Short answer: Manappuram’s rates run from 9.90% to 24% depending on scheme and how often you pay interest, with a ₹30 fee and 5,000+ branches. IIFL starts at 9.72% (11.88% to 27% in its fee table) and allows tenures up to 24 months.
Last verified: 12 October 2026 from each company’s official website and, where marked, its Google Play listing. Rates and fees change; the lender’s Key Fact Statement (KFS) and loan agreement decide your actual terms. FundsTiger does not rank lenders.
Manappuram Finance vs IIFL Gold Loan at a glance
| Manappuram Finance | IIFL Gold Loan | |
|---|---|---|
| Type | RBI-registered NBFC (gold loan specialist) | RBI-registered NBFC (IIFL Finance) |
| Loan amount | From ₹10,000 to ₹5 crore | From ₹3,000; no fixed maximum |
| Interest rate | 9.90% to 24% a year by scheme and how often you pay interest; annualised 26.82% | From 9.72% a year (fee table: 11.88% to 27%) |
| Loan-to-value (LTV) | 85% up to ₹2.5 lakh; 80% for ₹2.5 to 5 lakh; 75% above | Up to 75% of market value (as stated on its page) |
| Processing fee and charges | ₹30 including tax, one-time at settlement | From ₹0, varies by scheme |
| Tenure | Up to 12 months | Up to 24 months |
| Repayment options | Interest monthly, every two months or quarterly, principal at the end; day-wise interest | Interest-only, EMI, bullet, part-payment |
| Gold accepted | 18 to 22 carat (one FAQ says up to 24) | 18 to 22 carat |
| Closing early | No foreclosure fee | Allowed any time; no foreclosure fee stated |
| Branches | 5,000+ branches | 2,800+ branches in 1,500+ cities |
| Online and doorstep | Online gold loan 24×7 | Apply online and book a branch slot; one branch visit to value the gold |
| Also worth knowing | Rate depends on how often you pay interest; No CIBIL requirement; free insurance on pledged gold | Top-up without closing the loan; Aadhaar and PAN only; no income proof |
RBI limits apply to every regulated lender: from April 2026, a gold loan for personal use can be at most 85% of the gold’s value up to ₹2.5 lakh, 80% from ₹2.5 lakh to ₹5 lakh and 75% above, with interest due at maturity counted for bullet loans. Lenders can lend less. Check how much your gold can raise with our gold loan calculator.
What a ₹1 lakh gold loan for 12 months would cost
We costed the same loan on each lender’s published rates, assuming you pay interest every month and repay the principal at the end. Paying interest less often, or compounding, raises the cost.
| Lender | Scenario | Rate a year | Interest for the year | Fees | Total cost |
|---|---|---|---|---|---|
| Manappuram Finance | Lowest scheme rate, interest paid monthly | 9.9% | ₹9,900 | ₹30 | ₹9,930 |
| Manappuram Finance | Same scheme, interest paid quarterly | 22% | ₹22,000 | ₹30 | ₹22,030 |
| Manappuram Finance | Annualised rate | 26.82% | ₹26,820 | ₹30 | ₹26,850 |
| IIFL Gold Loan | Lowest advertised rate | 9.72% | ₹9,720 | See charges above | ₹9,720 + any charges |
| IIFL Gold Loan | Highest rate in fee table | 27% | ₹27,000 | See charges above | ₹27,000 + any charges |
Key differences
- Rates: Manappuram 9.90% to 24% (annualised 26.82%); IIFL from 9.72%, up to 27%.
- Tenure: Manappuram up to 12 months; IIFL up to 24 months.
- Branches: Manappuram 5,000+; IIFL 2,800+.
- LTV: Manappuram states RBI’s 85/80/75% tiers; IIFL’s page says up to 75%.
Which should you choose?
Manappuram Finance may suit you if you want a published rate for each scheme and a branch nearby.
IIFL Gold Loan may suit you if you need more than 12 months to repay.
Whichever you pick, compare the APR in the KFS you are actually offered, not the advertised starting rate.
Before you apply
- Ask for the rate for your exact scheme and how often you must pay interest. Paying monthly is usually cheapest.
- Read the Key Fact Statement (KFS): it must show the APR, every charge and the total you will repay.
- Check the weight and purity recorded on your pledge receipt, and keep it safe.
- Know the auction rules: RBI requires notice before any auction, and the lender must return any surplus.
- Use our gold loan calculator to see the most you can borrow under RBI limits.
Want to see offers from several RBI-regulated lenders in one place?
Frequently asked questions
Why does Manappuram have three rates for one scheme?
The rate depends on how often you pay interest: monthly is cheapest, every two months costs more, quarterly the most.
Do I need a credit score for a gold loan?
Manappuram says there is no CIBIL requirement, and IIFL says no credit check is needed. Your gold is the security.
Are these lenders RBI-regulated?
The loans described here are given by RBI-registered NBFCs or banks named in the table. Check the lender named in your loan agreement on RBI’s digital lending app list.
Where do these figures come from?
From each company’s official website and, where noted, its Google Play listing, checked on 12 October 2026. Where a company’s own pages disagree, we show both figures.
Sources
Read more: IIFL Gold Loan app review · Manappuram Finance lender profile · IIFL Gold Loan lender profile · Gold loan rates of 10 lenders · Gold loan calculator · All loan app reviews · Lender directory
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Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.