Can I apply for a Gold Loan if my gold jewellery is damaged or broken?

Yes, you can get a gold loan even if your gold jewellery is damaged or broken. Loan providers offer gold loans based on the purity and weight of gold, irrespective of the condition or design of the ornaments.

During evaluation, gold loan providers consider only the net weight and purity of gold in the items to determine the maximum loan amount. The appearance or damage of jewellery does not impact your loan eligibility or the approved loan amount.

In some cases, the financial institution may request that you repair damaged items prior to loan disbursal, especially if the pieces are too small to assess and store. Otherwise, minor damages or missing stones may not affect the loan approval or disbursal. However, it is always a good idea to check with your loan provider regarding the same.