The steps to apply for a gold loan include:
- Visit a bank and apply for a gold loan.
- Pledge your gold articles against the required loan amount
- Lender checks the purity of your gold
- Submit KYC documents
- Your loan amount will be granted and sent to your account if approved.
- Being collateral security, a soft credit check is done.
NOTE: Loan amount is typically up to 80% of gold value