By Lal Singh Gold Loan is one of the most secure types of credit products around the world, and it is also the fastest-growing segment in India. From individuals to businesses, many opt for a gold loan to raise quick cash by offering gold ornaments or coins as collateral. Gold is also widely available and an easy-to-value option for banks and companies, as well, which reduces the risk of default.
Gold loans gained popularity among most people who need them because of simpler documentation, lower interest, ease of mind, and similar reasons. Compared to other metals, Gold is one of the precious metals, and its price is increasing day by day. Due to this, gold is a safe bet for banks as well. The gold loan market is large, but a handful of companies dominate it.
Let’s learn about the top 10 leading gold loan finance companies in India in 2025, which dominate the market with their size, presence, and features.
1. Muthoot Finance
Muthoot Finance is the largest gold loan NBFC in India, which dominates through its thousands of branches across many states and districts. Muthoot gained traction in the market through a very large portfolio of gold loans and strong brand trust among customers. As per FY2024-25 reports, Muthoot Group’s gold loan assets under management rose by significant numbers. Muthoot Finance also reported high income from interest because of rising gold demand.
2. Manappuram Finance
Manappuram Finance is the second-largest gold loan provider in India. It has a large customer base, many branches, and a strong presence in semi-urban and rural areas. Its growth has been steady because many people prefer NBFCs like Manappuram for quick gold loans. Interest rates at Manappuram are slightly higher in some schemes, especially for small-ticket gold loans. But its service and reach make it a trusted name.
3. IIFL Finance
IIFL is a modern name in the gold loan industry that partially offers digital gold loan products. This NBFC offers flexibility in loan amount and tenure as well. IIFL gained traction with simple but useful features in its app and website to attract customers through an omnichannel approach. In 2025 alone, IIFL appears in the top list of gold loan providers, considering the large volume it did this year. IIFL is thriving in the market with its competitive interest rates for people with good documentation.
4. HDFC Bank
HDFC Bank is one of the large banks offering gold loans. It provides gold loan products in many branches and also offers online or mobile options in some places. HDFC’s strength is in its banking network, customer trust, and often better customer service. Interest rates at HDFC are usually a bit higher than the lowest NBFCs in some cases, but the bank often has more stringent documentation and better safety of loan oversight. That attracts customers who prefer security over speed.
5. ICICI Bank
ICICI Bank is a major private bank in the Indian market that also offers gold-related products like loans and credit limits. This bank is known for its reputation in gold loans with better transparency, flexible repayment options, and good loan amounts. ICICI is the preferred choice among its customers because of the trust of a big bank, along with fast services. The interest rates are slightly higher, but these are reasonable if someone is raising money in a short period with flexible terms.
6. Canara Bank
A bank from the public sector that offers the lowest interest rates with hassle-free loan services in Gold is none other than Canara Bank. This bank has a wide reach in rural and semi-rural India as it provides gold loans under its jewel loan products. If someone needs a loan and needs it after some time, then submitting proper documentation to this bank will help in getting the loan in a reasonable period. The interest rate is the major reason that differentiates this bank from others.
7. Axis Bank
Axis Bank is a private bank that offers gold loan schemes. It often features in comparison tables for interest rates on gold loans. Some of its plans are attractive for people who can commit to a longer tenure. It also offers some digital service features. Because of its strong banking infrastructure in cities, it tends to attract more urban gold loan customers.
8. Federal Bank
Federal Bank is a regional bank that has a strong presence in some states and smaller towns. This bank offers gold loans at reasonable interest rates, which makes it highly competitive for smaller ticket sizes. Federal Bank is comparatively new in the market, and doesn’t have much exposure among most people, but this bank is gaining traction through word of mouth and quality services.
9. Bank of Baroda
Bank of Baroda is another public sector bank with gold loan products. It serves many customers, especially in states where its branch network is strong. It is often included in lists of top gold loan providers. Its interest rates are usually moderate among banks, and many borrowers prefer it when they already have accounts there.
10. State Bank of India
Under the Jewel Loan schemes, SBI has a big presence everywhere in the gold loan. SBI is the largest bank in India, and most people love the trust and the lowest interest rates, which make it a solid choice among customers. Even SBI is known for having the largest number of accounts and bank transactions, which makes things easier for SBI as it has the capacity to market gold loans at better prices.
Conclusion
These ten banks combined have a share of more than 80% in the gold loan market, which shows how important these providers are in 2025. NBFCs have changed the way banks used to operate, and these small banks are offering tough competition to the big names of the banking industry. If you or someone you know is looking forward to taking a gold loan, then considering the interest rate, how fast they can get money, the documentation required, the minimum eligibility criteria, and the safety of the gold pledged are some key points to take into consideration.