One of the Top Gold Loan Companies in India

Indian culture and society place a great deal of value on gold items. Individuals can also borrow a sizable sum of money against their gold in times of need by using the equity in the gold. You only need to submit a small number of papers to instantly get a Sova Finserv Gold Loan.

Use a no-end-use restriction simple gold loan to cover urgent needs, such a medical emergency or inventory replacement. Enjoy a hassle-free experience by repaying the amount flexibly at low interest rates.

A secure evaluation procedure

Get the gold jewellery valued at home, in the privacy and comfort of your own house. To ensure authenticity and accuracy, our professional will assess the valuables using a carat metre of the highest calibre.

Industry-leading safety procedures

We maintain 24-hour surveillance and have motion detectors installed in the rooms where we store the promised gold goods. We rank among the top gold loan businesses in India because to our safety procedures.

Amount of loan: Rs. 1 crore

Get a sizable gold loan and conveniently pay expensive personal and professional expenses. There are no end-use limitations on the funding.

Simple repayment options

To fit your needs, choose from a variety of repayment alternatives. Select regular EMI payments to pay off the debt. Alternately, choose to repay principal first and interest afterwards, or interest up front and principal later.

Foreclosure and partial prepayment possibilities

Loans secured by gold may be partially repaid or closed with no penalties. Additionally, top-up loans are available to contractors and dealers without any additional fees.

Facility for partial releases

When required, withdraw a portion of the gold that has been promised by repaying the equivalent amount.

Additional gold insurance

Take advantage of a gold loan from Sova Finserv in India and receive a free gold insurance coverage. The items that have been pledged are protected from loss and theft by insurance.

With just an identity and residence verification, you can apply for a gold loan from Sova Finserv. These consist of:

Aadhaar card
Voter ID card
PAN card
Passport
Driving license
Electricity bill
Rental agreement

Being one of the top gold loan providers nationally, we avail gold loans at the lowest interest rates from us. To learn more, review the interest rates on gold loans.

Maximum Loan Per Gram

The highest loan per gramme is the biggest loan sum a borrower is permitted to take out in relation to the market price of one gramme of gold. In percentage form (%), this rate is also referred to as LTV. The amount of gold loan that is currently or immediately after application is assessed by an appraiser using the market valuation of the gold items with respect to the LTV.

Factors Affecting the Interest Rate on Gold Loans

Credit Amount

The quantity and carat of the gold you have pledged will determine the interest rate for a gold loan. Due to the fact that this is a secured loan, the lender assesses penalties based on the gold's current market value, or LTV.

Purity of Gold

The purity of the gold being pledged has a significant impact on the interest rates for gold loans.

Inflation

People frequently invest in gold because it serves as a hedge against inflation, which causes the currency to decline. As a result, gold prices are high and people can take advantage of low interest rates.

Monthly Salary

The initial stage in determining qualifying requirements is basic credit verification. Before issuing a loan, lenders must know the specifics of your previous loans and payback history in order to determine your eligibility. The interest rate on your gold loan will be determined by this factor.

FAQs

What Exactly Is a Gold Loan?

With a gold loan, borrowers can take out a specific loan amount based on the market worth of the gold goods they are pledging. Upon determining the value of the pledged gold items and the applicable LTV, a financier calculates the possible loan amount.

Who May Apply for a Gold Loan?

One can use a gold loan service whether they are a professional, salaried or self-employed person, trader, farmer, or businessperson. Ages 21 to 70 must be met for eligibility.

How Do I Get a Loan for Gold?

Visit the nearby Sova Finserv branch to take advantage of a gold loan programme. By submitting an online loan application, you can do so from the convenience of your home. To continue the process, our representative will get in touch with you.

Does a Gold Loan Require a CIBIL Score?

To obtain a loan against gold, you do not need to have a CIBIL score. With a strong credit rating, you can benefit from low interest rates and flexible payback arrangements.

What is the interest rate on a gold loan?

Get a gold loan from an Indian bank with interest rates between 7% and 29% per year. Depending on the loan scheme you choose, you can get a loan for up to Rs. 1 crore with a repayment period of 3 months to 4 years.