Raise money against gold jewellery in a single visit, with the ornaments stored in the lender’s strong room and returned the day you close the loan.
A gold loan is the quickest secured facility available to a household. Your ornaments are weighed and purity-tested in front of you, a loan of up to 75% of the valuation is sanctioned, and the money is released the same day. Income proof and credit history carry far less weight than they do on an unsecured loan.
FTM places gold loans with banks and large NBFCs that keep the pledged ornaments in insured strong rooms. You can repay through regular EMIs, by servicing only the interest and returning the principal at the end, or by part-releasing ornaments as you repay.
| Interest rate | 10.75% per annum onwards |
|---|---|
| Loan to value | Up to 75% of the valued gold |
| Tenure | 3 months to 36 months |
| Disbursal | Same day, after valuation |
It is sealed in your presence, insured and kept in the lender’s strong room. The same packet is returned to you, unopened, when the loan is closed.
Yes. Gold loans normally carry no foreclosure charge after a short initial period, so you can close the loan and collect your ornaments whenever you are ready.
The loan is fully secured by the gold, so the credit score carries very little weight. This makes it a practical option when a CIBIL issue is holding up other borrowing.
Send the details and an FTM advisor will call you within one working day with the checklist for this product.
Send us the requirement and an FTM advisor will call you back with the checklist and an honest read on whether the file will clear.
