Gold Loan in India 2026 — Interest Rates, Best Banks & Apply Online
Gold loan India 2026: Muthoot Finance, Manappuram, SBI, HDFC, ICICI gold loan rates compared. ₹1,500/gram loan amount, 8–26% interest, instant disbursal, apply online.
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Gold Loan in India 2026 — Interest Rates, Best Banks & How to Apply
Gold loan is India's fastest emergency credit option — disbursal in as little as 30 minutes, no income proof required, no CIBIL score check, and repay only when convenient. With gold prices at record highs (₹7,500–₹8,500/gram in 2026), a 100-gram gold jewellery can unlock ₹5–7 lakh in liquidity instantly.
Gold Loan — Quick Facts 2026
| Feature | Details |
|---|---|
| Loan Against | Gold jewellery (18–22K), gold coins (up to 50g), gold bars |
| LTV Ratio | Up to 75% of gold value (RBI limit) |
| Interest Rate | 8%–26% per annum |
| Tenure | 3 months to 3 years |
| Minimum Loan | ₹1,000–₹3,000 (varies by lender) |
| Maximum Loan | No upper limit (depends on gold pledged) |
| Disbursal | 30 minutes to 4 hours |
| CIBIL Score Required | No |
| Income Proof Required | No |
Gold Loan Rate Per Gram (2026)
Gold loan amount depends on: Gold purity × Weight × Gold price × LTV (max 75%)
| Gold Purity | Approx Loan per Gram (2026) |
|---|---|
| 22 Karat (916) | ₹5,500–₹6,500/gram |
| 20 Karat | ₹5,000–₹6,000/gram |
| 18 Karat (750) | ₹4,500–₹5,500/gram |
Rates vary with daily gold price and lender's LTV policy.
Example: 50 grams 22K gold at ₹7,500/gram value:
- 75% LTV × 50g × ₹7,500 = ₹2,81,250 loan amount
Gold Loan Interest Rate Comparison 2026
| Lender | Interest Rate (p.a.) | Max LTV | Processing Fee |
|---|---|---|---|
| Muthoot Finance | 12%–26% | 75% | ₹0–1% |
| Manappuram Finance | 14%–29% | 75% | ₹0–1% |
| IIFL Finance | 11%–18% | 75% | ₹250–₹1,000 |
| SBI Gold Loan | 8.75%–10% | 75% | 0.5% (min ₹500) |
| HDFC Bank Gold Loan | 10%–16% | 75% | 1% |
| ICICI Bank Gold Loan | 11%–17% | 75% | 1% |
| Axis Bank Gold Loan | 12%–17.5% | 75% | 1% |
| Kotak Gold Loan | 10%–17% | 75% | 1% |
Rates as of May 2026. Final rate depends on loan amount, tenure, and gold purity.
Best Gold Loan Options — When to Choose What
For Lowest Interest Rate: SBI Gold Loan
SBI Gold Loan: 8.75%–10% — lowest in the market for gold loans against 22K jewellery.
Requirements:
- SBI account holder preferred
- 50+ grams preferred for branch gold loans
- Tenure up to 3 years
- Best for: Farmers (SBI offers agricultural gold loans at concessional rates), salary earners who want lowest EMI
For Instant Cash in 30 Minutes: Muthoot/Manappuram
- 4,000+ branches across India
- No paperwork hassle — just walk in with gold + Aadhaar
- Rate is higher (12%–26%) but speed is unmatched
- Best for: Emergency situations, no bank account required, rural areas
For Online Apply + Doorstep: IIFL Gold Loan
- IIFL offers doorstep gold loan appraisal
- Digital process — apply online, appraiser visits home
- Loan in account within 2 hours of appraisal
- Competitive rates at 11%–18%
How to Apply for Gold Loan — Step by Step
Online (IIFL, Muthoot, SBI)
- Visit lender's website or app
- Click "Apply Gold Loan"
- Fill: Name, mobile, city, loan amount needed
- IIFL: Appraiser visits your home
- Muthoot/Manappuram: Visit nearest branch
- SBI: Online application → Visit branch with gold
At Branch (Muthoot, Manappuram, SBI)
- Walk into nearest branch with your gold jewellery
- Carry: Aadhaar, PAN, 2 passport photos
- Gold appraised on the spot (assayer checks purity and weight)
- Loan amount offered based on appraisal
- Sign agreement + KYC documents
- Cash/NEFT within 30 minutes to 2 hours
Documents Required
| Document | Required |
|---|---|
| Aadhaar Card | Yes (identity + address) |
| PAN Card | Yes (mandatory) |
| 2 Passport-size photos | Yes |
| Gold jewellery (original) | Yes |
| KYC form | Yes (filled at branch) |
No income proof, no ITR, no payslip required.
Repayment Options
| Option | How It Works | Best For |
|---|---|---|
| Bullet repayment | Pay entire loan + interest at end of tenure | Short-term cash need, confident of lump sum |
| EMI (Monthly) | Fixed monthly principal + interest | Salaried with regular income |
| Partial payment | Pay interest monthly, principal at end | Businessmen with irregular income |
| Overdraft | Pay interest only when you use the loan | Revolving credit need |
Important Points — Risks
- Non-repayment = auction of gold — If you don't repay, the lender auctioned gold after notice period. You get nothing beyond auction proceeds
- Interest can add up fast — 26% p.a. means ₹1 lakh becomes ₹1.26 lakh in a year
- Gold is physical asset — safe in lender's vault but confirm insurance + security
- Weight loss in appraisal — some lenders account for "wastage" in ornaments. Understand appraisal before signing
- Compare before signing — SBI's 8.75% vs Muthoot's 26% is a 17% difference. For ₹5 lakh loan, that's ₹85,000/year difference in interest
Frequently Asked Questions
Can I get a gold loan without PAN? PAN is mandatory for loans above ₹50,000. For smaller amounts, some NBFCs may allow Aadhaar-only. But practically, always carry PAN for smoother processing.
Is gold jewellery safe with gold loan lender? Lenders keep gold in secure vaults with insurance. RBI mandates all gold loan NBFCs to have adequate insurance cover. IIFL, Muthoot, Manappuram have vault-grade security.
Can I pay off gold loan early without penalty? Most lenders allow prepayment. Some charge 0%–2% prepayment penalty. Check terms before signing. SBI gold loan typically has no prepayment charges.
My gold loan tenure is ending — what happens if I can't repay? Contact the lender before due date. Most offer tenure extension (with additional interest). If you can't arrange funds, the lender will auction the gold and return any surplus to you. Don't go silent — lenders prefer to work out extensions.
Can I get a gold loan on gold coins or bars? Yes — RBI-allowed gold coins (up to 50 grams) and gold bars are accepted by most lenders. Gold coins purchased from non-bank sources may not be accepted by banks (SBI/HDFC only accept coins bought from their own bank).
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