What are Gold Loans?What are Gold Loans?  

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Gold loans or gold deposits are loans Gold loans or gold deposits are loans given by banks/ NBFCs by taking gold as given by banks/ NBFCs by taking gold as a security. a security.

So instead of keeping that gold jewellery So instead of keeping that gold jewellery lying idle in the locker, one could use them lying idle in the locker, one could use them to meet cash contingencies. to meet cash contingencies.

In a typical loan against gold transaction, In a typical loan against gold transaction, only interest needs to be paid during the only interest needs to be paid during the tenure of the loan and the principal tenure of the loan and the principal amount has to be repaid at the end of the amount has to be repaid at the end of the tenure. tenure.

This allows the borrower to manage cash This allows the borrower to manage cash flows better. flows better.

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