Demand for gold loans is likely to increase as other loan standards become stricter

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Mumbai, Ta. Thursday, October 28, 2020

Demand for gold loans in the country is expected to increase as Corona-related lockdown opens and economic activity resumes.

Demand for gold loans from non-banking finance companies (NBFCs) and banks tightening underwriting standards for other loans, small businesses, etc., may increase, a rating agency report said.

Given the high price of gold, gold-loan asset under management for NBFCs could increase by 15 to 18 per cent in the current financial year. Due to the lockdown, loan disbursements were slow in April and May of the current financial year.

Compared to other loans, it is easier for lenders to recover and repay gold loans. Recovery in unsecured loans remains challenging.

The report estimates that the amount of gold loans disbursed has more than doubled in the second quarter of the current financial year. The Reserve Bank has also recently relaxed the loan-to-value ratio for gold loans.

Demand for gold loans on an individual basis is also on the rise due to the slowdown in economic activity due to the corona and high gold prices.


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