Gold loan defaults see almost 2x rise in 5 months

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Gold loan defaults see almost 2x rise in 5 months

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November 6, 2026

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Gold loan defaults see almost 2x rise in 5 months

MUMBAI: Gold loan defaults have nearly doubled in five months even as outstanding balances tripled over three years, pointing to a rise in stress in a rapidly expanding segment of the lending market. Loans overdue by more than 90 days accounted for 0.3% of the portfolio in Aug 2026, up from 0.2% in March 2026. Outstanding gold loans touched a record Rs 22.5 lakh crore in Aug 2026, having tripled since Aug 2023.TransUnion Cibil’s report, Lending Unlocked: Gold Loans, Nov 2026, found that the value of gold loans sanctioned rose 12% year-on-year to Rs 8.2 lakh crore in the three months ended June 2026, despite a 15% decline in the number of loans originated. Around 3.7 crore gold loans were disbursed during the period, while the number of unique borrowers remained broadly stable at 2.4 crore. The divergence suggests that lower origination volumes reflected a shift towards larger-ticket loans rather than reduced borrower participation. According to Bhavesh Jain, MD and CEO of TransUnion Cibil, the number of Gen Z borrowers increased 19% over the preceding five months.

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