Manappuram Gold Loan Interest Rate @12%, Apply Online Now

Gold loan is a good and convenient way to meet financial needs. You can fulfill your needs by availing of the Manappuram Gold Loan. It has more than 5000 branches and dealers across India.

Manappuram Finance Limited offers loans up to ₹ 1.5 crore to its customers at reasonable interest rates and without hidden charges. Any person above 18 years of age and has gold jewelry, coins (18 carats to 24 carats), etc., can take a loan as per the current market price of Gold.

Here, we will tell you about the Manappuram Gold Loan interest rate, documentation, Online Gold Loan application, and online loan payment.

Manappuram Gold Loan Interest Rate and Other Details

Interest Rate	Competitive Interest Rate starting from 12% per annum.
Minimum Loan	₹1000
Maximum Loan Amount	₹1.5 Crore
Tenure	90 to 365 days
Processing Fees	₹10
Penal Interest Rate	3% per annum
LTV (Loan to Value)	As per the loan scheme: High LTV (high-interest rate) Low LTV (Fair interest rate)

While taking any loan, interest rate matters a lot. Therefore, any NBFC (Non-Banking Financial Company) focuses on many factors while deciding the interest rate.

Manappuram Finance is one of the leading Non-Banking Finance Companies (NBFC) that allows you to avail of gold loan facilities.

Its interest rates start from 12% per annum and go up to 29% per annum.

Gold loan interest rates depend on the loan-to-value (LTV), so a higher LTV will automatically attract higher interest rates. Similarly, reasonable interest rate charges are seen on low LTV loans.

Manappuram Gold Loan Rate Per Gram

Manappuram Ltd. offers various gold loan schemes to meet the needs of different customers. A gold loan is a loan that is secured by pledging gold jewelry as collateral. The bank accepts and appraises gold items of varying purity and weight and provides loans based on their value.

Weight	Loan on 22 Carat Gold	Loan on 20 Carat Gold	Loan on 18 Carat Gold
1 gram	4260	3870	3484
10 grams	42600	38700	34500
20 grams	85200	77400	69680
30 grams	127800	116100	104520
40 grams	170400	154800	139360
50 grams	213000	193500	174200
100 grams	426000	387000	348400

Manappuram Gold Loan Rate Per Gram – HDFC, SBI, Muthoot Finance, ICICI Bank, Canara Bank, IIFL & Rupeek Gold Loan

There are many banks and NBFCs in India that give loans against gold. All banks and NBFCs charge interest rates according to their customers. Here, we have given information about some banks and NBFCs that provide you with gold loans per gram.

Bank/NBFC	Gold Loan Per Gram Rate	Interest Rate (per annum)	Min-Max Loan Amount
HDFC Gold Loan	Rs 3484 to Rs 4260	9.90%	Rs 10000 to 5 Crore
SBI Gold Loan	Rs 3484 to Rs 4260	9.75%	Rs 20000 to 50 lakhs
Muthoot Finance Gold Loan	Rs 3484 to Rs 4260	12.00%	Rs 1500 to 5 Crore
ICIC Gold Loan	Rs 3484 to Rs 4260	10.00%	Rs 50000 to 1 Crore
Canara Bank Gold Loan	Rs 3484 to Rs 4260	7.25%	Rs 1000 to ₹35 lakhs
IIFL Gold Loan	Rs 3484 to Rs 4260	12.00%	Rs 3000 to 50 Lakhs
Rupeek Gold Loan	Rs 3484 to Rs 4260	8.88%	Higher value for your Gold

Advantages of Manappuram Gold Loan

Manappuram Finance offers several benefits to customers who avail of a gold loan from them. Here are some of the advantages:

Minimum Processing Time and Charges: Manappuram Finance offers a secured gold loan with a short disbursement period. The money is usually credited to the borrower’s account within 24 to 48 hours if all the documents are provided by the borrower on time. The processing fee for a loan against gold is less than zero.

No-Income Proof Required: A gold loan is a secured loan for which you pledge your gold to the lender. For this reason, you do not need to provide income proof to avail of this loan.

Pay Interest Only Option: A loan against gold has a unique policy that allows the borrower to pay only the interest component while repaying the loan. The primary component can be paid at the end of the loan tenure or during the loan closing process.

Loan Amount: Manappuram Finance Limited offers gold loans ranging from Rs 1,000 to a maximum of Rs 1.5 crore. The amount of loan sanctioned depends on the purity and net weight of the gold. The company gives a maximum loan of 75% of the value of your gold.

Interest Rate: In terms of interest rate, a gold loan is considered a very cheap loan because the interest rate charged on the gold loan is much lower as compared to other existing loan types. Manappuram Finance charges a minimum interest rate of 12% per annum.

No CIBIL Score Required: No CIBIL score required: A Gold loan is a secured loan that you take from the bank by pledging your gold, so there is no need for a CIBIL score while taking a gold loan. After repaying the gold loan, your CIBIL score increases.

Eligibility Criteria for Manappuram Gold Loan Rate Per Gram

To access the benefits of the Manappuram Gold Loan, you fulfill some simple eligibility criteria. These norms ensure the loan process is streamlined and you and the lender are protected. Here are the eligibility requirements:

• The age of the applicant must be 21 years or above.
• The applicant must be a citizen of India.
• A salaried and self-employed person can easily apply for a gold loan.

Documentation Required for Manappuram Gold Loan

• Identity Proof: Driving License, PAN Card, Form 60/61, Passport Copy, Voter ID Card, Aadhar Card, Ration Card.
• Address Proof: Driving License, Voter ID Card, Ration Card, Aadhaar Card, Passport Copy, Registered Lease Agreement along with a utility bill not more than 3 months old in the name of the landlord (any), in case of agriculture loan above Proof of land holding ‘1 lakh’.
• Ownership of Gold: You need to be the rightful owner of the gold you intend to pledge as collateral. This requirement prevents any disputes over ownership during the loan tenure.
• Purity and Weight: The gold you’re pledging should meet certain purity and weight standards. Manappuram will appraise your gold to determine its value, and this evaluation is based on factors like purity, weight, and current market rates.
• Passport-sized Photographs: Recent passport-size photographs that comply with the specifications provided by Manappuram Ltd.

How to Apply Manappuram Gold Loan?

Manappuram Gold Loan scheme allows you to borrow money by pledging your gold jewelry, coins, or jewelry as collateral. You can use this loan for various purposes, like meeting personal or business expenses, education, medical emergencies, etc.

To apply for Manappuram Gold Loan, you need to follow these steps:

1. Visit the nearest Manappuram branch.
2. Get your gold jewelry appraised by a Manappuram appraiser.
3. You will fill out a loan application form. Provide accurate information in your application form.
4. The loan amount you will get will generally be 75% percentage of the value of the gold. Manappuram will inform you about the loan amount, rate of interest, and other terms and conditions attached to the loan.
5. If you agree to the terms and conditions presented, you will need to sign the loan agreement.
6. Once you complete the necessary formalities, the loan amount will be disbursed to you. This will be done via cash, check, or electronic transfer to your bank account.

Online Gold Loan (OGL) Apply

Online Gold Loan is a new product launched by Manappuram Finance Limited. With OGL, you can get a gold loan anytime, anywhere. The loan amount is instantly credited to your savings bank account registered with us. The loan is given based on the value of gold already pledged in a branch.

The online gold loan process can be summarized in three easy steps. You can know those steps below.

1. The first step would be to visit the nearest Manappuram Limited branch to deposit your precious gold jewelry. The total value of your gold will be assessed, and your maximum loan amount will be decided accordingly.
2. After this, you have to register for the online gold service and link your savings bank account from which you want the loan amount.
3. After the last step, you visit the official website of Manappuram to get the loan amount in your savings bank account.

How to Repay Your Manappuram Gold Loan?

There are different ways to repay your Manappuram gold loan, depending on your convenience and preference. Here are some options:

1. Flexible Repayment: You can repay the loan whenever you have enough money, with no monthly payments. You can also make a partial payment of the principal or interest amount.
2. Monthly Repayment: You can opt for EMI-based repayment, where the monthly deduction will include both the principal and interest amount. In this way, the loan amount will gradually reduce.
3. Partial payment of gold loan EMI: You can pay only the interest amount every month, and the principal amount at the end of the loan tenure.

You can also use online payment methods like Quick Pay, PAYTM, or Manappuram OGL App to make repayments anytime, from anywhere.

All you need is your pledge number and the amount to be paid. You can also visit any Manappuram branch across the country to make payments through cash, check, or DD.

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