What is a Gold Loan?

Gold loan is a secured loan wherein the borrower would be mortgaging gold property, let it be jewelry, coin, or bar, at the NBFC or bank and receive cash in lieu. The money approved would be corresponding to the gold pledged at the NBFC. The amount can vary depending on the finance firm you approach, as different NBFC/ bank/vendors put different values for the gold.

Manappuram Gold Loan Features

Manappuram gold loan is probably the best secured loan that you will find out there. In fact the so many features and benefits make it a hotcake among loan seekers. Let's have a look at these:

Quick Approval

Instant loan approval is the main feature of a gold loan. Borrowers don’t have to wait expecting approval from the higher-ups in the bank or NBFC in the case of a gold loan. It would be approved and money handed over after confirming the identification details of the individual, examining the application, and analyzing the purity of the gold.

Easy or No Documentation

You cannot say that there is no documentation for a gold loan at all. Individuals applying for a gold loan have to fill an application, attach the ID and address proof, and submit. That’s it. The lender would verify the details and notify the borrower of the amount receivable for the particular quantity of gold. Once the client agrees to the same, the money would be issued without any further delays.

Secured Loan 

Imagine the complexities involved when you approach a bank or NBFC for a personal loan or business loan. The main factor that would decide the eligibility of an individual is a credit score or CIBIL score. The lender would scrutinize the credit history to ascertain whether the individual is trustworthy or not. Although the past conditions cannot determine one’s present status, the finance firms will consider credit score as the benchmark. A gold loan is a secured loan, in which you would be pledging gold. Hence, the lender need not check the credit history or CIBIL score of the borrower. This feature of the gold loan helps an individual to approach firms without any concern.

Gold Loan for Any Purpose 

Gold loan lenders will not ask the purpose of the finance. Most of the other loans need the individual to furnish the requirements. Moreover, those loans would be admissible for specific purposes only. A gold loan can be obtained for buying vehicles, renovating home, children’s schooling, finance needs for marriage, and so on.

Repayment Options

A vital feature of a gold loan is that the borrower can choose how to repay it. In the case of most of the other loans, the lender would decide the repayment process and EMIs. That is not the case here. NBFCs like ours, Manappuram Finance, offer four types of repayment options. The customer can choose the methodology and simply go ahead with it. This feature of gold loans helps individuals to plan the family budget accordingly. Furthermore, we have set up an online repayment feature as well.

Manappuram Gold Loan Interest Rate

Manappuram gold loan interest rate depends on the loan-to-value (LTV), hence a higher LTV will attract higher interest rates automatically. Assuming all other factors remain the same, a higher LTV loan will have higher interest rates than a lower LTV loan.

DetailsManappuram Gold Loan
Minimum Loan AmountINR 5,000
Maximum Loan AmountINR 1.5 crore
Interest Rate12.00% - 29.00%
Tenure90 to 365 days
Processing FeeINR 10
Overdue/Penal Interest3% per annum

Manappuram Gold Loan interest rates for different schemes

Manappuram allows you to get a gold loan under different schemes which are listed below. What’s important to note is the gold loan interest rate of all these different types of gold loan offering by Mannapuram.

Scheme NameLoan TenureSlabGold Loan Interest Rate(p.a)
In Kerala StateAnnualized Interest RateIn Other StatesAnnualized Interest Rate
GL-DS Scheme90 Days0 – 30 days12.00%22.03%12.00%22.03%
31- 60 days25.00%25.00%
61- 90 days28.00%28.00%
GL-SY Scheme90 Days0 – 30 days18.50%24.30%18.50%24.30%
31- 60 days25.00%25.00%
61- 90 days28.00%28.00%

Privilege Loan


90 Days0 – 30 days20.50%26.21%
31 – 60 days27.50%
61- 90 days29.00%

Express Gold Loan Plus


180 Days0 – 30 days22.00%29.19%26.00%29.94%
31- 60 days27.50%27.50%
61- 180 days29.00%29.00%

Super Loan Plus


270 Days0 – 30 days22.00%29.79%26.00%30.32%
31- 60 days27.00%27.00%
61- 270 days28.00%28.00%

Samadhan Plus


365 Days0 – 30 days22.00%31.15%26.00%31.57%
31- 60 days27.00%27.00%
61- 365 days28.00%28.00%
Swarna Shakthi (GL-SX)90 Days0 – 30 days(Applicable only in Tamilnadu, A&N and Pondichery)25.00%27.78%
31- 60 days27.50%
61- 90 days29.00%
90 Days0 – 30 days(Applicable only in Karnataka, Telangana, AP, J&K, Chandigarh, Punjab, Gujarat, Goa & Delhi)25.75%28.04%
31- 60 days27.50%
61- 90 days29.00%
90 Days0 – 30 days(Applicable only in **Tier 1 branches in Northern states)25.75%28.04%
31- 60 days27.50%
61- 90 days29.00%
90 Days0 – 30 days(Applicable only in Northern branches other than **Tier 1 branches)26.75%28.39%
31- 60 days27.50%
61- 90 days29.00%
GL B1+N90 Days0-30 days20.00%25.17%23.00%26.21%
31-60 days26.00%26.00%
61- 90 days28.00%28.00%
GL B1-N90 Days0 – 30 days19.00%23.43%20.00%23.78%
31 -60 days24.00%24.00%
61- 90 days26.00%26.00%
GL B2+90 Days0-30 days17.00%21.36%18.00%21.71%
31-60 days22.00%22.00%
61-90 days24.00%24.00%
GL H3+90 Days0-30 days15.00%19.29%15.00%<19.29%
31-60 days18.00%18.00%
61-90 days24.00%24.00%
Business Loan (GL BL)90 Days0-90 days24.00%24.48%24.00%24.48%
GL B4+90 Days0-90 days15.00%15.19%15.00%15.19%

** Branches in Mumbai, Mumbai City, Pune, Lucknow, Kanpur Dehat, Kanpur Nagar, Kolkata, Bhopal, Indore, Cuttack & Khordha districts in northern states are considered as Tier1 branches.

Manappuram Gold Loan Interest Rates for OGL Customers

With this facility provided by Manappuram Limited, you can get a gold loan from anywhere anytime without facing any trouble. You can opt for a loan amount as high as Rs 1.5 crores against your gold ornaments and jewelry.

FrequencyRebate Amount
4 repledges in every 15 days from the inventory created dateEffective Interest Rate – 12% p.a. (B.L. 9.9%)
3 repledges in every 15 days from the inventory created date4% interest Rebate
2 repledges in every 15 days from the inventory created date2% interest Rebate
2 repledge in every 30 days from the inventory created date (1st repledge must be in 1st 15 days & next repledge after that)1.5 % interest Rebate
1 repledge in every 30 days from the inventory created date1% interest Rebate

Manappuram Gold Loan Fee and Charges

Like any other financial service, here also there are different fees and charges of Manappuram gold loan for different amounts. To start with, the security charge ranges from Rs.15 to Rs.95 based on the loan amount except in branches of Kerala, Tamilnadu, Pondicherry, Telangana, Andhra Pradesh and Karnataka as mentioned below

Pledge AmountSecurity Charges
Up to 10000No Charges
>10000 to 50000Rs.15
>50000 to 1 LakhRs.30
> 1 Lakh to 1.5 LacRs.45
> 1.5 Lac to 2 LacRs.60
> 2 Lac to 5 LacRs.75
Above 5 LacRs.95

Auction Charges range from Rs.500 to 1000 based on the loan amount as mentioned below.

   Loan Amount    
Particulars0-1Lakh 1 - 2 Lakh2 Lakh & Above
Printing & Stationery50100150
Advertisement Charges150150150
Charges paid to auctioneer255050
Expense incurred for sorting,litting,and other auction related work150250425
Total Auction ChargesRs.500Rs.750Rs.1000

Gold Processing Charge

At the time of Loan SettlementRs. 10/- * (Rupees Ten only)
Additional Processing Fee on Repledge0.007%* of New Pledge Value(GST Extra)

Factors Affecting Manappuram Gold Loan Interest Rate and Loan Amount

Main factors that affect your Manappuram gold loan interest rate and also your Manappuram gold loan amount are as follows:

  • Loan amount - A higher loan amount will ask for a higher interest rate on your gold loan. So you can say that the rate of interest is directly proportional to the amount which you are asking.
  • Loan to Value (LTV ratio) - The percentage of loan amount to the value of gold jewellery also directly affects the interest offered to you. A higher interest rate is charged on loans that are against the value of the gold articles.  
    For example, consider that a bank approved your gold jewellery at Rs.50,000. Now, you will be charged a higher interest rate on Rs. 35,000 as loan amount in comparison to Rs. 25,000. This is because in the latter scenario the bank is much more likely to recover the loan amount and the applicable interest in case of default. This, in turn, reduces its risk in offering you the loan.
  • Purity and Quantity - This is the first validation that banks/lenders seek while giving you a gold loan. The purer your gold is the more valuable it will be. In turn a higher valuable asset will make you eligible for a higher amount and nominal interest rate as compared to getting a gold loan with less pure gold.
  • Repayment ability - Applicants with higher repayment ability are charged a lower interest rate as compared to applicants with a lower repayment capacity.

What is the Eligibility to Get Manappuram Gold Loan?

Manappuram gold loan eligibility is quite simple. Anyone having gold ornaments are qualified to get this gold loan provided they produce their valid ID card at the time of taking the loan. To obtain the loan you need to submit your gold jewellery (within a karat range of 18 to 24 k) at the branch. The loan amount that is sanctioned will be based on the valuation of gold which involves verification of its purity. The weight of stones etc. fixed on the ornaments will be deducted for the purpose of valuation because when you go for a gold loan, it is the gold that is valued and not any other item that is present on your ornament.

Compare Manappuram Gold Loan with Other Banks/NBFCs 

When you want to know the best gold loan bank then you need to compare among the gold loan rates and other features of all banks who are offering the best gold loan.

Gold Loan Interest Rate12% to 29%11.5% to 24%8% onwards9% to 15%
Processing FeeRs 10 to be paid at the time of settlementRs 50 with free registration for NACH0.25% of the loan amount, minimum Rs 5000.50% of the loan amount
Loan AmountRs 1000 to Rs 1.5 croresRs 1000 to Rs 8 lakhsRs 20,000 to Rs 50 lakhsRs 25000 to Rs 10 lakhs
Loan Tenure1 day to 3 months7 days to 36 months3 months to 36 months3 months to 24 months
Lowest per Lac EMIRs 3120Rs 3100Rs 3120Rs 4570
Foreclosure ChargesNilNilNilZero prepayment charges post 6 months
EMI schemeNoYesYesNo
Bullet Payment SchemeYesYesYesYes
Overdraft SchemeNoYesYesYes

Manappuram Gold Loan Customer Care

Manappuram Gold Loan customer care is very prompt and watchful when it comes to dealing with any kind of customer grievance.

Manappuram Gold Loan Customer care number

Call 1800-420-22-33 (Toll free)   

Mr.   Janakiraman N : 0487-3050574   
Mr.   Basanta Kumar Behera: 0487-3050112   
Mrs. Vijayalakshmi M.S : 0487-3050272   
Email : crm@manappuram.com   


You can also write to "Customer Services Cell", Manappuram House,  P.O Valapad, Thrissur District, Kerala, Pin 680 567

The authorities with whom you can lodge your grievances with escalation matrix are displayed in all Manappuram branches.

For any complaints not satisfactorily addressed or are remaining unresolved even after timely response from our end, they have an Arbitration mechanism in place to which the grievances may be escalated.  You may resort to the said Arbitration process as per the provisions laid down in the loan document. The present panel of Arbitrators is given below:

List of Arbitrators for Manappuram Gold Loan

Vijayan N.KArbitrator, Near Civil Station, Ayyanthole
K.V. MohanakrishnanArbitrator, Nambanath Building, Ayyanthole
P.C. Madhavan 2/4 Corporation Building ,Cherooty Road, Kozhikode
M.D. Sasikumar Lexus Partners, Beeta Plaza, Krishnaswamy Road, Near Padma Junction, Ernakulam

How to Apply for Manappuram Gold Loan?

To apply for Manappuram gold loan the procedures included are very simple. You have to first approach any Manappuram gold loan office which is nearest to your location. The lender will value your gold and calculate the maximum amount you can borrow. You will be required to fill a loan application for this and submit necessary documents such as copies of ID proofs and valid address proof. Once the value is calculated the money is instantly disbursed immediately.

Gold Loan offers from India’s most
trusted banks


Get Gold Loan with No EMI Option from Rupeek

Rupeek Gold Loans are instant secured loans with no EMI option at interest rate starting at 8.88% p.a. You can avail of emergency loan ranging from Rs 50000 to Rs 20 Lakhs against gold jewellery, coins & ornaments. With bullet repayment option you repay entire loan at the end of the tenure.

Manappuram Gold Loan FAQs

How much is gold loan per gram in Manappuram?


Manappuram offers gold loan per gram at Rs 3124 if the purity of gold is 22 carat

Who is better, Manappuram or Muthoot?


It purely depends on your eligibility and requirement. In the table below we have listed out some metrics across which we compared Manappuram gold loan vs Muthoot gold loan

Gold Loan Interest Rate12% to 29%11.5% to 24%
Processing FeeRs 10 to be paid at the time of settlementRs 50 with free registration for NACH
Loan AmountRs 1000 to Rs 1.5 croresRs 1000 to Rs 8 lakhs
Loan Tenure1 day to 3 months7 days to 36 months
Lowest per Lac EMIRs 3120Rs 3100
Foreclosure ChargesNilNil
EMI schemeNoYes
Bullet Payment SchemeYesYes
Overdraft SchemeNoYes

Is Manappuram Gold Loan safe or not?


Yes Manappuram gold loan is very safe as the financial institution keeps your ornaments in highly tech enabled secured lockers.

What is the interest of 1 lakh gold loan?


Taking the rate of interest to be 12% on 30 gm of 22 carat gold, the total interest that you pay on a Rs 100000 loan is Rs 1000.

What is Repledge in a gold loan?


There is no limit on how many times a customer can repledge their gold, which means the loan can be rolled over for as long as needed. Some banks and NBFCs also allow partial payments and early repayments without any penalties.

Why are Gold Loans preferred over Personal Loans?


Gold loans are secured loans whereas personal loans are unsecured. The gold loan requires a collateral deposit, where the gold itself is pledged against the money the customer receives, while in personal loans collateral deposits are not required. Gold loans allow greater disbursal amount; through the gold loan, you can draw up to 5 crores while personal loan allows disbursal up to just 40 lakhs. The lower interest rate of the gold loan is another feature that has convinced people to avail gold loan facilities widely for their financial requirements.

What is the impact on gold price fluctuations on Manappuram gold loan?


The effect of gold price fluctuation on gold loans are as follows:

LTV may get impacted – Loan to value ratio is determined based on the constant gold price. A frequent fluctuation of the gold prices will lead to frequently changing LTV. The creditors may decide to play safe and fix the value at a low rate. Therefore, the borrowers will be getting a comparatively low price during such times.

A High Price When You are Applying – As we have said initially, the gold price whilst purchase will not be considered while approving the gold loan. The current gold price will be used for deciding the value of the asset. The purity of the gold is the only thing that matters. The gold would be checked for purity and the value would be determined. Hence, even if you bought at a low price, you can get a high value.

Gold Price is Low When You are Applying – Even if you have purchased the gold when the price was high, if you pledge gold when the price is low, you will get a loan based on the lower price only.

How can I get a loan from manappuram gold online?


You can apply for a gold loan online by filling up the form at MyMoneyMantra.com under the gold loan section. Your requirement will be directed to an executive who will help you with all the process.

Do we need bank account for gold loan?


It's not mandatory if the loan amount is less than Rs 1lakh. But it will be easier to have an account beforehand for smooth transaction.

How can I know my Manappuram gold loan ID?


The Customer ID is recorded on the pawn ticket issued to customers by the branch at the time of availing the Gold Loan.

Is PAN card mandatory for gold loan?


No, PAN card is not mandatory to get gold loan.

What is pawn ticket in manappuram?


The receipt of the gold ornaments delivered by the borrower is also known as pawn ticket in Manappuram.

How can I cancel my Manappuram gold loan?


You can not cancel your gold loan but if you want to get rid of it then you surely can repay the outstanding amount to close the loan altogether.

How do I pay Manappuram?


You can pay Manappuram gold loan EMIs online or by visiting the branch.

What happens if the loan amount is not repaid on the due date?


You start incurring the penalty for missing out on your repayment. Normally it is 3% p.a. In case of Manappuram Gold Loan.