What Documents Are Required to Apply for a Gold Loan for Education?

Typically, the key documents required when applying for a gold loan for education purposes are:

• Proof of Identity - Documents like Aadhaar card, PAN card, driving licence, or passport
• Proof of Address - Documents like voter ID, electricity bill, telephone bill, ration card, or Aadhaar card
• Bank Account Proof - Photocopy of the first page of the bank passbook or cancelled cheque
• Proof of Income - Salary slips, form 16, business income documents, land records for farmers
• Gold Valuation - Description of gold jewellery with weight, quantity and carat details
• Photographs - Passport-size photographs of the applicant
• Existing Loan Details - Information and proof of any loans currently being repaid by the applicant to help the loan provider assess the applicant's financial obligations
• Gold Appraisal Form - Completed online application form with jewellery details to be evaluated by the loan provider.
• E-KYC verification - Aadhaar-based electronic know-your-customer (KYC) verification
• Co-applicant Form - Documents of joint applicant or guarantor, if any

The documentation for a gold loan is typically less extensive compared to traditional education loans from banks, which often require detailed financial statements, credit history, and collateral documentation. This makes the application process for gold loans for education easier for quicker approval and disbursal.