Gold Loans Explained: How to get a loan against jewellery at home – watch FAQs video – Times of India

Gold Loan FAQs: Are you looking for quick access to a loan for any purpose? Also one where credit rating doesn’t matter? Gold loans are one such option – walk in with jewellery, walk out with a loan. While there are specific loans for different purposes, everyone from cash deficient entrepreneurs to parents seeking education loans are going for loans against gold.
In this week’s episode of TOI Wallet Talks, George Alexander Muthoot, the MD of Muthoot Finance explains how the process of gold loans works and the difference between gold loans and other types of loans that you can get from banks.

Watch the video above to know if CIBIL (Credit Information Bureau India Limited) score is important to get a gold loan and what KYC (Know Your Customer) norms are followed before giving it.
Reports suggest that gold loans have been surging as people look for alternate financing options for major goals in life, especially children’s education. According to George Alexander Muthoot, the demand for gold loans has been on the rise since the pandemic days as people saw an easier financing option available.
The Muthoot Finance MD explains how Non-Banking Financial Companies (NBFCs) check the weight and purity of gold to arrive at its valuation. He also said that depending on the valuation of the gold jewellery, a gold loan of up to 75% is given against it.
If you are planning to take a gold loan against your jewellery then watch the video above to get all your Frequently Asked Questions (FAQs) on gold loans answered in under 10 minutes.
Don’t miss out on the weekly episode of TOI Wallet Talks, every Friday at 7:30 AM on the Times of India website and Youtube channel as we get personal finance and tax experts to decode the jargon, rules and news on income tax, financial planning, investment avenues and more.