Skip to content
What are the documents required for gold loan

What are the documents required for gold loan

What are the documents required for gold loan

A loan against gold is one of the secured loan opportunities where the borrower can get money against their gold jewellery. It can be widely availed at different financial institutions and privately-owned gold loan providers across the country.

Interestingly, anyone can get a loan against their gold ornaments, irrespective of their income or salary or even their CIBIL score. As such, there are no gold loan eligibility criteria to get one. A borrower can get sanctioned a loan amount based on minimal documents required for pledged jewel such as the:

1. Identity Proof

  1. Aadhar Card
  2. PAN Card
  3. Valid Driving License
  4. Valid Passport
  5. Voter's ID Card
  6. Job Card issued by NREGA

2. Address Proof

  1. Aadhar Card
  2. Driving License
  3. Valid Passport
  4. Voter's ID Card
  5. Job Card issued by NREGA

3. Photo Identity Proof

4. Passport size photographs

What are these gold loan documents required? And Why are they needed?

Aadhar Card

Aadhaar Card is a unique combination of 12-digit identification numbers that have been given by the Unique Identification Authority of India (UIDAI) to each Indian citizen. The number is connected to the occupant's permanent address and biometric data like a photo, ten fingerprints, and iris recognition. An Aadhar Card is more than a paper or proof of the identity and location of an individual.

PAN Card

PAN or a Permanent Account Number is a ten-digit number in a combination of letters and alphabets that is provided by the annual duty office to every one of the Indian citizens. Through a PAN aide, the government monitors the financial activities of the card holder, as it is essential to all kinds of transactions. Your PAN card contains data like your PAN number, Name, DOB, and address.

Driving License

In India, a driving permit is an authority approval that allows its holder to operate different sorts of vehicles within the country. In different Indian states, they are regulated by the Regional Transport Authorities/Offices (RTA/RTO). A driving permit is needed in India by any individual driving a vehicle on any road characterized in the Motor Vehicles Act, 1988.


Your passport is your travel document, ordinarily given by the country's administration to its residents, that ensures their citizenship principally with the end goal of travel. Standard passports contain data like the holder's name, address, and date of birth, photo, signature, and other critical recognizing data.

Voter's ID Card

The Indian voter's ID card is an identity card given by the Election Commission of India to adult citizens of India who are 18 or above, which is essentially an age certification for Indian residents to be able to vote. An electoral card allows the holder to cast a vote in the country's municipal, state, and nation-wide elections.

Job Card gave by NREGA

NREGA Job Card or NREGA JC is the essential record that recognizes a person who is enrolled with the domestic Gram Panchayat under this plan. Being a character card cum work allowance card, it contains subtleties of the NREGA-enlisted individual (like name, NREGA enrollment number, subtleties of candidates in the family, and so forth) and furthermore fills in as narrative evidence of the worker's qualifications. A NREGA work card permits the holder in a rural neighborhood to apply for paid work with the Gram Panchayat in their neighborhood and shields workers from conceivable misrepresentation.

Once you have procured all the documents, you are required to submit attested copies of these at the nearest gold loan facility to begin the gold loan application process.

Here are five Gold Loan features and benefits that you must consider:

1. It is one of the fastest ways to arrange funds in emergency situations. Basically, it requires minimal paperwork, and the process is straightforward. The applicant must be ready with the above-mentioned documents to be able to qualify for a gold loan.

2. The repayment schedule for a gold loan is as per the convenience of the applicant. It can be paid in more than one way, and the lending organizations could even give the opportunity to repay the loan amount as soon as possible (maybe within 24 hours of borrowing).

3. Since the loan amount depends on the quantity of the gold securities, the loan amount could be any, ranging from Rs.2,000 to Rs.2,00,000. This is one of the common reasons why applicants prefer taking gold loans above other short term-high interest rate credit options.

4. Interest on gold loans is comparatively lesser than that of a personal loan or a home loan from a financial institution.

5. Often considered as true, but is a myth that the gold securities once traded for money can be a risky business for the borrower. The lending institutions, on the other hand, authorize your transaction and promise to keep your securities safe.


1. Would I be able to repay the loan earlier? Are there any repayment charges?

Indeed, you can repay the advance anytime that you have funds available with you. Most lending organizations don't demand repayment charges for gold loans, yet a couple of loan specialists charge between 2-4% of the principal amount. You can contact your chosen moneylender to know the process they follow.

2. What are the tenure options for which I can take the loan?

Gold loans are temporary loans and have an agreeable tenure that ranges from a month to 5 years or more, relying upon the lender.

3. What is the best advice for a first-time borrower?

Since gold loans are given against your gold ornaments, you ought to be cautious about the loan amount repayment and should only take the sum that you require and can repay comfortably. Defaulting on an advance amount for your gold loan can influence your FICO assessment, further impacting your future loan applications.

4. What happens if I can't pay my EMI by the due date?

Action against payment default varies from one lender to another. A few banks charge late payment fees on an everyday basis, which is typically higher than the rate a borrower pays for the advance in total. Non-payment of installment for the longest time could likewise prompt moneylenders to auction your gold securities to recover their sum.

Shriram Finance is one of India's leading gold loan providers with an interest rate as low as 11.5% per annum. Shriram Finance gold loans come with no additional charges and no extra hidden cost, making it a compelling choice for the emergency funds. The organization has a positive track record of offering the best value against your gold securities. So, monetize your gold jewellery, and be rest assured as Shriram Finance also pledges to keep your property secured and insured.

Get a gold loan at low interest rates