Fellocraft Research · Dashboard 1 of 7

The Indian Gold Loan Market, Online

A ₹15 lakh crore category dominated by two NBFCs. ~3.5 million monthly organic visits across 11 digital players. Banks combine for less than 16% of category SEO despite holding ~50% of lending share — a structural mismatch between balance-sheet power and search visibility.

Category AUM (FY26 proj)
₹15L cr
up from ₹11.8L cr March 2025
Category Organic / month
3.5M
across 11 brands tracked
NBFC share of SEO
84%
Muthoot + Manappuram + IIFL alone = 74%
Only brand growing 24m
Rupeek
+16% organic · fintech challenger

Monthly Organic Traffic Leaderboard

April 2026 · India · all values measured via Semrush keyword-attributed Top Pages

# Brand Category Gold Loan Traffic Share of Category Δ 24m
1
Muthoot Financemuthootfinance.com
Pure-play NBFC
1,453,826
−55%
2
Manappuram Financemanappuram.com
Pure-play NBFC
827,912
−20%
3
HDFC Bankhdfcbank.com + hdfc.bank.in
Bank (subset)
345,204
−6%
4
IIFL Financeiifl.com/gold-loans
Gold-centered NBFC
337,789
−7%
5
ICICI Bankicicibank.com + icici.bank.in
Bank (subset)
175,908
−5%
6
BankBazaarbankbazaar.com/gold-loan.html
Aggregator
147,306
−8%
7
Bajaj Finservbajajfinserv.in/gold-loan (73 pages)
Diversified NBFC
116,644
+1%
8
State Bank of Indiasbi.bank.in
Bank (subset)
47,071
−15%
9
Rupeekrupeek.com
Fintech (pure-play)
32,932
+16%
10
Axis Bankaxis.bank.in
Bank (subset)
27,276
—
11
Shriram Financeshriramfinance.in (gold loan)
Diversified NBFC
12,278
−10%
RBI Framework · April 2026

The rules that reshape the category

LTV cap (loans up to ₹2.5L)
85%
LTV cap (₹2.5L–₹5L)
80%
LTV cap (above ₹5L)
75%
Max bullet tenor
12 months
Gold return window (post-closure)
7 days
No credit check threshold
< ₹2.5L
bank.in migration (all banks)
31 Oct 2025
Category Funnel

Gold loan search is a bottom-funnel-first category

Distribution of 47 seed keywords by intent (total volume 661K monthly):

1.3%
TOFU
14%
MOFU
84.7%
BOFU
Unique to this category: Users don't "research" gold loans the way they research insurance or mortgages. They jump straight to "gold loan per gram", "nearest gold loan branch", "muthoot login". Informational content drives only 1.3% of seed volume — a structural ceiling that narrows the content strategy field to commercial and transactional plays.
Traffic measured via Semrush PagesV2 (keyword-attributed) and clickstream Top Pages. HDFC and ICICI combine .com and .bank.in domains following RBI's October 2025 migration mandate. Axis Bank captured via bank.in peer-domain overlap. 24-month Δ uses April 2024 as baseline where available; Axis has no 24m trend series.