What are the eligibility requirements for pensioners gold loan?

Gold loans allow senior citizens and pensioners to unlock the value of their idle gold assets to address immediate financial needs. Here are the key eligibility requirements for pensioners to avail a gold loan:

• Age: The minimum age requirement is typically 60 years and above, but some financial institutions set it at 65 years. The applicant must be retired and earning a regular pension.
• Gold Jewellery: The pensioner should possess adequate gold jewellery, generally at least 15-20 grams, to be pledged as collateral for the loan. Both traditional and modern ornaments are accepted.
• Ownership: The gold ornaments must be owned by the pensioner applying for the loan, who should have a clear title and proof of ownership. Gold belonging to any other family member is not accepted.
• Pension Income: Pensioners must have regular pension earnings through verified channels like former employers, government benefits, etc.
• KYC Documents: Basic Know Your Customer (KYC) documents such as identity proof, address proof, age proof, and pension account statements are required.