Instant online approval. Apply online and get approved in 3 working days

Loan amount from Rs 50,000 - Rs 30 Lakhs

Flexible repayment tenures between 1 to 5 years

Apply for Gold Loan

    Features of Gold Loan

    Easy Finance

    Avail easy gold loan to finance for education, medical emergencies, traveling and so on.

    Security

    The gold you deposit is the only security you need.

    Flexible Tenure

    Flexible tenure ranging from minimum 3 months to maximum 48 months

    Simple loan process

    Not all loan processes are complicated. Enjoy simple gold loan processing at MAKS Finserv.

    No hidden charges

    Read about the fees and charges on your business loan and stay informed.

    Money in bank instantly

    Get your business loan amount on the same day of approval.

    Calculate EMI with MAKS Finserv Gold Loan EMI Calculator

    EMI:

    0

    Total Interest Payable:

    0

    Total of Payments (Principal + Interest):

    0

    Personal loan eligibility criteria

    Nationality

    Indian

    Age

    Must be minimum 18 years, maximum 75 years

    Security to be pledged

    Gold ornaments or articles

    Total carats

    18 carats and above only

    Income

    No minimum income required

    Employment

    No minimum income required

    Documents required

    • Duly-filled application form
    • Passport sized photographs
    • Identity proof
    • Address Proof
    • Signature Proof
    • Form 60 or PAN card
    • Proof of age
    • Post-loan disbursement documents, if any.

    Current Gold Loan interest rate, fees and charges

    Types of fees Charges applicable
    Interest rate Low interest rates starting from 6.70% p.a.
    Processing fees This is a one-time non-refundable fee that is to be paid to the business loan provider after the loan application has been approved. The processing charge varies depending on the loan scheme you are applying for.
    Penal interest Loan providers also charge a penalty on delayed repayments i.e., if you fail to make your Equated Monthly Instalments (EMIs) or Pre-EMIs on time. The defaulting charges vary from one bank to another.
    Prepayment charges Prepayment penalty is the fee you will have to pay the lender if you plan on repaying your home loan before the completion of the loan tenure.
    Cheque dishonor charges The fee is levied when the loan provider finds that a cheque issued by the borrower is found to be dishonored due to reasons such as insufficient funds in the borrower’s account.

    Types of personal loan interest rates

    Personal loans come with two types of rates of interest: Fixed interest rate and floating interest rate.

    1. Fixed interest rate
    As the name suggests, the interest rate remains the same throughout the loan tenor. Thus. the loan E Ils will also remain constant.

    2. Floating interest rate
    A floating, adjustable, or variable interest rate is linked to an internal benchmark of a financial institution. Changes to this benchmark will affect the rates. Hence, floating rates vary throughout the loan tenor.

    Both of these rates have advantages and disadvantages. Fixed rates keep ENls constant, which helps in budgeting. On the other hand, floating rates go up or come down along with the internal benchmark rate.

    Methods for Interest Calculation on Personal Loan

    1. Flat rate method
    In this method, the applicable rate of interest is charged on the entire principal throughout the tenor.

    2. Reducing balance method
    In the diminishing balance or reducing balance method, the applicable rate of interest is chargeable on the outstanding principal after each EMI is paid off. Thus, the interest is calculated every month on the loan balance. Borrowers pay lower interest on the loan compared to the flat rate method.

    Interest rate calculation formula

    The interest rate for a personal loan through the flat rate method and the reducing balance method is calculated using the following formula:

    1. Flat rate method
    The rate of interest is chargeable on the entire loan principal. The formula for this method is — ENI = (principal + total interest payable) / loan tenor in months Wherein, total interest payable = P x r x n/100

    Contact MAKS Finserv Customer Care

    If you are a new customer who is looking for information about the
    MAKS Finserv Gold Loan

      Frequently Asked Questions

      A gold loan is a method of availing finance/loan against your gold ornaments or jewelry such as bangles, necklaces, bracelets, earrings, pendants, watches, gold coins, etc.

      Any Indian citizen can avail a gold loan from banks or non-banking financial institutions (NBFCs) and generally the age criteria range from a minimum of 18 years to a maximum of 75 years. This might vary from lender to lender.

      You can either directly walk into a branch to make a cash payment or pay online using the company’s web portal. Based on the lender’s terms and conditions, you may be able to make the payment with your debit card, credit card, etc. Kindly contact your lender for more information on the same.
      If you don’t repay the loan amount within the due date, the lender will levy a penalty on the overdue loan amount. If you do not repay the loan amount even after multiple reminders, the lender may auction your gold ornaments to recover the amount that is due.

      This will vary based on the lender’s terms and conditions. Certain lenders may allow you to pre-pay the loan amount at any time, without having to pay a fee for the same. In some cases, certain financial institutions and banks will require you to pay a certain fee if you want to pre-pay the loan amount.

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      Contact us today to learn more about MAKS Finserv or to seek any financial assistance related to loans, insurance, investment and credit cards.

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