img1

Testimonials

SMC has offices throughout India, so we can reach clients efficiently practically anywhere.
Our personalized service and streamlined documentation gets your product to you faster.

Mr. Arvind Pal

Testimonials
SMC has offices throughout India, so we can reach clients efficiently practically anywhere.
Our personalized service and streamlined documentation gets your product to you faster.
Mr. Arvind Pal
Home > Gold Loan

Gold Loan

In times when financial flexibility is paramount, SMC Finance brings you a hassle-free and swift solution to meet your immediate cash needs. Our gold loan product is designed to empower you with quick access to funds while leveraging the security of your valuable gold assets.

 

  • Maximum Value against your gold jewellery
  • Quick Approval & Instant Disbursal
  • Attractive Rate of Interest with Flexible payment options
  • Get Free Insurance of your gold jewellery
  • Best in class multi-tier security at stroage facility
  • Loan Tenure: The minimum duration of a gold loan from SMC Finance is of 6 months and the maximum gold loan duration is of 12 months for our schemes.  
  • APR (Annualised Percentage Rate) : 10.00% p.a. - 24.00% p.a. (incl. Processing Fees)
  • For more details, visit our exclusive gold loan Branch near you

FEATURES

  • Maximum Loan-to-Value (LTV) ratio
  • Quick Processing – Experience swift approval and disbursal
  • Minimal Documentation- hassle free access to funds
  • Attractive rate of interest
  • Flexible payment options
     

Gold Loan +91-70260 00426

BENEFITS

 
  • Financial empowerment
  • Customer centric approach
  • Free insurance up to 1 Lakh
  • Secure and Transparent
 
 

 

Here is an example, to calculate the total cost of your SMC Gold Loan

Representative Example : If the gold loan amount is Rs 100,000 and the customer selects a scheme with interest rate of 15 % per annum and processing fees of Rs 100/- with one year tenure.

So, Total cost of the loan would be (Interest + Processing fee) = Rs 15,100.

APR (Annualized Percentage Rate) would be 15,100/100,000 = 15.10% p.a.

Minimum period of repayment is 6 months and Maximum period of repayment is 12 months.

Subject to the necessary KYC and verification. T&C apply

 
 
 
For more information
please write to us at
response@smcfinance.com



  • Indian Citizen
  • Individual
  • Age : 21-75 years
  • Max. LTV : 75% of value of Gold
  • Acceptable Jewellery:
    • Min. Loan Amount :Rs 5,000/-
    • Max. Loan Amount :Rs 25,00,000/-

- 18ct-22ct of gold jewellery

- Bangles, Chain, Ear rings, Rings, necklace, etc.

- Jewellery shall be self owned

- No loan granted against gold coins, gold bullion, gold bars etc.

- only gold value will be considered (excluding Stone weight)

  • Min. Loan Amount :Rs 5,000/-
  • Max. Loan Amount :Rs 25,00,000/-
 

7th March 2025





  • KYC Documents

- Aadhaar Card

- PAN Card (Mandatory if Loan Amount > ₹ 50,000)

- Nominee Details

- Mobile No. (will be validated using OTP)

- Customer has to be present in the branch

 

  • Bank Details (mandatory, if disbursement is made in bank A/c)
  • Gold Ornaments
  • Loan Kit to be signed at branch
                                                                       AUCTION POLICY
Preamble 
The Reserve Bank of India had issued “Guidelines on Fair Practices Code” vide their Circular No: DNBS. CC. PD No: 266/ 03.10.01/2011-12 wherein NBFCs were advised inter alia to put in place an “Auction Policy”, duly approved by the Board of Directors This policy is prepared on the basis of the guidelines contained in the above referred Circular for disclosure to the gold loan customers (through the company website or any other means), regarding auction of articles pledged/hypothecated for the purpose of extinguishing the liability of borrowers who fail to repay their liability on account of loans availed against their security.
 
Auction of Gold Jewellery
Gold Loans are sanctioned against pledge of gold Jewellery as collateral security. As per the terms and conditions of sanction, the loan should be closed on or before the due date as per the maximum tenure specified by repaying the principal along with interest due up-to-date and other charges if any. The ornaments are liable to be auctioned for realization of the dues, in case of identification of Auction pledges / Auction triggers as mentioned below in Point No 1.
 
Notwithstanding anything stated herein, the Moneywise Financial Services Pvt Ltd (MFSPL) reserves its right to call up the loan and auction the gold without waiting for maturity date stipulated above in case of eventualities leading to probable loss on account of shortfall in the value of security due to fluctuations in Gold Price or any other reasons or any other contingencies, after giving a minimum of 14 days’ notice to the borrower.
 
However, the MFSPL shall make earnest efforts to reduce the number of auctions by sending periodic communications to the customers for persuading them to pay the interest and/or LTV shortfall amount (if any) or to pay the any dues before the maturity date or renew the loan by paying the interest up-to-date.
In line with the above guiding principles, the auction policy and procedure for conducting the auction shall be as follows:
 
1. Identification of Auction Pledges /Auction Triggers
Any situation as stated below shall trigger an auction process:
a) Loan remains overdue for > 15 days post maturity
b) During the tenure of loan, the interest/EMI is overdue by 90 days or more, prior to loan maturity
c) LTV breach due to following reasons and customer has not rectified the position within 7 working days from the date of communication to customer about such breach:
              a. Depletion in security value due to gold prices falling.
              b. Low quality /spurious ornament(s) identified during audit process
              c. Accrued Interest
d) Any other reasons where probable loss is anticipated vis-a- vis the realizable value ofsecurity.
 
2. Auction Process
 
    1.1. Demand Notice: A demand notice shall be sent on to all “Auctionable” pledges requesting the borrower to pay the shortfall amount within 14 calendar days from the demand notice date, failing which the security would be liable to be put on auction, without further notice, for recovery of the dues.
 
    1.2. Newspaper Publication: If the borrower fails to repay the shortfall amount within 14 calendar days from the date of issuance of demand notice, public auction notice shall be published in two newspapers within 30 calendar daysfrom the expiration of the deadline stated in the demand notice. This notice shall be published one in the local newspaper in vernacular language and another in a national daily newspaper. The notice shall include the date and venue of the auction and an EMD amount, which must be paid by prospective bidders to participate in the auction
 
    1.3. Final Auction Notice: MFSPL will inform the borrower about the commencement of auction proceedings on the very next working day following the publication of the auction notice in the newspaper by giving a 14 calendar days’ notice to the borrower. A copy of auction advertisement must be displayed on the notice board of the respective branches. If the borrower pays the recovery amount after the auction process has started, he/she will be required to pay the auction process costs as mentioned in the Schedule of charges.
 
    1.4. Submission of KYC documents & EMD payment: The interested bidders are required to submit the KYC documents for one time empanelment and required to pay the EMD amount and same shall be suitably verified by MFSPL:
 
            • Authority letter(for non-individual bidders orif bidderis an individual butrepresented by any otherindividual)
            • Copy PAN Card of Bidder
            • Address Proof of Bidder
            • Copy of PAN Card & Aadhaar Card of the authorised representative
            • GST registration certificate of Bidder Entity
 
    1.5. Gold Inspection: The Auction Committee shall fix up the inspection date, time and venue for the gold jewellery to be auctioned. This inspection can occur anytime up to the auction date (preferably at least 1 working day prior to auction date) and shall be communicated to interested bidders. Bidders can do the gold inspection is subject to:
           • Payment of EMD amount (as specified in the auction notice in newspapers). Prospective bidders must pay an Earnest Money Deposit (EMD) through RTGS/NEFT/IMPS/DD.
           • KYC documentation as described in the point above
 
    1.6. Fixation of Bid Price / Reserve Price: Minimum Bid price / reserve price shall be the price as decided by the Auction Committee, which shall be minimum of 85% of the previous 30 days average closing price of 22 carat gold as declared by The Bombay Bullion Association Ltd 
 
    1.7. Auction Procedure
           • The auction should be conducted in MFSPL branch / HO which is located in the same town or taluka in which the branch that has extended the loan
           •  Ornaments identified for auction shall be put up for sale in appropriate/convenient lots through a public auction procedure wherein the prospective bidders participating in the auction shall quote their prices over and above the minimum fixed bid price.
         • Interested Bidders must accept the terms and conditions of the auction before starting the bidding process
         • An auction will be carried out provided minimum 3 bidders are available as participants. However, Auction Committee to decide for auction in case where less than 3 bidders are available as participants.
         • An auction will be carried out provided minimum 2 bids are available. However, Auction Committee to decide for auction in case where less than 2 bids are available.
        • The bidder shall not amend / modify bid to lower amount or withdraw its bid once it is received by MFSPL. MFSPL shall be entitled to forfeit the EMD if the bidder amends / modifies bid to lower amount or withdraw the original bid without the consent of MFSPL. Bidder is allowed to modify the bid to a higher price during the bidding period.
       • MFSPL has the right to reject the bid at any time without assigning any reason.
       • In case the auction could not be conducted on the scheduled auction date due to any reasons like lack of minimum number of bidders etc. then the auction centre shall display on the notice board the date and address of the location where the next auction will be carried out.
 
           •   In case of Physical auction:
                   o Appointment of an independent / professional auctioneer is optional, if appointed, same shall be approved by the Board of directors.
                   o The auction will be conducted through an:
               ▪ Open bidding process OR
               ▪ Submitting Bid form OR
               ▪ Any other method of physical auction as decided by the Auction Committee from time to time and communicated to interest bidders in advance.
 
                   o The final rate quoted by each bidder shall be recorded in the bid register
                   o The bidder who has quoted the highest rate (H1) will be declared as the successful bidder
                   o The acceptance of the bid will be communicated to the successful bidder via an email / letter by MFSPL employee
 
     2.8. Realization of payment & handover of Auction items to Winning Bidder:
           • MFSPL shall not accept cash payment towards the sale consideration.
           • The bid amount to be paid by the successful bidder before the time & date communicated by MFSPL.
           • Any extension of time for payment of balance bid amount shall be approved by the Auction Committee.
           • If the balance bid amount is not paid within the date & time as communicated by MFSPL, MFSPL shall be entitled to forfeit the EMD amount ofsuch bidder. In such case, the Auction Committee may decide to cancel the sale or consider and accept the payment from the next highest bidder.
           • On realization of full auction amount, MFSPL shall generate invoice and handover the auction items (lot) to the bidder. Remittance of auction amount shall be received through banking mode only. Third party payments shall not be allowed.
           • The sale consideration will be allocated to the auctioned cases, in proportion to their Audited Net Weight (equivalent to 22 carat).
           • A confirmation from winning bidder (H1) regarding handover of auction items (lot) shall be taken by documenting acknowledgment letter and same is also recorded in the physical register.
          • The GST Invoice shall be issued in favour of the successful Bidder.
 
    1.9. Refund of EMD Amount: If a bidder's bid is unsuccessful or if the auction is cancelled, the Earnest Money Deposit (EMD) amount shall be refunded once successful bidding /auction occurs and the auction proceeds are received from the successful bidder
 
   2.10. Post Auction actions: Surplus if any available in the auction sale proceeds over and above the dues shall be refunded to the respective customers within 7 working days after receipt of the full auction proceeds. A rightful lien will also be retained against such surplus subject to proper notice to the customer in case the borrower has other unsettled liabilities to the Company and surplus shall be refunded to the borrower after adjusting such dues if any. In case of shortfall, customers shall be demanded to remit the shortfall. MFSPL shall provide all details to customers such as principal outstanding, interest outstanding, charges, amount realized from auction and any adjustments to other live pledges of the customer.
 
3. Revisions or Deviations in the Auction Policy
    Proposed deviation to any process specified in this policy based on proper justification can be approved by MD & CEO/ Business Head.

What is a gold loan?

A gold loan is a loan obtained after pledging gold jewellery as collateral to a gold loan bank. The loan amount is calculated on the basis of the quantity and purity of gold.

 

Can I release a part of my gold?

Yes, you can. Once you have paid the amount based on the value of the gold, you can partly release your gold.

 

Where can I repay my loan amount?

You can pay your SMC gold loan through the app , or through UPI payment or visit your branch to pay the amount in cash. As a regulatory requirement we cannot accept third party payments.

 

How much time does it take for loan approval and what is the gold loan interest rate?

Maximum processing time to disburse SMC Gold Loan is max. 30 mins. You can get the best attractive interest rate with SMC Gold Loan based on the Gold loan scheme suitable to your requirement.

 

How will the value of my gold be calculated?

The value of the gold is calculated in accordance with the per gram rate in the market. Therefore, the amount will be gold loan per gram of gold jewellery to be pledged with SMC Gold Loan. While evaluating the weight of the jewellery, only the gold parts are calculated and the stones and other metals are not considered.

 

What is the kind of security against which I can avail the loan?

You can avail the loan against the pledge of your household ornaments. The loan offered shall depend upon the purity level of your ornaments and the net weight of gold content.

 

Can I avail loan against my gold bullion (coins, gold bars, gold biscuits etc)?

As per regulatory guidelines, we are not permitted to finance against the pledge of your gold bullion, bars, biscuits, coins or raw gold. For more information on the type of ornaments that can be accepted as pledged for gold loan purposes please visit your nearest branch of SMC Gold Loan

 

How do I know that my gold is safe with you?

Our staff follows strict operating guidelines while handling  customer ornaments. This avoids ornament breakage and loss. The ornaments are kept in safe custody (safe rooms or strong rooms) with adequate security measures in the branch. There is 24 X 7 surveillance of the branch with help of our security partners.

 

Is there any maximum and minimum limit for availing Gold Loan? What about the tenure of the loan, lock-in period?

SMC Gold loans can be availed for any amount between Rs. 5,000/- to a maximum of Rs. 25,00,000/-. Loans can be availed for a period of min 6 months to max 12 months. Our gold loans have a minimum lock period of 7 day.

 


 
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CALCULATOR
 
WANT US TO
CALL YOU?
 
NEED A
LOAN
For more information
please write to us at
response@smcfinance.com



Home > Gold Loan    
img1
Gold Loan

In times when financial flexibility is paramount, SMC Finance brings you a hassle-free and swift solution to meet your immediate cash needs. Our gold loan product is designed to empower you with quick access to funds while leveraging the security of your valuable gold assets.

 

Testimonials

SMC has offices throughout India, so we can reach clients efficiently practically anywhere.
Our personalized service and streamlined documentation gets your product to you faster.

Mr. Arvind Pal

Testimonials
SMC has offices throughout India, so we can reach clients efficiently practically anywhere.
Our personalized service and streamlined documentation gets your product to you faster.
Mr. Arvind Pal
FEATURES
  • Maximum Loan-to-Value (LTV) ratio
  • Quick Processing – Experience swift approval and disbursal
  • Minimal Documentation- hassle free access to funds
  • Attractive rate of interest
  • Flexible payment options
     

Gold Loan +91-70260 00426

Benefits
 
  • Financial empowerment
  • Customer centric approach
  • Free insurance up to 1 Lakh
  • Secure and Transparent
 
 

 

 

 

ELIGIBILITY

  • Indian Citizen
  • Individual
  • Age : 21-75 years
  • Max. LTV : 75% of value of Gold
  • Acceptable Jewellery:
    • Min. Loan Amount :Rs 5,000/-
    • Max. Loan Amount :Rs 25,00,000/-

- 18ct-22ct of gold jewellery

- Bangles, Chain, Ear rings, Rings, necklace, etc.

- Jewellery shall be self owned

- No loan granted against gold coins, gold bullion, gold bars etc.

- only gold value will be considered (excluding Stone weight)

  • Min. Loan Amount :Rs 5,000/-
  • Max. Loan Amount :Rs 25,00,000/-
 

SERVICE CHARGES

7th March 2025

DOCUMENTATION

  • KYC Documents

- Aadhaar Card

- PAN Card (Mandatory if Loan Amount > ₹ 50,000)

- Nominee Details

- Mobile No. (will be validated using OTP)

- Customer has to be present in the branch

 

  • Bank Details (mandatory, if disbursement is made in bank A/c)
  • Gold Ornaments
  • Loan Kit to be signed at branch

Gold Loan Auction Process

                                                                       AUCTION POLICY
Preamble 
The Reserve Bank of India had issued “Guidelines on Fair Practices Code” vide their Circular No: DNBS. CC. PD No: 266/ 03.10.01/2011-12 wherein NBFCs were advised inter alia to put in place an “Auction Policy”, duly approved by the Board of Directors This policy is prepared on the basis of the guidelines contained in the above referred Circular for disclosure to the gold loan customers (through the company website or any other means), regarding auction of articles pledged/hypothecated for the purpose of extinguishing the liability of borrowers who fail to repay their liability on account of loans availed against their security.
 
Auction of Gold Jewellery
Gold Loans are sanctioned against pledge of gold Jewellery as collateral security. As per the terms and conditions of sanction, the loan should be closed on or before the due date as per the maximum tenure specified by repaying the principal along with interest due up-to-date and other charges if any. The ornaments are liable to be auctioned for realization of the dues, in case of identification of Auction pledges / Auction triggers as mentioned below in Point No 1.
 
Notwithstanding anything stated herein, the Moneywise Financial Services Pvt Ltd (MFSPL) reserves its right to call up the loan and auction the gold without waiting for maturity date stipulated above in case of eventualities leading to probable loss on account of shortfall in the value of security due to fluctuations in Gold Price or any other reasons or any other contingencies, after giving a minimum of 14 days’ notice to the borrower.
 
However, the MFSPL shall make earnest efforts to reduce the number of auctions by sending periodic communications to the customers for persuading them to pay the interest and/or LTV shortfall amount (if any) or to pay the any dues before the maturity date or renew the loan by paying the interest up-to-date.
In line with the above guiding principles, the auction policy and procedure for conducting the auction shall be as follows:
 
1. Identification of Auction Pledges /Auction Triggers
Any situation as stated below shall trigger an auction process:
a) Loan remains overdue for > 15 days post maturity
b) During the tenure of loan, the interest/EMI is overdue by 90 days or more, prior to loan maturity
c) LTV breach due to following reasons and customer has not rectified the position within 7 working days from the date of communication to customer about such breach:
              a. Depletion in security value due to gold prices falling.
              b. Low quality /spurious ornament(s) identified during audit process
              c. Accrued Interest
d) Any other reasons where probable loss is anticipated vis-a- vis the realizable value ofsecurity.
 
2. Auction Process
 
    1.1. Demand Notice: A demand notice shall be sent on to all “Auctionable” pledges requesting the borrower to pay the shortfall amount within 14 calendar days from the demand notice date, failing which the security would be liable to be put on auction, without further notice, for recovery of the dues.
 
    1.2. Newspaper Publication: If the borrower fails to repay the shortfall amount within 14 calendar days from the date of issuance of demand notice, public auction notice shall be published in two newspapers within 30 calendar daysfrom the expiration of the deadline stated in the demand notice. This notice shall be published one in the local newspaper in vernacular language and another in a national daily newspaper. The notice shall include the date and venue of the auction and an EMD amount, which must be paid by prospective bidders to participate in the auction
 
    1.3. Final Auction Notice: MFSPL will inform the borrower about the commencement of auction proceedings on the very next working day following the publication of the auction notice in the newspaper by giving a 14 calendar days’ notice to the borrower. A copy of auction advertisement must be displayed on the notice board of the respective branches. If the borrower pays the recovery amount after the auction process has started, he/she will be required to pay the auction process costs as mentioned in the Schedule of charges.
 
    1.4. Submission of KYC documents & EMD payment: The interested bidders are required to submit the KYC documents for one time empanelment and required to pay the EMD amount and same shall be suitably verified by MFSPL:
 
            • Authority letter(for non-individual bidders orif bidderis an individual butrepresented by any otherindividual)
            • Copy PAN Card of Bidder
            • Address Proof of Bidder
            • Copy of PAN Card & Aadhaar Card of the authorised representative
            • GST registration certificate of Bidder Entity
 
    1.5. Gold Inspection: The Auction Committee shall fix up the inspection date, time and venue for the gold jewellery to be auctioned. This inspection can occur anytime up to the auction date (preferably at least 1 working day prior to auction date) and shall be communicated to interested bidders. Bidders can do the gold inspection is subject to:
           • Payment of EMD amount (as specified in the auction notice in newspapers). Prospective bidders must pay an Earnest Money Deposit (EMD) through RTGS/NEFT/IMPS/DD.
           • KYC documentation as described in the point above
 
    1.6. Fixation of Bid Price / Reserve Price: Minimum Bid price / reserve price shall be the price as decided by the Auction Committee, which shall be minimum of 85% of the previous 30 days average closing price of 22 carat gold as declared by The Bombay Bullion Association Ltd 
 
    1.7. Auction Procedure
           • The auction should be conducted in MFSPL branch / HO which is located in the same town or taluka in which the branch that has extended the loan
           •  Ornaments identified for auction shall be put up for sale in appropriate/convenient lots through a public auction procedure wherein the prospective bidders participating in the auction shall quote their prices over and above the minimum fixed bid price.
         • Interested Bidders must accept the terms and conditions of the auction before starting the bidding process
         • An auction will be carried out provided minimum 3 bidders are available as participants. However, Auction Committee to decide for auction in case where less than 3 bidders are available as participants.
         • An auction will be carried out provided minimum 2 bids are available. However, Auction Committee to decide for auction in case where less than 2 bids are available.
        • The bidder shall not amend / modify bid to lower amount or withdraw its bid once it is received by MFSPL. MFSPL shall be entitled to forfeit the EMD if the bidder amends / modifies bid to lower amount or withdraw the original bid without the consent of MFSPL. Bidder is allowed to modify the bid to a higher price during the bidding period.
       • MFSPL has the right to reject the bid at any time without assigning any reason.
       • In case the auction could not be conducted on the scheduled auction date due to any reasons like lack of minimum number of bidders etc. then the auction centre shall display on the notice board the date and address of the location where the next auction will be carried out.
 
           •   In case of Physical auction:
                   o Appointment of an independent / professional auctioneer is optional, if appointed, same shall be approved by the Board of directors.
                   o The auction will be conducted through an:
               ▪ Open bidding process OR
               ▪ Submitting Bid form OR
               ▪ Any other method of physical auction as decided by the Auction Committee from time to time and communicated to interest bidders in advance.
 
                   o The final rate quoted by each bidder shall be recorded in the bid register
                   o The bidder who has quoted the highest rate (H1) will be declared as the successful bidder
                   o The acceptance of the bid will be communicated to the successful bidder via an email / letter by MFSPL employee
 
     2.8. Realization of payment & handover of Auction items to Winning Bidder:
           • MFSPL shall not accept cash payment towards the sale consideration.
           • The bid amount to be paid by the successful bidder before the time & date communicated by MFSPL.
           • Any extension of time for payment of balance bid amount shall be approved by the Auction Committee.
           • If the balance bid amount is not paid within the date & time as communicated by MFSPL, MFSPL shall be entitled to forfeit the EMD amount ofsuch bidder. In such case, the Auction Committee may decide to cancel the sale or consider and accept the payment from the next highest bidder.
           • On realization of full auction amount, MFSPL shall generate invoice and handover the auction items (lot) to the bidder. Remittance of auction amount shall be received through banking mode only. Third party payments shall not be allowed.
           • The sale consideration will be allocated to the auctioned cases, in proportion to their Audited Net Weight (equivalent to 22 carat).
           • A confirmation from winning bidder (H1) regarding handover of auction items (lot) shall be taken by documenting acknowledgment letter and same is also recorded in the physical register.
          • The GST Invoice shall be issued in favour of the successful Bidder.
 
    1.9. Refund of EMD Amount: If a bidder's bid is unsuccessful or if the auction is cancelled, the Earnest Money Deposit (EMD) amount shall be refunded once successful bidding /auction occurs and the auction proceeds are received from the successful bidder
 
   2.10. Post Auction actions: Surplus if any available in the auction sale proceeds over and above the dues shall be refunded to the respective customers within 7 working days after receipt of the full auction proceeds. A rightful lien will also be retained against such surplus subject to proper notice to the customer in case the borrower has other unsettled liabilities to the Company and surplus shall be refunded to the borrower after adjusting such dues if any. In case of shortfall, customers shall be demanded to remit the shortfall. MFSPL shall provide all details to customers such as principal outstanding, interest outstanding, charges, amount realized from auction and any adjustments to other live pledges of the customer.
 
3. Revisions or Deviations in the Auction Policy
    Proposed deviation to any process specified in this policy based on proper justification can be approved by MD & CEO/ Business Head.

FAQS

What is a gold loan?

A gold loan is a loan obtained after pledging gold jewellery as collateral to a gold loan bank. The loan amount is calculated on the basis of the quantity and purity of gold.

 

Can I release a part of my gold?

Yes, you can. Once you have paid the amount based on the value of the gold, you can partly release your gold.

 

Where can I repay my loan amount?

You can pay your SMC gold loan through the app , or through UPI payment or visit your branch to pay the amount in cash. As a regulatory requirement we cannot accept third party payments.

 

How much time does it take for loan approval and what is the gold loan interest rate?

Maximum processing time to disburse SMC Gold Loan is max. 30 mins. You can get the best attractive interest rate with SMC Gold Loan based on the Gold loan scheme suitable to your requirement.

 

How will the value of my gold be calculated?

The value of the gold is calculated in accordance with the per gram rate in the market. Therefore, the amount will be gold loan per gram of gold jewellery to be pledged with SMC Gold Loan. While evaluating the weight of the jewellery, only the gold parts are calculated and the stones and other metals are not considered.

 

What is the kind of security against which I can avail the loan?

You can avail the loan against the pledge of your household ornaments. The loan offered shall depend upon the purity level of your ornaments and the net weight of gold content.

 

Can I avail loan against my gold bullion (coins, gold bars, gold biscuits etc)?

As per regulatory guidelines, we are not permitted to finance against the pledge of your gold bullion, bars, biscuits, coins or raw gold. For more information on the type of ornaments that can be accepted as pledged for gold loan purposes please visit your nearest branch of SMC Gold Loan

 

How do I know that my gold is safe with you?

Our staff follows strict operating guidelines while handling  customer ornaments. This avoids ornament breakage and loss. The ornaments are kept in safe custody (safe rooms or strong rooms) with adequate security measures in the branch. There is 24 X 7 surveillance of the branch with help of our security partners.

 

Is there any maximum and minimum limit for availing Gold Loan? What about the tenure of the loan, lock-in period?

SMC Gold loans can be availed for any amount between Rs. 5,000/- to a maximum of Rs. 25,00,000/-. Loans can be availed for a period of min 6 months to max 12 months. Our gold loans have a minimum lock period of 7 day.

 

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