Gold Loan Apps: Everything You Need to Know About

Last Updated : July 25, 2020, 12:20 p.m.

We Indians are obsessed with Gold, be it in the form of ornaments or coins. Gold has become an ideal liquid asset that can help you in situations where you are in urgent need of funds. But do you know that you can get a loan against your gold ornaments and Coins specially minted by banks and that too, at affordable interest rates? Several Gold Loan Mobile Apps are in the market with which you can easily apply for a Gold Loan from anywhere. You just need a smartphone and an Internet Connection.

The Gold Loan Mobile App helps customers in making the overall loan process completely hassle-free. Several dedicated gold loan lenders provide you the option to apply for a Gold Loan from their Mobile Apps. So, if you are unable to go to the branch and want to apply for a Gold Loan from your home only, these Gold Loan Mobile Apps can be a suitable option for you.

We will cover everything related to these Mobile Apps with which you can opt for a Gold Loan or make the payment of your existing Gold Loan. So, keep reading to know more about them!

Top Gold Loan Apps Available for You

As we told there are several mobile apps with which you can opt for a Gold Loan. Some of the leading ones are Rupeek, Manappuram, IIFL Gold Loan App, iMuthoot and Muthoot Blue Gold Loan App. We will tell you about each of them so that you can have a clear understanding of the gold loan process through these apps.

Rupeek Gold Loan Mobile App

Serving people at more than 2,000 locations across India, Rupeek is one of the best Gold Loan Companies in our country. Approved by the Reserve Bank of India (RBI) and backed by top banks like ICICI Bank, Karur Vysya Bank and Federal Bank, Rupeek helps customers in getting a Gold Loan at affordable interest rates. With the help of Rupee Gold Loan, an individual can save up to INR 12,377 per lakh when it comes to the Interest Amount.

The reason behind this is the affordable Interest Rates that range from 0.89% to 1.39% per month depending on the loan amount you want to opt for. You can choose the repayment period according to your convenience which is fixed at a maximum of 6 months. Rupeek provides several gold loan schemes according to the required loan amount. With the facility, you can get a loan amount as low as INR 1 lakh and as high as INR 20 lakh.

The best thing about Rupeek Gold Loan is that you don’t need to go anywhere if you want to apply for it. The process can be done from your home. Rupeek provides one of the best Gold Loan Mobile Apps with which you can get the required amount. So, how to apply for a Gold Loan with the Rupee Mobile App?

How to Use Rupeek Gold Loan Mobile App?

To apply for a Rupee Gold Loan via Mobile App, you only need to follow a few simple steps. We are showing all of them below. Have a look at them carefully.

• Download the “Rupeek” app from the Google Play Store. After downloading the app, you will need to fill in a few basic details such as your name and Mobile Number so that you can register on the app.
• After successfully registering yourself, you will see the “Gold Loan Request” option. On clicking this, you will reach the section where you will need to fill your requirements like Loan Amount, Loan Date and Time (when do you want the loan), and your Address.
• After filling these details, you will reach a page where you will see the Offers provided by the Rupee Gold Loan Mobile App. Choose a suitable offer for you and submit your Gold Loan request.
• After submitting the request, the representatives from Rupeek will contact you soon and visit your place to authenticate your gold.
• After the authentication process, the loan amount will be disbursed into your account. You can see all the steps of the process in the Rupee Mobile Application. Rupeek assures to provide the No Tension Gold Loans at your doorstep in just 30 minutes.

Other than this, you can also opt for the “Rupeek Quick” option with which you can get instant money in your account anytime you like. The interest will be charged on the utilized loan amount and not on the full amount. The Interest rate on the Rupee Quick Schemes is fixed at 1.39% per month with a maximum loan tenure of 6 months. After making the payment of your gold loan amount, your gold will be delivered at your doorstep the next day.

Manappuram Gold Loan OGL Lite

Manappuram Finance Ltd is one of the finest gold loan providers that has been helping customers to get the required loan amount for the last 70 years. Also, Manappuram is India’s first highest Credit Rates Gold Loan provider. This is one of the main reasons for its popularity among the customers. With the Manappuram Gold Loan , an individual can get the loan amount as high as INR 1.5 crore and as low as INR 5,000. However, the loan amount will solely depend on the overall gold value.

Manappuram Gold Loan Interest Rates usually range from 12.00% - 29.00% per annum and differ from one individual to another based on different factors. Interest rates will also depend on the loan-to-value (LTV) ratio. Higher the LTV ratio higher will be your interest amount. The repayment tenure ranges from 90 to a maximum of 365 days that you can choose according to your repayment capacity.

Apart from the Offline Method, Manappuram Finance Ltd. provides one of the best Gold Loan Mobile Apps with which you can apply for a Gold Loan without any trouble. This efficient app allows you to opt for a loan amount as high as INR 1.5 crore. So what is the best thing about this Loan Facility? Well, the freedom to apply for a Gold Loan from any part of the world makes this app as one of the popular Gold Loan Apps available in the market.

Apart from this, you will need to do the minimal documentation to get the instant approval and the loan amount will be transferred into your account. Also, when it comes to the repayment, it can be done anytime with the Manappuram Gold Loan OGL Lite. So how does this application work? Let’s find out!

How Does the Manappuram Gold Loan OGL App Function?

Well, the first thing that you will need to do is to visit the nearest Manappuram Finance Limited Branch to submit your gold ornaments so that the lender can assess their value and decide the maximum loan amount for you. After this, you will need to register for the Online Gold Loan (OGL) Service with which you need to link your savings bank account. After this, you can use the Gold Loan Mobile App to get the loan amount into your account anytime you need it.

The Manappuram OGL app can be downloaded from both Android and iPhone App stores. This wonderful app not only gives you the freedom to apply for the loan, but also lets you make the interest payment, check your loan statement, or even find the nearest branch of Manappuram Finance Ltd. To get the download link of this app, you can also leave your mobile number on the official website of the Manappuram.

IIFL Gold Loan App

IIFL Gold Loan is one of the most popular facilities among the customers through which they can opt for the required loan amount against their gold. The best thing about IIFL Gold Loan is that you can get a loan amount as low as INR 3,000 that can go upto INR 75% of the overall Gold Value. Also, you can use the loan amount for any of your financial needs without any restriction on the End-usage. IIFL Gold Loan Interest rates range from 9.24% - 24.00% per annum, which is one of the affordable interest rates in the market.

An individual can repay the loan amount within a tenure of 3 to 11 months according to his/her convenience. IIFL Finance also provides a mobile application through which you can do several things of which Loan Repayment is the primary thing. However, with this Gold Loan App, you cannot apply for a Gold Loan. To apply for a loan, you will need to opt for an Online or Offline Process.

How Does “IIFL Loans” App Work?

Suppose you have taken an IIFL Gold Loan and now you want to repay the loan amount but don’t want to go out of your home. So what are the options you have? Well, IIFL Finance provides this amazing Gold Loan App through which you not only make the payment of your loan amount but can also do several other things mentioned below.

• Get your Loan Account Summary
• Know your Complete Loan Account Statement
• Know your Outstanding Balance Amount
• Make Payments of Dues
• Get hands-on Interest Certificate
• Submit queries related to the Gold Loan

The “IIFL Apps” is available for both Android and iPhone users and can be downloaded from the AppStore. After downloading the application, you need to register yourself by feeding the Mobile Number and Date of Birth linked to your IIFL Gold Loan account.

Muthoot Gold Loan App

A Gold Loan from the Muthoot Finance could be a suitable option for you if you are looking to get funds urgently. Provided by one of the top NBFCs, Muthoot Gold Loan is quite a popular option due to the affordable rate of interest that ranges from 12.00% - 27.00% per annum. However, the final rate of interest depends on the overall profile of an individual.

One of the best things that an individual can get from the Muthoot Gold Loan is the extensive range of schemes that he/she can get. These schemes are the Blue Guide, Blue Bright, Blue Power, Blue Big, and Blue Smart Gold Loans.

The loan amount ranges from INR 1,000 to more than INR 8 lakh through its different schemes. You can choose the one according to your convenience. Muthoot Gold Loan can be applied via both Online and Offline. To apply via the Online method, Muthoot Finance provides one of the efficient Gold Loan Apps. This gold loan app is known as the Muthoot Blue Gold Online App. So, how does this app function?

How Does Muthoot Blue Gold Online App Function?

The Muthoot Blue Application is available to users of Android and iPhone and the app can be downloaded on the respective App Stores. So, after downloading the Gold Loan App, you will need to register on the app by feeding a few details like mobile number, email id, name, address, etc. You can also get the link to download this app by visiting the official website of Muthoot. There are several things that you can do with Muthoot Blue Gold Online App. We are showing all of those features below. Have a look!

• Check the Current Rate of Gold in the residing area
• All the Details about your Active Loan
• Interest and Principal Amount of your Gold Loan
• Maximum Gold Loan Eligible Amount
• Nearest Muthoot Finance Branch to you
• Gold Loan Account Statement
• Loan Amount Repayment via QR Code Scan
• Details of other Muthoot Financial Products
• Information about Blood Donors in your Area