Overview of Gold Loan in Faridabad
Gold loans in Faridabad offer quick financial solutions by pledging gold jewelry as collateral. In 2025, banks and NBFCs in Faridabad provide gold loans with competitive interest rates and minimal documentation. Loanpao helps you compare lenders, check eligibility, and apply seamlessly for a gold loan in Faridabad.
Eligibility Criteria for Gold Loan in Faridabad
| Criteria | Details |
|---|---|
| Age | 21 to 70 years |
| Residency | Must be a resident of Faridabad with valid address proof |
| Gold Quality | 18 to 24 carat gold jewelry (no gold bars or coins) |
| Ownership | Applicant must own the gold jewelry |
| Income | No minimum income required |
Documents Required for Gold Loan in Faridabad
- Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
- Address Proof: Utility bill, Aadhaar, or Rental Agreement (Faridabad address).
- Gold Ownership Proof: Purchase receipt (if available).
- Photographs: 2 passport-sized photographs of the applicant.
Benefits of Gold Loan in Faridabad
- Interest rates starting at 7.5% per annum in 2025.
- Loan amounts up to ₹50 lakh, based on gold value.
- Minimal documentation and no credit score requirement.
- Flexible repayment tenures from 3 months to 3 years.
- Instant disbursal within 1-2 hours with Loanpao’s support in Faridabad.
Factors Affecting Gold Loan in Faridabad
Gold Purity
Higher carat gold (22-24K) fetches better loan amounts.
Market Gold Price
Loan amount depends on the current gold market rate in 2025.
Loan-to-Value (LTV) Ratio
Up to 75% of gold value as per RBI guidelines.
Lender Policies
Some lenders offer higher LTV or lower rates in Faridabad.
How to Apply for a Gold Loan in Faridabad
Follow these steps to apply for a gold loan in Faridabad through Loanpao:
- Visit loanpao.in and select "Gold Loan in Faridabad."
- Complete the online application form with personal details.
- Upload required documents (Aadhaar, address proof).
- Schedule a gold valuation at a Faridabad branch or doorstep service.
- Get approval and disbursal within 1-2 hours.
Loan Eligibility for Gold Loan in Faridabad
Check your eligibility for a gold loan in Faridabad with Loanpao’s eligibility tool:
- Enter personal details (age, residency).
- Provide gold details (weight, carat).
- Include Faridabad address proof.
Loanpao will assess your eligibility instantly and guide you through the application process in Faridabad.
Check Eligibility NowTrack Your Gold Loan Application in Faridabad
Loanpao offers a seamless tracker for your gold loan application:
- Submit your application ID on the Loanpao Tracker page.
- Monitor real-time updates (e.g., gold valuation, approved, disbursed).
- Receive notifications for valuation or disbursal in Faridabad.
- Contact Loanpao support for assistance with delays in Faridabad.
Gold Loan Comparison in Faridabad
Compare popular gold loan options available in Faridabad:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| Muthoot Finance Gold Loan | 7.5% p.a. | Up to ₹50 lakh | 3 months to 3 years | 0.25% of loan amount |
| HDFC Bank Gold Loan | 8.0% p.a. | Up to ₹40 lakh | 6 months to 2 years | ₹500 flat |
| SBI Gold Loan | 7.8% p.a. | Up to ₹30 lakh | 3 months to 3 years | 0.5% of loan amount |
Frequently Asked Questions
Individuals aged 21 to 70 who own gold jewelry and reside in Faridabad can apply.
Interest rates start at 7.5% per annum, varying by lender and gold value.
Approval and disbursal typically take 1-2 hours after gold valuation.
No, gold loans do not require a credit score as they are secured by gold.
The maximum tenure can extend up to 3 years, depending on the lender.
Yes, Loanpao offers an online application process with doorstep gold valuation in Faridabad.
Gold jewelry of 18 to 24 carats is accepted; gold bars and coins are typically not eligible.
The maximum loan amount can go up to ₹50 lakh, based on gold value and LTV ratio.
Yes, gold valuation is mandatory to determine the loan amount based on purity and weight.
Yes, most lenders allow prepayment with no or minimal charges, subject to loan terms.