Multiple banks. Different interest rates. Call it a "conflict of interest".

    Manappuram Gold Loan

    Gold loans are a new concept which is rapidly becoming popular in India. A Gold Loan is, simply put, a loan provided against gold. Nowadays, people are preferring to take a gold loan over personal or business loan, for the primary reason that it can be availed at comparatively lower interest rates. Gold loans may be taken to finance requirements like children’s education, a wedding or any other such financial need. Also, with a rise in the rates of gold, the demand for gold loans has increased significantly.

    Among the leading providers of gold loans is Manappuram Finance Limited, which offers gold loans with some attractive terms and features. This gold loan can be taken for amounts as high as Rs 1 crore and offers multiple schemes for you to choose from, based on your requirements. Read on to find more about the Manappuram gold loan and how it may benefit you.

    Features of Manappuram Gold Loan

    • High Loan Amounts – With the Manappuram Gold Loan, you can avail high loan amounts based on the net weight and purity of the gold ornaments or jewellery which is being pledged. You can avail loans up to amounts as high as Rs 1 crore to take care of all kinds of personal financial needs.
    • Availability of Instant Cash – With the Manappuram Gold Loan, you need not wait to have access to the cash you need. You will be allowed to draw cash immediately after pledging your gold jewellery or ornaments.
    • Multiple Schemes to Choose from – Manappuram Finance Limited understands that financial needs differ from individual to individual. This is why you have a range of gold loan schemes to choose from and select the one which best addresses your financial and budgetary requirements.
    • Loan Sanctioned With Minimum Requirements – Unlike other kinds of loan products which require you to furnish a variety of documents and proofs, the Manappuram Gold Loan can be availed with minimum documentation. You only need to submit one recent ID, like your Voter ID, Ration Card, Driving License, Passport, etc.
    • Quick Loan Processing – You needn’t wait for days and weeks to get your loan sanctioned. This loan does not involve any exhaustive or time consuming formalities, hence saving precious time. Once you have submitted your documents and application form, your loan may be approved in a matter of a few minutes, assuming all formalities are complete and in order.
    • Low Interest Rates – One of the primary reasons why the Manappuram Gold Loan is preferred over other types of loans, is due to the low interest rates it offers. Also, you only have to pay interest for the exact period of the loan and for the exact number of days.
    • No Prepayment Penalty – In case you do decide to prepay your loan before its due date, you may easily do so without having to pay any pre-payment penalty.

    Manappuram Gold Loan Interest Rates

    Manappuram Finance Limited offers gold loans at very attractive rates of interest, making them highly affordable. The base rate for gold loans has been fixed at 12 %. In addition to the base rate, an additional interest (amounting to risk premium) ranging between 3% to 12%, will be charged, based on how high the Loan to Value (LTV) is. The interest payable and the risk premium will only be calculated for the number of days for which the loan amount has been utilized. The rate of interest is fixed and will be calculated on a reducing balance basis. Also, simple interest will be charged on this loan which must be paid by the borrower at specified periods or at the time of loan closing, whichever occur earlier.

    Eligibility for Manappuram Gold Loan

    The Manappuram Gold Loan has been introduced to help more and more people obtain financial assistance to take care of their needs. This gold loan can be applied for by any individual who owns gold ornaments or jewellery. In order to get the loan, the applicant must submit their gold jewellery (between the ranges of 18 karats to 24 karats) at the Manappuram Finance Limited branch. The amount of loan which is finally sanctioned will depend on the valuation of the gold which involves the verification of its purity. If the pledged gold ornaments/jewellery has any stones fixed or fitted, the weight of those stones will be deducted for precise valuation. Minors are not eligible to avail this loan.

    Documentation Required for Manappuram Gold Loan

    In order to apply for the Manappuram Gold Loan, all you need to submit is one proof of your identity and one proof of your address. As a proof of your identity, you may submit any one of the following documents – Passport, driving licence, ration card, Voter ID, PAN card. The Manappuram gold loan do not come with any end-use restrictions.

    Fees and Charges - Manappuram Gold Loan

    Delivery of gold against lost pawn ticket Rs 75 for first instance; Rs 100 for subsequent instance.
    Statement of Accounts No charge (within 30 days of closure); Rs 25 (after 30 days of closure).
    Gold Processing Charge Rs 10, at the time of loan settlement.
    Loan prepayment No prepayment charges

    Manappuram Gold Loan FAQs

    1. If the applicant is continuously defaulting on their loan payments, when will their gold jewellery be auctioned off?

      In case the applicant is persistently failing to make loan payments, the gold ornaments of the applicant will only be auctioned off after sufficient notices have been given to the applicant for defaulting payments. The company sends reminders to the applicants overdue on their payments via SMS. Prior to the auction of the ornaments, the company will send a reminder about the auction as well.

    2. Is it possible that my ornaments may be damaged while being appraised?

      Appraising of the ornaments to be pledged is done in the presence of the applicant / customer. The company takes all possible care to make sure that the ornaments do not undergo any damage at any stage of the appraisal or while being stored.

    3. What are the consequences following failure in payment of the loan amount by the due date?

      If the loan amount has not been repaid before or by the date it is due, the company will charge a penal rate of interest on the loan amount.

    4. Can I make partial payments on my loan amount and interest?

      Yes, you are allowed to make partial payments on your loan amount or accrued interest to bring down the burden of your loan. Interest on this loan is calculated on the daily product basis at the end of each day.

    5. I wish to take a Manappuram gold loan. Do I need to open an account with a bank or present a Guarantor or Introducer for the purpose?

      No. You do not need to open an account with any bank or present an Introducer or Guarantor to apply for the Manappuram Gold Loan.


    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.