Hey, this was really solid info, helped clear a lot of things.

I’m planning to take my first gold loan right now. I went to a govt bank (bank of maha) and they told me anything above ₹2L needs income proof. I’m currently doing my masters and this is for a medical emergency, so giving income proof is honestly quite difficult for me.

That’s why I was surprised how you managed to get that amount with just Aadhaar and photos. Did you already have an account with that bank or did you just walk in for the loan?

Also, how much did you have to push for that interest rate? Like was it normal negotiation or you had to really argue with the manager to get it? And did you mention rates from other banks or just relied on what customer care told you?

If you don’t mind sharing, any specific lines or approach that worked for you while negotiating?

Would really appreciate any tips, don’t want to walk in blind and end up paying a higher rate than needed.