Gold Loan in Kolkata
Cash against your gold jewellery, with purity testing in front of you, secure locker storage and a flexible 3 to 12 month tenure.
Gold Services
Gold Loan Settlement and Takeover
Help to settle a gold loan with another bank or NBFC, release your pledged gold, and move it to a clearer scheme if you wish.
- Gold Services
- Usually the same or next working day after the outstanding is confirmed*
About Gold Loan Settlement and Takeover
Paying high interest on a gold loan with another bank or NBFC? Or have you received an auction notice? Our team in Salt Lake, Kolkata can help you settle the outstanding amount and release your pledged gold.
Once your gold is released, you can move it to our gold loan scheme if you wish. This step is optional. If you would rather sell the released gold, we can also buy it at the current market rate after testing it in front of you.
Settlement depends on the outstanding amount and release process of the other lender. Any new loan is subject to valuation, KYC and the lending entity's terms.
After Your Gold Is Released
You decide what happens next. There is no obligation.
New gold loan
Pledge the released gold with us under our standard gold loan scheme.
Sell the gold
Sell the released gold to us at the current market rate for its purity.
Take it home
Simply collect your gold and keep it with you.
Who Needs This Service
- Borrowers paying high interest on a gold loan elsewhere
- Customers who have received an auction or overdue notice from another lender
- People who want to move their gold loan to a simpler scheme
- Customers with gold pledged at more than one place who want one account
- People who want to release their pledged gold and sell it
Key Benefits
Help before auction
We work with you to settle the dues so your gold can be released.
Gold released with you
The gold is released in your presence, so you see every step.
Optional new loan
Move the released gold to our gold loan scheme only if it suits you.
Option to sell
If you prefer, we can buy the released gold at the current market rate.
Eligibility and Applicability
- You have a gold loan with another bank, NBFC or lender
- You can share the loan card, pledge receipt or outstanding details
- The gold is pledged in your own name
- You have valid KYC documents
Settlement depends on the outstanding amount confirmed by the other lender and on their release process. A new loan with us, if you choose one, is subject to valuation of the released gold at our office.
Documents Commonly Required
Existing loan
- Old loan card or pledge receipt
- Latest outstanding statement, if available
- Any notice received from the lender, such as an auction notice
KYC
- Aadhaar card
- PAN card
- Two passport-size photographs
Document requirements can vary with the lender, product and your profile. We confirm the exact list before you visit. Never share OTPs or passwords with anyone.
Step-by-Step Process
Share your loan details
Bring or send your loan card, pledge receipt and any notice you have received.
Check the outstanding
We check the outstanding amount with you and the other lender.
Settlement arranged
We arrange the settlement of the dues as agreed with you in writing.
Gold released
Your gold is released from the other lender in your presence.
Choose what next
Take a new loan at our rate, sell the gold to us, or simply take it home.
Settlement and Takeover Terms
| New loan terms | As per our standard gold loan scheme |
|---|---|
| Time | Usually the same or next working day after the outstanding is confirmed |
| Release of gold | In your presence |
| Selling released gold | At the current market rate, after purity testing in front of you |
These terms are indicative and are confirmed in writing before settlement. Any new loan is given under a written loan agreement carrying the lending entity's name.
Estimated Timeline and Fees
Estimated timeline
Usually the same or next working day after the outstanding is confirmed
Time depends on the other lender's release process and working hours. Loans close to auction should be brought to us as early as possible.
Processing fee and charges
A settlement support fee may apply. It is shared with you in writing before we begin. A new loan, if you take one, carries charges as per our standard gold loan scheme.
Taxes and other charges
GST is added to applicable fees. Any charges levied by the other lender for closure or release are separate and payable as per their terms.
* All terms are confirmed in writing before settlement. The value of released gold, for a new loan or sale, is decided only after valuation at our office.
Common Mistakes to Avoid
- Waiting until the auction date before asking for help
- Not bringing the loan card or pledge receipt
- Not checking the exact outstanding, including penal interest, with the lender
- Agreeing to a new loan without reading the new terms
Frequently Asked Questions
I have an auction notice. Can you still help?
Please contact us as soon as possible. If the gold has not yet been auctioned, we can usually help arrange settlement once the outstanding amount is confirmed.
Do I have to take a new loan with you?
No. A new loan is optional. You can also sell the released gold or simply take it home.
How long does settlement take?
Usually the same or next working day after the outstanding is confirmed. It depends on the other lender's process.
Can I sell the released gold to you?
Yes. We test the gold in front of you and buy it at the current market rate for its purity.
What documents should I bring?
Your old loan card or pledge receipt, the latest outstanding statement if you have it, Aadhaar, PAN and two photographs.
Related Services
You May Also Need
Sell Your Gold for the Best Price
Sell old, broken or unused gold jewellery at the live market rate, with a free purity test in front of you and payment on the spot.
Top-up / Personal Loan Against Gold
Extra funds on gold you have already pledged, or a personal loan part alongside your gold loan, subject to gold value and eligibility.
Talk to Our Team
Have a Question About Gold Loan Settlement?
Call, WhatsApp or visit our office. We will explain what applies to you, the documents needed and all charges before you decide.
- Callback during office hours
- Written quote before any work begins
- No obligation to proceed
Speak to an expert
Tell us what you need. We will explain the documents, process and fees before you decide.
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