Gold Loan in Mumbai – Apply for Gold Loan in Mumbai at Attractive Interest Rate | eJOHRI
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Gold Loan

Gold Loan in Mumbai

India’s financial capital, Mumbai, is a city that never sleeps. Amongst the hustle and bustle of the town, there are a lot of opportunities for you to earn money and receive it when you need it the most. If you’re facing a financial emergency and need funds, you can apply for a gold loan in Mumbai online to get the cash you need immediately.

A loan against gold is one where you give a bank or NBFC your valuable gold ornaments, and get a loan in return. Gold loans are given quickly and are hence a great way to get the money you need to clear bills, fund business or home expenses and make other unforeseen payments.

Mumbai has many national and international banks and NBFCs, so there are many places to get a gold loan. Fortunately, eJOHRI is here to streamline the process of getting an online gold loan in Mumbai. eJOHRI gold loan is your one-stop gold loan aggregator that helps you access loans from some of the top banks and NBFCs in Mumbai.

Major gold loan providers in Mumbai

eJOHRI has partnered with top gold loan providers within Mumbai. These financial institutions are the cream of the crop, so you can rest assured that your gold jewellery is in the right hands. Here are some of our esteemed gold loan partner institutions:


One of the leading and most recognizable private sector banks in India, it has a plethora of commercial and investment banking services. It boasts quick and safe loan disbursements within an hour. Additionally, their gold loan interest rates are the best, ranging from 0.83% to 1.25%. If you’re an existing HDFC bank customer, you require no documentation, which lets you apply for gold loan in Mumbai online with ease. You will be charged a processing fee of 1% on the loan amount.

Fincare Small Finance Bank

At this bank, you can supplement your income by availing a loan amount anywhere between Rs. 10,000 to 30 lakhs for a loan tenure of 6 months. The gold you hand over to Fincare is well-secured, and you get it back instantly after you repay your loan.

India Gold

With India Gold, you get the luxury of great interest rates ranging from 4.5% to 7.5%, and the highest gold per gram rate possible. They also offer the unique benefit of shifting your existing gold loan to their institution in order to save more money.

Mangal Credit and Fincorp Limited

Mangal credit helps you make the most of your gold with instant disbursements. They are also known for their wide range of loan amounts ranging from as low as Rs. 3000 to up to of Rs. 50 lakhs. You can pay back in loan within 12 months through affordable EMIs.


Another option to apply for a gold loan in Mumbai online is at IIFL. With their speedy loan approval process, you can apply for an amount between the range of Rs. 10,000 to 5 lakhs. Your ornaments are stored in their fire and burglary-proof lockers.

Muthoot Finance

Whether you require a loan for business or personal reasons, Muthoot Finance will have a loan plan for you. You can get a loan ranging from Rs. 20000 to up to Rs. 50 lakhs to fund your financial needs.

Eligibility criteria for an online gold loan

If you want to get an online gold loan in Mumbai, you’ll have to meet certain eligibility criteria. Here’s a simple list to help you check your eligibility.

  • Age: 18 years and above.
  • Profession: Business owners, entrepreneurs, unemployed, pensioners, homemakers, salaried professionals, etc.
  • Minimum Income: Nil
  • Quality of Gold: 18 KT and above. The minimum weight of gold should be 10 grams.
  • Documentation required: Aadhar card, pan card, driving license, voting card, rent agreement.

How to apply for a gold loan in Mumbai online

The process to get this type of loan has been purposefully designed so that you can attain an online gold loan in Mumbai within a day. Here’s what you have to in order to get this amount when you’re in this city.

First, fill out the loan application form on the eJOHRI website with basic details like name, contact details, location, and the loan amount you need. A representative from eJOHRI will contact you to help you pick the best loan provider from our comprehensive list of options.

Once you decide the bank you want to avail the loan from, you can communicate your choice to the eJOHRI representative based on the interest rate and other details. Next, a representative from the bank you’ve chosen will reach out to you to get the process started.

Depending on the institution, you may have to visit the bank, or their employees will come to your location to verify and weigh your gold and check your documents. As mentioned above, you will need to keep your ID and address proof documents ready. Once your documents and gold are verified and valued, the amount will be credited to your bank account.

The process of applying for a loan becomes very easy at eJOHRI as we have a dedicated customer support team to guide you through every step. Feel free to clear any doubts you may have with our representatives. They will also suggest the best loan to apply for, so you can make the most of this golden opportunity.

Features and benefits of gold loans in Mumbai

Gold loans is a secured loan where the borrowers pledge gold jewellery in exchange for an amount which is a certain percentage of the gold’s value on the market. You can pay for it through easy EMIs. However, it has a lot of advantages that make it one of the best options for a short-term loan. Here are a few reasons why you should apply for gold loan in Mumbai online:

  • Easy to obtain: Most banks have restrictions over who can take out a regular loan. But almost any adult can take out a gold loan as they don’t require any income proof.
  • Flexible repayment: There are many ways to pay back this loan. You can choose to pay only the interest as EMI, and the principal at the end of the duration. If you choose the bullet repayment option, you only have to return the money plus interest at the end of the loan.
  • Quick disbursement: Within just a day, you can get the money into your savings account. In fact, some banks send the amount in just a few hours.
  • Safety of collateral: Instead of selling your hard-earned gold ornaments to an unknown entity, you can loan them to financial institutions as they take good care of your assets and store them in high-security vaults.
  • Minimal paperwork: You don’t need to show income certificates, bank statements, educational degrees, and tax returns in order to get a loan.
  • Easy repayment estimation: Many banks and NBFC websites, including the eJOHRI portal, have a dedicated gold loan EMI calculator so you can figure out how much you need to set aside each month.
  • Low processing fees: Processing fees are very low compared to personal loans.
  • High Loan to Value Ratio (LTV): Banks can allow you to borrow up to 75% of the gold value as per RBI’s guidelines.

Gold loans for defaulters in Mumbai

Most regular home, car, and educational loans only grant the amount when the borrower has a good CIBIL score. This can be very limiting for those going through financial difficulties and who have defaulted on loans in the past. This is why many people like to apply for an online gold loan in Mumbai. Even if you have a poor credit score, you can apply for a loan and get the required amount. Additionally, you can take the loan, repay it on time, and boost your credit score. Gold loans have a flexible payment structure, making it easy for you to pay back the loan amount through EMIs.

Frequently Asked Questions (FAQs)

Repaying a gold loan is as easy as getting it. Some banks allow you to pay your loan through NEFT transfer, a debit card, or a credit card. Keep in mind that a few NBFCs or banks might not accept the latter option. You can even download the bank’s app, sign in, and pay your instalments regularly in just a few minutes. If you like to do things the old-fashioned way, you can visit any of the bank branches in Mumbai and personally deposit the cash or a dated cheque. Before you apply online, you can ask our customer support team about the payment options for each institution.

The EMI calculation process is very straightforward. You need to enter the gold loan amount, interest rate, and duration, and the calculator will estimate how much you need to pay each month. A high interest rate leads to higher EMIa, while a longer loan duration usually reduces your monthly EMI amount.

Through eJOHRI, you can get quick, hassle-free gold loan. You can also:

  • You can apply for loans in 3 simple steps
  • You can compare interest rates, loan processing fees and repayment tenures offered by different financial institutions to choose a budget-friendly loan against gold.
  • Enjoy quick and easy doorstep valuation and documentation so that you don’t have to run around to get this done
  • You can get your loan processed by paying a very small fee of 0.50% to 1%. Some of our partners also offer waivers on loan processing fees.
  • To make it easy for you to pay back your loan, our partners offer flexible EMIs. You can also pay the loan before its payment tenure without having to pay prepayment charges.