What documents are required to apply for a gold loan per gram?

When you apply for a gold loan in India, you’ll need to provide certain documents so the lender can confirm your identity, address, and ownership of the gold you are pledging.

Typically, you will be asked for the following:

• Photo identification: Aadhaar card, PAN card, passport, voter ID, or driving licence. These are essential for verifying who you are.
• Address proof: You must present a recent document that shows your current address. This could be an Aadhaar card, passport, voter ID, driving licence, utility bill, or a recent bank statement. Some documents, like Aadhaar or passport may serve both as ID and address proof.
• Photographs: Lenders generally require two recent passport-size photos.
• KYC compliance: Completing KYC requirements is mandatory. This usually involves submitting your ID and address proof and sometimes filling out additional forms as per the lender’s policy.
• Income proof: If you are seeking a higher loan amount or as required by the latest RBI rules, you may need to provide evidence of income like salary slips, bank statements or income tax returns.
• Ownership declaration: If you don’t have the original purchase bill for your jewellery, most lenders might ask you to sign a declaration that states that the gold belongs to you and is not already pledged or under dispute.

You do not need to submit the original purchase bill, but the gold should be your property and free from any legal complications. Always confirm with your lender about their exact documentation needs to ensure a hassle-free and speedy loan approval.