WHAT IS GOLD LOAN
A gold loan, also referred as a loan against gold, is a secured loan that a borrower takes from a lender in lieu of gold ornaments such as gold jewellery. The loan amount sanctioned to you by lenders is generally a certain percentage of the gold’s value. You can repay it through monthly installment after which you get your gold articles back. Unlike other secured loans such as a home loan or car loan, there are no restrictions on the end use of gold loans. So whether you need to fund a wedding, family vacation or your child’s education, it is a great way to meet your sudden money requirement. Even if a person has a low credit score but a good amount of gold lying in their locker, they can get gold loans without much of a hassle.
BENEFITS OF GOLD LOAN
Quick Processing
Since gold loans have physical gold as collateral, banks and other lending institutions easily provide such loans.
Pay Interest Only’ Option
Comparatively Lower Interest Rate
Zero Processing Fees
Many banks and NBFCs do not charge any processing fees since gold loans are provided instantly with gold as collateral held by the bank
Minimal Foreclosure Charges
No-Income Proof To Be Furnished
GET YOUR GOLD LOAN IN 3 SIMPLE STEPS
Talk To Our Official
Talk to our gold loan official and get complete guidance and consultance on the entire procedure of buying the gold loan.
Simple Documentation
No hassle for documents physical copies requried. Just mail them over to us and we will handle the rest.
Ready To Go
Now with the discussion with the official done and the documentation complete, your Gold Loan is ready!
FAQs
General Queries
Loan Related Queries
Payment Related Queries
What are the benefits of gold loan?
1. Simple documentation
2. Fast loan disbursal
3. Customer oriented
4. In-house gold evaluation
5. No penalty on pre-payment
Eligibility to avail Gold loan?
Any Indian citizen above the age of 21 years is eligible to avail a loan. All they are required to do is provide the required documents along with the gold ornaments.
What is the tenure of Gold loan?
The tenure of a gold loan is dependent on the schemes availed. However, the minimum tenure is 7 days.
Does availing Gold loan require a guarantor?
There is no requirement of any guarantor. The only security that is needed is the gold.
Can I avail loan against any ornament?
You can pledge any type of Gold ornaments. However, the valuation will be done only of Gold and not of the stones.
What are the different options available for repayment?
A. Bullet payment: Here you can make the principal and interest payment at once and release your gold.
B. EMI: You can avail gold loan on monthly repayment basis depending on the gold loan scheme you opt for.
How can I repay the loan amount
You can repay loan at any of our Gold loan branches through cash and cheque. You can also repay your EMI through our online web facility.
Is partial repayment of gold loan allowed?
The payment of loan and interest depends on the scheme you have selected. However, to make it convenient for our customers we do accept partial repayment. But do remember, you will get your pledged gold ornaments only after full repayment of principal and interest.
How can I avail gold loan from Unigold finance?
You can walk into any of our branch with your gold ornaments/jewellery. Depending on the weight of that jewellery and the assessment of the valuer you will be sanctioned a particular loan amount.
How much gold loan can I get?
You are eligible to get upto 75% LTV on your gold ornaments/jewellery depending on the purity.
Do I need any income proof to avail gold loan?
No. You do not need any income proof to avail gold loan. Only your Aadhar card and pan card is required.
In how much time is the gold loan disbursed?
Once the gold ornament/jewellery is satisfactorily assessed by the appraise/valuer, it take around 15 minutes to disburse the loan.