Gold is one of the most precious metals in the world. For Indian people, buying gold jewellery is just another form of investment. In a time of emergency, when you run out of cash gold becomes the savior to fulfill financial needs. A gold loan can be used for any kind of personal expenses such as medical emergencies, educational emergencies, business expenses, and so on. Taking a gold loan is also popularly known as a “Loan against gold”.
A gold loan is the best option for people belonging to any financial class. As it does not require many legal formalities or a stable financial condition for taking a loan against gold.
What is a loan against gold?
Anytime when a financial emergency occurs always remember the gold jewellery lying in your locker. The gold jewellery that you own is very much useful when you require cash urgently.
To get the gold loan you need to temporarily mortgage your gold jewellery, coins, or bars to the lender. The worth is determined based on the quality and weight of the gold. Further, the gold loan is approved based on the percentage of the gold you have pledged.
Before applying for a gold loan it is essential to know which place is reliable to take a gold loan. If you are thinking to take a loan against gold Augmont GoldTech Pvt. Ltd is the best place to take a gold loan. For taking a gold loan you need to keep the required amount of gold mortgaged with the lender. Augmont charges the lowest interest rate against gold jewellery. Augmont accepts all kinds of jewellery from 18 to 22-karat hallmarks.
What factors to consider when applying for a gold loan?
Processing time: Among all the loan options available the process of loan against gold jewellery is completed faster. Very few identification documents are required to sanction the loan.
Purity and valuation of gold: The purity of gold plays an important role to determine the loan amount. Usually, any kind of gold jewellery or coin is accepted as collateral. The lender assesses the quality of gold jewellery and the total principal amount is decided.
Loan disbursal time: People mostly prefer to take gold loans during times of urgency. The gold loan gets approved quickly if the quality of gold is authentic and your identification documents are valid. Therefore, the disbursement of gold loans doesn’t take much time. This feature of the gold loan makes it a prudent choice for financial contingencies.
Gold loan eligibility: The best part of taking a loan against jewellery is that your eligibility criteria are not checked before approving the gold loan. Any person can apply for a gold loan if he or she has enough amount of gold jewellery to take a loan against it.
Loan processing fees: Augmont charge loan processing fees of Rs.100. Apart from this, if there are any other fees involved they will be shared with a customer at the time of the loan application process. Augmont is known for keeping good transparency in its services.
These are the main factors you must follow while applying for a gold loan.
Online Gold loan process:
Today in the time of digital era, Augmont is eliminating the risk of taking gold jewellery physically to the store. Augmont is providing the service of taking gold loans from the comfort of your home. You must be wondering how? So, all your hassles and worries related to gold loans are sorted through the “Augmont Gold for all” app. You just need to download the app and click the apply button.
Further, you will receive an OTP message on your mobile number. You have just to provide the OTP number in the provided space. The next step will lead you to complete the KYC process. Within some time Augmont’s customer representative will call and fix the appointment with the sales executive to visit your place for the loan procedure. Once you fix the appointment with a sales representative, he will visit your place and do the whole gold loan approval process there.
Now, taking a loan against gold jewelry has become a very easy process and also at the very lowest interest rate. For decades, people strongly believe in taking a gold loan for short-term financial requirements. Hence, Augmont is providing the service of taking a gold loan online with a hassle-free process.