Manappuram Finance Ltd. provides gold loans starting at 12% per annum for loan amounts up to Rs 1.5 crore, with flexible tenures of up to 1 year and no restrictions on end usage. Applicants can avail Manappuram Gold Loan by pledging their gold ornaments or jewelry as security. The lender assures easy documentation and instant loan approval for added convenience.
| Manappuram Gold Loan Highlights | |
|---|---|
| Interest Rate | 12% p.a. onwards |
| Processing Fees |
|
| Repayment Tenure | Up to 1 years |
| Loan Amount | Rs 1,000 to Rs 1.5 crore |
| LTV Ratio | Up to 75% of the value of gold pledged as collateral |
Manappuram offers gold loan interest rates starting from 12% per annum onwards. The final interest rates on gold loans provided by the lender depend on the specific loan scheme and the amount borrowed.
Also read: Best Gold Loan Interest Rate
| Bank/NBFC/Fintech | Interest Rate | |
|---|---|---|
| State Bank of India | 8.75% p.a. onwards | Apply Now |
| Axis Bank | 17% - 19% p.a. onwards | Apply Now |
| Punjab National Bank | 9.25% p.a. onwards | Apply Now |
| Bank of India | 8.80% p.a. onwards | Apply Now |
| IndusInd Bank | 8.80% p.a. onwards | Apply Now |
| Bank of Baroda | 9.40% p.a. onwards | Apply Now |
| Union Bank of India | 9.30% – 10.65% p.a. | Apply Now |
| Canara Bank | 9.25% p.a. onwards | Apply Now |
| HDFC Bank | 8.50% - 15.97% p.a. | Apply Now |
| Federal Bank | 8.99% p.a. onwards | Apply Now |
| ICICI Bank | 10% p.a. onwards | Apply Now |
| Bajaj Finserv | 9.50% – 28% p.a. | Apply Now |
| Manappuram Finance | 12% p.a. onwards | Apply Now |
| Bank of Maharashtra | 9.30% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8% - 24% p.a. onwards | Apply Now |
| Indian Bank | 0.77% per month | Apply Now |
| IIFL Finance | 11.88% - 27% p.a. | Apply Now |
| Rupeek | 8.88% p.a. onwards | Apply Now |
| Muthoot Finance | 10.90% p.a. onwards | Apply Now |
| Shriram Finance | 11.40% p.a. onwards | Apply Now |
Purpose
Manappuram Gold Loan allows individuals to access funds by pledging their gold assets, with no restrictions on the usage of the procured funds.
Loan Tenure
The tenure for Manappuram Gold Loans for Education can be extended up to 2 years.
LTV ratio
The Loan-to-Value (LTV) ratio for Manappuram Educational Gold Loans can extend up to 75% of the total value of gold pledged as security or collateral.
Purpose
Manappuram Online Gold Loan offers individuals the opportunity to secure funds to meet their personal, professional, or business-related requirements by pledging gold ornaments as collateral or security.
Loan Amount
The loan amount for Manappuram Online Gold Loans can extend up to Rs 1.5 crore.
LTV ratio
The Loan-to-Value (LTV) ratio for Manappuram Online Gold Loans can reach up to 75% of the total value of gold pledged as security or collateral.
Purpose
Manappuram Doorstep Gold Loan enables individuals to access the loan facility conveniently from their doorstep. By pledging gold as collateral, borrowers can fulfill various personal, professional, and business-related needs.
LTV ratio
The Loan-to-Value (LTV) ratio for Manappuram Gold Loans at Home can reach up to 75% of the total value of gold pledged as collateral.
Also read: Best Gold Loan EMI Calculator
| Particulars | Charges |
|---|---|
| Processing Fees |
|
| Prepayment charges | NIL |
| Penal Interest | 3% p.a. |
| Auction charges |
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| Security Charges |
|
The eligibility criteria for Manappuram Gold Loan, as specified by the lender, are as follows:
Also read: Best Gold Loan Eligibility
To avail a Manappuram Gold Loan, applicants are required to submit the following documents:
Also Read : Best Gold Loan Documents Required
Once the application form and necessary documents are submitted, you can anticipate receiving approval from Manappuram Finance within a few minutes. However, the final decision rests with the branch head of Manappuram Finance and may vary based on their discretion.
While it's not mandatory to have a bank account to avail a gold loan from Manappuram Finance, it's advisable to have one. Transactions conducted through a bank account adhere to regulations, ensuring compliance and transparency.
No, you do not need to provide a guarantor to avail a gold loan from Manappuram Finance.
If you aim to reduce the interest burden on your gold loan, you have the option to make partial repayments of the loan or the accrued interest at any time.
The gold ornaments pledged with Manappuram are securely stored in a robust safe or room at the branch. These storage facilities adhere to the standards and specifications applicable to commercial banks. Furthermore, the pledged gold ornaments are insured for their full value, and electronic surveillance technology is employed to enhance the security of the pledged gold.
You can avail a minimum of Rs. 1,000 as a gold loan from Manappuram Finance, with a repayment period of 3 months. Importantly, there is no lock-in period for gold loans obtained from Manappuram Finance, providing borrowers with flexibility in repayment.
Yes, Manappuram Finance permits you to prepay your gold loan before the end of your loan tenure, and no penalty is charged for early repayment.