What is a Gold Loan? How Can I Apply For a Gold Loan?

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What is a Gold Loan?

The Gold Loan also known as a loan against gold is a secured form of loan which a borrower can avail or take from Augmont in lieu of the gold ornaments such as any kind of gold jewelry above 18 carats. In order to fulfill the need of immediate cash requirement, it is one of the best and the easiest way and proves to be a sensible alternative to avail loan.   

As compared to the other form of loans such as a home loan or personal loan, Augmont with its easy to opt procedure and minimal documentation requirements offer zero restrictions on the end use of the gold loans. When it comes to taking a loan from Augmont, you are ensured of complete customer satisfaction. With our quick disbursal and attractive rates of interest, We offer our customers complete ease of satisfaction along with exemplary service. With minimal interest rates on your gold loan, we also offer the option to repay the debt in the form of installments so that you can easily pay the amount without going through any financial stress. Once the amount is paid you can have your precious gold articles and jewelry back. Augmont Gold Loan provider is the best to meet your sudden money requirements and help you fulfill a diverse variety of your and your family’s needs. 

What Kind of Gold Jewellery Can You Pledge?

Augmont Gold Loan accepts all kinds of hallmarked gold ornaments from 18 to 22-carat hallmarks. The purity of the gold will determine the amount of cash customers can borrow.

To avail instant gold loan from Augmont you can submit all kinds of gold ornaments from 18 to 22-carat hallmarks. Any other form of gold such as coins or bars or utensils will not be accepted. The purity of the gold will determine how much cash the customers can borrow. The higher the purity of the gold ornaments, the higher would be the valuation and the loan amount. 

What Are the Documents Required for Gold Loan?

As compared to the other gold loan companies the documents required to avail loan on gold from Augmont are very few. The documents required for the loan are mentioned as below:

You need to submit the following 

  • Anyone identification proof such as Driving License, PAN Card, Aadhaar Card, Voter ID Card, Passport, etc 
  • Anyone residential address proof. 

Augmont with its minimum paperwork ensures that you do not get hassled and get instant cash without waiting too long. 

After submitting the documents, if the application meets all the requirements we will immediately start evaluating the value of the gold and accordingly disburse the loan amount in just a few minutes. We do not ask the customer to wait in the long tiring queues and visit different branches and experience complicated documentation processes. Instead, with our minimal documentation procedure, we approve instant applications for the gold loan online. Augmont’s state-of-the-art facility ensures that customers enjoy the comfort and convenience of the doorstep facility.

 

How Can I Apply For a Gold Loan With Augmont?

To resolve immediate financial requirements from Augmont –

  • Download the app ‘Gold For All’ Or
  • Visit our website and apply for a Gold Loan.
  • Enter your mobile number, put the received OTP in your registered number, complete the KYC, fix an appointment with our agent to visit you. 
  • We guarantee immediate disbursement of the loan the same day you request. 

 

Benefits of Augmont Gold Loan 

Today, Gold is not just a piece of jewelry but is rather considered as a mode of investment. It is considered as the preferred choice of savings for Indian households. It carries the power to supply capital preservation, liquidity, and source of financing during bad economic times, encouraging the significance of gold as a strategic advantage in India.

Let’s take a look at the below fundamentals that makes Augmont the best choice among gold loan customers: 

  • Speedy Disbursal

Augmont Gold Loan with its easy and simple disbursal process offers the most lenient eligibility criteria. With minimal documentation and a quick processing facility, you are not compelled to stand in any kind of traumatic long waiting queues. We provide our customers a hassle-free and safe delivery of amounts against the loan in a simple one-click procedure at your doorstep.  

  •  No Processing Charges

Augmont in its process of delivering loans against gold supports our customers and does not charge any extra amount to pay. We do not trouble our customers with any kind of hidden charges or extra processing fees. 

Augmont gold loan scheme proposes complete transparency in its process with no additional costs or hidden assessments throughout the journey. Augmont believes in long-lasting relationships and desires to be a part of the growth story of its customers. 

  • No Credit Rating 

Unlike personal or other loan criteria, a gold loan does not require any credit score. It takes your gold in exchange for the loan amount. Thus, in order to apply for an instant gold loan, you do need to maintain a good credit score. The loan amount would be entirely based on the purity and market value of the gold. 

  • Lower Interest Rate

Gold loans compared to personal loans or other money lending systems are cost-effective and offer various benefits. Unlike other loans, the Augmont gold loan provider offers loans against gold at a much lower interest rate. 

  • Easy Repayment Options

  Benefitting the customers’ financial needs and convenience, Augmont offers a basic scheme to repay loans on a monthly, bi-monthly, or half-yearly basis. 

  • Simple to Calculate 

Augmont Gold loan ensures transparency and fairness in its services. The customer is informed and educated about the loan amount against gold per gram, EMI and schedule, the safety of their gold, and repayment schedules.   

  • Multipurpose Use

Another great advantage of opting for online gold loan schemes from Augmont is that the amount can be used for any purpose. Unlike other investments, you do not need to restrict yourself on the usage of loans. 

How is Augmont Gold Loan different from others?

Understanding the customer’s doubts and queries about investing in gold loans online, Augmont ‘Gold For All’ application is India’s largest completely integrated gold ecosystem in compensating refining to retail. 

  • Augmont’s ‘Gold For All’ platform is one of the perfect solutions to buy, sell or invest in gold online. 
  • The app instead of making you wait in the long tiring queues delivers the amount in just a few minutes online. 
  • During crucial or distressing times or in need of emergency short-term assistance it acts as a pillar of support for small businesses and households.
  • During the pandemic crisis and worsening economic scenarios across the world, investing in gold loans online is the safe haven. 
  • Augmont’s doorstep and quick delivery process not only saves your time but also keeps you safe from risking your life. 
  • Augmont using the idle gold placed in your lockers offers you the advantage to enjoy several benefits of the gold loan app. 
  • Ensuring the safety and stability of our customers we offer the lowest interest rates and no prepayment penalty.

 

All you need to do is tap your mobile, download our app and we visit you. Call us when you are in need and the Augmont service executive will be right at your doorstep.

What is Augmont Doorstep Gold Loan Service?

Augmont keeping your health and comfort at priority offers doorstep delivery of loans. Call us or connect via our application ‘Gold For All’ and our agent will be right at your doorstep to solve all your queries and help you out. 

What are the Interest Rates for Gold Loans?

Augmont gold loans online have one of the lowest interest rates in the market. Based on how high the loan to value (LTV) is, interest rates are applied. Augmont offers the best and competitive rates to the customer in the market and it has multiple gold loan schemes that suit the requirements of the customer.

Under what circumstances, a person should go for a Gold Loan? Is a gold loan good for consumers?

As per the RBI report, it is mentioned that gold loans are socially very good. A person can go for a gold loan during the time of 

  • Emergency fund requirements like medical treatment, education requirements, payments of debts etc.
  • Fund at a lower cost.
  • Distress- While all options are closed and Identification of asset that is ideal that can be given as collateral

How is the gold appraisal and loan approval done at home?

We have our proprietary method of assessment and we have technology at every level.

  • After the initial call with our personnel, a loan manager is scheduled to meet with the customer at doorsteps. 
  • He performs the KYC and gold appraisal. and generates pledge cards for the customer.
  • The loan manager asks for the customer’s KYC documents and clicks pictures of the same. 
  • He weighs each of the gold items and enters the weight details in his system. 
  • He also verifies the quality/purity of your gold through industry-standard tests. These details are passed on for approval to the HO team. This completes the gold appraisal process.
  • The loan is disbursed in one hour as soon as this process is completed. The loan manager leaves the place, once the amount is credited to the customer account.
Read more: Things to keep in mind while applying for Gold Loan
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