quickly.
FAQs
How is the loan amount determined?
The gold loan amount that you would be eligible for from Shriram Finance can be determined using the Shriram Gold Loan Eligibility Calculator. All you need to do is enter the weight and purity of your gold assets and instantly get an estimate of the loan amount you would qualify for.
What types of gold are accepted for a gold loan?
Gold jewellery and ornaments with a purity of 18Kt to 22Kt are usually more easily approved for a gold loan. Gemstones and diamonds are usually not considered for the loan amount calculation.
Who is eligible to apply for a gold loan?
Any Indian citizen between 18 and 75 years of age is eligible for a gold loan with Shriram Finance. The applicant must also be able to provide valid identity and address proof.
What documents are required to apply for a gold loan?
Identity proof like PAN, Voter ID, Aadhaar Card, Passport, Driving Licence and address proof like utility bills (water, gas, phone bills), Aadhaar Card, Voter ID Card, and Passport are usually the only documents necessary for a gold loan from Shriram Finance.
How long does it take to get a gold loan?
The loan approval process for Shriram Gold Loan is usually quick. Once your gold is appraised and everything is verified, your loan will be approved, with disbursal of funds commencing soon after.
What is the typical tenure of a gold loan?
The tenure for Shriram Gold Loan ranges from 1 to 12 months, helping you choose a term according to your convenience and flexibility.
What are the interest rates and charges applicable on a gold loan?
The interest rate for Shriram Gold Loan starts at 10%* p.a., with a processing fee of up to 5%*. For a more detailed breakdown of the interest rates and charges, refer to Shriram Finance’s Interest Rate Policy document or call customer care.
Can I prepay or foreclose my gold loan? Are there any charges?
Yes, absolutely. You can prepay or foreclose Shriram Gold Loan any time after 7 days from loan disbursal. Shriram Finance does not levy any extra prepayment or foreclosure charges for the process.
What happens if I default on repaying the gold loan?
If you default on prepaying the gold loan, your credit score will be impacted negatively. Severe and recurrent instances of default can also lead to Shriram Finance auctioning your gold assets to recover the outstanding loan amount.
What is the Loan-to-Value (LTV) Ratio in a gold loan?
The LTV for Shriram Gold Loan is 75%* of the market value of the gold.
Why Shriram Finance Is The Best Financial Partner For Your Gold Loan Requirement
45+Years of Trust
90 Lakhs+Satisfied Customer
3500+Branches Nationwide
25,000Committed Employees
Low Processing Charges & Quick Loan Disbursals on Gold Loan
