Know About the Documents Required for Gold Loans

Gold loan is one of the easiest and fastest ways to meet your immediate financial needs. Unlike other types of loans, it requires very less or minimal documentation. Due to simplified paperwork formalities, they are processed in less time. To avail a loan against gold, applicants are not required to produce any income/salary proof to the lender. If you are willing to apply for a gold loan, you would need a set of certain basic documents which are mentioned as below:

Identity Proof (Any one of the below):

  • PAN card
  • Aadhaar card

Current Address Proof (Any one of the below):

  • Aadhaar Card
  • Postpaid Bill/Landline Bill/ Water Bill/ Electricity Bill
  • Address Updated in Bank statement/Bank Passbook
  • Driving License
  • Voter ID
  • Passport
  • Rent Agreement (With Latest Owner's Electricity Bill)
  • Gas Bond Paper with the latest receipt
  • Credit Card Statement

Documents required for gold loan balance transfer:

  • Pledge card of the loan (It is a document which is taken from a customer at the time of doing a balance transfer. It states loan application number, the quantity of loan, lock-in period, and the loan amount)
  • One cancelled cheque (Any account)

Bottom Line

Gold loans can be your best option if you want instant cash at a low-interest rate. One can get a loan against gold instantly by pledging his/her gold jewelry with minimal documentation online. So, if you want to fulfil your immediate financial requirements, avail a gold loan online in a hassle-free way.