Manappuram Gold Loan Review – Is it Safe?

Manappuram gold loan is provided by Manappuram Finance Limited which is an Indian non-banking financial company based in Valapad, Thrissur, Kerala. The company has over 4190+ branches across 25 states. In this article, we will review the Manappuram Gold Loan, its features, and explore its pros and cons, along with some alternatives and frequently asked questions. 

Manappuram Gold Loan review

About the Company

Manppuram Finance Ltd. is a professionally run company promoted by Shri V.P. Nandakumar who controls approximately 35% of the total equity of the company. A similar share is held by various Indian and foreign private equity funds while the balance is dispersed among the public.

The shares of the company are traded on both the BSE and NSE. The company is managed by a Board consisting of eleven directors headed by Shri Jagdish Capoor, Chairman. Shri Capoor is a former Deputy Governor of the RBI. Shri V.P. Nandakumar is the MD & CEO of the company. It was the first non banking financial company in Kerala to receive a Certificate of Registration issued by the RBI.

The company’s vision is to become the preferred choice of financial services partner for India’s aspiring classes, meeting the full range of their credit requirements, and helping India become a financially inclusive society where every citizen has ready access to formal channels of finance. And their mission is bringing convenience to people’s lives and making their lives easier. 

Manappuram Finance Ltd. Offers gold loans uppto Rs1.5 crore against your gold jewelry and ornaments. The interest rate lands between 9.90% p.a. to 24% p.a. with a tenure of 6 to 12 months. You can calculate how much loan amount you are eligible for against your gold ornaments by using the Gold Loan Calculator available on the website of Manappuram Finance.

Just enter some basic details such as your name, phone number, email address, state, city, type and weight of gold, and the tool will calculate and display the maximum amount you can avail as a gold loan from Manappuram Finance. Security charges ranges from Rs.15 to Rs.95 based on the loan amount except in branches of Kerala, Tamilnadu, Pondicherry, Telangana, Andrapradesh and Karnataka as mentioned below;

Pledge Amount Security Charges
Up to 10,000No charges 
>>10,000 to 50,0000Rs. 15
>50,000 to 1 Lakh Rs.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

Eligibility Criteria for Manappuram Gold Loan

The eligibility criteria one will have to fulfil in order to apply for a gold loan from Manappuram are:

  • Anyone except a minor who owns a gold ornament or jewelry can apply for a Manappuram gold loan.
  • The gold ornaments should be within a karat range of 18k to 24k to be eligible for a gold loan.

Documents Required

Availing a gold loan from Manappuram Finance requires minimal documentation. You just need to furnish a few documents to avail a gold loan like –

  • Proof of Identity – passport, Voter’s ID, Driving License, PAN Card etc.
  • Proof of Residence – Driving License, Passport, Aadhar Card, etc.

Loan Procedure

Gold loan processing and approval procedures would differ according to the gold loan companies and gold loan banks. A loan against gold is a secured loan, hence requiring minimal documentation only. The traditional gold loan procedure is similar in most gold loan companies and gold loan banks. The steps to get a gold loan are-

  1. Submission of Application
  2. Documents 
  3. Hand over the gold 

Manappuram Gold Loan Review with Advantages

  • High Loan Amounts – You can avail a loan up to Rs.1.5 crore on availing a gold loan from Manappuram.
  • Multiple Schemes to Choose from – You have the option of choosing from multiple gold loan schemes offered by Manapurram Finance Limited based on your financial requirements.
  • Loan Sanctioned with Minimum Requirements – You require minimum documentation to get your loan sanctioned. You will be required to submit one recent ID, like your Voter ID, Ration Card, Driving License, Passport, etc. and a proof of residence.
  • Quick Loan Processing – Your loan gets approved within minutes provided you have submitted all the necessary documents.
  • Low Interest Rates – The interest offered starts as low as 12% based on your loan amount and gold loan scheme chosen by you.


  • if you are unable to repay the loan, the lender upholds the legal right to liquidate your gold to recover the money
  • LTV ratio varies from lender to lender.
  • Prices are constantly fluctuating 
  • Have to pledge the gold ornaments as collateral with the lender until complete repayment of the loan. If the lender is not reputed or experienced, you could risk losing your gold to theft.
  • The lender could ask you to repay the entire amount in single EMI if the value of gold falls sharply in the domestic market. 

Manappuram Gold Loan Alternatives

Also, if you want a personal loan instead of gold loan, there are several alternative apps to consider. Some popular options include Cashbean, Stashfin, Kissht, and EarlySalary.

Visit ThinkMoneyTrader for more financial bytes like this.

Frequently Asked Questions (FAQs)

Q1. What is a gold loan?

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

Q2. Who can apply for a gold loan?

Ans. 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.

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