Our Products

Gold Loan

Gold Loan is one of the Essential Loans people get against Gold Jewellery. It fulfils the requirtment for cash whenever possible, it is a great way to meet your sudden money requirtment. Avail a safe and convenient Gold Loan for any financial requirement, be it a Medical Emergency, Business, Agriculture, or Personal needs or whether you need to fund a for Wedding, Family Vacations or your Child's Education.
There's an ease of getting a Loan Against Gold in just 15 minutes. So enjoy quick Gold Loan with our Nearest Surjit Finance Branch in Your City.

Gold Loan Enquiry Form

Why Choose It..

  • Features and Benefits

    • Upto 75% of the Gold Item’s Value.
    • Loans Disbursed in 15 minutes.
    • Free Insurance of Your Gold.
    • Part Payment Facility.
    • Nominal Processing Fee.
    • Minimum Documentation.
    • Maximum Rate Per Gram.
    • Part Release Facility.
  • Charges and Limits

    Margin 25%
    Maximum Repayment Tenor Tenure of up to 36* Months
    Collateral Security Yes
    Processing Charges Nominal Processing Fee has to be Paid in Availing a Gold Loan
    Documentation Charges Nil
    No Hidden Charges
  • Interest Rate

    Product Name Rate Of Interest
    Surjit Gold Loan Minimum 0.85%*

    Rates Vary According to the Amount and Tenure & Purity

Frequently Asked Questions

  • 1) What is a gold loan ?

    Gold loans are secured loans where the customer pledges the gold ornaments they hold as a collateral deposit against the money they are going to receive. Gold loans are usually taken for short term financial obligations.

  • 2) Why Gold loans are 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 80 lakhs 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.

  • 3) How to apply for a gold loan ?

    Procedures included in the application for a gold loan are very simple. You have to first approach a lender; 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 and you can use it for your intended purpose immediately.

  • 4) Who can apply for a gold loan ?

    Anybody over the age of 18 can apply for a gold loan provided he or she is the actual owner of the ornaments they present. The banks are not required to consider factors such as income, age, credit score, banking history, etc.

  • 5) Who is eligible to avail Surjit Finance Gold loans ? What security has to be provided ?

    Anyone who owns gold ornaments can avail the loan. (Note: minors are not eligible.) 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 gold valuation which involves verification of its purity. The weight of stones etc. fixed on the ornaments will be deducted for the purpose of valuation.

  • 6) What is the rate of interest charged on such loans ? How is the interest calculated ?

    Our base rate of interest is 12 percent. However, depending upon how high the loan to value (LTV) is, additional interest (amounting to risk premium) ranging from 3-18 percent is charged over and above the base rate.

  • 7) What is the tenor of such loans ?

    Our gold loan products have a tenor of 3 months – 12 months. Customers are counselled to service the interest on a monthly basis, to avoid risk of default.

  • 8) How long will it take for me to get my gold loan ?

    Once you submit your application form and supporting documents, we shall give approval within a matter of minutes provided everything is in order. All loan approvals are at the sole discretion of the branch head.

  • 9) Are the pledged gold ornaments safe and secure with Surjit Finance ?

    Gold ornaments accepted as pledge by the customers are stored at the branches in strong safe / strong room built to the standards and specifications applicable to commercial banks. The pledged gold ornaments are insured for full value. Moreover, electronic surveillance technology is deployed to protect the gold.

  • 10) Do I require a Guarantor or Introducer for availing Gold loan ?

    No. Unlike other loans, there is no need for either a Guarantor or Introducer and However, we recommend transactions through bank account, as it comply regulations.

  • 11) How do I repay my Gold loan ?

    You repay the loan at the end of the loan tenure or EMIs every month. However, interest has to be serviced periodically, as per the terms of sanction. Repayments can be made in cash, or Online Payments by cheque or DD. Enquiries about outstanding amount etc. can also be made at Branche’s & website login. However, the pledged ornaments will be released/handed back only at the branch from where the loan was originally availed. We have also enabled online payment of interest and repayment (full or partial) of principal. Instructions on how to make such online payments are given on ONLINE GOLD LOAN section of this website.

  • 12) Is there any maximum and minimum limit for availing Gold Loan ? What about the tenure of the loan, lock-in period, and prepayment penalties ?

    Surjit Finance Gold loans may be availed for any amount between Rs.3,000 to a maximum of Rs.60 lakhs. Loan requests more than 60 lakhs shall be considered with special approval of management. Loans are available for periods 3 months to 12 months.

  • 13) Whether partial payments of loan and interest are accepted ?

    Customers are free to repay part amount of loan and/or accrued interest thereon at any time in order for payments.

  • 14) How can customers settle the loan account and get back the gold ornaments ?

    The customer has to submit the pawn ticket (given to them at the time of taking loan) to the counter staff at the branch with a request to close the loan account. The staff will enquire into your account in the (computer) system and inform you of the outstanding loan amount (principal + interest accrued). By depositing the outstanding loan amount with up-to-date interest, the loan account is closed. The branch head then hands over the ornaments to the customer against his/her acknowledgement.

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

    In case loan amount is not repaid on or before the due date, penal rate of interest is liable to be charged on the loan amount from the due date of loan.

  • 16) Is there a possibility of damage to the ornaments at the time of appraising ?

    Appraising is done in the presence of the customer only. Due care is taken during appraisal to ensure that there is no damage to the ornament during any stage of appraising or storing.

  • 17) What are the things that people should keep in mind while taking a gold loan ?

    The most important things from the customer’s perspective are transparency, security and choice of loan product to suit individual requirements. Transparency would help the customer see for himself what he gets in return for what he pays. Security is about how well the gold is physically secured, and also about the internal systems and procedures at the company which ensure that there is no scope for any mala fide actions after the jewellery has been pledged. The choice of loan products should cover the range from high LTV (loan to value) to low LTV, with appropriate variations in interest rates. At Surjit Finance, you will find that all these aspects are well taken care of.

  • 18) What makes Surjit Finance different from other providers of gold loans ?

    In addition to the transparency, security and range of its gold loan products (as mentioned above), Surjit Finance distinguishes itself from others primarily on the basis of the ease with which gold loans can be availed from our branches. The only requirement is that borrowers present themselves at our branches with the gold jewellery and with a valid ID and address proof. Our streamlined systems and procedures ensure that a gold loan can be availed in a matter of minutes. Also, we offer the highest LTV to those interested in availing the maximum amount of loan against their jewellery. We are able to do this because with our long experience in the business, we have acquired the capability to handle the extra risk involved.

  • 19) What are some of the gold loan schemes that Surjit Finance offers to suit its customers from different income groups ?

    Our gold loan schemes fall broadly into following categories:

    • a) High loan to value: These schemes offer the maximum amount of loan per gram. At the same time, in keeping with the extra risk, the interest cost to the borrower is higher. Typically, such schemes will have a tenure of 3 – 12 months.
    • b) Low interest rate: In this category, the interest rates are lower but the Loan to Value (LTV) is also comparatively less.

    Our products are tailored not to the income group of the customer, but to relevant considerations like how much loan customers would like to avail against a given item of jewellery, and their comfort levels with respect to the interest rate and periodicity of repayment of interest and principal. Incidentally, gold loans can be availed at our branches for amounts as low as a three thousand rupees and as high as 60 lakhs rupees & even above 60 lakhs as exception.

  • 20) In case of default, when will the gold jewellery be auctioned off ?

    In case of persisting overdue, the ornaments are liable to be auctioned but only after giving sufficient notice to the borrower. Surjit Finance serves a reminder to its overdue accounts apart from periodic SMS reminders to our customers to alert them to the overdue in the account. Moreover, we also send auction intimation prior to the auction.