What is the Interest Rate in Manappuram Gold Loan?

Loans are a known term in today’s world. A lot of people request loans for different purposes. Some people take up loans to repay their debt, to fund their kid’s education, marriage purpose, to purchase their dream car, or even to invest some gold. Loans are of two types Secured and Unsecured. Secured loans are where the bank or the lender depends on collateral as a security blanket. On the other hand, unsecured loans are one where there is no dependence on collateral whatsoever. Collateral means shares, jewellery or even gold. Gold is seen as security in all senses. Gold loans are more preferred over Personal loans. These loans are the most convenient form of loans. They are convenient because they have lower rates of interest and have longer tenure for the repayment of the loan. A great example of that will be the Manappuram gold loan

Manappuram Bank is a Kerala-based bank. It is a Non-Banking Financing Company (NBFC). A Manappuram gold loan is a secured form of loan like any other kind of gold loan. They offer interest rates starting at a minimum of 9.90%. The rate of interest differs depending on the loan scheme of the applicants or the borrower’s choice. They can vary from 14% to 26% if the gold loan is on a short-term basis. We in this article give you a review on Manappuram gold loan interest rate. 

Manappuram Gold Loan Quick Overview

To fulfil the urgent need for cash people often dive into the decision of applying for Gold loans. Manappuram Bank is a known and famous bank for lending great deals of gold loans. The selected lending plan determines the interest rate on the provided loan. At Manappuram, Gold loans application and approval are done with ease and quick along with minimal documentation. One of the perks of investing in a Manappuram gold loan is that free insurance would cover the gold articles. The gold articles must carry 18K purity before the deposit. Manappuram bank provides Gold Loans for several different purposes moulded into different schemes. 

Features of Manappuram Gold Loan

Let us have a look at the features that a consumer or applicant must present to obtain the gold loan. 

Minimal documentation 

Minimal documentation is one of the benefits of this Gold Loan scheme. Furthermore, this process is quick due to the lack of too many documents. You can submit the documents via a mobile application or through the bank’s website. 

Loan amount 

The bank is flexible in providing loan amounts. The loan amount can be provided up to 5 crores against the gold articles and ornaments. 

Interest rate 

The interest rate starts from 12%. The interest rates of the Gold Loan differ from scheme to scheme. 

The Gold articles 

The gold articles or ornaments that you want to deposit should be made of at least 18K or 24K gold or more. This will make you eligible for a gold loan. 

Tenure provided

The repayment tenure ranges between 3 months to 3 years, depending on the loan amount. 

Documents Required

The documentation required at Manappuram bank for Gold Loan is the shortest among all the other banks. 

  • Identity proof of the applicant (PAN card, Aadhar card, Driving licence, Voters ID)
  • Address proof of the applicant (Passport, Aadhar card, Electricity bills, Water bills, Gas bills)

Eligibility Criteria

After understanding the features and required documents for gold loans, let’s look into its eligibility criteria. 

  • The applicant or borrower should be at least 18 years and above. 
  • The applicant should have proof that the gold articles or ornaments belong to them.
  • The gold articles or the ornaments should at least be of 18 to 24 karat range to be eligible for deposition. 

How to Apply for Manappuram Gold Loan?

Let us have a look at the process of applying for a Gold Loan at Manappuram bank. The applicant can apply for the gold loan both online and offline


  • Find the nearest Manappuram Bank branch.
  • Fill out the application form for the gold loan given by the bank.
  • Submit the necessary documents to the bank.
  • Get your gold ornaments or articles approved by the bank officials. 


  • The applicant should download OGL, Manappuram’s online website for loans.
  • They should sign up their bank account
  • Search for “Gold loan”.
  • Then fill up the requested details.
  • Once the bank approves their application, they get the requested funds on their accounts. 

Gold loans are a reliable option as they do not ask for a lengthy documentation process, have a low rate of interest, do not require any income proof, and have flexible tenure for repayment of the loan. Manappuram bank is one of the most trusted banks when it comes to Gold Loans. Manappuram is best for the low-interest rates it provides. The flexibility of the available gold loan schemes only favours the bank’s reputation. 

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