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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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Manappuram gold loan is offered by Manappuram Finance Limited. Borrowers can avail of a gold loan from this financial institution of up to Rs. 1.5 crore by pledging their gold jewellery and gold ornaments. These gold loans can be repaid within a maximum tenure of 1 year.
Here are the top features of gold loan offerings by Manappuram:
Manappuram Finance has a variety of loan offerings. For instance, those who need a gold loan for their business’s financial requirements can apply for GL BL (Business Loan) scheme. The table below shows the total loan amount granted in the different loan schemes along with the interest rates applicable for each. The bank also provides a rebate on repledging of gold.
| Gold Scheme | Amount |
|---|---|
GL-DS Scheme | Rs. 5,000 to Rs. 30,000 |
GL-SY Scheme | Max Rs. 1 lakh |
Privilege Loan (GL-PL)* | Express Gold Loan Plus(GL-XG+) | Super Loan Plus (GL-SG+) | Samadhan Plus (GL-SA+) | Swarna Shakthi (GL-SX) | As per the pre-determined individual exposure limit |
GL B1+N | Min. – Rs. 2 lakhs |
GL B1-N | Min. – Rs. 5 lakhs |
GL B2+ | Min. – Rs. 10 lakhs |
GL H3+ | Min. – Rs. 25 lakhs |
Business Loan (GL BL) | Min. – Rs. 50 lakhs |
GL B4+ | Subject to individual exposure limit fixed |
To make it easy for borrowers, Manappuram Finance offers gold loans online. Loans of up to Rs.1.5 crore can be availed with interest payment applicable only for the number of days that the loan has been used for. The features of online gold loan offerings include:
Here are the eligibility criteria for availing of a gold loan from Manappuram:
Manappuram Finance gold loan can be availed through minimal documentation. An applicant just has to furnish the below-mentioned documents for the same:
To apply for Manappuram Gold Loan, a borrower can visit one of its branches.
One must fill out the application form and submit it along with the required documents. It is also a part of the process to get the gold ornaments appraised. Upon establishing the value of the jewellery, the bank subsequently disburses the loan amount.
Manappuram Finance Limited is one of the most popular and trusted gold loan providers in the country. With hassle-free documentation, interest rates of only 9.90% onwards and immediate disbursal, Manappuram gold loan is much preferred over personal loans especially for those who have a financial emergency. You can easily avail of a gold loan against your gold jewellery or ornaments to cover your urgent financial needs.
1. How many days will it take for gold loan from Manappuram Finance?
Once you furnish the filled-in application form and required documents, you can expect approval from Manappuram Finance within a matter of a few minutes. This is, provided all the documents and other requirements are as per the lender’s conditions.
2. Can I take Manappuram gold loan without a bank account?
You need not have a bank account to avail a gold loan from Manappuram Finance. However, it is always recommended to have one as transactions are done through a bank account that is compliant with regulations.
3. Is there a need for a guarantor in the Manappuram gold loan?
There is no need to provide a guarantor for availing of a Manappuram gold loan.
4. Can we prepay a gold loan?
Those who want to reduce the interest burden on their gold loan can make a partial prepayment of the loan principal or the accrued interest.
5. Is my gold safe in gold loan?
The gold ornaments pledged with Manappuram for availing the gold loan are kept safe since these are stored in a safe room at the loan provider’s branch. The safe is built as per standards and specifications that are commonly applied to commercial banks. The gold ornaments are also insured for the entire value and electronic surveillance technology is deployed for additional protection of the pledged gold.
6. What is the minimum gold loan amount?
Manappuram offers a minimum gold loan amount of Rs. 1,000. The same can be repaid in 3 months. The loan does not have a lock-in period.
7. Is there a penalty if I prepay my gold loan?
Borrowers of Manappuram gold loans can prepay their loan amount before the tenure ends as there will be no penalty applicable on gold loan prepayment.
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