Get highest per gram rate with Shriram Gold Loan
Interest Rates Now Starting Only at 10%*
Quick Loan Disbursal
Flexible Repayment options
No Credit Check Required
Todays Max lending rate:
Gold Loan Eligibility
Gold loans have emerged as a reliable financial solution for individuals seeking quick access to funds. Shriram Gold Loan offers an efficient, customer-friendly service that allows you to leverage the value of your gold assets.
Understanding the eligibility for a gold loan is essential for a smooth borrowing process. Shriram Gold Loan caters to applicants across diverse demographics, including salaried employees, business owners and pensioners. Here are the key gold loan eligibility criteria:
Age Criteria for Gold Loan
Applicants must be at least 18 years old. The maximum gold loan age limit is 75 years at the time of loan maturity.
Gold Purity
Only gold jewellery with purity ranging between 18K and 22K is accepted.
Loan-to-Value (LTV) Ratio
You can borrow up to 75%* of the market value of your gold.
Occupation
Open to salaried individuals, self-employed professionals, business owners, and other individuals.
Documents Required for Gold Loan
Having the right documents ready simplifies the application process. Below is the comprehensive gold loan documents list:
Identity Proof
- Aadhaar Card (Mandatory)
- Passport
- PAN (Mandatory)
- Driver’s Licence
- Voter ID
Address Proof (Any One Mandatory)
- Aadhaar Card
- Passport
- Driver’s Licence
- Voter ID
- Utility Bills (Water/Electricity)
- Prepaid Mobile or Landline Bill
Key Points to Consider Before Availing Gold Loans
Before applying for a gold loan, it’s crucial to evaluate your financial needs and understand the terms:
Assess Your Financial Needs
Determine how much funding you require and choose a loan amount accordingly.
Check Eligibility
Ensure you meet all the gold loan eligibility criteria, including the age limit for gold loan.
Choose Competitive Interest Rates
Ensure you choose the most competitive interest rate to reduce interest amount.
Know Fees and Charges
Familiarise yourself with processing fees and related charges.
Flexibility in Repayment
Opt for repayment terms that suit your financial situation.
Secure Storage
Rest assured that your pledged gold will be stored securely in monitored vaults.
Factors Lenders Consider When Sanctioning a Gold Loan
Several factors influence the loan amount and terms:
Gold Value
The market price of your gold determines the eligible amount.
Gold Purity
Higher purity results in a better gold loan eligibility per gram.
Repayment Capacity
Your ability to repay on time impacts approval and interest rates.
Loan-To-Value Ratio
Higher LTV ratio may lead to higher interest rates.
Valuation Method for Gold Collateral Used for Shriram Gold Loan
Shriram Finance uses a standardised process to assess the gold articles you pledge for loans, ensuring fairness, accuracy and compliance with RBI guidelines.
Step 01
Gold Examination: Once you present your gold at any of our branches, a certified appraiser will examine the gold jewellery in your presence, using safe techniques like sound, flexibility and acid tests. These checks confirm the authenticity and purity of your gold, without damaging it in any way.
Step 02
Calculating Gross and Net Gold Weight: Each item is weighed on an approved scale. If your jewellery contains stones, strings or other non-gold materials, their weight is subtracted to arrive at the net gold weight. All deductions and findings are explained in a valuation certificate.
Step 03
Determining Gold Value: The value of your gold is based on its purity and the latest market rates. We always use the lower amount from either the average price over the last 30 days or the previous day’s closing price, as published either by the India Bullion and Jewellers Association Ltd. (IBJA) or by a commodity exchange regulated by the Securities and Exchange Board of India (SEBI)
Step 04
Calculating Your Loan Amount: Your eligible loan amount is determined by applying the RBI-prescribed Loan-to-Value (LTV) ratio, which is up to 75% of your gold’s calculated worth. This LTV ratio is maintained throughout your loan tenure to ensure complete compliance with regulations.
Step 05
Security and Transparency: Once the loan is disbursed, your gold is securely packed and stored in our vaults. Periodic audits may be conducted for quality assurance and you will be informed if any issues are found. This transparent process ensures you receive a fair and accurate loan amount while keeping your gold safe and fully accounted for at every stage
Factors Affecting Gold Loan Eligibility
Beyond the basic gold loan eligibility criteria, these factors also play an important role:
Changes in gold rates may have an impact on the maximum gold loan amount.
Hallmarked jewellery often fetches better valuations.
Shorter tenures may offer lower interest rates.
Gold Loan Eligibility Calculator
Use our gold loan calculator to get an estimate of the Equated Monthly Instalment (EMI) and the interest payable.
Loan Details
Kindly enter the loan amount or gold weight you want to pledge.
0.60 gms
You are required to pledge at least a net weight of 0.60 grams of Gold for a loan amount of
₹ 5,000
*Loan amount calculated at
₹ 8,377/ gm for 22K
The loan amount calculated is a rough estimate only. Our trained executives will manually determine the actual value when they examine the gold and its purity physically.
Gold Loan Eligibility FAQs
Who is eligible for Shriram Gold Loan? Or, What is the eligibility for a gold loan from Shriram Finance?
Salaried, self-employed professionals, business owners and other individuals can apply who fall under the age group of 18 to 75* years (*at the time of loan maturity).
How do you check Shriram Gold Loan eligibility criteria online?
To check Shriram Gold Loan eligibility online, visit our website and register to receive a verification call from our representative. Visit our branch with your gold asset and complete the verification and receive the gold loan amount.
What proof of income is required for a Shriram Gold Loan?
Income proof is not required for Shriram Gold Loan because the loan is secured by the value of the gold provided as collateral.
What documents are needed for a Gold Loan?
Documents needed for a gold loan include identity proof and address proof.
Is a PAN Card required to apply for a Shriram Gold Loan?
Yes. A PAN card is mandatory to avail a Gold Loan from Shriram Finance. However, you can submit Form 60 if you do not hold a PAN card.
Can a farmer apply for a Shriram Gold Loan?
Gold loans are accessible to all individuals who own gold assets, irrespective of their occupation or profession.
Can an 18-year-old get a Shriram Gold Loan?
Yes, the age criteria for Shriram Gold Loan starts from 18 years of age.
How much gold is required for a loan?
The amount of gold required for a loan depends on the loan amount, gold purity and current market value of the gold. The customer representative at the Shriram Finance branch will guide you on the required gold weight based on your desired loan amount.
How much loan can I get for 1 gram of gold?
To determine how much gold loan you can get for 1 gram of gold, register your mobile number to get a verification call from our representative or visit our branch to enquire about the loan amount you can get for 1 gram of gold.
What is the maximum age to apply for gold loan?
The maximum age to apply for gold loan is 75 years at the time of loan maturity.
Why Shriram Finance Is The Best Financial Partner For Your Gold Loan Requirement
45+Years of Trust
90 Lakhs+Satisfied Customer
3500+Branches Nationwide
25,000Committed Employees
Low Processing Charges & Quick Loan Disbursals on Gold Loan
