GOLD LOAN DOCUMENTS
Gold Loan Eligibility: Who Can Apply and What You Need to Know
Learn who can apply for a gold loan, the eligibility requirements, required documents, and what lenders check before approval.
A gold loan is one of the fastest ways to raise funds in India, mainly because its eligibility criteria are far simpler than most other loans.
Who Can Apply for a Gold Loan?
- Indian resident, typically aged 18 years and above
- Ownership of gold jewellery, coins, or bars of 18K purity and above
- Valid KYC documents establishing identity and address
- No mandatory minimum income requirement in most cases
Does Income or Credit Score Matter?
Most lenders don't insist on a minimum income or a strong credit history for gold loans, since the pledged gold itself acts as collateral.
What Affects Your Loan Amount
- Purity of the gold — 22K and 24K gold fetch a higher valuation
- Weight of the gold pledged
- Current gold rate on the day of valuation
- LTV ratio — currently allowing up to 75% of the gold's value
Check your gold loan eligibility and compare live offers instantly on the FinVedik GoldBiz app.
