Manappuram Gold Loan. Gold Loan Online, Interest Rates, Eligibility, and More

Updated: Aug 30,2019 17:07 IST

Naveena

Manappuram Gold Loan is a loan got against your gold. Manappuram Gold Loan is one of the pioneers in the gold loan sector and is one of the top gold loan providers. Manappuram Gold Loan offers lowest interest rates and more details on Manappuram Gold Loan is given in the article.

An Overview of Manappuram Gold Loan 

Manappuram Gold Loans are provided by Manappuram Finance Limited, a non-banking financial company in Valapad, Thrissur, Kerala. It was founded in 1949 and is the highest credit rated gold loan company registered under Reserve Bank of India. Apart from Gold loan other extended services are foreign exchange, Forex and money transfer, SMS Finance, Online Gold Loan and Vehicle loans (Commercial). Gold Loan is the best option to choose rather than going with personal loan or business loans. Gold Loan comes handy in case of emergencies and has the low interest rates compared to other loan types.

How to Apply for Manappuram Gold Loan?

Manappuram Gold Loan is sanctioned over the gold ornaments you are pledging. With over 3700+ branches all over India, Manappuram Gold Loan is considered to offer the best interest rates on gold loans. Check the steps to apply for gold loan at Manappuram Finance.
  • Reach the nearest Manappuram Finance
  • The borrower needs to submit an application for with the necessary documents and Gold that is to be pledged.
  • The lender then checks the gold given as pledge by the borrower (both purity and weight).
  • After checking and authenticating completely, loan is provided based on the weight of the gold pledged.
  • The interest rate is fixed on the loan tenure and also the loan amount. 
  • Upon submission of application form and supporting documents, approval for the loan is given in minutes time provided everything is correct. 

What is the Eligibility Criteria to Apply for Manappuram Gold Loan?

To apply for Manappuram Gold Loan, it requires minimum eligibility from the customers. Check the basic eligibility to avail Manappuram Gold Loan.
  • Anyone who owns gold can apply for Gold Loan at Manappuram Finance, but those who are minors are not eligible to apply. 
  • The gold submitted can be gold jewellery or gold coin. 
  • The gold should be within the karat range of 18 to 24. 
  • The weight of stone in the jewellery will be deduced from the gold weight and loan amount will be given only for the weight of gold. 

What are the Documents Required to Obtain Manappuram Gold Loan?

In the process of availing for Manappuram Gold Loan, it does not require much of documents as proof. You just need to submit one document as Proof of Identity and One document as residential proof. The following documents can be submitted as identity proof
  • Ration Card
  • Driving license
  • PAN Card
  • Voter ID
  • Passport

What are the Features of Manappuram Gold Loan?

Manappuram Gold Loan is an immediate financial help for the people in need by pledging their gold. Gold loans require very minimal documentation when compared with other types of loans. Some of the special features of Manappuram Gold Loan are listed below.
  • Instant Cash by pledging Gold Ornaments and Jewellery
  • One can choose from different schemes available
  • Higher loan amounts being sanctioned
  • Loan can be availed for short tenures
  • Lowest interest rates on regular payment of EMI
  • Fixed interest rates throughout the loan tenure
  • Does not require a Guarantor or Introducer

What are the Safety Features Provided for Gold at Manappuram Gold Finance?

Customers of Manappuram Gold Finance is given enough security to their pledged gold. Safety measures taken by manappuram Finance are listed below.
  • Electronic surveillance technology is deployed to protect the gold.
  • The gold acquired as pledge from customers are stored in strong and safe room built according to the standards and specifications applicable to commercial banks.
  • No Damage to the ornaments are assured as appraising is done in the presence of customers.

What are the Interest Rates and Other Charges Related to Manappuram Gold Loan? 

Manappuram Gold Loan provides the lowest interest rates in the gold loan sector, the lowest interest rate being 9.90%. Base interest rate is 14% but based on certain criteria interest rates vary 3-4% above or below the base rate. Different loan schemes are provided by Manappuram with different interest rates and the applicant can avail any scheme based on his/her requirements. Check the table below for interest rates and other related charges.
 

Interest Rate

9.90% onwards

Overdue interest - chargeable

3% p.a.

Processing Fee

Rs. 10/- at the time of settlement

Prepayment charges

Nil

Loan Amount

From Rs. 5000/- up to Rs. 25 lakh

Loan Tenure

90 days to 365 days

The interest rate are fixed and are calculated on the basis of reducing balance. For detailed loan schemes, check the link Manappuram Gold Loan Schemes.

What are the Modes of Repayment of Manappuram Gold Loan?

Manappuram Gold Loan customers can easily repay their EMI every month through different modes being provided. The details related to repayment of Manappuram Gold Loan are listed below.
  • Repayment of the loan amount can be done at the end of the loan term and there is no much hassle about monthly EMIs. But then interest rates should be paid periodically.
  • The loan repayment can be done via. Cash or Cheque or DD.
  • Repayment can be done at counters of any branches across the 3700+ branches but the ornaments pledged should be collected only from the respective branches.
  • Loan repayment of interest or principal can be done in Online mode either in full or partial

How to Obtain Manappuram Gold Loan Online?

Gold Loan can be availed in Online from Manappuram Finance Limited. You can avail the loan anytime and from anywhere in the world. The steps to apply for Manappuram Gold Loan Online is given in the content below.
  • Gold Loan can be availed in Online from Manappuram Finance Limited. You can avail the loan anytime and from anywhere in the world. The steps to apply for Manappuram Gold Loan Online is given in the content below.
  • Safelock your Gold ornaments at your nearest Manappuram Finance Branch
  • Register for Online Gold Loan Service and link your savings bank account.
  • Get the loan amount credited to your bank account anytime using our mobile app or website.

What are the Benefits of Manappuram Gold Loan Online? 

Nowadays all kinds of services are converted into online modes due to the improvement of technology. Online features helps anyone to complete any work within in a less time and from their convenient work space. There are many benefits of Manappuram Gold Loan online which are listed below.
  • Access gold loan from anywhere, anytime
  • Free insurance cover for your gold
  • Easy documentation, instant approval, convenient 24X7 online repayment
  • Hassle-free, paper-less transaction from your mobile device
  • Free safe custody for your valuable gold
  • No hidden charges, fully transparent
  • Pay interest only for the exact number of days
  • 100% safety and security for your gold jewellery
  • Enjoy anytime liquidity

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