Gold loan (also called loan against gold) is a secured loan taken by the borrower from a lender by pledging their gold articles (within a range of 18-24 carats) as collateral. The loan amount provided is a certain percentage of the gold, typically upto 80%, based on the current market value and quality of gold. You can be a salaried professional, a self-employed individual, a business owner, an entrepreneur, a student, a senior citizen, a pensioner, or a housemaker to be eligible for the loan.