Loans Against Gold Jewellery

Loans against gold jewellery, also known as Jewel Loans, are secured loans in which you pledge your gold jewellery as collateral to get funds in return. They are a quick and hassle-free way to get the funds you need.

Manappuram Finance Limited is a name you can trust if you want to obtain a Jewel Loan. The company is registered with the Reserve Bank of India and is known for its solid reputation for being trustworthy, transparent and customer-friendly.

Factors Affecting Jewel Loans

  • Gold Purity: If the gold jewellery you are going to pledge has higher purity, i.e., 22 or 24 karats, you might secure a larger loan.
  • Currency Value: If the value of the rupee changes, it can affect the current value of your collateral, which, in turn, affects the final loan amount.
  • Loan-to-Value (LTV) Ratio: This ratio tells how much funds the lender is willing to give you compared to how much your collateral is worth. A higher LTV ratio allows you to procure more funds for the same piece of jewellery.
  • Global Market Trends: The price of gold affects jewellery's worth. This impacts the disbursal amount.

Benefits of Manappuram Jewel Loan

  • Interest Rates- Low rates starting at 9.90%.
  • LTV ratio- Enjoy a maximum ratio of 75%.
  • Quick Processing- Get your loans approved within minutes.
  • Safety and Security: Secure jewellery storage in vaults.
  • Convenience: Apply online, anytime and anywhere.

Eligibility Criteria

  • Age: The applicant must be at least 18 years old.
  • Identity and Residential Proof: Have one identity and residential proof document
  • Ownership: You must own the gold jewellery that is to be used as collateral.
  • Gold Purity: The pledged jewellery must be within 18k to 24k.

How to Apply for a Jewel Loan?

Online

  1. Open our Online Gold Loan page.
  2. Register for our Online Gold Loan service and link your savings account with us.
  3. Visit the nearest branch of Manappuram Finance Limited to pledge your jewellery.
  4. On successful approval, Manappuram Finance Limited will credit the loan amount to your account.

Offline

  1. Locate the nearest branch to your home.
  2. Visit the branch with your gold jewellery.
  3. Fill out our loan application form and attach the necessary documents.
  4. Get your gold valued by one of our representatives.
  5. Upon valuation and verification, the funds will be disbursed to you through a Gold Loan.

Jewel Loan Interest Rates and Charges

Base Rate of Interest21.20%
Processing Charge₹25 + tax
Penal Charges2% p.a. on the amount due

Loan Repayment Options

Cash: You can repay your Jewel Loan at any of Manappuram Finance Limited’s 3,524 branches, regardless of where the loan was taken out from.
Online Payments: Online payments can be made through our Customer eService Portal.

FAQs

Can you get a Loan Against Jewellery?

Yes, with Manappuram Finance Limited, you can get a Loan Against Jewellery. We offer Jewel Loans of up to ₹5 crores at competitive interest rates.

What are the eligibility criteria for a Jewel Loan at Manappuram
Finance?

  • To get a Jewel Loan from Manappuram Finance Limited, you must be an Indian citizen and at least 18 years old.
  • You also have to ensure that the gold jewellery you pledge falls within the specified purity range.
  • In addition, you will be required to provide the required identity and resident proof documents.

How much of a Jewel Loan can I avail myself of from Manappuram
Finance?

You can avail yourself of a Jewel Loan of up to 1.5 crores. However, it is important to note that the purity and weight of your gold jewellery affect the loan amount you will be eligible for.

Why choose Manappuram Finance for Jewel Loans?

Manappuram Finance is a top choice for a loan for jewellery for several reasons. These include competitive interest rates, a high LTV ratio, a transparent and fast application and approval process, an online gold loan facility, minimal documentation requirements and a greater disbursal amount.

Contact Us

Need money immediately? Apply for a Gold Loan Against Jewellery from Manappuram Finance Limited today. To get in touch with us, visit our Enquire Now page.