Yes, a nominal fee of up to 2% of the gold loan is charged as processing fees to avail gold loan.
The loan approval process for gold loan is very fast. If your application meets all the requirements, it takes just a day for the loan amount to be disbursed.
The minimum loan amount ranges between Rs. 10,000 to Rs. 100,000 depending on the lender partner / bank. The maximum amount varies between Rs. 50 lacs and Rs 1 Crore.
Any kind of gold jewellery of purity over 18 karat can be provided as security to avail a gold loan. Please note, some banks do not offer loan against gold coins and the weight of stones etc. fixed on the ornaments will be deducted for the purpose of valuation.
The market value of your gold is calculated according to the per gram market rate of gold on the day of the loan application.
The interest rate on gold loan varies from one lender to another and starts as low as 0.83% per month to 2% per month. You can view applicable rate of interest once you enter your details on our Gold Loan service section.
Gold Uno is an online aggregator for gold loans. You can compare gold loan services from different NBFCs and Banks and choose the best deal among them. Gold Uno has partnered with ICICI Bank, HDFC Bank, CSB bank, Fincare Small Finance bank, AU Small Finance Bank, HDB Financial Services, Mannapuram Finance Limited and IIFL Finance.
Muthoot is an RBI registered NBFC which gives gold loans. It is the largest gold loan NBFC in the country.
PayNearby is currently working with 2 partners – Muthoot Finance and Gold Uno.
PayNearby has tied up with a few partners to provide Gold loan to its retailers and their customers. PayNearby is only an originating partner for these gold loans. These loans will be disbursed and managed by the ultimate lenders i.e. Muthoot Finance Limited and or other banks and NBFCs.