Gold Price in Delhi

Gold loan in Delhi

One can take a gold loan in Delhi whenever you need to take care of urgent expenses or emergency expenses. Have something that needs to be taken care of immediately? Then a gold loan in Delhi may just what you need. In Delhi, such loans are given by a wide range of banks and NBFCs. Delhi is the capital of India and is situated in the northern half of the country. It is the most populous city in the country, and is a union territory, even though its administration is akin to states.

Here are the general details of gold loans in Delhi:
Loan amount- Rs. 50000 to Rs. 50 lakhs
Loan tenure- 6 months to 2 years
Interest rate-10.50% to 13.50%

Gold loan rates in Delhi today

SBI- 9.15%
Muthoot Gold Loan- 12%
Mannappuram Gold Loan- 12%
HDFC- 10.05%
IIFL- 9.24%
Yes Bank- 11.25%
ICICI Bank- 10%
Federal Bank- 11.75%
Canara Bank- 9.10%
Andhra Bank- 10.70%
Axis Bank- 9.75%
IndusInd Bank- 11.25%
PNB- 10.05%
At mymoneykarma, you can compare and find the perfect gold loan in Delhi for yourself.
Repaying gold loans is very easy nowadays. You have several repayment choices! You may choose to pay back the interest first, and then the principal. You may alternatively want to pay the principal and interest in a lump sum.

How to get a gold loan in Delhi

You can get this after the submission of all necessary documents, and after you give the bank gold ornaments or gold jewellery. Giving gold items and jewellery in lieu of money is common in India and in Delhi as well. People commonly use these to get short-term loans. The processing of getting these loans is easy and simple, and that makes it more convenient for people to get these whenever they so require. However, do remember that these are short terms loans only. These are not for the long term. At most, these have tenures of 2 to 6 years maximum. For short term loans, and if you have the loans, this can be the perfect way to get some cash. Also, remember to know the current gold rate today in Delhi or today's gold rate in Delhi.

It is also important to know about 24-carat gold rate today in Delhi and 22-carat gold rate today in Delhi.

Banks and other financial institutions give several benefits like nominal rate of interest, attractive offers and easy repayment options.

Before getting a gold loan in Delhi, it is a good idea and even prudent to check the gold rate today in Delhi. See what the banks are offering. Some banks may offer better deals than others. Choose the one which suits you the most.

Delhi gold loan features

  • Fast loan processing
  • Low interest rates
  • No foreclosure charges
  • Credit score is not an issue when getting loans, but it is recommended to have a score above 600
  • Safety of your gold deposit as it remains with the bank till you pay back
  • No processing fees in most banks and NBFCs
  • Easy repayment options including paying only interest in installments, and afterwards the principal amount

Delhi gold loans highlights

Requirements: All you need to do is to provide your KYC documents and passport sized photos. After this, the bank will sanction your loan after evaluating your gold. Just pay the interest regularly.
Various schemes: Various banks offer a lot of schemes from which to choose the most suitable one.
End use: Banks and NBFCs do not ask for how you will use the loan. You can get the money without revealing any reason for use.
Loan amount: This depends on the gold’s value. Normally, you get 80% of the gold’s value.

Delhi Gold Loan interest rates

Currently, the gold loan rate in Delhi is between 9.70% to 26%. If you want to lowest interest against your gold, keep a tab on what banks and NBFCs are offering. It is also important to know the price of gold in Delhi. It is best to stay aware of the gold price in Delhi today.

How to get the lowest interest rate for gold loan in Delhi?

  • Compare offers and interest rates of our site to know of the latest lowest interest rates.
  • Always maintain a clean payment record to get the lowest rate on any loan
  • Keep a high credit score, which should be above 600.
  • Take advantage of seasonal benefits
  • Ask your employer if the company has any tie-ups with banks in order to get better rates
  • Required gold loan documents
  • Generally, you’ll be asked for KYC documents and one address proof in order to get the gold loan sanctioned. You may also want to know the Delhi gold trading prices.

Benefits of gold loan in Delhi

  • Less documentation
  • Lower interest rates, starting from 12% to 16%
  • Easy repayment options
  • Fast and easy processing.

How to apply for a gold loan at mymoneykarma?

You can apply for gold loan in Delhi from banks and NBFCs at mymoneykarma. If you are in Delhi wondering "how to get a gold loan near me", mymoneykarma is who can help you.

FAQs on Loan Against Gold

What is the definition of 'gold loan'?

Gold loan or loan against gold is a secured loan in which a customer pledges his/her gold ornaments as collateral with a gold loan company/lender. The lender, in turn, gives a loan amount as per the market value of gold to the customer. It is a very quick and easy way of fulfilling one’s financial needs as compared to the other loans.

Gold loan is a secured loan in which customers pledge their gold jewelry to banks or to Non-Banking financial corporations in order to get a short-term loan. Banks, NBFCs and independent lenders provide the loan amount, which depends on the market value of the gold ornaments. Gold loan is an easy way to get loans quickly for the fulfillment of immediate or pressing financial needs. Through gold loans, you can get loans faster and more easily than other forms of loans.

Which is better, a personal loan or a gold loan?

Paperwork for personal loans is not very elaborate, as long as basic eligibility parameters are met and KYC documents are furnished. While it is true that there are few financial products that can match the  versatility and flexibility of  personal loans, the emergence of secured gold loans bodes well for the loan scape, especially under the current circumstances that warrant an unstable employment scene. Learn in detail in this article.

Which loan should I pay off first?

When it comes to the requirement of funds, a person needs to approach long-term credit facilities that are offered by banks and NBFCs. These include personal loans, gold loans, home loans, vehicle loans, study loans, and more. Now, when getting loans for personal needs, or while getting one for personal use, people confuse between personal loans and gold loans. In case of personal loans, the interest rate is 2% to 5% higher when compared to a gold loan.

The main reason for this difference is that personal loans are unsecured, but gold loans are secured with your gold jewelry. To offset the risks for personal loans, banks charge you a higher interest rate.

Gold loans are better than personal loans. People prefer gold loans because they come with low interest rates, bigger loan amounts, faster disbursement, minimum documentation, and more flexibility in repayment. Even people with slightly low credit scores can get gold loans, which is not possible in the case of personal loans. 

Can I get an interest-free gold loan?

It is currently not possible, but there are other alternatives if you want lower interest rates.

  1. Government subsidy: If you want to get money for agricultural purposes, there are subsidies from the government of India. By these subsidies, you can get lower interest rates as low as 4%. 

  2. Good credit score; Banks and NBFCs have no problem with giving low-interest loans to those with high credit score. Having a high credit score means you are reliable in paying back loans. For this, your score needs to be above 750. Gold loan interest rates start at 9.95%.

  3. Selling the gold: If you are in dire need of money, consider selling the gold at the current value. That way, you won’t need to pay any interest and will get funds immediately. This will give you more value for your gold ornaments.

How do property loans and gold loans work?

When you face any financial dilemma, the very first thing that comes to mind is of taking a loan. Of course, there are personal loans. But these come with high interest rates, and therefore are stressful on the borrower. The good news is that there are alternatives like gold loans and property loans. These can be useful in times of financial stress. 

But which one is best for you? Let us find out:

Gold loan-


  1. Easy availability

  2. Flexible schemes

  3. Limited repayment problems as only your gold shall be lost


  1. Rising interest rates

  2. Lower Loan to Value Ratio

Loan against property:


  1. Lower interest rates


  1. Longer loan procedure

  2. Tough on non-repayment with property possession and its auction

  3. Stricter terms and conditions

What are alternatives available for gold loans?

There are several alternatives like:

  1. credit cards

  2. peer-to-peer loans

  3. unsecured personal loans and lines of credit

  4. salary advance

  5. small business loans.