Jewel Loan
Loans against gold jewellery, also known as Jewel Loans, are secured loans in which you pledge your gold jewellery as collateral to get funds in return. They are a quick and hassle-free way to get the funds you need.
Manappuram Finance Limited is a name you can trust if you want to obtain a Jewel Loan. The company is registered with the Reserve Bank of India and is known for its solid reputation for being trustworthy, transparent and customer-friendly.
Factors Affecting Jewel Loans
- Gold Purity: If the gold jewellery you are going to pledge has higher purity, i.e., 22 or 24 karats, you might secure a larger loan.
- Currency Value: If the value of the rupee changes, it can affect the current value of your collateral, which, in turn, affects the final loan amount.
- Loan-to-Value (LTV) Ratio: This ratio tells how much funds the lender is willing to give you compared to how much your collateral is worth. A higher LTV ratio allows you to procure more funds for the same piece of jewellery.
- Global Market Trends: The price of gold affects jewellery's worth. This impacts the disbursal amount.
Benefits of Manappuram Jewel Loan
- Interest Rates- Low rates starting at 9.90% per annum*.
- LTV ratio- Enjoy a maximum ratio of 75%.
- Quick Processing- Get your loan approvals quickly.
- Safety and Security: Secure jewellery storage in vaults.
- Convenience: Apply online, anytime and anywhere.
Eligibility Criteria
- Age: The applicant must be at least 18 years old.
- Identity and Residential Proof: Have one identity and residential proof document
- Ownership: You must own the gold jewellery that is to be used as collateral.
- Gold Purity: The pledged jewellery must be within 18k to 24k.
How to Apply for a Jewel Loan?
Online
- Open our Online Gold Loan page.
- Register for our Online Gold Loan service and link your savings account with us.
- Visit the nearest branch of Manappuram Finance Limited to pledge your jewellery.
- On successful approval, Manappuram Finance Limited will credit the loan amount to your account.
Offline
- Locate the nearest branch to your home.
- Visit the branch with your gold jewellery.
- Fill out our loan application form and attach the necessary documents.
- Get your gold valued by one of our representatives.
- Upon valuation and verification, the funds will be disbursed to you through a Gold Loan.
Jewel Loan Interest Rates
| Scheme Name | LTV | Loan Limit | Monthly Prompt | Bimonthly Prompt | Quarterly Prompt | Base Interest Rate | Annualised Rate of Interest |
|---|---|---|---|---|---|---|---|
| MT + 5 | 75% | Min ₹5 Lakhs | 9.90% | 21.67% | 21.67% | 21.67% | 23.96% |
| SA + 1 | 60% | Min ₹1.95 Lakhs | 11.50% | 21.67% | 21.67% | 21.67% | 23.96% |
| DS | 50% | Max ₹75,000 | 12.00% | 20.00% | 21.67% | 21.67% | 23.96% |
Note: Learn more about the interest rates of our gold loan schemes to make an informed decision.
Loan Repayment Options
Cash: You can repay your Jewel Loan at any of Manappuram Finance Limited’s 3,524 branches, regardless of where the loan was taken out from.
Online Payments: Online payments can be made through our Customer eService Portal.
FAQs
Enquire Now
Contact Us
Need money immediately? Apply for a Gold Loan Against Jewellery from Manappuram Finance Limited today. To get in touch with us, visit our Enquire Now page.