Is there a minimum or maximum age limit for Gold Loan eligibility?

Gold loans do not usually have a defined minimum age limit for eligibility, with most banks and NBFCs providing loans to individuals above 18 years of age. Some gold loan providers may have a higher minimum age limit of 21 or 22, especially for larger loans.

Most loan providers can increase the maximum age limit for gold loans to 75. The key eligibility factor for senior citizens is having a steady income source and stability in repayment patterns despite advancing age. Joint applications also help retirees or senior citizens get approved more easily.

Gold loans are now accessible to both young adults and senior citizens, depending on their financial strength. The upper age limit is not rigid and can be extended on a case-to-case basis by assessing the applicant's repayment ability. Lenders aim to ensure comfortable repayment without putting older borrowers under duress.