Gold Loan in Mumbai – Apply for Easy & Secure Gold Loans
More people in Mumbai are turning to gold loans for their financial needs because the process is quick, transparent and safe. Whether the requirement is personal, educational or business-related, a gold loan in Mumbai gives instant access to cash without the usual paperwork and waiting period. The loan lets you use the value of your gold while keeping ownership, offering a simple and dependable solution when funds are needed urgently. With secure storage and customer-friendly terms, it’s one of the most practical borrowing options in the city today.
Estimate Your Gold Loan Eligibility (Rates Effective 25 Oct 2025)
*The market value of your gold is calculated by taking the 30-day average gold rate of 22-carat gold | The purity of the gold is assumed to be 22 carats.*
*You can avail a maximum loan of up to 75% of the market value of your gold, depending on the quality of the gold.*
Disclaimer: The gold loan amount displayed is an estimate. Actual eligibility and loan value may vary based on the gold valuation process.
Gold Loan Interest Rate in Mumbai
The gold loan interest rate in Mumbai depends on several factors, including the purity of your gold, the amount borrowed and the repayment tenure. Rates generally start from 11.88% per annum and may reach 27% per annum, giving borrowers the flexibility to choose what suits their finances. All charges are communicated in advance, so there are no hidden costs or surprises later.
| Loan Amount: | ₹3,000 – No Upper Limit |
|---|---|
| Interest Rate: | 11.88% – 27% p.a |
| Processing Charges: | Nil – 2% of disbursal |
| Documentation Fees: | Nil |
| Loan Tenure: | 12 or 24 months |
Features and Benefits of Gold Loan In Mumbai
Gold loans have become a widely popular product, especially in Mumbai. IIFL Finance has a specially-designed gold loan in Mumbai as a financial product to cater to the capital needs of the people of Mumbai. Here are some of the features of the gold loan Mumbai:
How To Apply For A Gold Loan in Mumbai
Getting a gold loan in Mumbai is straightforward. You can visit the nearest branch or simply apply online from the comfort of your home. Fill in your basic KYC details, provide information about the gold you wish to pledge and schedule a short evaluation. After the gold is verified, the loan is approved quickly, and the amount is credited to your account without delay. The process is designed to save time and effort for every borrower.
How To Apply For Gold Loan: Detailed Guide
Apply for a Gold Loan Online via Website: Step-by-Step Guide
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Fill the Online Form : Submit your details online and book an appointment at your preferred branch or your doorstep.
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Visit the Branch : Walk in with the gold you want to pledge.
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Submit Documents : Provide your ID and address proof for verification.
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Get Quick Approval : Gold is evaluated on the spot and the loan is disbursed quickly.
Where You Can Visit IIFL Finance Branch in Mumbai
IIFL Finance have 50+ operational gold loan branches in Mumbai. Search for “gold loan near me” on map or click here to locate the branches nearest to you.
Loan Tenure and Repayment Options
Borrowers can select either a 12-month or 24-month tenure, depending on convenience. Payments can be made through EMIs or an overdraft facility. There are no penalties for early repayment or foreclosure, allowing full flexibility to close the loan whenever you wish.
Gold Loan Eligibility & Documentation
Getting a Gold Loan from IIFL Finance is simple and hassle-free. Any Indian resident aged 18 years or above with gold jewellery can apply. The process requires only basic KYC documents such as Aadhaar and PAN, no income proof or credit score needed, ensuring quick approval and easy disbursal.
Gold Loan Process and Required Documents Explained
Gold Loan Eligibility: Who Can Apply
Explore the eligibility criteria to apply for a Gold Loan with IIFL Finance.
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You must be between 18 and 70 years of age at the time of loan disbursement.
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Applicants can be salaried, no salaried, self-employed, or non-salaried individuals.
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You must own the gold you are pledging.
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Only gold jewellery is eligible as collateral; gold coins and bars are not accepted for pledge.
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Gold purity must be between 18 and 22 karats.
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Valid KYC documents include the Aadhaar card and PAN card.
Documents Required for Gold Loan
A gold loan borrower must submit one of the following document as part of the Reserve Bank of India’s “Know Your Customer” (KYC) norms:
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Aadhaar Card
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Valid Passport
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PAN Card
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Valid Driving Licence
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Voter ID Card
Why Choose IIFL Gold Loan in Mumbai
IIFL Finance is one of the leading gold loan companies in Mumbai. We have designed our gold loan products to be distinctive and ensure they come with attractive and affordable gold loan interest rates. You should choose to take a gold loan Mumbai from IIFL Finance because of the following reasons:
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The loan amount is offered at the highest possible value of the pledged gold articles by the borrower.
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The pledged gold is kept highly safe in secure lockers with IIFL Finance and is backed by an insurance policy.
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Customised schemes as per the borrower to ensure you raise enough funds to meet all of your capital requirement needs.
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Flexible EMIs and repayment options to ensure the loan does not create a financial burden on the borrower.
Uses of Loan against Gold in Mumbai
Taking a loan against gold in Mumbai can prove to be the best decision for an individual who has gold articles to pledge. When you take a loan from gold loan companies in Mumbai, there aren’t any restrictions on the end-use of the loan amount. It means you can determine the usage of the loan amount at your convenience. Commonly, you can use the loan amount for:
Why is Gold Loan the Most Feasible Borrowing Mode in Mumbai?
If you are a Mumbaikar, you need funds to cater to personal activities such as marriage, education, buying a vehicle etc. Furthermore, it is a high possibility that they have gold articles lying dormant in a bank locker. Taking a gold loan in Mumbai can prove to be the most feasible borrowing mode as the loan product uses physical gold as collateral and offers an adequate loan amount to the gold owners. Since the gold loan in Mumbai is backed by gold as collateral, there is no need for a credit score.
Gold Loan in Mumbai FAQs
You can apply for a gold loan when you need urgent capital funds for specific purposes such as education, medical, marriage etc. and have physical gold that you can pledge as collateral.
Gold loan is calculated based on the pledged gold and its market value in the domestic physical market. Use gold loan calculator on IIFL Finance’s website to see how much loan you get against weight of the gold.
The maximum tenure of the gold loan is 24 months.
The gold loan interest in Mumbai starts with 0.99% onwards per month and rate varies as per loan amount and gold loan scheme availed.
You can go through our website for any queries on low-interest gold loans. Alternatively, you can get in touch with our customer service staff by calling on 7039-050-000 for any type of queries on gold loan finance.
The current gold rate in Mumbai varies daily. For the latest and accurate gold prices, please check visit our Gold Rate in Mumbai page.
No, only Indian residents are eligible to apply for a gold loan in Mumbai.
No, all charges including processing fees and interest rates are clearly mentioned before approval.
Yes, you can apply online and it is a very easy process with minimal documentation.
As per RBI guidelines, the LTV ratio can go up to 75% of the gold’s value.
Your loan eligibility depends on the current market value of gold. When gold prices rise, your eligible loan amount increases; when prices fall, the amount decreases.
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