Can joint ownership of gold affect eligibility and loan disbursal?

When gold is jointly owned, lenders handle the gold loan a little differently. They’ll usually ask every owner to either sign the form together or give written consent allowing one borrower to take the gold loan in their name. It’s mostly to avoid confusion later during repayment or while collecting the jewellery back.

During assessment:

• Each person completes KYC, using Aadhaar, PAN, or any valid ID proof.
• The gold loan amount and repayment plan are recorded jointly, with all names noted in the file.
• Lenders often prefer everyone to visit once, so the consent and paperwork are done together for the gold loan.

At disbursal and closure:

• The gold loan is sanctioned in all names, and repayments show under one linked account.
• After full payment, gold is returned only after each borrower signs the closure form.

In most branches, the whole process of gold loan approval stays simple if co-owners visit together with documents ready and identification proofs in order.