India’s gold loan market recorded significant expansion as of November 2025, according to CRIF High Mark’s CreditScape Report. The overall portfolio outstanding grew at a strong pace, supported by rising demand and greater lender activity.
Borrower demographics, origination trends, and asset quality indicators point to continued momentum in this segment. The data highlights the increasing importance of gold loans within the country’s retail credit landscape.
India’s gold loan portfolio reached ₹15.6 lakh crore in November 2025, marking a 41.9% year‑on‑year increase from ₹11.0 lakh crore in November 2024. Gold loans accounted for 9.7% of the overall retail lending portfolio during the period.
Their share rose from 8.1% a year earlier, reflecting rising borrower reliance on gold‑backed credit and increased participation from lenders. This made gold loans the fastest‑growing retail credit category during the period.
Active gold loan accounts rose to 902.6 lakh in November 2025, representing year‑on‑year growth of 10.3%. Asset quality remained stable, with early‑stage delinquencies recorded at 1.2% for PAR 31–90, 0.6% for PAR 91–180, and 0.3% for PAR 180+.
Priority Sector Gold Loans (PSGL) formed a substantial portion of the portfolio at ₹4.6 lakh crore, accounting for nearly 30% of total outstanding. These indicators point to healthy portfolio performance amid rapid expansion.
Higher‑ticket loans gained prominence, with loans above ₹2.5 lakh increasing their share of origination value from 36.4% in FY23 to 48.4% in FY25, and further to 59.1% during the first eight months of FY26. Despite this, loans up to ₹2.5 lakh continued to dominate origination volumes.
During the same eight‑month period in FY26, gold loan origination value surged 111.1% year‑on‑year to ₹17.4 lakh crore, with volumes reaching 1,052.5 lakh loans. The shift indicates a growing preference for larger‑sized borrowing among customers.
Read More: NHAI Targets Debt Reduction to Under ₹2 Lakh Crore.
India’s gold loan market recorded robust growth through November 2025, driven by higher origination values and increased lender participation. Asset quality indicators remained stable, supporting confidence in the segment.
Gold loans also gained a larger share of the overall retail lending portfolio. With public sector banks and specialised NBFCs leading expansion, the segment continues to play a key role in India’s retail credit ecosystem.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Jan 28, 2026, 12:40 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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