Rathna Gold helps you by buying your gold and also provides funds to release your pledged gold. In this section, we answer some FAQs to help you understand our services better.
Why should I use your services to repay my gold loan?
In the current scenario, most banks offer personal loans at decent interest rates. People resort to gold loans only in the case of an emergency. It is possible to pledge your gold with most nationalized bank, co-operative societies and financial institutions to avail a loan. However, the loan amount is generally 50% of the total value of the gold and the interest rates are extremely high. Most people are unable to pay off the loan due to the high interest rates and the value of the loan eventually exceeds the value of the gold. This means that the bank can now auction your gold and you end up selling your gold at 50% of its true value.
Further, the auction process is not transparent and the cost of the auction is recovered from the borrower. The publishing of the auction list in the newspapers adds to the agony of the borrower making him feel humiliated.
At Rathna Gold, we buy your gold at the best rate to help you repay your gold loan.
How can I use the services of Rathna Gold to repay my gold loan?
Walk in to any of our Branches from Monday to Saturday between 10:30 AM and 6:00 PM with your pledge documents, ID proof, address proof and a photograph. It is suggested that you find out the amount owed by you against your gold loan before coming to see us.
Once you fill in a simple form and our staff verifies your documentation, we weigh your ornaments to evaluate the total value of your gold. Our procedure is transparent and fair:
- We purchase gold at the online market rate on the day of sale.
- Our evaluation process makes use of highly accurate German Carat checking machines.
- Our transactions are swift and we immediately pay off the outstanding loan to your bank. As soon as we receive the released gold at our office, we pay off the balance money to the borrower.
- We ensure your privacy by keeping the whole process confidential.
Can I sell gold to Rathna Gold directly?
Yes, of course. In fact, selling to Rathna Gold is a prudent decision as we offer transparent evaluation and best price for your gold.
For instance, if you are in need of one lakh rupees, in order to raise that amount you would have pledge gold worth two lakh rupees. The other option is to sell this gold to raise the money. However, if you decide to sell to a gold smith, there is a high chance that your gold would be undervalued as gold evaluation is not transparent unless the gold is hallmarked. Further, it is not possible for a gold smith to pay a large amount immediately or make cheque payment as most of these transactions are undercover and not accounted for. You would not be able to use this money in your business as its source cannot be confirmed and nor would you receive the true value of your gold.
Thus, deal smart and only sell your gold to a reputed company like Rathna Gold.
What is gold verification?
Gold verification refers to checking the purity or caratage of gold. Mostly, customers blindly trust jewellers while buying their jewellery and often duped by being sold lower caratage of gold at the price of higher caratage. It is only when they go to sell their jewellery, they realise this fraud.
Rathna Gold has installed imported Metal Verification Machines to verify the purity of your gold.
What are your business timings?
We are open on all days except Sundays from 9 AM to 6 PM.
How to sell Antique Jewellery?
Most antique jewellery does not carry a ‘Carat’ stamp and it is a good idea to test whether it is actually gold before going to a buyer. If you know it is a valuable family heirloom, don’t let yourself be fooled and ensure you get a good price by getting it evaluated by a professional evaluator like Rathna Gold before deciding to sell it. Even the precious stones on antique jewellery do not carry any certification, so it is a good idea to get the stones evaluated by a professional as well.