A gold loan is a loan in which the borrower offers a certain amount of gold against a loan amount (called loanto-value or LTV) for a certain period of time. This works like a normal secured loan in which the gold acts as collateral or asset
A gold loan only requires you to submit KYC documents for verification before the loan can be processed and disbursed. This includes ID proof and address proof, which can be a driver’s license, Aadhar card, voter ID, PAN card, or passport. Along with this, a utility bill or lease agreement must be provided.
When taking a gold loan, a borrower should consider the following points before choosing a lender - - Loan-toValue (LTV): The loan amount being sanctioned for the gold can vary between lenders. A borrower should ensure they are receiving the highest LTV amount for their gold. - Interest rate: This rate determines how much a borrower will pay for the loan, so the lower this is, the better. - Gold security: Without an insurance cover or secure transport of the collateral, there may be certain risks to consider which can result in major losses. - Additional fees and charges: These can increase a loan amount immensel.
A gold loan offers many benefits when compared to other types of loans. Gold loan benefits include faster processing time, higher loan to value ratio, lower interest rates, the convenience of availability of the collateral, faster loan disbursal, and relaxed eligibility criteria. Based on the lender, you may also enjoy other benefits like a waiver on the processing fee and insurance cover.
No, a CIBIL score is not required when availing a gold loan. The eligibility criteria for a gold loan does not include a credit score or credit check of any sorts - only the KYC documents required for gold loan should be submitted.
The gold loan interest is calculated differently and is set by the lender. This is why interest rates vary across gold loan lending platforms. In order to know more about the gold loan interest rates, you will have to get in touch with the lender of your choice to understand their unique loan schemes.
100%. At Jijagold, we have all the necessary modern and secure infrastructure in place to keep your gold safe, so that you can relax without any worries. 100% insurance
Jija Gold offers a gold loan at an interest rate starting from just 11%, which is probably the best in business
From the time you submit your documents, we assure you that your gold loan will get sanctioned in just 09 minutes in Authorise Branch and 30 minutes in Door steps at Home.
Jijagold offers up to 90% loan of the value of the gold mortgaged by you. This is the highest in the industry.
Jijagold does not accept Gold coins or bars. We accept all gold-jewelry ornaments above 18k
You can easily track and make payments on your Gold Loan through the Jijagold app and www.jijagold.co.in website with 100% ease and comfort through UPI, Debit card, and Netbanking. We do not accept cash payments in Door steps Gold loan and Authorised Jeweller Business partners. are only accepted in cash authorised Partners NBFC Branch.
To contact Jijagold customer support, you can dial +91 9371964999.
